In a recent development, Thailand, in a bid to draw more visitors to help offset weakness in its export sectors, will temporarily waive tourist visa requirements for visitors from China and Kazakhstan from Sept 25 to Feb 29 next year.
KGI Securities has reiterated its 'buy' call and 41.5 cents target price on luxury resorts operator Banyan Tree Holdings (SGX:B58
) , on the premise that tourism recovery is ongoing.
For its 1HFY2023 ended June, the company reported core operating profit of $18.7 million, up from $11.1 million recorded in the year-earlier 1HFY2022. Revenue in the same period was up 21% y-o-y to $143.7 million, led by higher RevPar of 64%.
