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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 10
October 2008 |
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| The
Malaysian government has announced efforts to boost sports tourism
events to attract more tourists and drive national economic
growth. Deputy Prime Minister, Najib Tun Razak, has urged state
governments in Malaysia to promote sports tourism events such
as the FEI-World Endurance Championship (WEC) as these activities
have a major positive impact on tourist arrivals and the national
economy. |
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Hong Kong's Langham Hotels International To Manage Hotels
In Phuket, Thailand |
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| Hong
Kong's Langham Hotels International, a subsidiary of Great
Eagle Holding Limited, has announced plans to manage new developments
on Phuket, Thailand, after successfully opening the Langham
Place Eco Resort and Spa on Lanta Yai Island in Krabi. One of
the developments is a hotel located in the Kalim Bay area which
includes a residential component and is currently under construction.
Another development is a condo hotel which Langham Hotels International
is expected to manage. According to Langham Hotels International's
Vice President for Thailand, Andrew Jessop, the group is also
exploring five other management opportunities in Thailand outside
Bangkok. |
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| India's
Choice Hotels has announced its expansion plans to double its
hotel portfolio in India from the existing 25 hotels to 50 hotels
by 2010. The group is expected to invest approximately US$313
million, including land cost, and partner with other real estate
developers such as Amrapali Group and Sabri Group to develop
three hotels and four hotels, respectively. In addition, the
Choice Hotels will jointly develop two hotels each with Mittal
Group and Asterix Group. Among the 25 new hotels which are expected
to be located in New Delhi, Amritsar, Hyderabad, Pune, Chandigarh,
Manesar, Gurgaon, Goa, Bangalore, Chennai, Ludhiana, Noida and
Bathinda, it is expected that one hotel will be under Choice
Hotels' three-star Sleep Inn brand, four will be under
the five-star Clarion brand and the rest will be divided among
the three-star Comfort and four-star Quality brands. Currently,
21 new hotels are under construction and plans are underway
to sign agreements for four more hotels. |
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| After
its failure to gain approval to change land use rights to residential
and commercial from solely residential, SOHO China has announced
that it will cease the hotel operations at Commune by the Great
Wall in Beijing and Kempinski Hotel Boao in southern Hainan
Island, China. SOHO China has entered into termination agreements
with Key Management, the operator of the two properties and
announced plans to operate the two properties as serviced apartments.
SOHO China has reiterated that its primary focus is on development
and sale of office and retail properties and the latest developments
have no material impact on the company's operations. |
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| New
Hotel Management of Macau Sino Express Travel Limited (SXPT)
has announced that it has entered into a Memorandum of Understanding
(MOU) to acquire a right to manage a 160-key hotel in Macau,
a special administrative region of China. The hotel is located
within close proximity of several casinos such as Sands Macau
and MGM Grand Macau. The construction schedule for the hotel
is in the final stages and it is expected to commence operations
by the end of 2008. The deal is likely to cost New Hotel Management
approximately US$2,500,000 and it is expected to be settled
by issuance of restricted common shares of SXPT at US$0.15 per
share. |
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| Due
to the global credit crisis, plans for the US$342 million mixed-use
development, Empire Square, which is located in the Central
Business District (CBD) of Brisbane, Australia, have been scrapped.
The 65-storey development, which was envisaged to comprise 306
hotel rooms, 104 residences and 23,500 square metres of office
space, was scheduled to start construction by 2008 and commence
operations by 2012. The developer, Sydney-based Metacap Developments,
has announced that it has decided not to proceed with the project
due to the uncertainties associated with the worsening situation
of financial markets and residential buyers' deposits
will be refunded. Additionally, the developer is considering
other options on the 2,000-square-metre CBD site. |
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Absolute Share Price Performance, as at
10 October 2008
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Closing Share Price as at |
October
10 2008 |
October
3 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.37 |
4.78 |
-9% |
| General
Property Group |
1.19 |
1.72 |
-31% |
| Mirvac
Group |
2.03 |
2.78 |
-27% |
| Ocean
Capital Limited |
0.35 |
0.36 |
-3% |
| Thakral
Holdings Group |
0.74 |
0.88 |
-16% |
| Living
and Leisure Australia Group |
0.03 |
0.03 |
– |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
3.96 |
4.98 |
-20% |
| Dusit
Thani Public Co Ltd |
22.00 |
30.00 |
-27% |
| The
Erawan Group Public Limited |
2.26 |
3.02 |
-25% |
| Grande
Asset Development |
3.20 |
3.20 |
– |
| Laguna
Resorts & Hotel Public Co Ltd |
23.00 |
30.00 |
-23% |
| Minor
International PCL |
6.95 |
11.00 |
-37% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
7.40 |
7.80 |
-5% |
| Regal
Hotels International Holdings Ltd |
0.16 |
0.22 |
-24% |
| Sino
Hotels Holdings Ltd |
3.54 |
3.55 |
– |
| The
Hong Kong & Shanghai Hotels Ltd |
6.10 |
7.04 |
-13% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.22 |
0.30 |
-27% |
| ART
Management Pte Ltd |
0.53 |
0.66 |
-19% |
| Banyan
Tree Holdings Limited |
0.62 |
0.90 |
-31% |
| CDL
HTrust |
0.66 |
0.85 |
-22% |
| Hotel
Grand Central Ltd |
0.58 |
0.70 |
-17% |
| Hotel
Plaza Ltd |
1.15 |
1.36 |
-15% |
| Hotel
Properties Ltd |
1.05 |
1.36 |
-23% |
| Mandarin
Oriental International Ltd (US$) |
1.20 |
1.37 |
-12% |
| Shangri-La
Asia Ltd |
8.48 |
10.02 |
-15% |
| Stamford
Land |
0.28 |
0.37 |
-24% |
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Return to Headlines |
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| Disclaimer:
Information provided above has been gathered from various market sources.
HVS has not independently verified the accuracy of the information
provided. Interested parties should not rely on the information as
statement of facts and are advised to make their own independent checks
to verify the information provided. For further information, please
feel free to contact HVS
Singapore. |
