Melia Signs Three Hotel Deals in Thailand

Melia Hotels International has joined hands with TCC Land Asset World, one of the largest business conglomerates in Thailand, to open three hotels over the next three years. Both companies have strengthened their relationship since the opening of the Melia Hanoi Hotel in Vietnam in 2010, which has now led to a strategic agreement for future developments. In the first three years of the agreement, the two companies will develop three hotels, namely, a Sol Beach House in Koh Samui, a luxury lifestyle hotel under the ME by Melia brand in Bangkok and a luxury all-inclusive Paradisus resort in one of the top holiday destinations in Thailand. The agreement marks Melia’s entry in Thailand and paves the path for long-term growth in the nation, especially in destinations such as Bangkok, Koh Samui, Phuket and Pattaya, as well as in other countries.

Starwood Announces First St. Regis in Shanghai

Starwood Hotels and Resorts announced the signing of St. Regis Shanghai Jingan, with Shanghai Huayu Real Estate Company Limited. Due to open in early 2017, the hotel will be located in the city’s central business district, close to the West Nanjing Road business area in Jingan, which  houses premium corporate offices and luxury retail stores. Part of a new mixed-use development, the St. Regis Shanghai will feature 480-rooms, including 41 suites and 47 residences, between the 29th and 59th floors of the tower. Additionally, the hotel will offer three restaurants and an alfresco bar, a spa, an indoor swimming pool, a fitness center, and approximately 2000 m² of event space. St. Regis has an existing portfolio of six properties across Greater China region, with another nine in the pipeline ─ including The St. Regis Macao, slated to open in December 2015. 

Crowne Plaza Opens in Jaipur, India

InterContinental Hotels Group opened the Crowne Plaza Jaipur, its tenth Crowne Plaza in the country. Located in Sitapura Industrial Area close to the Jaipur International Airport and the Jaipur Exhibition and Convention Centre (JECC), the hotel features 218 rooms, two restaurants and a bar, approximately 19,500 ft2 of meeting space, a spa, a fitness centre, and a swimming pool. Jaipur is a leading leisure destination in the country and has, over the last few years, established itself as a lucrative hotel market for hosting meetings and weddings.

AccorHotels Launches the Pullman-Novotel Hotel Complex in New Delhi’s Aerocity

In another opening this week, AccorHotels launched a dual branded hotel complex (Pullman and Novotel) at the Aerocity in New Delhi. The Pullman offers 270 rooms, four F&B outlets, a spa, a health club and a swimming pool, while the Novotel features 400 rooms, two F&B outlets, a delicatessen, a spa, a health club and a swimming pool. The hotel complex is primarily targeted towards the MICE market, offering 13 meeting rooms and a ballroom, totaling 22,758 ft2 of meeting and event space.

Australia Prepares to Launch 10-year Visa for Chinese Tourists Next Year

With Australia increasingly becoming a favorite destination for Chinese tourists, its government is preparing to launch a 10-year multiple-entry tourism visa for Chinese nationals in an effort to attract even more visitors. Tourism Australia’s Regional GM of Greater China, Andrew Hogg, said that they hope to leverage the ‘Tour Operator Upgrade Plan’ to assist tour operators in providing more enriching, warm and quality Australian tourism products to Chinese visitors. Recently, they also signed strategic partnerships with a number of Chinese companies such as Alitrip and China Eastern Airlines to increase reach and distribution, and to tap into the market potential in China. Over 950,000 Chinese tourists visited Australia in the 12 months up to August 31, a 21.2% increase year-on-year. Tourism Australia predicts that the country will receive an annual total of over one million Chinese visitors by the end of this year or beginning of 2016.

Thailand Expects to Exceed 2015 Forecast of 28.8 Million Visitor Arrivals

While the August 2015 bomb attack at the Ratchaprasong intersection had led to travel advisories being issued by 23 countries as well as cancellations of hotel and flight bookings, tourism in the country appears to be on the path of a steady rebound. In the first nine months of 2015, Thailand attracted 22.1 million international visitors ─ 27.7% higher as compared to the same period last year and 13.1% higher than year-to-date September 2013. Tourism Council of Thailand expects that the number of tourist arrivals to Thailand will reach 30.3 million in 2015, representing a growth of 22.3% from the previous year and surpassing Tourism Authority of Thailand's (TAT) earlier target of 28.8 million. Additionally, TAT is now increasingly focusing on tourism receipts, a better indicator for the contribution of tourism industry to the overall economy than number of tourist arrivals, which was previously used as one of the primary indicators.

HVS Appoints Hok Yean CHEE as Managing Partner of the Singapore Office

HVS is pleased to announce the appointment of Hok Yean CHEE as Managing Partner of the Singapore office. Hok Yean is an industry veteran who is highly regarded for her valuations skills in the Asia Pacific region, having spent almost 30 years with JLL, HVS and, more recently, Chestertons. This will be her second stint at HVS and for the company; this is the second big return, following Mark Keith's joining HVS Executive Search in Hong Kong as Managing Director - Asia Pacific, earlier this year. HVS enjoys an exceptionally strong position in the marketplace with active assignments in the region, and with Hok joining the team, the Singapore office remains well poised to serve the industry in this dynamic market. 

Absolute Share Price Performance, as on 5 November 2015