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Ascott acquires Oakwood worldwide to fast-track growth to over 150,000 units globally

The Ascott Limited (Ascott) announced it is acquiring Oakwood Worldwide (Oakwood), a premier global serviced apartment provider, from Mapletree Investments Pte Ltd. The acquisition increases Ascott’s global portfolio by 81 properties and about 15,000 units. Oakwood’s approximately 8,500 operational units are expected to immediately contribute to Ascott’s recurring fee income streams upon completion of the transaction slated in 3Q 2022. Ascott’s acquisition of Oakwood will leapfrog Ascott’s global presence to more than 150,000 units in about 900 properties across over 200 cities in 39 countries. It will add new markets which include Cheongju in South Korea; Zhangjiakou and Qingdao in China; Dhaka in Bangladesh as well as Washington D.C. in the United States of America (USA). Recently named the ‘Best Serviced Residence Brand’ in DestinAsian Readers’ Choice Awards 2022, Oakwood’s award-winning portfolio includes flagship properties Oakwood Premier Tokyo and Oakwood Premier Coex Center Seoul which were ranked top 10 properties in their respective countries in the DestinAsian awards. New properties such as Oakwood Premier Melbourne and Oakwood Hotel Oike Kyoto, will also add to the group’s destination highlights. Mr Kevin Goh, CLI’s Chief Executive Officer for Lodging, said: “This acquisition of Oakwood is part of Ascott’s roadmap to playing a bigger role in the lodging market. There are significant synergies between Ascott and Oakwood, given our complementary footprint and product offerings. We intend to build on the strong reputation and heritage of the Oakwood brand, especially in markets across Southeast Asia, North Asia and North America. Oakwood will continue to grow alongside Ascott’s current portfolio of global brands as we continue to build growth momentum for our lodging business. We will be able to leverage Ascott’s extensive expertise as a …

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Venice to be world’s first city to have compulsory entrance fee from next Jan to tackle overtourism

Venice is all set to become the world’s first city to make an entrance fee compulsory for its tourists from next January in a bid to tackle overtourism. Starting from Jan 16, 2023, tourists will have to pay an entrance fee if they want to visit Venice, jewel in Italy’s tourism crown. The ticket’s prices will range from a three-euro minimum right up to 10 euros. The price will not be fixed, but will vary according to the number of visitors: The more requests for entry, the higher the cost. If the entrance fee is not paid, the tourist may face a fine of 300 euros (£258), according to The Independent. Venice’s councilor for tourism Simone Venturini on Friday announced the date at a press conference. The councilor termed this a “great revolution,” and a solution for the over tourism problem that the lagoon city has been facing for decades. Residents and children aged under six will be exempt, as will disabled people, homeowners, those who come to the city for health reasons or to visit relatives, and those coming to attend a sporting or cultural event, according to CNN’s report.

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Asia Pacific to reach an IVA count in 2024 of 510-832 million: PATA

PATA, as part of its latest quarterly updated international visitor arrivals (IVAs) forecast has projected that Asia Pacific will reach an IVA count in 2024 of 510-832 million. Liz Ortiguera, CEO, PATA, said, “While a positive turning point is predicted to occur in 2022 for all the 39 Asia Pacific destinations covered in these updated forecasts, many market variables are currently influencing travel and significant challenges still lay ahead.”

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Deoghar Airport in Jharkhand ready for operations, inauguration by PM Modi on 12 July

Deoghar airport in Jharkhand is reported to be inaugurated by Prime Minister Narendra Modi on July 12. The airport is ready to be operational as two flight run trials have been successful. When operational, the airport will be the second of international standards in Jharkhand after the Birsa Munda international airport in Ranchi and will provide air connectivity to Jharkhand, northern West Bengal, and south-eastern Bihar.

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IATO seeks 5-10% of duty drawback for tour operators on forex earnings

Rajiv Mehra, President, IATO, has shared that they know that SEIS will not be given by the government. Hence, they have requested the Ministry of Finance and Ministry of Commerce that at least for tour operators and travel agents, whatever they earn in foreign exchange, a 5-10% duty drawback should be given to them. “But nothing has happened. We have had no response or no further meetings on this with them. There has been no headway. So, it looks like the government doesn’t want to do that. We have told them that to support the industry, this is the minimum they can do.”

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Direct Bhubaneswar-UAE flights to operate very soon: Odisha CM

Naveen Patnaik, Chief Minister, Odisha, has announced that direct flights will be operated between Bhubaneswar to UAE very soon. Patnaik made this announcement while addressing the diaspora from Odisha in Dubai recently. Odisha government has already proceeded with a viability gap funding (VGF) plan for direct flight services between Dubai and Bhubaneswar.

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Turkish Airlines & IndiGo resume existing codeshare partnership

IndiGo and Turkish Airlines have resumed their codeshare flights and partnership by opening the sale earlier this month. Scheduled operations will be restarted in a phased manner with the first flight effective yesterday. The codeshare is considered as Bilateral Free Flow Codeshare wherein both the airlines will place its code on another’s flights. The agreement will enable both the carriers to provide more flexibility of choice to the customers on sectors between India and Istanbul, amongst others. In the 1st phase, both the airlines are open for sale, with Turkish Airlines as the marketing carrier, and IndiGo as the operating carrier. Turkish Airlines will be placing its code on trunk route flights operated by 6E on the Delhi-Istanbul route and later from six domestic destinations in India including Ahmedabad, Amritsar, Bengaluru, Chennai, Mumbai and Kolkata. Mr. Ronojoy Dutta, Wholetime Director and Chief Executive Officer, IndiGo said, “We are pleased to resume our strategic partnership with Turkish Airlines to offer more options to our passengers. Owing to the recovery of overall aviation industry, this agreement will extend our on-time, affordable, courteous, and hassle-free travel experience by expanding the choices available to our customers for journeys beyond Istanbul, using Turkish Airlines’ extensive network through a dozen destinations covered by our agreement.” Mr. Bilal Ekşi, Chief Executive Officer Turkish Airlines, said, “After witnessing two tough years of pandemic, airline industry is now in the new period which will enable us to recover and improve partnerships. In this new era, every cooperation has become more important for each airline.  We are very happy to see that as Turkish Airlines and IndiGo, we reactivated our codeshare cooperation by resumption of our flights between Turkiye and …

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