Macau is coming back

Macau reports visitor arrivals were just under two million in March of this year. That is up 271% year-on-year and up 23% month-on-month. Of those, 1.3 million were from Mainland China. Macau has a long way to go, but it is headed in the right direction.

Providence Equity raises its offer for Hyve

After major shareholders indicated that they were unimpressed, Providence Equity Partners increased its offer by 12%. The new offer values Hyve at US$457 million on a fully diluted basis and values Hyve at US$660 million on an enterprise value basis. The board agreed to accept this increased offer.

Worries over costs of business travel

Sustainability and costs are serious concerns for business travel and event managers in Asia. Despite this, expect trip activity in Asia is forecast to pre-pandemic levels in 2023. “Travel managers in Asia to trim transport, accommodation and F&B costs where they can.”

More details on Japan’s first Integrated Resort

The Osaka based IR is expected to attract 20 million guests, including six million international visitors. When it opens in 2029, the 490,000 m2 site will feature hotels, a conference centre, an exhibition hall, a shopping mall, a museum and a theatre. MGM Resorts International and its local partner Orix Corporation will each own 40% of the facility with various government entities owning the remaining 20%.