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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 31 July 2009 |
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The Japan Tourism Agency has announced 2010 as the 'MICE Year'
to attract meetings, incentives, conferences or conventions,
and events or exhibitions to Japan. The agency is expected
to announce an action programme targeted at promoting Japan
as a key MICE destination. The programme which is expected
to be prepared by March 2010, is anticipated to outline the
economic benefits of MICE promotion. International
conferences scheduled to take place in Japan in 2010 include
Asia-Pacific Economic Cooperation forum meetings and the
10th Conference of the Parties to the Convention on
Biological Diversity. |
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Singapore's Fraser and Neave (F&N) said that its subsidiary
Frasers Centrepoint has sold its full interest in Hong
Kong-incorporated Metro Charm Holdings (Metro Charm) for
approximately US$140 million. It was reported that Metro
Charm holds all the equity in a development company based in
Hainan Province, China and the company is working on a hotel
and residential villa project in China. According to F&N,
the sale is in line with its focus on property development
in selected key cities in China. |
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Sheraton Incheon Hotel, the first five-star hotel located in
the Songdo International Business District in Incheon Free
Economic Zone (IFEZ), South Korea, opened on 1 August 2009.
The hotel aims to mainly attract corporate guests, as well
as honeymoon guests during the weekends. Within the vicinity
of the hotel is the convention centre, Songdo Convensia, and
the Jack Nicklaus Golf Club which is expected to open in
2010, as well as the Incheon Grand Bridge. The Incheon Grand
Bridge is scheduled to open in October 2009 and is expected
to connect IFEZ to the Incheon International Airport,
enhancing accessibility. |
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Malaysia welcomed a total of 16.6 million international
arrivals from the countries of the Association of Southeast
Asian Nations (ASEAN) in 2008, reflecting an increase of
6.5% from 2007. These arrivals made up approximately 75% of
the total international arrivals for Malaysia in 2008 and
contributed around US$9.4 billion to the economy, recording
a 10% increase from 2007. Malaysian tourism authorities have
identified the region as a vital source of demand, given its
total population of 570 million and the preference for
short-haul travelling amidst the current economic
conditions. |
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Metropolis Tower, one of Auckland's distinctive and landmark
buildings, is currently under negotiations to be converted
into an independent five-star hotel. Nicholson Capital, a
private equity company, has announced its bid to take
control of the building and convert a portion of it into a
hotel, Hotel Grand Metropolis. Currently, the building is
controlled by a management corporation which comprises
apartment owners and their voting rights for building-wide
decisions are based on their respective apartment values.
The building had previously been operated by hotel brands
such as Millennium and Ascott. |
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The recreational arm of the National Trades Union Congress (NTUC)
of Singapore, NTUC Club, has announced the cancellation of
its plans for a 200-key resort on Sentosa Island due to the
high construction costs and land costs. The development,
which was planned to be located within a three-hectare site,
was initially budgeted to cost approximately US$31 million.
Scheduled to be reviewed for future development, the site
was previously not under any sale or lease agreement with
NTUC Club. The landlord, Sentosa Development Corporation,
has announced that the site has been earmarked for sports
and recreational use. |
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Absolute Share Price Performance, as at
31 July 2009
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Closing Share Price as at |
31 July 2009 |
24 July 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings Limited |
4.65 |
4.50 |
3% |
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General Property Group |
0.53 |
0.53 |
– |
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Mirvac Group |
1.28 |
1.21 |
6% |
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Ocean Capital Limited |
0.32 |
0.32 |
– |
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Thakral Holdings Group |
0.21 |
0.21 |
– |
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Living and Leisure Australia Group |
0.03 |
0.02 |
13% |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
3.10 |
3.06 |
1% |
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Dusit Thani Public Co Ltd |
27.50 |
27.00 |
2% |
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The Erawan Group Public Co Ltd |
1.79 |
1.71 |
5% |
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Grande Asset Hotels and Property Public Co Ltd |
1.40 |
1.40 |
– |
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Laguna Resorts & Hotel Public Co Ltd |
26.25 |
26.00 |
1% |
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Minor International Public Co Ltd |
8.45 |
8.20 |
3% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
23.39 |
21.78 |
7% |
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Beijing Capital Tourism Co Ltd |
18.42 |
18.66 |
-1% |
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Jinling Hotel Corporation Ltd |
8.81 |
7.98 |
10% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
7.37 |
7.72 |
-5% |
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Guangzhou Dong Fang Hotel Co Ltd |
8.01 |
8.26 |
-3% |
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Shenzhen Century Plaza Hotel Co Ltd |
5.52 |
5.78 |
-4% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
16.00 |
17.39 |
-8% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel & Investment Co Ltd |
7.70 |
7.55 |
2% |
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Regal Hotels International Holdings Ltd |
2.49 |
2.10 |
19% |
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Sino Hotels Holdings Ltd |
2.65 |
2.60 |
2% |
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The Hong Kong & Shanghai Hotels Ltd |
8.90 |
8.87 |
– |
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Korea Exchange (KRW) |
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The Shilla |
17,000 |
15,800 |
8% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.35 |
0.35 |
– |
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ART Management Limited |
0.88 |
0.89 |
-1% |
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Banyan Tree Holdings Limited |
0.68 |
0.64 |
6% |
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CDL HTrust |
1.21 |
1.06 |
14% |
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Hotel Grand Central Ltd |
0.67 |
0.63 |
6% |
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Hotel Properties Ltd |
1.85 |
1.85 |
– |
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Mandarin Oriental International Ltd (US$) |
1.28 |
1.26 |
2% |
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Pan Pacific Hotels Group Limited |
1.46 |
1.42 |
3% |
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Shangri-La Asia Limited (HK$) |
12.08 |
12.00 |
1% |
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Stamford Land Corporation Ltd |
0.38 |
0.38 |
– |
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Taiwan Stock Exchange (NT$) |
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Formosa International Hotels Corporation |
426.00 |
435.00 |
-2% |
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The Ambassador Hotel, Ltd |
38.65 |
38.80 |
– |
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Tokyo Stock Exchange (JPY) |
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Nippon Hotel Fund Investment Corporation |
156,000 |
157,200 |
-1% |
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Japan Hotel and Resort Inc |
154,000 |
147,200 |
5% |
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Imperial Hotel, Ltd |
1,969 |
1,930 |
2% |
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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. |
