Maldives Announces Tourism Campaign with Three-Fold Increase in Budget

Maldives Marketing and PR Corporation ("MMPRC"), the country's main tourism promotion agency, will be launching a series of tourism initiatives. These include (1) a social media marketing campaign targeting 6 countries - the US, Ukraine, Thailand, India, Russia and China; (2) a partnership with Singapore Airlines in an USD180,000 deal to promote Maldives as a travel destination in China, Japan, South Korea and the US; and (3) a partnership with BBC to use their multimedia platform for 3.5 months to promote the destination from September 2019. The MMPRC is also in negotiation with AirAsia, Emirates and SriLankan Airlines for destination marketing covering other markets. The MMPRC is expected to spend approximately USD7 million this year, a three-fold increase from USD2.2 million annually in the past two to three years.

Thai Airways International Announces New Route to Sendai, Japan

Thailand-based Thai Airways International Public Company Limited ("Thai Airways") has announced the launch of a direct flight service between Bangkok and Sendai, a city in Japan's Tohoku Region, located 300 kilometers northeast from Tokyo on Honshu Island. Starting from 29 October 2019, Thai Airways will commence a three-times weekly flight service, with the Bangkok-Sendai route scheduled on every Tuesday, Thursday and Saturday while the Sendai-Bangkok route on every Wednesday, Friday and Sunday. The flight service will be operated by Boeing 777-200 aircraft with 30 seats in the Royal Silk Class and 279 seats in Economy Class. With the introduction of the direct flight service, Sendai will become Thailand's sixth destination in Japan, in addition to Tokyo, Nagoya, Osaka, Fukuoka, and Sapporo. According to Khun Anujtha Jaovisidha, General Manager of Toyota Tsusho (Thailand) Company Limited, a joint venture business plan has been established between Thai International and Miyaki Province in Tohuku Region, supporting the eco-tourism campaign in Sendai and the promotion of discounted air tickets for flights between Bangkok and Sendai.

Belluna Honolulu LLC Acquires Ewa Hotel Waikiki for USD19.6 Million

Japan-based investment firm, Belluna Honolulu LLC ("Belluna"), an affiliate of US-based Belluna Capital
which is owned by Japan-based mail-order company, Belluna Company Limited, has acquired the 92-key Ewa Hotel Waikiki from US-based Go Ewa Owner LLC ("GEO") for USD19.6 million on 29 March 2019. GEO, a partnership including Hawaii hoteliers Ben Rafter and Andre Tatibouet, attorney Peter Starn and developer Peter Savio, paid USD14 million for the hotel property in late 2015. The budget leasehold hotel is located at Cartwright Road, a side street that runs between Kapahulu and Paokalani avenues on the Diamond Head side of Waikiki. Surrounding the hotel are several attractions including Honolulu Zoo, Kuhio beach, Waikiki Mall, Queen's Beach and Waikiki Aquarium. Branded under the Aqua Aston Lite brand by US-based Aqua-Aston Hospitality ("AAH"), the hotel features standard rooms, studio rooms, one- and two-bedroom suites, as well as three-bedroom penthouses. AAH manages more than 40 properties across five distinct brands including Aston Hotels & Resorts, Aqua Hotels & Resorts, Instinct Hotel Collection, lite Hotels, and Maui Condo and home.

Mercurius Enters Joint Venture Agreement with Thailand Property Development Companies

Singapore-based Mercurius Capital Investment Limited ("Mercurius") has entered into a Joint Venture Agreement ("JVA") with Thailand-based firms, Apex Development Public Company Limited ("APEX") and Grand Bay Hotel Company Limited ("Grand Bay"). Subsequent to the JVA, Mercurius will acquire a 50% shareholding interest in Grand Bay from APEX for more than THB335 million (SGD14.69 million). With Grand Bay as the joint venture vehicle, the firms will jointly develop a hotel property under the name of Sheraton Phuket Grand Bay Resort in Thailand. The Sheraton Phuket Grand Bay Resort is part of an integrated development that comprises residential properties, which are not part of the joint venture. The Sheraton Resort, upon completion, will be operated by Starwood Asia Pacific Hotels & Resorts or its affiliates. Following the signing of the JVA, Mercurius and Apex had also expressed interest in forming joint ventures for two other mixed-use development projects - Club Med Krabi Resort and Residences, and the Sheraton Krabi Yao Beach Resort and Residences.

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