JAKARTA, INDONESIA; 28 JUNE 22
MG Group today shared growth data across all Southeast Asia markets demonstrating it has accelerated business growth in the early stages of the recovery. While overall travel levels across the region remain below pre-pandemic levels, MG’s hospitality business is outperforming the market - up more than 38% versus June 2019. Commenting on the June performance William Newley, Vice President Director of MG Group said:
“It is great to see MG strengthening it’s leadership position in SE Asia B2B Hospitality. Rather than pulling back, we stayed focused on delivering for SE Asia supply and demand side customers throughout the pandemic. We have been aggressively adding new buyers, suppliers and tech partners throughout the past two year preparing for the restart of travel. This strong commitment to lead through tough times has enabled us to outperform the overall recovery by a wide margin.”
Volume in all of MG’s SE Asia markets is already above 2019. There is also still a lot of pent-up demand. According to OAG Week of June 13th data, flights across the region are still down by more than 33% versus 2019. International flights within the region are down by 65% versus 2019 levels.
Week of June 13, 2022, Commercial Airline Capacity versus 2019
Brett Henry, President Director of MG Group said:
“While flight and overall occupancy levels remain below 2019 at the market level, it’s encouraging to see our business levels surge well past pre-pandemic levels. The macro level environment provides a lot of tailwinds for additional growth with airlines restoring capacity, the corporate travel re-start strengthening, and in the longer term the return of China outbound travel. China was Southeast Asia’s largest inbound market pre-pandemic.”
Market specific highlights are as follows:
Indonesia
Indonesia bookings lead the way up 55% versus June 2019. The top 5 Indonesia destinations in June include Bali, Jakarta, Bandung, Surabaya, and Yogyakarta. ASP is tracking at 1.4M IDR and included and average of 2.1 room nights per booking. The performance is driven by all segments of domestic travel including government, MICE, business and leisure.
Singapore Singapore bookings have recovered quickly since the easing of restrictions and June MTD MG’s bookings are 19% above pre-pandemic levels and continue to accelerate. May / June volume growth shows the growth velocity in the market up more than 56% month-on-month. Malaysia Malaysia is also recovering at a blistering pace. MG’s June MTD volumes in Malaysia are 204% above 2019 levels. Top destinations include Kuala Lumpur, Penang, Langkawi, Genting Highlands, and Petaling Jaya. ADR’s in the market are currently around 600 MYR. Longer haul source markets including Midde-East and India are performing strongly.
Thailand Thailand has dramatically relaxed entry restrictions and is reaping the benefits in June. MG’s business volumes in the market are now 40% above 2019 levels. The growth is increasing with May versus June volumes up 50%. MG expects further growth in Thailand volumes as the market will drop the Thailand Pass requirements beginning July 1 Vietnam MG’s Vietnam June volumes are up an incredible 305% versus June 2019. Top destinations in the market in June are Ho Chi Minh, Hanoi, Da Nang, Nha Trang, and Phan Thiet. ASP in the market in June are running at 3.1M VND. Philippines Philippines recovery is also strengthening. MG’s business volumes are already 58% above June 2019 levels in the market. South Korea is the leading inbound market for MG’s growth in the philippines.
ABOUT MG GROUP
MG Group is Building the Future of B2B Hospitality.
We do this by leveraging technology platforms to provide distribution and marketing services that drive sustainable, profitable growth for our hotels, corporations, and travel sellers. We are technology focused, but customer driven.
MG Bedbank is the Leading B2B Hospitality Marketplace.
We have thousands of direct hotels contracts across SE Asia and hundreds of thousands of global hotels via partners all dynamically distributed to our global B2B seller network using the industry's first microservices based platform, MG Jarvis.
For more information:
Visit our website, https://www.mgholidaygroup.com/
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