Investment design house Stoic Asset Management is anticipating huge gains in its tourism-related assets as COVID-19 travel restrictions in Australia and around the world continue to ease.
Executive Chairman of Stoic Asset Management, Guy Hedley said he expected the value of its tourism estate assets to surge in line with a rush in domestic travel as restrictions in NSW and Victoria ease.
“This summer is set to be a boom for domestic travel and tourism as people enjoy much needed relaxation and recreation after the stress of lockdowns,” Mr Hedley said.
“Popular destinations across Australia are already experiencing an uptake in bookings just ahead of Christmas and new year and this is leading to greater demand for hotels and nature-based activities.”
Stoic Asset Management is the major co investor in Elanor Investors Group’s (ASX: ENN) Hotel Accommodation Fund with key property-backed domestic tourism assets across Australia.
It is also the major co-investor in ASX-listed Elanor Investors Group’s Elanor Wildlife Park Fund. This fund holds Featherdale Wildlife Park, in Western Sydney and Mogo Zoo in Batemans Bay on the NSW South Coast and has a joint stake in Hunter Valley Zoo at Nulkaba, NSW and.
Mr Hedley said getting close to nature visiting wildlife parks were just what people needed.
“Importantly these sorts of activities enable people to maintain an appropriate degree of COVID-19 consciousness by social distancing,” Mr Hedley said.
“Individuals and families can enjoy the great outdoors and explore our diverse and unique wildlife while learning at the same time.”
Stoic Asset Management manages the Opus Venture Capital fund of funds which has its own holdings and investor holdings in Jayride (ASX:JAY).
Jayride is a travel marketplace where travelers compare and book airport transfers around the world.
The company is experiencing significant growth with passenger trips booked growing 38 per cent in the first quarter of fiscal 2022 compared with the previous fourth quarter of fiscal 2021. Net revenue increased 40 per cent in the first quarter.
Jayride Chief Executive Officer Rod Bishop said Jayride is positioned for growth with the company capitalising on recovery and winning market share as the economy reopened.
Reopenings have driven immediate demand for leisure travel in overseas destinations such Dominican Republic, Canary Islands, and Malta. The same was expected in Australia.
“Trips in the United States and Europe have rebounded to 100 per cent of pre-pandemic levels and we expect Oceania and Asia trips to return towards pre-pandemic levels once reopened,” Mr Bishop said.
More rides are being booked online as travelers’ needs change led by large travel brands, he said.
“As a consequence there’s been a dramatic increase in the use of Jayride to book rides online,” Mr Bishop said. “More consumers are driven by health and safety issues and are looking to use private transfers.”
https://eglobaltravelmedia.com.au/tourism-related-assets-gain-as-covid-19-restrictions-ease/
