Singapore Airlines (SIA) has raised S$850 million (US$631 million) through a convertible bond issue, exceeding its original target of S$750 million owing to “strong investor interest”.
The five-year bonds will carry a coupon of 1.625 per cent, and can be converted into ordinary shares at a price of S$5.743. This represents a premium of 45.8 per cent over the closing price of S$3.94 last Thursday.
Offer for issuance of convertible bond “more than four times oversubscribed” with strong investor interest: SIA
The Hong Kong and Shanghai Banking Corporation is the sole bookrunner and lead manager of the issue.
SIA said in a statement that this issuance further strengthens its liquidity position, and bolsters its ability to navigate the challenges posed by the impact of the Covid-19 pandemic on the business.
Proceeds from the bonds will be used to fund operating and capital expenditure, and debt servicing, it added.
SIA CEO Goh Choon Phong said in the statement: “The placement was successfully executed with a highly competitive coupon and substantial conversion premium. Such attractive terms for the company underscore the strong confidence that investors have in Singapore Airlines, as well as our ability to successfully overcome the near-term challenges and emerge as a leader in the airline industry.”
The national airline said that positive discussions have also taken place on aircraft sale-and-leaseback transactions, and that it will continue to explore other means to further strengthen its liquidity as necessary.
Since the start of its 2020/2021 financial year, including Friday’s issuance, SIA has raised approximately S$12.2 billion. Including the new lines of credit, the carrier will continue to have access to more than S$2.1 billion in committed credit lines.
According to the airline, for the period up to July 2021, it retains the option to raise up to S$6.2 billion in additional mandatory convertible bonds that would provide further liquidity if necessary.
How does STB envisage the industry taking up more AR technology? What innovative ideas have you seen working well for Singapore?
We are already beginning to see the adoption of AR technology within the tourism sector. For example, the National Heritage Board (NHB) is partnering with SmartGuide to design digital trail guides using audio, geolocation and AR for three NHB heritage trails at Orchard Road, Little India and Balestier.
This project aims to encourage locals to discover our national heritage with entertaining multimedia content. The mobile app will also collect and evaluate data from the trail routes to provide a better understanding of visitor behaviour.
To showcase the potential uses of the AR content, STB’s in-house development team is developing a variety of prototypes to help visualise the possibilities of using AR, such as enhancing customer engagement at places of interest, augmenting tour experiences, gamifying exploration, and creating focal points for repeat visitorship and social media engagement.
What are some of the potential barriers to adoption of AR solutions among local players, and how is STB working to address such barriers?
One of the key hurdles that businesses face in creating this type of digital content is that it can be costly to develop and maintain. Our aim is to create 1,000 pieces of high-quality AR content, such as Singapore icons, cultural and heritage items, and make them available to industry partners over the next few years. The 3D models – with or without animation – will be developed and uploaded to the Tourism Information and Services Hub (TIH) for tourism stakeholders to access for free.
These assets can be used to create AR experiences within their digital channels such as apps and websites for customers, (and will be) released for use starting from next year. We look forward to industry partners also contributing to this pool of AR content.
Will there be any standardisation or regulation surrounding the production and use of AR assets?
For content creators who would like to leverage on TIH, our AR team will establish a set of standards for both technical format and quality. The intent of these standards is to enhance the reusability of AR content across the industry, and reduce friction in integrating different types of AR content.
For example, stakeholders will be able to download 3D models from TIH (with) assurance that the models conform to a set of standards, thus, reducing the time and cost of development.
With the necessity of contactless transactions and virtual engagement now, how can tourism businesses navigate the sentiment that technology cannot replace the human touch?
We are not against the adage. The key point of leveraging technology is to let it take over mundane and repetitive tasks, so that our precious manpower can be devoted to delivering impactful customer service.
Given the pandemic, we do not foresee mass leisure travel to resume soon. This is a good opportunity for our tourism and lifestyle businesses to explore new ways to allow consumers to experience Singapore from afar, stay top-of-mind, and build demand as the market recovers. AR technology allows our tourism stakeholders to add an extra dimension of interactivity.
Do you envisage some types of hybrid tourism products arising from this?
When recovery happens, AR can be used to bridge the online-to-offline divide as part of STB’s vision to create the end-to-end “One Singapore Experience” and deliver a seamless and memorable experience. Tourism businesses with strong AR capabilities will then be able to deeply engage customers from pre-arrival to post-arrival, delivering richer, more memorable experiences at our places of interest.
Earlier this year, STB launched a pilot of the Tourism Transformation Index (TXI) that allows businesses to self-assess their state of transformation.
How has the TXI aided the recovery of participating stakeholders thus far?
Several tourism businesses, such as Amara Hotels & Resorts and Park Hotel Group, have undergone the TXI assessment as part of our Lighthouse Account programme. Their TXI score will help us co-develop a digital transformation strategy to identify new opportunity areas and improve their business outcomes as they plan for recovery. The digital transformation strategy will be accompanied by a roadmap that guides the stakeholders on their next steps.
These key industry stakeholders will be examples for the rest of the industry to showcase the importance of transforming their businesses, especially considering the current challenges. We will be releasing the full-scale version of the TXI on our Singapore Tourism Analytics Network by the end of the year.
With international travel largely off the cards for now, how can local tourism players better tap into domestic demand?
It is in my view that our Singapore residents are very discerning, and our attraction operators will have to innovate either through technology or bundling with other experiences to surprise our domestic crowd. We hope that the SingapoRediscover Vouchers will give our industry an opportunity to do so, and maybe through this, develop new experiences and content that will place them in a better position when travel resumes.
Despite ongoing travel restrictions, particularly on longhaul travel, Switzerland Tourism has not ceased its marketing and trade outreach efforts in Asia, pushing on with several activities to keep trade partners informed and ready for when travel is possible again.
In this new episode of TTG Conversations: Five questions video series, Ivan Breiter, director of South East Asia with Switzerland Tourism, the National Tourism Board of Switzerland, details how the organisation has approached destination marketing activities and messaging during a time of suppressed travel freedom, reflects on challenges Swiss travel and tourism suppliers face as traffic returns, and what Switzerland is doing to rejuvenate its offerings.
Thailand’s luxury hospitality sector is gearing up post-lockdown to attract domestic travellers who now seek exclusive escapades with a component of seclusion, valued-adds and heightened wellness experiences.
The pandemic has only served to enhance the existing demand for personalisation and bespoke experiences across the board — now with an added element of safety and seclusion that Thailand’s luxury hotels are going the extra mile to satiate.
Results-driven wellness experiences and health treatments are gaining intense interest among well-heeled Thai travellers
According to Bruno Huber, general manager at Mövenpick BDMS Wellness Resort, Thailand’s domestic destinations will need to reinvent themselves to stay attractive to the high-income group. “It will require a level of creativity from us in the hospitality industry to create new, aesthetically pleasing and authentic experiences that are engaging to combat the market’s short attention span,” he said.
This heightened expectation for creative offerings among high-end travellers is also echoed by Nick Downing, general manager at The Siam Hotel, who observed guests “more often than not requesting bespoke itineraries or ideas”.
Downing noted that balancing the expected personal touch and connection in luxury hospitality with safety protocols has become a fine juggling act – to that end, the hotel now reaches out to its guests pre-stay to find out their concerns relating to the coronavirus and how they wish for the hotel to address their unease.
With the halt on international tourism necessitating Thailand’s shift to rely on its own vast domestic market, hoteliers have had to evolve their strategies.
Vitanart Vathanakul, CEO of Royal Cliff Hotels Group, said differentiating between domestic and international market expectations is paramount.
“Everyone views luxury travel differently, so what Thais are looking for will be different from what the international clientele is expecting,” he told TTG Asia Luxury, adding that hotels with “strong preventative programmes combined with a high level of hygiene” will win customers’ trust.
The tussle for the local tourist dollar has also prompted some Thai luxury hoteliers to veer towards value-added packages that draw marketing buzz.
The key to unlocking opportunities in this climate lies in creating attractive staycation deals that “spread via word-of-mouth and are supplemented by targeted promotional campaigns,” opined Huber.
He cited the examples of “value-added service and food and beverage-driven experiences”.
For Rosewood Bangkok, the hotel is baiting consumers with a host of bundle deals, such as teaming up with sister property, Rosewood Phuket, to create a “dual destination” package, shared Thomas Harlander, its managing director.
“(It’s a challenge to create) products and services that exceed expectations in a highly competitive and saturated market such as Bangkok, (but) the response has been tremendous,” he shared. “We have also noticed that guests are putting a premium on their health and are willing to spend more on trusted brands and wellness services… I see real growth in the area of results-driven, luxury wellness retreats with a medical and holistic component.”
Among the biggest developments on this front in Thailand include the December 2020 launch of RAKxa by Minor Hotels, in collaboration with M.K. Real Estate Development and VitalLife Scientific Wellness Centre. Situated in Bangkok’s Green Lung, RAKxa has been billed as Thailand’s first fully integrated wellness and medical retreat.
The September launch of Anya Meditec by event and marketing services firm Index Creative Village also aims to bring hospitals to hotels, latching onto the healthcare trend in premium markets which allows travellers to receive medical services, such as sleep tests, without going to the hospital.
“It’s more than wellness – we have a complete team of doctors, nurses and medical technicians,” said Kreingkrai Kanjanapokin, founder and group CEO of Index Creative Village, on forming the “medical agency” spinoff.
Paul Hawco, corporate director of wellness at Dusit Hotels and Resorts, who is working towards the launch of an integrated wellness centre at mixed-use project Dusit Central Park in 2023, also pointed to the brand’s infusing of “micro-moments of well-being” into the stay experience – such as a mini massage upon arrival – as indication of how luxury wellness would evolve.
Karina Stewart, co-founder and chief wellness director at Kamalaya wellness sanctuary and holistic spa resort in Koh Samui, which offers personal coaching sessions with experts from a range of backgrounds, including former monks, onsite and via Zoom, said the resort has seen a rise in demand for pandemic anxiety treatments. She foresees a spike in wellness travellers, their stays lengthening, and wellness destinations driving demand post-lockdown.
The best kept secrets are mostly found in the East. With the latest addition of exciting attractions such as the Jurassic Mile and Jewel Changi Airport, Capri By Fraser, Changi City / Singapore has launched 3 different staycation packages that is perfect for anyone looking for a unique experience. Whether you are the romantic, adventurous, or looking for a fun-filled family getaway with the kids, we have the staycation just for you!
Capri by Fraser, Changi City / Singapore: Lobby
Capri by Fraser, Changi City / Singapore is a design-led business hotel designed to meet the evolving needs of today’s E-generation traveller. Easily accessible via Expo MRT Station, it is a 2-min walking distance away. Right next to Changi City Point, guests can enjoy a wide array of shopping and dining options. It is also one MRT station away from Changi Airport and its newest development – Jewel Changi Airport – world-class shopping destination with a unique integration of lush greenery.
Capri by Fraser, Changi City / Singapore: Studio Premier Room
Capri by Fraser, Changi City / Singapore: Kitchenette in all Studio Rooms
Generously appointed for comfort, all studio rooms have been specially designed to feature well-defined living spaces. Fully-furnished kitchenettes completed with cooker hood and hob, microwave ovens, fridge and sink, selected rooms also feature Nespresso machines, providing the added convenience of being able to cook in.
An inimitable sense of spontaneous fun and functionality come together at Spin & Play where doing laundry becomes less of a chore, and more of an experience. Located on every floor, these integrated themed laundrettes feature a range of interactive games, such as Xbox One Kinect and PlayStation 4.
Capri by Fraser, Changi City / Singapore: Pool with Jacuzzi and Children’s Pool
Capri by Fraser, Changi City / Singapore: Trek Bicycles
Enjoy the flexibility of resting, relaxing and recharging with a range of de-stress zones on level 2 of the hotel residence. Wind down and rejuvenate with the steam and sauna rooms, while active guests can enjoy a good workout session anytime of the day at the fully-equipped 24/7 gym. Dip into the outdoor pool with jacuzzi and children’s pool, or simply lay back, stretch out and relax to the rocking motions of EZ Hammocks by the poolside. Trek bicycles, DVDs and board games are also available for loan at our Concierge – complimentary for all in-house guests!
Capri Master Chef Staycation(Suitable for families and couples) Master your culinary skills and dish out an impressive meal for your family or surprise that loved one during your staycation at Capri by Fraser with a guided 3-course recipe by Chef Jeffrey of Caprilicious. A nourishing experience where you get a chance to whip up a special feast at our fully-equipped kitchenette in our studio rooms, with the ingredients prepared and ready for your convenience!
Capri Master Chef JUNIOR Staycation(Suitable for families with young children) “Start them young” and let the little ones take control of their appetite. Choose from an easy to follow pancake recipe starter kit or let the little chefs run free with their creativity with our specially curated fruit decoration activity at our fully-equipped kitchenette.
Capri Great Escapade(Suitable for all) Feeling like it’s time to rekindle that special connection with your partner or friends? Or how about treating yourself to some quality “me-time” at a long-awaited staycation? The Great Escapade is the perfect getaway, allowing you privacy as you escape to a space of meaningful conversations, deeper connections or simply spending a little quiet time with yourself!
Capri by Fraser, Changi City / Singapore is an SG Clean Certified establishment, officially inspected and certified clean for our guests and employees. For more information, please visit SGClean website.
Experience Singapore from our iconic rooftop swimming pool.
From 135++ per night, stay assured and experience Singapore with Holiday Inn Express Singapore Clarke Quay. Located in the central dining and entertainment hub, travel with accessibility to all Singapore’s major attractions and multiple train stations such as Clarke Quay, Chinatown, and Fort Canning.
Focusing on things that matter to you, we stand by our IHG Clean Promise Commitment by partnering with industry-leading experts such as Diversey and Ecolab to redefine cleanliness to support your well-being. With comprehensive health and safety measures (SG Clean) certified by the National Environment Agency, be rest assured with frequent deep cleaning using hospitality-grade disinfections, incorporation of contactless technology and more.
Enjoy a spectacular city view in our widely raved 40m rooftop swimming pool, completed with Jacuzzis. Stay in comfort in our 442 contemporary designed modern rooms with floor to ceiling windows. Start your day right with our Express Start Breakfast or Grab & Go option and stay connected with Wi-Fi access in the hotel. Recharge throughout the day with refreshing drinks at the 24-hour Great Room Bar. Get the most out of your stay with our 24-hour fitness centre, self-service laundry facility, and a natural daylight meeting room venue.
BOOK NOW, BOOK DIRECT to take advantage of the following perks:
FREE Express Start Breakfast and Wi-Fi for up to 2 person
15% off total bill at Great Room Bar
Access to book hotel facilities (up to 3 days prior to arrival date)
Exclusive package discounts and promotional offers
Earn IHG Rewards Club Points for each qualified stay
Book now; we promise to make things right with our IHG Clean Promise commitment.
Guests onboard World Dream’s second pilot cruise to nowhere, which departed Singapore last Sunday night and returned on Wednesday morning
Swedish ship captain Robert Bodin is speaking to cruise passengers over the public address system. However, it’s neither to invite us to the time-honoured captain’s toast, nor to give us evacuation details in case of emergency. Rather, he is dispensing instructions on what to do if we cough or sneeze, encouraging regular hand washing, and detailing steps on how to go about washing our hands.
Welcome to cruising in the Covid era, where hygiene reigns supreme, where self-serve buffets have gone the way of the dodo, and where the biggest safety or threat at hand is neither fire nor collision, but an invisible enemy that has 2020 in its firm grip.
We are on board Genting Cruise Lines’ (GCL) three-day Super Seacation sailing on its 18-deck megaship World Dream, which is the brand’s second outing from Singapore, following its inaugural cruise to nowhere on November 6. World Dream is the first cruise ship to restart operations in Singapore in the wake of the pandemic.
The pilot sailings are operated in compliance with Singapore Tourism Board’s mandatory CruiseSafe certification programme, jointly developed with quality assurance and risk management company DNV GL, which sets out stringent hygiene and safety measures throughout the passenger journey.
Sailing is at a reduced capacity of up to 50 per cent, and only open to Singapore residents.
Our journey started off on Sunday at 11.15 – our appointed Covid-19 test time indicated in the cruise confirmation slip, as part of crowd control measures. After dropping off our luggage in front of the Marina Bay Cruise Centre Singapore, we headed to the car park-turned-test facility to take our antigen rapid test.
Passengers filling in a health declaration form prior to taking the prerequisite Covid-19 swab test at the cruise terminal, before boarding World Dream
To ensure safe distancing among today’s crowd, mostly made up of families with kids, along with some couples and friend groups, the facility has been divided into different zones, based on test timings. After checking in via SafeEntry, getting a temperature check, and filling in a health questionnaire – which can be completed either in physical or electronic form – we wait for our turn to join the queue.
After the test, we proceeded to the holding area, divided into colour zones, to await our results. The whole process lasted 90 minutes.
A staff member demonstrating the procedure of undergoing iris and facial scans for contactless immigration clearance at the Marina Bay Cruise Centre Singapore during a media showcase last week
At the immigration checkpoint at the cruise centre, we underwent iris and facial biometrics replacing fingerprint scans for border identification checks, as part of Singapore’s move towards a touchless visitor experience. We were then given a pink-hued MICE pod for contact tracing – similar to the Singapore government-issued TraceTogether token, but for cruises – which we had to carry along with us at all times onboard the ship.
An aerial view of the top deck of the World Dream cruise ship
The moment we set foot into World Dream, we were whisked into a private lift by a crew member into our Palace Suite (S$1,199/US$887 per pax for a three-day/two-night sailing), where we were greeted by our personal butler, who assisted us with Wi-Fi connections and dinner reservations. We could also access exclusive upper-level facilities via the private lift.
When it came to the safety drill, as compared to pre-Covid, where cruisers had to gather at their assigned muster stations, the safety briefing was carried out wherever we were due to safe distancing rules. We were midway through dinner at the Seafood Grill by Mark Best when a safety announcement was made 45 minutes before departure, while a staff did a live demo on how to put on a life jacket.
These demos are conducted at 36 venues across the ship, while guests who are in their staterooms are able to watch the safety video on their televisions. In a way, this allowed us to still receive the safety instructions, sans the hassle of traditional assemblies.
Guests at Little Dreamers Club observing safe distancing
Holidaymakers who appreciate space and exclusivity will relish the heightened sense of privacy that the new normal of cruising offers. In keeping with Covid-safe rules, cloth signages mark off seats at dining venues to maintain social distancing. Guests sit at alternate tables, with no more than five people per table. Visits to the swimming pools are by pre-booked hourly timeslots, with a 26-person cap in the main pool, and 16 in the private pool, while two people are allowed in each of the Jacuzzis at any one time.
On the final night, we even had the entire private pool deck to ourselves as we soaked in one of the four outdoor hot tubs.
Self-service at F&B buffet restaurants like The Lido have been suspended, with guests served by crew members donning face masks and disposable gloves
Crew onboard the ship were vigilant and proactive about reminding guests to adhere to safety protocols, such as maintaining a 1m distance from others. While lunching at the Palace Restaurant, when my companion reached out to scoop a serving of char kway teow off my plate, we were stopped by a staff member, who handed us an extra plate for sharing purposes. Once, we were also told to pull our mask up when it slid down our nose, and another time, to keep our face mask on when ambling around the all-day diner The Lido, where à la carte meals replace self-serve buffets.
A signage at the Palace Restaurant reminding diners to wear a face mask in all public areasAutomatic handwashing stations – which spurt out water, soap and paper towels – are located at select dining venues across the ship
Temperature screening and scanning of ID card for entry into onboard facilities come as second nature to us. The ubiquity of hand sanitiser dispensers throughout the ship was a welcome convenience, as were handwashing stations at F&B spots. All around the ship were social distancing and one-way system floor decals designed to prevent cross-contamination. Some 40 cruise ambassadors also help to ensure safe distancing onboard.
Generally, we found that the new safety protocols including capacity limits did not put a damper on the cruising experience on this particular sailing, which hosted 1,400 guests onboard the 3,376-pax cruise ship, including 200 media personnel and travel agents.
The only time the capacity limits posed a slight inconvenience was when we were making reservations through our affable butler for the hugely-popular Teppanyaki restaurant – it was fully booked on many timeslots over the three days. The upside? My companion and I had the table all to ourselves, and could enjoy a private tête-à-tête dinner, away from prying ears.
There was also a short wait at the rock climbing station, as only two people were allowed to scale the wall at any one time.
All the rules on land translate to onboard. Although current Covid rules dictate that we couldn’t enjoy a cabaret act at the Chinese restaurant Silk Road, croon to Jacky Cheung’s ditties at the KTV lounge, or admire an aerial acrobatics performance at the three-storey Bar 360, there were enough activities onboard to keep us occupied over three days.
We went rock climbing, teed off at the mini golf-course, had an invigorating foot rub at the spa, shot skeletons at the VR game zone Esc Experience Lab, and rode a waterslide where water kept shooting up our nose.
Seats marked out for social distancing at one of the motion simulator rides at Esc Experience Lab
Social distancing also means up-close interaction between the actors and the audience during live performances at the Zodiac Theatre are off the cards. Back-of-house tours also belong in the past. To wit, during the Verry Christmas signature show, a male performer in drag began flirting with a male audience member, teasing about planting a kiss on him, before turning on his heels and going, “Cannot lah! Coronavirus!”
Fogging with hospital grade disinfectants is done after every show at the Zodiac Theatre
With a 250-person cap limit, more showtimes have to be run at the 999-capacity Zodiac Theatre. For the Verry Christmas show, guests were allocated to show timeslots based on deck levels. The premises is also disinfected using fogging machines after every show. Sanitation is done twice a day at all staterooms and suites, every four hours at public areas, and on a two-hourly basis at high touchpoints such as lift buttons and door knobs.
Seven staterooms turned into negative pressure isolation cabins to house suspected and positive Covid cases
At the 24/7 medical centre, walk-ins are banned, with all consultations to be pre-accessed via phone. Two doctors are onboard each sailing, with one doubling up as infection control officer. Seven staterooms have been converted into isolation cabins to house suspected and positive cases, with 34 quarantine rooms reserved for close contacts.
This PCR testing machine can detect Covid-19 within an hour
In the laboratory sits a US$109,000-priced Covid-19 polymerase chain reaction (PCR) testing machine, which can spit out results within an hour, and not only detect Covid-19, but also 22 other respiratory diseases and bacteria like influenza.
The medical facility houses an assessment room, stocked with equipment for blood tests and the likes, for suspected Covid cases
If there is a suspected case, a nurse wearing full PPE will go to the patient’s room and bring him or her to the ward for further assessment. While waiting for the results, the patient will be put in the isolation cabin, which once activated, will be in negative pressure to prevent air leakage out of the room. Meanwhile, contact tracing will be carried out in case of a need to bring close contact cases into quarantine rooms. If the guest tests positive for Covid-19, all activities will seize and all guests asked to return to their cabins, while the ship will return to Singapore shores in less than six hours.
All 187 crew members onboard are also subjected to stringent measures, including completing a 14-day quarantine on the cruise ship prior to Dream World’s arrival in Singapore end-October. They also have to undergo a further series of mandatory Covid-19 testing and must test negative before signing up for active duty.
Social distancing floor stickers remind guests to keep a 1m safe distance from others as they disembark the ship
Disembarkation was a breeze. From leaving our suite to arriving at the taxi stand, the whole process took a mere 19 minutes. Disembarkation was conducted in sequential order by deck, each assigned to different timeslots.
Cruise passengers undergoing a second Covid swab test at a makeshift facility upon disembarkation (Credit: Genting Cruise Lines)
World Dream’s two- and three-night Super Seacation cruises start from S$259 per pax, for bookings before November 30. For more information, visit www.dreamcruiseline.com.
Discova has launched its 2020-2021 destination guides, designed to showcase its upcoming programmes and responsible travel offering alongside useful destination information to trade partners.
Destination guides are available for Thailand, Vietnam, Indonesia, Singapore, Cambodia, Japan, Myanmar, and Costa Rica.
Discova’s 2020-2021 destination guides include a beach escape in the Andaman sea
The launch comes as more countries in Asia and Latin America take cautious steps towards reopening their borders to international travellers.
Discova’s 2020-2021 guides aim to provide partners with the destination information they need to advise their customers and offer trips and experiences that are tailored to their needs.
Itineraries range from a beach escape in the Andaman sea to a trek in the biodiverse rainforest of Costa Rica and a community project in the mountains of Thailand.
Andrew Turner, global sales director for Discova, said: “Our partners are telling us that travellers are increasingly looking for single destination experiences rather than multi-country itineraries. Our country specific guides which are a concentrate of our offerings and expertise in responsible and sustainable tourism for each destination will help our partners and their customers achieve their travel ambitions.”
Digitalisation and innovation are key for SMEs to survive the pandemic as the travel industry emerges from the crisis, according to a report by the PATA, conducted by Twenty31 Consulting and supported by Agoda, revealed at the World Travel Market.
PATA’s research report, titled The role of Online Travel Agencies (OTAs) in supporting Asia-Pacific SMEs in Recovery, aims to provide insights to benefit SMEs in the hospitality and tourism space that make up a large proportion of travel providers, as they pivot and adapt amid Covid-19.
SMEs’ success lies in leveraging data and technology to ease Covid pressures: PATA
With the pandemic dramatically changing how and where consumers travel, it is essential for hospitality businesses, especially SMEs, to adapt their operations to thrive within a digital global ecosystem. The report highlights key areas where digital travel platforms and governments can support tourism SMEs in the Asia-Pacific region.
SMEs are leveraging OTAs’ digital platforms to accelerate recovery. There is a shift in the dynamic of the relationship between SMEs and OTAs, with the latter being acknowledged and increasingly valued as a technology, data and marketing partner.
It is vital for SME hospitality providers to understand trends and reach new audiences during these times. SMEs leveraging OTAs can reduce their top-down investment, especially around payments features, customer support and marketing efforts. OTAs have also expanded opportunities for destination diversification, helping to drive tourism in second and third tier cities.
“We have seen a real push for OTAs to do more than simply selling rooms. They are helping us with other services, and this is really helping us forecast our needs and drive more sales,” said a hospitality SME in Thailand.
The use of data insights will future proof SMEs as they navigate today’s ever-changing landscape of the travel and tourism industry. OTAs are technology partners that can help provide SMEs with a comprehensive understanding of data insights to enhance their businesses.
Data insights can be used to optimise revenue through meta-search, machine learning, artificial intelligence, product diversification and platform centralisation.
“OTAs are now using AI tech to tailor offers to customers and that is going to be very interesting. This will likely allow SMEs to match our products and services with high-potential consumers and drive better ROI,” said a hospitality SME in Singapore.
SMEs call on governments to work with OTAs to boost post-Covid travel recovery. During this crucial recovery period, more private-public collaboration will boost travel confidence, where the local government can draw on the private sector’s commercial expertise to spot and create new opportunities to improve the industry, businesses and lives impacted by Covid, as well as stay relevant in the transforming economic environment.
The study also looks at the changing landscape of the travel and tourism industry and how OTAs have rapidly accelerated the growth in the region where Asia-Pacific-based OTAs represent more than a third of global gross bookings.
Mario Hardy, PATA CEO, said: “OTAs play a crucial role in the recovery process, where SMEs can leverage their data and digitise in order to adapt and build long-term resiliency. We are optimistic that the industry will eventually recover with governments and private sectors coming together to ensure that no one gets left behind.
“We look forward to working with our partners, such as Agoda, as we continue to hear from SME operators and how we can advance the discussion around the future of travel and tourism in the Asia-Pacific region, one that is sustainable and inclusive for all.”
The Maldives Marketing and Public Relations Corporation (MMPRC) has launched a major campaign with Skyscanner to promote the country as one of the safest destinations in the world for tourists.
The three-month campaign will target the UK, as well as the Italian and Russian markets – the Maldives’ top three key markets pre-pandemic – and is expected to reach 50 million people across the three markets.
The Maldives teams up with Skyscanner on campaign to woo travellers from the UK, Italy and Russia back to the island country
With the aim of assuring potential travellers that the Maldives remains one of the safest destinations amid this unprecedented time, the campaign will focus on highlighting the unique geographical formation of the island nation and the isolation and seclusion it provides as a result.
Following the UK government adding the Maldives to its safe travel list, Skyscanner observed an impressive 282 per cent increase in searches, highlighting underlying demand to travel.
Under the campaign, a page will be dedicated to the Visit Maldives tourist board on Skyscanner platforms, targeting the three markets in their native languages. Through this page, content will showcase different experiences for tourists and highlight the exclusivity that the Maldives offers.
How does STB envisage the industry taking up more AR technology? What innovative ideas have you seen working well for Singapore?
We are already beginning to see the adoption of AR technology within the tourism sector. For example, the National Heritage Board (NHB) is partnering with SmartGuide to design digital trail guides using audio, geolocation and AR for three NHB heritage trails at Orchard Road, Little India and Balestier.
This project aims to encourage locals to discover our national heritage with entertaining multimedia content. The mobile app will also collect and evaluate data from the trail routes to provide a better understanding of visitor behaviour.
To showcase the potential uses of the AR content, STB’s in-house development team is developing a variety of prototypes to help visualise the possibilities of using AR, such as enhancing customer engagement at places of interest, augmenting tour experiences, gamifying exploration, and creating focal points for repeat visitorship and social media engagement.
What are some of the potential barriers to adoption of AR solutions among local players, and how is STB working to address such barriers?
One of the key hurdles that businesses face in creating this type of digital content is that it can be costly to develop and maintain. Our aim is to create 1,000 pieces of high-quality AR content, such as Singapore icons, cultural and heritage items, and make them available to industry partners over the next few years. The 3D models – with or without animation – will be developed and uploaded to the Tourism Information and Services Hub (TIH) for tourism stakeholders to access for free.
These assets can be used to create AR experiences within their digital channels such as apps and websites for customers, (and will be) released for use starting from next year. We look forward to industry partners also contributing to this pool of AR content.
Will there be any standardisation or regulation surrounding the production and use of AR assets?
For content creators who would like to leverage on TIH, our AR team will establish a set of standards for both technical format and quality. The intent of these standards is to enhance the reusability of AR content across the industry, and reduce friction in integrating different types of AR content.
For example, stakeholders will be able to download 3D models from TIH (with) assurance that the models conform to a set of standards, thus, reducing the time and cost of development.
With the necessity of contactless transactions and virtual engagement now, how can tourism businesses navigate the sentiment that technology cannot replace the human touch?
We are not against the adage. The key point of leveraging technology is to let it take over mundane and repetitive tasks, so that our precious manpower can be devoted to delivering impactful customer service.
Given the pandemic, we do not foresee mass leisure travel to resume soon. This is a good opportunity for our tourism and lifestyle businesses to explore new ways to allow consumers to experience Singapore from afar, stay top-of-mind, and build demand as the market recovers. AR technology allows our tourism stakeholders to add an extra dimension of interactivity.
Do you envisage some types of hybrid tourism products arising from this?
When recovery happens, AR can be used to bridge the online-to-offline divide as part of STB’s vision to create the end-to-end “One Singapore Experience” and deliver a seamless and memorable experience. Tourism businesses with strong AR capabilities will then be able to deeply engage customers from pre-arrival to post-arrival, delivering richer, more memorable experiences at our places of interest.
Earlier this year, STB launched a pilot of the Tourism Transformation Index (TXI) that allows businesses to self-assess their state of transformation.
How has the TXI aided the recovery of participating stakeholders thus far?
Several tourism businesses, such as Amara Hotels & Resorts and Park Hotel Group, have undergone the TXI assessment as part of our Lighthouse Account programme. Their TXI score will help us co-develop a digital transformation strategy to identify new opportunity areas and improve their business outcomes as they plan for recovery. The digital transformation strategy will be accompanied by a roadmap that guides the stakeholders on their next steps.
These key industry stakeholders will be examples for the rest of the industry to showcase the importance of transforming their businesses, especially considering the current challenges. We will be releasing the full-scale version of the TXI on our Singapore Tourism Analytics Network by the end of the year.
With international travel largely off the cards for now, how can local tourism players better tap into domestic demand?
It is in my view that our Singapore residents are very discerning, and our attraction operators will have to innovate either through technology or bundling with other experiences to surprise our domestic crowd. We hope that the SingapoRediscover Vouchers will give our industry an opportunity to do so, and maybe through this, develop new experiences and content that will place them in a better position when travel resumes.