Incheon Airport Emulates Resorts World Sentosa

Inspired by Resorts World Sentosa in Singapore, Incheon Airport (Seoul) has plans to develop a US$4.6 billion integrated resort as early as 2019. The airport aims to leverage its proximity to China as an incentive to draw more Chinese visitors. This development comes as part of plans by the government to increase 2014’s 6.13million visitor arrivals in 2014 to 10 million visitors by 2020. The development would occupy 809 acres of vacant land within near the second terminal of Incheon Airport. In January 2015, Chinese arrivals to Korea comprised 43% of the market and showed a growth of 33% over the previous year.

Accor has added Pullman Khao Lak Katiliya Resort and Villas to its Portfolio

Accor has continued its expansion of Pullman brand with the opening of the Pullman Khao Lak Katiliya Resort and Villas. A former Le Meridien Khao Lak property, the latest Pullman Resort in Thailand brings Accor’s hotels in the Andaman coast area up to 13 properties. Located along a 600-metre of the private beach, the resort’s accommodation comprises 223 spectacular rooms and suites and 97 villas with private pools overlooking the Andaman Sea. The resort consists of six extensive restaurants outlets with leisure facilities including five swimming pools, a spa, two fitness centres and meeting facilities. With the addition of Pullman Khao Lak to Accor’s portfolio, currently there are a total of six Pullman properties in Thailand after Bangkok, Pattaya, Phuket and Khon Kaen.

ITC to acquire Park Hyatt Goa

ITC Limited, an Indian conglomerate that operates the country’s second-largest hospitality group, has emerged as a successful bidder for the acquisition of the Blue Coast Hotels Limited owned 250-key Park Hyatt Resort and Spa Goa, for approximately INR515.44 crore (US$83 million). The company has already paid 25 percent of the bid amount (INR128 crore/US$20.6 crore) and is required to pay the remaining amount within 15 days for the confirmation of sale.  The bid value is equivalent to the reserve price set by the lender, IFCI Limited. The auction was initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002. Blue Coast Hotels has defaulted on loan repayments to IFCI resulting in IFCI attempting to auction the luxury resort in Goa, spanning 45 acres, since 2013.

New waves of tourism in the Northern Pacific

For decades, the Mariana Islands (CNMI) and Guam have been very popular destinations for Japanese wholesale tourists. Korean travelers gradually claimed their stake in this market, by now representing the largest share of visitor arrivals to CNMI of around 40%, followed by China at 34%. Japan, which used to dominate CNMI at 75% now merely generates 20% of visitor arrivals – trend declining. On Guam, the Japanese market remains the strongest at 60% of total visitor arrivals, followed by Korea at 23% in 2014. Taiwan generated less than 4% and China and Russia each slightly more than 1%. As a value destination with visa-free access for mainland Chinese, Saipan remains the preferred choice, willingly or not, for Koreans and mainland Chinese. Hotel development activity is gearing up to accommodate increased demand there and airlift capacity is bound to follow. Once mainland Chinese are allowed to travel to Guam in larger numbers, the destination is set to see a revival in its resort market as well. For now, the wholesalers bringing higher paying Japanese guests to the Island control the industry. Amid a weakening Yen and increased domestic tourism in Japan, the tourism landscape in Guam is slowly shifting.

New Perspectives for the Indian Hospitality Industry: HICSA 2015 now in New Delhi!

The year 2015 will see the 10-year old and much established Hotel Investment Conference - South Asia (HICSA) getting a ‘brand new makeover’. After its decade-long spell in Mumbai, relocating to the capital city was a conscientious decision by the organizers towards this objective. To be held at the JW Marriott Aerocity New Delhi on 7 & 8 April 2015, the conference program will see several fresh concepts and interesting elements being introduced this year, offering its participants something new and different from what they have witnessed in the past. Above all, with the Hon’ble Prime Minister recently launching the Make in India campaign and the Tourism & Hospitality Sector being one of the critical components of this major national program, the 11th edition of HICSA will be of special significance. The conference will aim to further the 'Make in India' vision, providing a platform for dialogue and deliberation on the growth and direction of the hotel & tourism industry, and synergizing the objectives of the government with the global and regional players in the industry.
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Absolute Share Price Performance, as on 6 March 2015