Conrad Debuts in Manila

Conrad Hotels & Resorts makes its debut in the Philippines with the opening of Conrad Manila. Owned by SM Hotels and Convention Corporation, a subsidiary of SM Investment Corporation, Conrad Manila is located in close proximity to SMX Convention Centre, the country’s largest convention space, and sits atop S Maison upscale shopping center. The 347-room hotel is the first Conrad in the Philippines and their 15th property in the Asia Pacific.  The hotel features a total of six restaurants and lounges, a coral-shaped infinity swimming pool, a 24-hour fitness center and a spa with six treatment rooms. With a combined meeting space of over 2,400 square meters, the hotel is also expected to attract the MICE segment. According to Martin Rinck, Hilton’s President for Asia Pacific, “Its opening underscores the growth of our portfolio across Asia Pacific and our continued commitment to the dynamic market of the Philippines. This landmark property perfectly complements the vibrancy of this amazing capital city and will set the benchmark for luxury accommodation in Manila.”

Disney Opens Their First Theme Park in Mainland China

The Shanghai Disney Resort, located in the Chuansha New Town of Pudong New Area, celebrated its grand opening on Thursday, last week. As the sixth in the world and the second Disney resort in China (after the Hong Kong Disneyland), the launch of this US$5.5-billion resort represents one of the biggest ever foreign investments in China and sets many records among existing Disney parks. It has the world's biggest Disney castle, the first garden-designed zone and the first pirate-themed garden. This high-profile launch is expected to give a significant boost to Shanghai's tourist traffic this summer. China is building theme parks faster than any other country in the world. Universal Studios is planning a theme park near Beijing, while DreamWorks Animation is cooperating on an entertainment district in Shanghai. According to the National Business Daily newspaper, more than 300 projects have received funding in recent years, and last year alone, 21 parks opened and another 20 were under construction.

Yotel Confident of Fast Expansion in Asia with Their First Opening in Singapore

YOTEL, a pioneer of sleek, digital-driven ‘cabin’ accommodation with affordable rates, is expanding into the Asia region with the opening of the first Yotel in Singapore early next year. The 610-cabin Yotel Singapore, located at Orchard Road, is looking to charge a rate of S$200 to S$240. According to the company’s CEO, Hubert Vitriot, the launch of the hotel is aimed at setting the tone and awareness for the brand, and will act as a catalyst for more Yotels in the Asia region. The company is currently targeting to launch 50 hotels by 2020, a quarter of which, at minimum, will be in Asia.

Crowne Plaza Opens in Pune, India

InterContinental Hotels Group announced the opening of its first Crowne Plaza in Pune this week. Located in Koregaon Park District, the hotel features 173 rooms, an all-day dining restaurant and a rooftop restaurant and lounge, 11,800 square feet of banqueting space, a fitness center, and a swimming pool. The hotel will operate under a management agreement with The Advantage Raheja Group. Initially opened as a Courtyard by Marriott, the property will undergo significant refurbishment, until early 2017, as part of the rebranding exercise. During this period, the hotel will remain operational.

Finolhu Maldives Joins Worldhotels

Finolhu, a luxury resort in Maldives, has joined the Worldhotels’ acclaimed collection of upscale independent properties. According to Roland Jegge, Executive Vice President Asia Pacific for Worldhotels, “Finolhu embodies an unparalleled tropical island experience and caters perfectly to the palettes of millennials who are looking for an untypical vacation in the Maldives. This much-awaited, second Maldivian addition into Worldhotels’ collection of hotels will allow guests to experience a unique take on the splendors of the Maldives.” Guests can make a selection from Finolhu’s 125 villas that are located on the ocean, the lagoon or by the beach, with or without pool, in either one or two bedroom options.  The resort is managed by The Small Maldives Island Company.

Absolute Share Price Performance, as on 16 June 2016