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Biomx Inc - Warrants Will Expire on October 28

THOMSON REUTERS2024-10-15

Biomx Inc - Warrants Will Expire on October 28

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    After American pop star Lady Gaga announced that Singapore would be the only stop in Asia for her current tour, the demand for flights and hotels on booking platforms surged.The singer will hold four performances at the National Stadium on May 18, 19, 21 and 24. Her last performance in Singapore was in 2021, when she performed for three nights at the Singapore Indoor Stadium.According to Kallang Alive Sport Management, a sports center management company that is cooperating with the organizer Live Nation to hold the concerts, it is expected that 200,000 local and international fans will attend the concerts.Edmund Ong, General Manager of Trip.com Singapore, said that the hotel bookings for the concert week have already increased threefold compared with the same period last year, and most of the bookings are from users in China, Malaysia, Japan, South Korea and the Philippines.The number of bookings for that week is also 76% higher than that for the following week (from May 25 to 31).Mr. Wang said, "We expect that once more people can confirm that they have successfully obtained concert tickets, the number of bookings will increase further, especially as May approaches."Cyndi Hui, a travel trend and destination expert at Skyscanner, said that the company has also found a surge in flight searches to Singapore during the concert period.In the week of March 10 after Lady Gaga announced the concert dates, the global flight searches to Singapore increased by 8.9% month-on-month.More specifically, since May 5, the flight searches to Malaysia have increased by 65.6% month-on-month and "maintained strong momentum in the following two weeks including the concert dates", Hui said.The top five cities with the most searches are London, Seoul, Tokyo, Taipei and Sydney. Meanwhile, the Southeast Asian cities with the most searches include Kuala Lumpur, Manila and Bangkok.Meanwhile, Sarah Wan, General Manager of Klook Indonesia, Malaysia and Singapore, an official experience partner of the Gaga Mayhem tour, said that the demand for its travel experience packages is "encouraging".STILL EARLY AGEAlthough the booking platforms have seen strong demand, hotels interviewed by The Business Times said that it is still too early to see a surge in demand now, and they expect more bookings as the concert dates approach.As of March 27, tickets for all seat categories for the four concerts are still available for purchase.Cinn Tan, Chief Business and Marketing Officer of Pan Pacific Hotels Group, said, "Given that the concert tickets have just been released, we have not observed an immediate surge in demand.""However, based on our past experience of hosting high-end events in Singapore, such as Taylor Swift's concerts, Coldplay's concerts and Bruno Mars' concerts, we expect the number of bookings to grow steadily in the coming weeks and peak as the event date approaches."Jacqueline Poey, General Manager of Sofitel Singapore Sentral, said that the hotel has noticed customers' interest in Lady Gaga's concert, but she pointed out that "other market factors" also affect the overall booking trend.For example, the steady booking demand for these dates can also be attributed to other large-scale conferences, incentive travel, major conventions and exhibitions held during this period, such as the 2025 Southeast Asia Semiconductor Exhibition."This concert may further stimulate people's interest, but the bookings are already high due to city-wide events," Poey said.Meanwhile, Qatar Airways and Singapore Airlines (SIA) declined to provide booking data for reasons of commercial sensitivity.Nevertheless, according to a report on March 17, analysts at Bloomberg Intelligence Research expect that these exhibitions may drive the growth of Singapore Airlines' revenue and profit in the first quarter.

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