Monday, August 30, 2010

SG Tourism

SG Tourism: Visitor arrivals to Spore surged past the 1m for the 1st time in a single mth in July, powered by the regional recovery, the 2 casino resorts & aggressive promotion. July arrivals hit a record 1.095m +24% yoy with avg visitor days reaching 3.9 days (+21%). Indon, China, Australia, M’sia & India were the top 5 mkts, together accounting for 53% of all arrivals.

Hotels benefited as a result, with avg room revenue +37.2% to $173m (+37.2%), revenue per available room +35.3% to $188 & hotel occupancy reaching 90% vs 79.8% yoy. The robust tourism numbers will rub positively on stocks like SIA, Tiger Airways, OUE, CDL Hospitality Trusts, Genting Sp.

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