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Banyan Tree shares hit 52-week high on hopes of Thai tourism rebound

Its chairman says it's early days, but its resorts in the reopened Maldives show promise

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Published Tue, Mar 30, 2021 · 09:50 PM

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    THE shares of Singapore-listed resorts operator Banyan Tree Holdings, which had eight hotels and six spas in in its Thailand portfolio as at last December, have been rallying lately.

    Last Friday, the counter closed at a 52-week high of S$0.39, with this optimism possibly linked to the recent easing of travel restrictions in Thailand.

    A panel led by Thai Prime Minister Prayuth Chan-ocha, in a bid to resuscitate the kingdom's pandemic-battered tourism industry, has given the go-ahead for the mandatory quarantine period for foreign travellers to be cut from two weeks to 10 days, starting April 1.

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