Queensland border openings have helped these ASX stocks this week
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Queensland reopening its borders to greater Sydney and Victoria has been a godsend for a handful of ASX stocks.
The tourism sector took a significant hit from the border closures with Melburnians locked out since the end of March and Sydneysiders for all but three weeks since then.
But ever since the Queensland government declared they could come again, airlines have reported ticket sales are on the rise.
It’s easy to point to Qantas (ASX:QAN) as one winner and rightly so, having gained 20 per cent this month. It has put on 1,200 more flights to Queensland from Sydney and Melbourne in the lead-up to Christmas.
Yet other ASX stocks with direct exposure to the Queensland tourism market have had greater gains since the border announcement.
A significant portion of the top winners in the last month and week run venues, particularly in traditional Queensland tourism hot spots.
Theme park operator Village Roadshow (ASX:VRL) is surging too, by 21 per cent this week and 35 per cent in the last month. It runs Warner Brothers Movie World, Wet and Wild and Sea World – all on the Gold Coast.
Large cap Star Entertainment Group (ASX:SGR), which has a casino on the Gold Coast in addition to its Sydney site, has gained too, although only 10 per cent in the last month.
The other category of winners come from stocks helping people cross Queensland’s border.
The top is mid-cap Helloworld (ASX:HLO), which is up 60 per cent this month and 16 per cent this week.
Flight Centre boss Graham Turner told the ABC earlier this week his company had a huge rush for sales as soon as the Queensland border announcement was made.
This was not just for Christmas but the post-school holiday period in February and March too where the airlines put on discounted price.
Helloworld’s CEO Andrew Burnes, without naming Queensland, likewise said at his company’s AGM today that domestic border openings led to a significant uplift in bookings.