Merlin Entertainments Plc (MERL) Announced A Strategic Partnership With Klook

  • May 24, 2019 BST
  • Team Kalkine
Merlin Entertainments Plc (MERL) Announced A Strategic Partnership With Klook

Recreational service provider Merlin Entertainments is a Britain headquartered company engaged in the business of providing location-based entertainment services.

On May-23, the world’s leading location-based entertainment service provider Merlin has announced a strategic tie-up with a globally well recognised travel activities and service booking platform provider “Klook.” With increasing numbers of mobile travellers, this would increase customers’ experiences at eight attractions of Merlin across the Asia through a series of data analytics, information exchange and marketing promotions.

C.S. Soong, General manager of SEA region at Klook said that Backpackers are now a days very tech-savvy then ever, they do their own research before every tour and decide the best option available according to their own convenience and the best possible deal which offer value-for-money. He added that “I believe our partnership with the UK’s leading recreational service provider “Merlin” would offer the best memories to the travellers who are visiting their many attractions.”

Susan Ang, Asia Marketing Director, Merlin Midway Asia said that their strategic partnership with Klook is a vital step towards the growth and would be instrumental in increasing market share. He added that “Klook is well placed to help us in Asia through its rapidly growing consumer base and user-friendly mobile platform. We are very enthusiastic to work with Klook, a dominant player in the region that bring insights and expertise to the table, Susan added”.

The travel and leisure company Merlin would initiate a series of marketing promotions in collaboration with Klook, that will attract modern mobile travellers. However, further information will be briefed throughout the year.

With the rapid expansion of mobile dependent backpackers and rising fondness to arrange things on-the-go via smart phones, customers of the travel booking service provider Klook are now able to book Merlin’s attraction instantly over the phone.

Post this strategic partnership announcement, shares of the LSE: MERL has surged around 12.3% against the May 21 closing price of GBX 337.60 and at the time of writing (as on May 24, 2019, at 12:41 PM GMT), its shares were quoting at GBX 379.2 and added around 21.6 points or 6.04% higher against the previous day closing price.

Daily Price Chart (as on May 24, 2019), before the market close. (Source: Thomson Reuters)

During the past 52 weeks, the stock has touched a high of GBX 415.70 and a low of GBX 304.40.  Recently the stock has breached its 200-day simple average moving price target, which indicates that it has entered the bull zone and expected to move up further from the current trading levels.

The outstanding market capitalisation of the company stood at around £3.66 bn with a dividend yield of 2.24%.

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