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Malaysia Tourism Report Q1 2011
Business Monitor International, Feb 2011, Pages: 55
The Malaysia Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Malaysia's tourism industry.
Preliminary estimates from Tourism Malaysia indicate that the country received 18.24mn visitors over the first nine months of 2010, an increase of 4.9% year-on-year (y-o-y). This continues to place the country in a relatively strong position three quarters of the way through the year, although BMI has now slightly reduced expectations for full-year arrivals back to 24.56mn visitors (representing a rise of 4% y-o-y, down from a previous estimate of 7% annual growth). BMI believes that factors such as the opening of the new integrated resorts at Sentosa and Marina Bay Sands in neighbouring Singapore may have done much to lure tourists away from Malaysia, especially over the second half of the year.
However, BMI remains bullish about the long-term prospects for Malaysian tourism, which continues to benefit from strong government support and a relatively secure and stable political situation. The country offers a range of tourism options, from travel for meetings, incentives, conferences and exhibitions (MICE) to beach holidays, and the government is committed to supporting an industry that is an important generator of foreign exchange.
BMI remains bullish on the long-term growth potential of the Malaysian hotel industry, with several new properties set to open in early 2011. At the high-end, InterContinental Hotels Group (IHG) is to open the InterContinental Kuala Lumpur (formerly the Nikko Hotel KL) in February, following two and a half years of refurbishment works. This 473-room five-star property, located within the Jalan Ampang district of KL, will offer a range of restaurants, alongside gym facilities and a spa. IHG has previously stated its intention to boost its presence in the Asia Pacific region, where it currently operates some 50 hotels.
Also in the luxury segment, Starwood Hotels is to open the 298-room and suite Four Points by Sheraton Sandakan in March. The hotel offers fine dining options, alongside a business centre, over 1,500m² of conference space and a spa. In addition, French hotel chain Accor plans to open the 500-room Pullman Kuala Lumpur at some stage in 2011. Aimed at the business traveller, the property offers extensive meeting and conference facilities, alongside three restaurants and a fitness centre. Australia’s StayWell Hospitality Group is also opening the 444-room Park Regis Kuala Lumpur during H111. This property will also boast extensive conference facilities, as well as a gym and swimming pool. BMI believes that the arrival of this significant number of high-end properties should do much to boost average room revenue rates for Malaysia as a whole.
At the budget end of the market, local chain Tune Hotels opened its 101-room Bintulu property in early January 2011, with a second 173-room property soon to follow at Kota Bharu. This brings its total of Malaysian hotels to nine, with the company also operating three overseas properties, two on Bali and one in London. Tune hopes to open some 15 properties within the Greater London area by 2017.
Developments At Malaysia Airlines
In December 2010, national flag carrier Malaysia Airlines announced that it had signed a memorandum of understanding (MoU) with Dutch airline KLM to investigate potential areas of closer cooperation between the two airlines. The two airlines have already been code share partners for over a decade, so the MoU marks the next logical step in their partnership. In particular, KLM passengers should benefit from greater access to Malaysia Airlines’ existing routes to the Australasia region.
Also, in November 2010, Malaysia Airlines launched an eastern hub at Kota Kinabulu airport in Sabah province. To mark the occasion, the airline made the inaugural flight of its new Boeing 737-800 aircraft from Kuala Lumpur to Kota Kinabulu and then the first flight from Kota Kinabalu to Tokyo.
In addition to direct flights to Tokyo, Malaysia Airlines will also be launching a three times a week service to Perth, Australia as of January 2011. Between now and June 2011, the airline hopes to develop the hub so that a total of six aircraft (two new Boeing 737-800s and four 737-400s) plus 150 flight crew and 250 cabin crew will eventually be based at Kota Kinabalu. Malaysia Airlines will be offering direct flights to Tokyo, Perth, Osaka, Seoul, Taipei, Hong Kong, Kaohsiung and Haneda, with 25 weekly flights to Kuching enabling residents from the provincial capital of Sarawak to link up with these new international flights.
BMI believes that the launch of a new eastern hub at Kota Kinabalu will bring great benefits to both Malaysia Airlines and the Sabah region, which should benefit from greater tourist arrivals. Separately, the airline announced its Q3FY09/10 results in November 2010. This showed the airline returning to profitability, posting a net profit of MYR233mn, on the back of a 15% increase in revenues. The airline is also carrying out a fleet modernisation programme, with the company taking delivery of two new Boeing 737-800 aircraft over Q3 FY09/10 and with plans to purchase more aircraft in 2011.
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