Latest news with #Mice
Straits Times
2 days ago
- Business
- Straits Times
Singapore on track for a multibillion-dollar Mice industry
STB said the Mice global market is projected to grow at a compound annual growth rate of 7.2 per cent from 2024 to 2032. ST PHOTO: BRIAN TEO SINGAPORE – American icons Lady Gaga and Taylor Swift may have grabbed headlines with their performances in Singapore, but players in the meetings, incentives, conferences and exhibitions (Mice) ecosystem have been making strong contributions as well. If all goes to plan for the various venue providers, hoteliers and event organisers in the city-state, the Singapore Tourism Board (STB) might meet its aim to more than double its Mice tourism receipts by 2040. Join ST's Telegram channel and get the latest breaking news delivered to you.
Daily Express
16-05-2025
- Business
- Daily Express
Sabah invited to prestigious global tourism summit in Malta
Published on: Friday, May 16, 2025 Published on: Fri, May 16, 2025 Text Size: Joniston with Brix (second left) and STB deputy chairman Datuk KL Tan (second right) at the dinner gathering, on Thursday. KOTA KINABALU: Sabah's global tourism visibility received a major boost with an invitation from Lufthansa City Centre (LCC) for the Sabah Tourism Board (STB) to attend its prestigious General Assembly in Malta this November. Assistant Tourism, Culture and Environment Minister Datuk Joniston Bangkuai, who is also STB chairman, hailed the invitation as a strategic opportunity to showcase Sabah to over 500 travel leaders from 85 countries. Advertisement He said the biennial summit offers a key platform to promote Sabah's strengths in nature, culture, community-based tourism, and its rising potential in the Mice sector. LCC International managing director Heiko Brix, who extended the invitation, described Sabah as an authentic, nature-rich destination ideal for both leisure and business travel. Currently in Sabah for LCC's Asia Pacific meeting, Brix's endorsement has prompted Joniston to propose Sabah as a potential host for a future LCC global summit. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Straits Times
16-05-2025
- Business
- Straits Times
Pan Pacific Hotels upgrades its Perth property as it eyes Australia's growing Mice industry
The group announced on May 16 that it renovated the hotel's interiors, lobby and the hotel's club lounge. PHOTO: PAN PACIFIC HOTELS GROUP SINGAPORE - Pan Pacific Hotels Group (PPHG) has given its Perth property a multimillion-dollar upgrade, as the group positions itself to tap Australia's growing Mice and tourist numbers. The group announced on May 16 that it renovated the hotel's interiors, lobby and the hotel's club lounge. The hotel's 2,500 sq m convention floor was also upgraded with advanced LED screens and audiovisual technology, it said. The hotel has 488 guest rooms and suites. PPHG is the hospitality arm of Singapore-based UOL Group, and owns or manages five other properties in Australia: The Pan Pacific Melbourne; Parkroyal Darling Harbour Sydney; Parkroyal Melbourne Airport; Parkroyal Parramatta Sydney; and Parkroyal Monash Melbourne. The group has focused efforts on enhancing other properties in its Australian portfolio, with the Parkroyal properties at Melbourne Airport and in Sydney's Parramatta having also undergone upgrades to their guest rooms, meetings and event spaces, and conference facilities. These upgrades come at a time when Australia's Mice (meetings, incentives, conferences and exhibitions) industry is forecast to grow 11.5 per cent from 2024 to 2032, and to reach US$42.8 billion (S$55.48 billion) in value. Melbourne and Sydney are expected to continue as key hubs for Mice activities. Additionally, the Australian Trade and Investment Commission expects international tourist arrivals to rise by 41 per cent between 2024 and 2028. According to PPHG's release, arrivals from Singapore have grown by over 40 per cent between 2022 and 2024, and growth is projected to continue. Mr Choe Peng Sum, chief executive officer of the Pan Pacific Hotels Group, said the group's investment in Pan Pacific Perth is a 'commitment to the city's evolving position as a West Coast events and business hub'. He added: 'Backed by a national tourism rebound and Perth's upcoming A$5 billion (S$4.15 billion) airport redevelopment, the hotel is strategically positioned to meet the city's growing demand for premium travel and event experiences.' Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
15-05-2025
- Business
- Business Times
LHN net profit for H1 rises 8.8% to S$14.1 million
[SINGAPORE] LHN's net profit for the first half ended March 31 rose 8.8 per cent to S$14.1 million from S$13 million in the year ago period. The real estate management services group's revenue increased 29.4 per cent to S$70.6 million in H1, from S$54.5 million the year before. The increase was primarily attributed to revenue contribution from the property development business as well as an increase in revenue from the co-living business, LHN said on Thursday (May 15). Kelvin Lim, executive chairman and group managing director of LHN, said: 'The addition of (the) property development segment as a new revenue stream has significantly enhanced our financial resilience and growth potential amid the ongoing geopolitical uncertainties and a dynamic economic environment. 'Additionally, the ongoing growth and strong performance of our co-living business, Coliwoo, continue to provide a reliable and expanding revenue base.' Earnings per share stood at S$0.0338, a 6.6 per cent increase from S$0.0317 a year ago. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up This year, LHN recorded its maiden revenue contribution from its property development business from the sale of certain strata-titled units at 55 Tuas South Avenue 1, a nine-storey industrial development property. The group is also redeveloping property in Geylang into a strata-titled commercial building for retail and office use, with an estimated saleable area of over 28,000 sq ft. The project at Geylang will be LHN's second property development project. Revenue from the cleaning and related services and carpark management businesses rose 12.6 per cent to S$19.4 million in H1 2025 from S$17.2 million a year ago, LHN said. 'The profit improvement was mainly driven by new integrated facilities management contracts and car park management projects secured, coupled with the cessation of less efficient car park management projects in Hong Kong.' Revenue from LHN's energy business declined by 6.9 per cent to S$768,000 in H1. On Thursday, LHN said that the group remains cautiously optimistic on the demand for both short-term and long-term rentals for 2025. Private residential rents are projected to rise between 2 and 4 per cent in 2025 due to shrinking supply and improved economic conditions. The Singapore Tourism Board is expecting international visitor arrivals to reach between 17 million and 18.5 million in 2025, an increase from 16.5 million in 2024, driven by new attractions such as Minion Land, Rainforest Wild Asia in Mandai, a robust meetings, incentives, conferences, and exhibitions (Mice) events calendar and improved air connectivity. LHN said: 'The growing number of tourists will contribute to healthy demand for short-term lodging.' The group declared an interim dividend of S$0.01, unchanged from a year ago. Shares of LHN closed 1 per cent or S$0.005 lower at S$0.495 on Thursday.
Daily Express
15-05-2025
- Business
- Daily Express
Lufthansa City Centre holds regional Apac meeting in KK
Published on: Thursday, May 15, 2025 Published on: Thu, May 15, 2025 Text Size: Joniston (second right) with (from right to left) Lufthansa City Centre International managing director Heiko Brix, STB CEO Julinus Jeffery Jimit, and STB Deputy Chairman Datuk KL Tan. Lufthansa City Centre International is hosting its bi-annual Apac Regional Meeting here from May 14–16, bringing together 40 top travel agency leaders from 11 countries. The event is supported by the Sabah Tourism Board (STB) and local DMC partner Borneo Trails, highlighting Sabah's rising profile as a meetings, incentives, conferences, and exhibitions (Mice) destination. Advertisement Key topics on the agenda include the impact of geopolitics on travel, AI innovation, digital sales, destination authenticity, and modern airline retailing. Delegates will participate in professional development sessions, a curated destination tour, and exclusive cultural networking dinners showcasing Sabah's heritage and natural attractions. Assistant Tourism, Culture and Environment Minister Datuk Joniston Bangkuai said the meeting affirms Sabah's Mice potential, aligning with its 'Explore Sabah' campaign for Visit Malaysia Year 2026. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
