HVS Asia Pacific Hospitality Newsletter - Week Ending 10 October 2020
On 1 August 2020, Seychelles open its borders for international travellers from selected countries and with certain limitations. On 2 October 2020, Seychelles Department of Tourism reviewed its Visitor's Travel Advisory. As per the new advisory, all countries allowed to enter Seychelles will be considered permitted countries and have been divided into two categories: 1) permitted countries from low and medium risk and 2) consist of countries from the list of seven countries (United Kingdom, France, Germany, Italy, Switzerland, Austria, and the United Arab Emirates) given special status. Permitted countries from Category 2 will be subjected to a set of different measures, including a Polymerase Chain Reaction test within 48 hours of travel, stay within hotels designated, restricted movement for the first five days of the stay and request to adhere to all stated procedures in the Visitor's Travel Advisory. Visitors from Category 1 will be requested to adhere to another set of more relaxed procedures.
Malaysia-based Iskandar Waterfront Holdings Sdn Bhd ("IWH"), developer of Bandar Malaysia, shared that the company will build more than twelve world-class towers with a gross floor area of over 1 million square metres and an estimated gross development value ("GDV") of around MYR10 billion in Phase 1 of the project. Construction is expected to commence by June 2021 to spur the Malaysian economy and create jobs. In the first phase, there will be several Grade A office towers, hotels, serviced apartments, and luxury residences, developed across 20.23 hectare of land over four years. The project will kick-off with infrastructure development involving the building of several roads and highways, as well as installing power and water supply. Located at the site of the former Royal Malaysian Air Force base in Sungai Besi, Bandar Malaysia will be developed across 194.5 hectare of land and will be the single largest city development project in South-East Asia. Based on international real estate consultants' estimates, the GDV of the project is estimated to be over MYR200 billion, while the Ministry of Finance Incorporated had earlier in December 2019 estimated a MYR140 billion GDV.
The Australian government has pledged AUD231.6 million to Tourism Australia from 2020 to 2021 to drive domestic marketing activities and encourage Australians to travel, as well as to push new campaigns to continue to attract international visitors when international travel borders are ready to open. An additional AUD51 million has been allocated in the budget for a Regional Tourism Recovery initiative to assist tourism regions that rely highly on international travellers to pivot and adapt their products, experiences, and marketing strategies to the domestic market. According to Trade, Tourism and Investment minister, Simon Birmingham, as Australia moves into the next phase of the tourism recovery plan, new budget measures will further support the sector and jobs by stimulating domestic visitation to our tourism regions and encouraging domestic business travel. The government have also added AUD1 billion to Australia's research effort, which according to Universities Australia, will allow universities to secure an important and continuing role in national recovery. A sum of AUD317.1 million aid will extend the International Freight Assistance Mechanism until the mid-2021 to restore global supply chains and keep international freight routes and flights operating during Covid‑19.
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