ASIATRAVEL.COM HOLDINGS LTD
(Co. Reg. No.: 199907534E)
FY 2008 3RD QUARTER ROOM NIGHTS GROWTH PERFORMANCE AND UPDATES ON NEW PRODUCT DEVELOPMENTS
The Management of Asiatravel.com Holdings Limited wishes to announce the continuing growth in the core online hotel reservation business in the 3rd quarter of FY 2008.
On the average, total online monthly room nights(1) are recording growth of 27%, 23% and 17% in April, May and June 2008 respectively resulting in the 3rd Quarter year-on-year growth of 22%. Together with the 1st Half (October 07 – March 08) growth of 26%, this bring the 1st 3 Quarters year-on-year growth to 25%.
The management also wishes to announce that it is on track in its transformation process from a niche online hotel reservations service provider to a total online hotel and travel reservations service provider.
Consumers can now book flights and dynamic flight plus hotel packages on instant confirmation basis departing from 10 countries, namely Singapore, Thailand, Philippines, Malaysia, Indonesia, Hong Kong, Macau, China, Sri Lanka and UAE. By the end of the year, consumers will be able to book these 2 products departing from all the other major countries in Asia.
In addition, the group will soon be launching multi-language websites in Traditional and Simplified Chinese, Bahasa Indonesia, Thai, Japanese and Arabic. This will enable the group to reach markets in Asia in its local languages.
The global economic slow-down has affected the tourism industry especially long haul travel from US and Europe into Asia. Despite the economic slow-down the group is optimistic to maintain positive room nights growth as it has broaden its hotel destinations footprint and expand its reach into the mass market with the launch of its instant confirmation for flights and flight plus hotel dynamic packages products.
BY ORDER OF THE BOARD
Submitted by Boh Tuang Poh, Executive Director, on 16 July 2008 to the SGX
(1) The room nights are based on bookings received during the said period irrespective of check-in or check-out dates, whereas the recognition of group revenue is based on check-out dates of the bookings.