Jin Jiang Hotels Group and Plateno Group officially sealed the strategic partnership deal in which Jin Jiang acquired 81% stake in Plateno Group, a Chinese hotel giant with an estimated value of RMB10 billion. The partnership agreement was signed in a ceremony in Shanghai on September 18. Plateno Group owns Portofino Hotels, Lavande Hotels, James Joyce Coffetel, ZMax Hotels, IU Hotel, 7Days Premium and 7Days Inn brands. After this acquisition, the new hotel group will have more than 20 brands, over 6,000 hotels and 640,000 rooms in 55 countries, as well as over 100 million loyalty members on which it will be able to leverage to increase income from direct sales. The new hotel group will join hands to form a central reservations and customer relations management system to enhance data analysis, improve channel and revenue management, link membership rewards programs, and perfect its guest experience.
Pontiac Land is setting a new milestone in Australia through its plan in redeveloping two heritage buildings in Sydney – the Lands Building and the Education Building – into a 240-room luxury hotel worth AU$300 million. Pontiac Land was chosen by the Government Property of New South Wales as the preferred purchaser on a long-term lease after a rigorous tender process. It has been agreed that Pontiac Land will pay the Government Property AU$35 million for the lease and will be committing another AU$250-300 million for redevelopments. Refurbishment work will commence once the NSW government departments relocate in 2018, and is expected to finish by 2021. Pontiac Land is the second major Singapore-based company in Sydney’s Central Business District, after the purchase of The Westin Sydney for AU$445.3 million by Far East Land and its Hong Kong-listed sister company Sino Land, earlier this May.
Malaysian conglomerate MetTube Sdn Bhd has entered into a business transfer agreement to acquire the Leela Goa from Hotel Leela Venture Limited for a consideration of INR725 crore. Under the transaction, anticipated to be completed by December 2015, Ceres Hotels Pvt. Ltd, a unit of MetTube, will own the property and the Leela will continue to manage the hotel. Presently, the property is under the control of JM Financial Group’s asset reconstruction firm JM Financial Asset Reconstruction Co. Pvt. Ltd, which facilitated the sale. The disinvestment is in line with the hotel group’s strategy to reduce debt and adopt an asset-light model.
AccorHotels has opened the Novotel Imagica Khopoli near the theme parks of Adlabs Imagica and Aquamagica, off the Mumbai Pune Expressway in Maharashtra, India. Owned by Adlabs Group and managed by AccorHotels, the property features 116 rooms, four food and beverage outlets, a ballroom which can accommodate up to 460 guests, and outdoor function areas. The hotel plans to add another 171 rooms by early 2016. The operator search and management contract negotiations for the Novotel Imagica Khopoli was conducted by HVS South Asia.
In another transaction in India this week, Pune-based Vascon Engineers, along with three other partners have sold their stakes in the 176-room Holiday Inn for an enterprise value of INR150 crore to an undisclosed entity involved in the education business. Vascon Engineers held 35% stake and the three partners together owned 65% share in the hotel. The sale was carried out in order to reduce debt.
Zhonghong Stocks recently announced that the company will purchase all shares of the Sanya Banshanbandao project developed by Sanya Luhuitou Tourism Development Co. Ltd. With a total area of more than 5,000 mu and a built-up area of 2.4 million square meters, the Banshanbandao project consists of multiple hotel assets including the 367-unit InterContinental Sanya Resort, 122-room Anantara Sanya Resort, 357-room Serenity Coast Resort Sanya, 255-room Mingshen Golf & Bay Resort Sanya and 194-room Sanya Serenity Marina Hotel, as well as two proposed hotels,Bellagio and Hyatt Regency.
Mantra Group, the second largest accommodation operator in Australia, is now managing Australia’s largest apartment hotel, the Towers of Chevron Renaissance. The apartment hotel is located in Gold Coast’s Surfers Paradise and features 711 rooms across three towers which reach up to 50 floors. The acquisition further bolstered Mantra Group’s position in Gold Coast, taking up the total number of properties in the region to 21, under its three brands - Mantra, BreakFree and Peppers. The newly rebranded Mantra Towers of Chevron Surfers Paradise offers a variety of one-, two- and three- bedroom, and penthouse apartments, indoor and outdoor lap pools, and a 600m² lagoon swimming pool.
Closing Share Price as at
24 Sep 2015
18 Sep 2015
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited
General Property Group
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd
Dusit Thani Public Co Ltd
The Erawan Group Public Co Ltd
Grande Asset Hotels and Property Public Co Ltd
Laguna Resorts & Hotel Public Co Ltd
Minor International Public Co Ltd
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co Ltd
Guangzhou Dong Fang Hotel Co Ltd
China Lodging Group Ltd
Home Inns & Hotels Management Inc
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd
Regal Hotels International Holdings Ltd
Sino Hotels Holdings Ltd
The Hong Kong & Shanghai Hotels Ltd
Shangri-La Asia Limited
Dorsett Hospitality International
National Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces)
EIH (Oberoi Hotels & Resorts)
Hotel Leela Ventures
Korea Exchange (KRW)
Singapore Stock Exchange (S$)
Amara Holdings Ltd
Ascendas Hospitality Trust
Ascott Residence Trust
Banyan Tree Holdings Limited
CDL Hospitality Trusts
Far East Hospitality Trust
Hotel Grand Central Ltd
Hotel Properties Ltd
Mandarin Oriental International Ltd (US$)
OUE Hospitality Trust
Stamford Land Corporation Ltd
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation
The Ambassador Hotel, Ltd
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp.
Imperial Hotel, Ltd
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