Two Accor Hotels to open in Treasure Bay Bintan

PT Bintan Hotel Utama, a wholly owned subsidiary of Malaysia’s Landmarks Berhad, has entered into a joint venture with Singapore-based ML Hotel Investments Pte Ltd, to develop two new Accor-branded hotels in Treasure Bay Bintan. The hotels, a 182-key Mercure and 162-key ibis Budget, are projected to open in 2017. Out of its 182 keys, 114 long-term leases will be made available for sale at the mid-scale Mercure Hotel. The two hotels will increase new supply to around 1,700 rooms currently within Bintan’s development pipeline, all of which are concentrated in the northern region of Bintan Island, within the Treasure Bay Integrated Resort and Lagoi Bay developments. Historically, Bintan Island has experienced fluctuations in annual arrivals. In 2013, the island recorded 657,647 visitor arrivals, a year-on-year decline of 10.1% from 2012. With development currently ongoing for Lagoi Bay, Treasure Bay and the new Bintan Airport, the island is likely to see renewed attractiveness as a tourism destination in years to follow.

Light at the end of the tunnel for Ulaanbaatar Hotels?

On Tuesday, the Mongolian government signed an agreement with mining giant Rio Tinto, clearing the way for a US$5.4 billion expansion of a significant mining project - Oyu Tolgoi, which bears the potential to revive the local economy. The underground mine will require foreign expertise to bring to production and for years beyond. The economy and local hotels are in need of new investment; and this deal, further supported by aid pledged by India and China, should help to set the country with a population of slightly more than 3 million people, back on a growth track. After a real estate boom, several hotel projects were completed in the capital city Ulaanbaatar in recent years, including the Ramada Ulaanbaatar and Best Western Premier Tuushin. Several others, including a Shangri-La, are in various stages of development. In anticipation of the 11th ASEM in July 2016, yet more capacity is needed to host numerous heads of states. This mining deal could trigger the next economic boom – a definite boon for the region’s hotel market.

Thailand and Myanmar launched the Mega Joint Familiarisation Trip

The Tourism Authority of Thailand (TAT) and the Ministry of Hotels & Tourism Myanmar along with Bangkok Airways announced the launch of the Mega Joint Familiarisation Trip between Thailand and Myanmar. The purpose of this fam trip is to promote Thailand and Myanmar tourism to the US and European travelers. Through the cooperation between these two nations, the fam trip will aid in unlocking the potential of previously untapped tourism destinations. Chiang Mai has been chosen as the host city for the trip that brings together more than 50 tour operators and media from the UK, France, Germany, Scandinavia, Italy and UAE, as well as New York and Los Angeles. The primary destinations to be explored in these two countries include Chiang Mai, Mandalay, Bagan, Nay Pyi Taw and Bangkok. According to Tanes Petsuwan, TAT’s Executive Director for the EMEA region, “this bilateral tourism promotion will create a win-win situation for both countries”.

Rahul Pandit set to join Roots Corporation (Ginger Hotels) as its MD & CEO

Rahul Pandit, who until recently was serving as the President and Executive Director of Lemon Tree Hotels, is slated to join Roots Corporation (Ginger Hotels) as its Managing Director and CEO. He will succeed PK Mohankumar who recently retired from Ginger Hotels. An IIM Ahmedabad alumnus, Rahul had joined Lemon Tree in 2003, a year after it was founded. Roots Corporation, which operates Ginger Hotels, is a wholly owned subsidiary of Indian Hotels (Taj Hotels).

11th Annual China Hotel Investment Conference (CHIC) Successfully Concludes

Hosted by HVS and co-hosted by the China Tourism Academy and the Beijing International Studies University, the 11th China Hotel Investment Conference (CHIC) 2015, which was held on May 12-14 at the Mandarin Oriental Pudong, Shanghai, brought together 425 delegates including industry stalwarts, business leaders and key decision-makers from the hotel and tourism industry across 12 nations. Over the last decade, CHIC has established its reputation as ‘the most influential hotel investment conference in the region’ by consistently delivering a wealth of timely market insights that facilitate corporate strategies and growth in the world's second largest economy. The CHIC Organizing Committee thanks all sponsors, partners and delegates for their valued support, and for contributing towards an immensely successful 2015 event.
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Absolute Share Price Performance, as at 21 May 2015