Hotels, Resorts & Cruise Lines

Kyoritsu Maintenance has released preliminary sales figures for August and the year to date that are higher than those reported for the same periods in 2025. The update arrived alongside a stretch of rising market interest, with the shares up 13.97% year to date and 13.21% over 90 days, while the 5 year total shareholder return of 63.39% points to momentum built gradually over time. The stock closed at ¥3,279, and on a P/E of 16.4x it is valued at a lower earnings multiple than both its sector and the broader hospitality peer group, whose average P/E stands at 21.7x, against an estimated fair P/E of 22.3x. The SWS DCF model points the other way, with the shares sitting well above an estimated future cash flow value of ¥730.86, implying the stock screens as overvalued on a cash flow basis. Kyoritsu Maintenance relies heavily on Japan-based demand and broad exposure to hospitality and development cycles, which can pressure earnings if conditions weaken.

Metaplanet announced on October 5 that it acquired a net 1,000 BTC between July and September, the third quarter of its fiscal year ending December 2026, bringing its holdings to 44,000 BTC. According to BitcoinTreasuries, which tracks corporate Bitcoin holdings, the company is now the world's second-largest listed corporate holder after US-based Strategy. Strategy resumed its weekly purchases, adding 334 BTC worth about 24 million dollars, and Bitcoin rebounded to 86,970 dollars on Monday. Metaplanet sees popularizing Bitcoin among gamers as a new business opportunity through its US Bitcoin operations, according to a letter to shareholders dated October 6 from Matthew Edelman, CEO of the US gaming and advertising company Super League Enterprise, which Metaplanet plans to acquire. Meanwhile, Bitmine said it will stop adding to its Ethereum holdings once they reach 5% of total supply, and Ethereum fell 5% on Wednesday to 2,553 dollars. The company holds about 6.02 million ETH, worth roughly 15.46 billion dollars, equivalent to 4.927% of Ethereum's supply. Blockchain analytics firm Chainalysis said on October 5 that Japan's crypto asset economy was worth 228.3 billion dollars, or about 36.5 trillion yen, from July 2025 to June 2026, ranking second in East Asia after South Korea's 449.1 billion dollars, or about 71.9 trillion yen.

Pride Holdings Group has officially launched Pride Cell, a new mobile service created by and for the LGBTQ+ community, in partnership with Perch Mobile and utilizing the AT&T network. The introductory Unlimited Plan costs $13.33 per month for the first three months, then $29.99 per month thereafter, and $1 from every monthly Pride Cell bill will go directly to The Trevor Project, the crisis intervention and suicide prevention organization for LGBTQ+ young people. CEO Tim Majors said the service combines competitive pricing with a brand built specifically around the LGBTQ+ community, and that the Perch Mobile partnership lets the company bring the vision to market as it expands the Pride Holdings Group ecosystem. The company expects to support the launch through digital marketing, community outreach, cross-promotion across its portfolio, and strategic partnerships. Pride Holdings Group is a publicly traded holding company focused on acquiring, operating, and scaling LGBTQ+ oriented hospitality, nightlife, entertainment, and real estate assets.

Carnival Corporation reported better-than-expected third-quarter fiscal 2026 results on Sept. 29, with adjusted earnings and revenues surpassing the Zacks Consensus Estimate by 5.1% and 0.9%, respectively. Adjusted earnings per share came in at $1.43, unchanged from the prior-year quarter, while revenues of $8.44 billion rose 3.5% year over year, with passenger ticket revenues up 1.8% and onboard and other revenues up 6.7%. Adjusted EBITDA totaled $2.99 billion, unchanged year over year but $110 million above June guidance, and the company raised its fiscal 2026 adjusted EPS guidance to $2.24 from $2.22 and its adjusted EBITDA outlook to approximately $7.14 billion from $7.11 billion. Customer deposits reached a fiscal third-quarter record of $7.64 billion, up approximately 7% year over year, with roughly half of fiscal 2027 already booked at record advance occupancy and pricing. Total debt declined to $23.91 billion at Aug. 31, 2026, from $26.64 billion at the end of fiscal 2025, and Carnival repurchased approximately 45 million shares for nearly $1.2 billion while paying $618 million in year-to-date dividends. Shares of Carnival have gained 18.1% since the earnings release but remain down 14.4% year to date.

Viking Holdings announced it has taken delivery of the Viking Rota, the cruise line company's newest European river ship. The 190-guest vessel joins the Viking Longship fleet and will sail on the Rhine, Main, and Danube rivers. The ship has 95 staterooms and features Scandinavian design, a patented square bow that accommodates three full decks, an indoor/outdoor Aquavit Terrace, and an asymmetric corridor layout that allows for true two-room suites. Planned itineraries include Rhine Getaway, Grand European Tour, Danube Waltz, Tulips & Windmills, Christmas on the Rhine, and Danube Christmas Delights. The delivery supports Viking's broader fleet-growth strategy; based on its committed order book, the company expects to receive 18 additional river ships by 2028, 11 additional ocean ships by 2032, and two additional expedition ships by 2031, bringing the total fleet size to 114 river ships in 2028 and a combined 28 ocean and expedition ships in 2032.

Marriott International agreed a deal to add eight hotels to its portfolio in the Netherlands, including the launch of the Series hotel brand in the Dutch market for the first time. The US hospitality group, which carries a market value of about $94.2b, also opened JW Marriott's first all-inclusive resort in Costa Rica, a new format for the luxury flag. Marriott runs and licenses hotels, resorts, residences, and timeshare properties across regions that include Europe and Latin America. The company's disclosed global rooms pipeline stands at roughly 629,000 rooms, and investors can watch the next quarterly update for any change, especially in luxury, premium and all-inclusive formats that can carry higher fee rates over time.

Royal Caribbean Cruises Ltd. raised its 2026 adjusted EPS guidance to $17.73-$17.87, roughly 14% above 2025 levels, as the cruise operator reported second-quarter 2026 revenue of $4.83 billion, up from $4.54 billion a year earlier, with diluted EPS of $4.20 and adjusted EPS of $4.21. The company, which operates 71 ships across Royal Caribbean, Celebrity Cruises and Silversea plus a 50% stake in TUI Cruises, said higher capacity and pricing drove the revenue increase while strong demand and cost control supported earnings. Management expects 6.6% capacity growth in 2026 alongside 1.75%-2.25% constant-currency net yield growth, though for the third quarter it guided to 8.5% capacity growth with roughly flat constant-currency net yields. The stock trades at 14.51 times trailing earnings and 11.40 times forward earnings, with a PEG ratio of 0.95, a price-to-sales ratio of 3.41 and an enterprise-value-to-EBITDA multiple of 11.61. Adjusted EPS reached $15.64 in 2025, up from diluted EPS of $10.94 in 2024 and $15.61 in 2025.

ASL Securities estimates that MINT, or Minor International Public Company Limited, will post continuous operating growth during 2026F-2028F, driven mainly by its hotel business, which accounts for roughly 80% of total revenue. The analyst team expects total revenue of 166 billion baht, 169 billion baht and 172 billion baht respectively, or growth of 3.5%, 2.1% and 1.7%. The food business is expected to grow by an average of about 2.0% per year, while normalised net profit from operations is forecast at 9.7 billion baht in 2026F, 10.6 billion baht in 2027F and 11.2 billion baht in 2028F, equivalent to EPS of 1.72 baht, 1.86 baht and 1.98 baht per share respectively. For the third quarter of 2026, the analyst team expects revenue of about 41.6 billion baht, up 3.0% from the same period a year earlier but down 4.1% from the previous quarter on seasonal factors, and net profit of 2.8 billion baht, up 9.5% year on year but down 15.5% quarter on quarter. In addition, MINT has postponed its plan to set up a real estate investment trust, or REIT, for its hotel business with a value of about 1 billion US dollars, or roughly 30 billion baht, which would bring 14 hotels in Europe and Thailand in as core assets and list on the Singapore Exchange, moving it from the second half of 2026 to 2027 because of geopolitical uncertainty and risks from the war situation in the Middle East. The analyst team assesses MINT's fair value at 28.50 baht, based on an EV/EBITDA method at 5.7 times on 2027F EBITDA estimates.

A securities analysis recommends MINT, or Minor International, with a target price of 28.50 baht, based on an EV/EBITDA valuation of 5.7 times, applied to 2027 forecast EBITDA, which is about 5% below the pre-COVID-19 five-year average, to reflect risks from debt levels that remain high relative to target, the delay in establishing a real estate investment trust, or REIT, for hotels, and risks from the Middle East. MINT plans to set up a hotel REIT valued at 1 billion US dollars, or about 30 billion baht, bringing 14 hotels in Europe and Thailand in as core assets, and preparing to list on the Singapore Exchange, or SGX, but it has announced a delay from the originally planned second half of 2026 to 2027 because of geopolitical uncertainty and war risk in the Middle East. For overall operating results in 2026 to 2028, total revenue is expected at 166 billion, 169 billion and 172 billion baht, growing 3.5%, 2.1% and 1.7% respectively, with the hotel business contributing about 80% of total revenue, and normalised net profit is expected at 9.7 billion, 10.6 billion and 11.2 billion baht, or earnings per share of 1.72, 1.86 and 1.98 baht respectively. For the third quarter of 2026, revenue is expected at 41.6 billion baht, up 3.0% year on year but down 4.1% quarter on quarter, with net profit expected at 2.8 billion baht, up 9.5% year on year but down 15.5% quarter on quarter. On the technical side, the recommendation says that those already holding the stock or looking to add can expect a test of resistance at 20.80, 21.20 and 22 baht, while those without the stock should buy short term, focusing on holding support at 20.20 to 20 baht.

The Erawan Group Public Company Limited, or ERW, has signalled that its third-quarter 2026 operating results will come in better than expected, driven by a strong recovery in the Middle East tourist market after the war situation eased and by continued signs of recovery in the Chinese tourist market. Miss Tawanna Termwattanakorn, investor relations officer at ERW, said these factors helped room rates at hotels ranging from Economy to Luxury, especially hotels in the Bangkok CBD area, improve beyond the company's expectations. Meanwhile, the budget hotel business under the HOP INN brand is still performing in line with expectations; although the third quarter is a low season, it received support from corporate customers and domestic business travel. For the fourth-quarter 2026 outlook, the company sees forward bookings at a good level, with long-haul markets beginning to show bookings for stays from late November through December, together with the high season and major conferences and events such as the annual meetings of the International Monetary Fund and the World Bank, as well as the Tomorrowland music festival in the Pattaya area. The company expects average occupancy in the second half of 2026, including the fourth quarter, to be around 80 percent, and is maintaining its target of roughly 6 percent revenue growth in 2026 from the previous year under the original plan. It will continue to open new HOP INN hotels in Thailand as planned, while its overseas expansion has projects that are already clear and it continues to study additional opportunities.

ASL Securities initiated coverage on Minor International, or MINT, with a Buy rating and a 2027 target price of 28.50 baht, against a market price of 20.40 baht, implying 39.70% upside. It also forecast dividend yields of 3.4% in 2026, 3.6% in 2027 and 3.9% in 2028. The research team expects normalized net profit for 2026 to 2028 to grow steadily to 9.756 billion baht, 10.573 billion baht and 11.222 billion baht, or earnings per share of 1.72 baht, 1.86 baht and 1.98 baht respectively, with total revenue of 166 billion baht, 169 billion baht and 172 billion baht, growing 3.5%, 2.2% and 1.6% respectively. For the third quarter of 2026, total revenue is expected at 41.6 billion baht, up 3.0% year on year, and normalized profit at 2.8 billion baht, up 9.5% year on year, supported by higher advance room bookings than a year earlier thanks to global events such as Formula 1 and the IMF-World Bank Meetings in Thailand. Meanwhile, the plan to set up a hotel real estate investment trust worth 1 billion US dollars, or about 30 billion baht, which would list 14 hotels in Europe and Thailand on the Singapore Exchange, has been delayed from the second half of 2026 to 2027 because of geopolitical uncertainty and war risk in the Middle East.

Royal Caribbean Cruises Ltd. is entering 2027 with booking momentum and record pricing, with management saying early 2027 bookings are pacing ahead of historical levels at higher prices and booked load factors remain elevated. The company's expanding portfolio supports that outlook: Hero of the Seas is scheduled for delivery in the third quarter of 2027, while Celebrity Compass and Celebrity Seeker are expected to enter service in the second and third quarters, respectively. Royal Caribbean is also leaning on technology and loyalty, with AI-driven pricing models managing roughly $20 million and growing price points, and Points Choice and Status Match generating more than half a million new loyalty enrollments, while more than 90% of guests use the company's app and over half of onboard revenues are purchased before embarkation. Among peers, Carnival Corporation Ltd. is already about half booked for 2027 with occupancy and pricing at record levels and expects only modest capacity growth, while Norwegian Cruise Line Holdings Ltd. is shifting to a baseloading approach and expects the first half of 2027 to remain pressured, particularly the first quarter, before sequential improvement. Royal Caribbean shares have declined 12.6% in the past year compared with the industry's 7.2% fall, and the stock trades at a forward price-to-earnings ratio of 14.06 versus the industry average of 15.81, with the Zacks Consensus Estimate for 2026 earnings implying a year-over-year increase of 13.8%.

Dao Securities rates the tourism sector "overweight" after tourist arrivals in the week of September 27 to October 3 rebounded 8% WoW, better than expected thanks to the Golden Week period, with the increase driven mainly by travellers from China, India and Russia. Excluding Malaysian tourists, arrivals still rose 10% WoW and 6% YoY, while Chinese tourists rose 2% YoY, slowing from 19% YoY the previous week. The research team believes arrivals bottomed out in the second quarter of 2026 and will recover strongly in the fourth quarter of 2026 on the high season and several events in December 2026. It expects total arrivals in 2026 at 32 million, down 3% YoY from 33 million in 2025, which itself fell 7% YoY, and forecasts Chinese tourists in 2026 at 4.8 million, up 7% YoY from 4.5 million in 2025, which fell 34% YoY. The stocks that benefit, ranked by their share of domestic hotels from highest to lowest, are ERW, CENTEL, MINT and SHR. CENTEL is the top pick with a target price of 48.00 baht, as third-quarter 2026 RevPAR excluding Dubai rose 5% YoY and fourth-quarter 2026 on-the-book bookings rose 13% YoY. ERW, with a target price of 4.20 baht, benefits from the World Bank and IMF meetings in October 2026 and Tomorrowland in December 2026, with bookings continuing to push the occupancy rate as high as 80% already.

Asia Plus Securities said in a research note that Thailand's tourism sector still looks set for solid growth. During China's Golden Week from September 27 to October 3, 2026, Thailand received 522,532 foreign arrivals, up 8% from the previous week, driven by 133,946 Chinese tourists, a rise of 42% from the prior week. Although foreign arrivals in the third quarter of 2026 fell 5% year on year, they rose 3.5% from the previous quarter, and excluding the Malaysian market the decline was only 0.9%. Key markets continued to expand, with China up 12%, Europe up 1.5%, the Middle East up 13% and the Americas up 1.5%. The standout point is that hotel revenue is still growing faster than visitor numbers. Forward booking data indicates that revenue per room for CENTEL and MINT is likely to rise about 10-13% from a year earlier, while ERW targets revenue growth of 7% from a year earlier. International passenger volume at AOT in July to September 2026 fell 1.9% year on year, in line with the foreign tourist trend when the Malaysian market is excluded. As for the next catalyst, the market is watching the annual meetings of the International Monetary Fund and the World Bank from October 12 to 18, 2026. Large international events of this kind are likely to benefit hotel operators such as ERW, AWC and CENTEL more directly than airport or airline businesses. On investment strategy, the brokerage remains positive on Thailand's tourism group, picking CENTEL as its top stock on the back of strong hotel business profit trends, while AOT and ERW remain attractive as stocks that stand to gain from international events and the recovery of Thailand's tourism sector.

Asia Plus Securities said the Golden Week holiday boosted weekly foreign tourist arrivals to Thailand to 522,532 during September 27 to October 3, rising about 8% week on week, driven mainly by China at 133,946, up 42% week on week. After Golden Week, sentiment is supporting investment ahead of the IMF-World Bank meeting from October 12 to 18, which the brokerage views as a major event that will lift revenue for hotel operators such as ERW, AWC and CENTEL more than for AOT and airlines. Hotel revenue is outperforming tourist numbers, with checks showing that for the third quarter of 2026, revenue per available room based on on-the-books data for Thai hotels such as CENTEL and MINT rose 10% to 13% year on year. MINT derives 50% of its revenue from hotels in the EU, while ERW still confirms a target of 7% year-on-year revenue growth. The research team remains focused on Thai tourism and picks CENTEL for its earnings momentum from the hotel business, followed by AOT and ERW as an event trade and a proxy for Thai tourism, and keeps its estimates, expecting hotel operators to be more resilient than airlines going forward given their diversified hotel portfolios, while new hotel openings by CENTEL and ERW will support continued growth over the medium term.

Metaplanet announced on October 5 that it has revised its capital allocation policy, setting a new guideline of allocating roughly 10-15% of total assets to a "strategic investment pool" for M&A and investments. The remaining roughly 85-90% will be held in Bitcoin. The company also announced the same day that it acquired a net 1,000 BTC in the third quarter of the fiscal year ending December 2026, bringing its holdings to 44,000 BTC. The NADA Bitcoin Index stood at about 13.55 million yen per BTC on October 5, which puts the market value of its Bitcoin holdings at roughly 596 billion yen, meaning the 10-15% strategic investment pool equates to about 66 billion to 105 billion yen. The strategic investment pool will be used for three purposes: M&A to build the foundation of a financial business, investment in overseas Bitcoin-related preferred securities, and investment funds for an asset management business, with Metaplanet Securities and SLE cited as M&A examples. Funding will in principle come from means that do not dilute common shares, including corporate bonds, borrowings, credit facilities secured by Bitcoin, and perpetual preferred stock. The guideline set out in the March policy, which called for keeping the outstanding balance of credit facility borrowings to generally less than 10% of Bitcoin's net asset value, will now apply only to borrowings for acquiring and holding Bitcoin, with strategic investment pool funding managed separately and excluded from that limit.

Metaplanet ended the third quarter with 44,000 Bitcoin after a net increase of 1,000 BTC, having sold 10,000 BTC and repurchased 11,000 crypto tokens during the period. The Japan-based crypto treasury company said the sale demonstrated its ability to convert Bitcoin into cash to meet financial obligations while keeping its long-term accumulation strategy intact. Under a revised capital allocation policy, Metaplanet plans to hold 85% to 90% of total assets in Bitcoin, with 10% to 15% allocated to strategic investments, and will use preferred stock, corporate bonds, and Bitcoin-collateralized financing while keeping crypto-related borrowing below roughly 10% of Bitcoin NAV. Its new net interest income strategy will invest in income-generating assets, including preferred securities issued by Bitcoin treasury companies, to fund further Bitcoin purchases. Metaplanet's Bitcoin income generation business produced ¥848 million, or $5.4 million, in third-quarter revenue, bringing nine-month revenue to ¥5.565 billion, or $35.4 million, with a third-quarter Bitcoin yield of 11.3% and an unchanged fiscal 2026 earnings forecast. Metaplanet stock traded about 3% higher at roughly $1.87, while Bitcoin traded near $86,000.

Metaplanet announced on the 5th that it acquired a net 1,000 BTC in the third quarter of its December fiscal year, bringing its holdings to 44,000 BTC as of September 30 and making it the world's second-largest holder. During the quarter it sold 10,000 BTC while purchasing 11,000 BTC; preliminary figures show the sales averaged 12,470,098 yen per BTC for a total of 124.7 billion yen, while purchases averaged 13,626,928 yen for a total of 149.896 billion yen. The sales are intended to demonstrate that Bitcoin can be converted to cash as needed as the company aims to obtain a credit rating, and the sale amount exceeds the total principal balance of interest-bearing debt such as bonds and borrowings, though no repayment or redemption was carried out. On the same day, the company revised its capital allocation policy again, setting a guideline to hold Bitcoin as a core asset at roughly 85–90% of total assets while allocating about 10–15% to a strategic investment framework. The strategic investment framework will be allocated across three uses: M&A toward building a financial platform, investment in assets expected to generate stable earnings, and investment funds for the asset management business, and the company also newly introduced a net interest income strategy that invests funds raised through means that do not dilute common shareholders into assets including overseas Bitcoin-related securities.

PTT Oil and Retail Business Public Company Limited, or OR, has unveiled plans to develop a first phase of six budget hotels together with Central Plaza Hotel Public Company Limited, or CENTEL. OR will hold a 49% stake and CENTEL 51%. Five of the sites are at service stations and one is outside a service station. The first three branches, already under construction, are in Kanchanaburi, Phra Nakhon Si Ayutthaya and Songkhla, and are expected to open in the third quarter of next year. The other three, in Bangkok, Chonburi and Phuket, are undergoing environmental reports and will open in the second quarter of 2028. The six hotels use a combined investment budget of 700 million baht, with construction costs capped at no more than 1 million baht per room. Funding will be split 50% equity and 50% debt. The buildings will be five to six storeys tall, with average room sizes of 18 to 20 square metres and 79 rooms. The company targets a first-year occupancy rate of about 60%, rising to 60–70% in the second year, with a long-term goal of 75–80%. It estimates a gross profit margin of about 50%, an EBITDA margin of 40–45%, an EBIT margin of about 20%, and a net profit margin of no less than 10%. Room rates will range from 800 to 1,300 baht, with a loyalty programme linking Blue Plus Points and The ONE Points. Ratchasuda Rangsiyakul, Senior Executive Vice President of Special Business 1 at OR, said entering the hotel business will help lift traffic at its service stations from 3.9 million users per day to 5 million per day. The first six branches will serve as a pilot to test the system before expanding to a full 50 locations in 2031, and once the model proves successful the company will scale up through franchising. The joint venture will provide management services to a standard, and dealers in the group have already approached the company seeking to open hotels.

Chayut Krailatrattanasiri, Assistant Director of the Research Department at Land and Houses Securities, told the Vision team that the overall outlook for tourism stocks in the fourth quarter of 2026 is clearly quite positive. Although early in the quarter there was pressure from flooding, this is assessed as only a short-term impact. The main supporting factors come from China's Golden Week, a long holiday early in the fourth quarter that has helped drive Chinese tourist arrivals into Thailand higher, with a clear acceleration, as well as Thailand hosting the IMF and World Bank meetings in mid-October, a positive factor in terms of policy and economic activity that directly supports tourism stocks. The research team views hotels as the biggest beneficiaries of the recovery in tourist numbers, expecting fourth-quarter operating results and profits to grow outstandingly. Airlines also benefit, but their upside is limited by still-high oil costs. The three standout hotel stocks named as Top Picks are AWC, with a target price of 20 baht, which the research team is in the process of reviewing upward on structural positives from the establishment of AWR that will help unlock asset value and increase liquidity; ERW, with a target price of 80 baht, which is assessed as still offering upside for investment; and CENTEL, with a consensus target price of 50 baht.

Travel + Leisure Co. announced the introduction of Trail Partners, a new network of outdoor hospitality partners that lets Eddie Bauer Adventure Club owners use their club credits to book stays and excursion add-ons. Under Canvas is the first Trail Partner named, giving owners access to all 18 Under Canvas properties across North America. Owners can book Trail Partner stays through the club's dedicated travel agency, which helps them explore participating destinations, check availability and apply credits toward eligible stays. The Eddie Bauer Adventure Club, operated by Travel + Leisure Co. under a license from Authentic Brands Group, opened its first Basecamp location in Moab, Utah earlier this year. Beyond Basecamps and Trail Partner stays, owners receive 50% off regularly priced Eddie Bauer apparel and gear online, automatic Guide-Tier status in the Eddie Bauer Adventure Rewards Program, and one complimentary annual excursion for two people.

Norwegian Cruise Line Holdings Ltd. said in late September 2026 that it expects third-quarter results to exceed prior guidance, reaffirmed its full-year 2026 outlook, and reported record booked occupancy and pricing for 2027 alongside strong 2028 bookings. The company is supporting that outlook with a planned US$750 million senior notes offering due 2031, whose proceeds it intends to use to redeem its 6.125% notes due 2028 and pay down revolving and export credit facilities. The combination of better-than-expected revenue trends, record forward bookings and active balance sheet management points to a business focused on improving both earnings quality and financial resilience, though high interest costs and leverage remain the biggest risk. Norwegian's narrative projects $11.6 billion in revenue and $895.5 million in earnings by 2029, requiring 4.5% yearly revenue growth and a roughly $134.7 million earnings increase from $760.8 million today. More optimistic analysts assume revenue of about US$12.1 billion and earnings of US$1.1 billion by 2029, weighting balance sheet repair and future yield improvement more heavily than the baseline case.

Chase and IHG Hotels & Resorts announced a new IHG One Rewards Premier Select Credit Card alongside enhanced benefits across the rest of the IHG One Rewards card portfolio. The new Premier Select card carries a $350 annual fee and offers more than $1,000 in value in the first year, including up to $300 in annual Food & Beverage Rewards, a $200 annual airline statement credit, up to $50 United TravelBank Cash, an Anniversary Free Night with a 60,000-point redemption cap, up to 28X total points on IHG stays, automatic Platinum Elite status and 20 Elite Night Credits each calendar year. The three updated cards are the IHG One Rewards Premier Credit Card at a $150 annual fee with over $700 in first-year value, the no-annual-fee IHG One Rewards Credit Card formerly known as the Traveler Card, and the IHG One Rewards Business Credit Card at a $200 annual fee with over $750 in first-year value. Existing cardmembers will be notified in October about the new and enhanced benefits and each update's effective date, with annual fees adjusted in 2027. Through November 18th, limited-time launch offers let new Premier Select cardmembers earn 200,000 bonus points after spending $5,000 in the first 3 months, while the Premier, Credit Card and Business versions offer 180,000, 125,000 and 190,000 bonus points respectively.

Kasikorn Securities revealed that Trip.com Group indicated Chinese tourists during Golden Week 2026 are tending to travel earlier and stay longer, with flight bookings to Phuket rising 78% year on year, while Chiang Mai is gaining popularity among Gen Z, in line with the recovery of travel in Asia. In addition, bookings for accommodation of seven nights or more rose 123% year on year, reflecting both an increase in the number of trips and in their duration. The research team views this as positive momentum for the tourism sector, namely AOT, AAV, BA, CENTEL and ERW, given the recovery opportunity for Chinese tourists and tourism activity during Golden Week. However, the flood situation still needs to be monitored closely.