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Public company info - S.A.I. Leisure Group Company Limited , 01832.HK
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S.A.I. Leisure Group Company Limited, 01832.HK - Company Profile
Chairman TAN Siu Lin
Share Issued (share) 360,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Travel & Tourism
Corporate Profile Business Summary: The group is principally engaged in hotel and resort operations in Saipan and Guam, travel retail business of luxury and leisure clothing and accessories in Saipan, Guam and Hawaii and provision of destination services in Saipan. Performance for the year: For the Year, the Group recorded a revenue of US$98.7 million, representing a decrease of US$1.5 million or 1.5% from US$100.2 million in the preceding year. Business Review： 2019 was a challenging year for Saipan. During the Year, the total number of tourist arrivals to Saipan has declined by 6% when compared to that of the preceding year. The Saipan community continues to recover in a steady pace after the sweep of Super Typhoon Yutu in October 2018. Damage to the facilities of Saipan International Airport severely impacted air travels and tremendously reduced the number of tourist arrivals to Saipan during the first half of the Year. South Korea is one of the largest sources of overseas tourists in Saipan. After Super Typhoon Yutu struck, the number of tourist arrivals from South Korea once dropped by 50%. However, with the gradual resumption of routine flight schedules by certain airlines in the second quarter of the Year, the number of tourist arrivals from South Korea steadily restored and had an overall increase of 4% when compared to the preceding year. On the other hand, the launch of daily direct flights between Japan and Saipan by a Japanese carrier at the end November 2019 marked the return of tourists from the Japan market. During the Year, the Marianas Visitors Authority (“MVA”) has prioritized marketing and promotion strategies locally in Japan, which enticed more Japanese travelers to spend their holidays on the Pacific islands. Meanwhile, the Sino-US tension in 2019 weakened the travel sentiment of tourists from mainland China during the Year. In addition, the unrest in Hong Kong has created reluctance for travelers from South China to fly to Saipan via Hong Kong. As a result, the number of tourist arrivals from mainland China has dropped by 14.1%, hence reducing the overall number of tourist arrivals to Saipan during the Year. On the contrary, 2019 was a fruitful year for Guam. With the rise of low-cost carriers, the tourist origin markets for Guam continued to diversify. Guam had attained a record-breaking number of tourist arrivals with over 1.6 million tourists during the Year. The recovery of the Japan market contributed a big portion to the rise of the tourist arrivals number and together with South Korea, the two countries became the largest sources of overseas tourists in Guam. The upturn in tourist arrivals vitalized both the hospitality industry and the retail industry across the territory. Prospects: The global tourism industry faces significant challenge in 2020 due to the impact of the outbreak of COVID-19. Hotels & Resorts Segment In respect of the Group’s Kanoa Resort in Saipan, the Group has entered into an emergency contract with the CNMI Homeland Security and Emergency Management on March 25, 2020 to provide all of its hotel rooms, facilities and meal services to persons subject to the mandatory 14-day quarantine requirement upon their arrival in Saipan. Under the emergency contract, the Group will receive various fees for the services to be provided to the government of the CNMI. The contract will last for 90 days from the date of signing of the emergency contract, subject to adjustment by the CNMI Homeland Security and Emergency Management. The Company expects that revenue from Kanoa Resort during the period of the emergency contract will not be lower than that of the same period in the preceding year. Luxury Travel Retail Segment In order to bolster the Group’s revenue source when the market resumes in the third quarter of 2020, the Group plans to look for expansion opportunities. In order to expand the Group’s footprint in Hawaii, management is seeking to identify strong retail spaces with good adjacencies and reasonable rental conditions for new retail stores. For Guam, management believes that the Group can improve profitability with an expansion into stronger retail spaces and thus lifting operating margins. As for Saipan, management believes that enhancing customers’ overall shopping experience is another means of maximizing sales level. Other plans and prospects On the other hand, in order to maintain the Group’s Group’s long-term growth and for the best interests of the Group’s Shareholders, the Group’s management will actively explore possible merger and acquisition opportunities. The Group’s management believes that the downturn of the macro-economy as a result of the recent COVID-19 outbreak would increase the availability of favorable merger and acquisition deals in the market.

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