Carlson Rezidor Hotel Group has joined hands with Eurowindow Nha Trang Investment and Tourism Joint Stock Company to develop the Radisson Blu Cam Ranh. Slated to open in the first quarter of 2019, the newly-built beachfront resort will be located close to Nha Trang, just 4 km away from the currently-expanding Cam Ranh International Airport. Once completed, the resort will offer 290 rooms and 40 villas, two restaurants, an outdoor pool with a pool bar, a lounge bar, and extensive meeting facilities including a grand ballroom. As of December 2015, there are approximately 3,100 rooms in the upscale and luxury hotel segment in Nha Trang; this number grew at a CAGR of 15.4% between 2012 and 2014. 2015 saw only a marginal growth in hotel supply, with the 70-key Cam Ranh Riviera Resort being the sole opening this year. With a steady increase in international arrivals and rising disposable income of the middle-class in Vietnam, the hospitality industry in the country is poised for growth in the near future.
Since Hilton began its China venture in Shanghai in 1988, it has built a network of 64 hotels in the Greater China region, 62 of which are in mainland China, with another 181 hotels being in the pipeline. While half of its ten top global brands are already in China, the company has signed management agreements with local partners for bringing in two of their other brands ─ Hampton by Hilton and Embassy Suites Hotels, to China. According to Bruce McKenzie, Hilton Worldwide’s SVP of Operations in Greater China and Mongolia, China’s mid-range hotel market is largely untapped and holds vast potential. Consequently, the group’s two mid-range brands ─ Hilton Garden Inn and Hampton by Hilton, have devised clear China development strategies. He added that Hilton will open its first Hampton by Hilton in 2016 and plans to add another 400 in the country over the next 10 years. The Hilton Garden Inn brand, which currently has four properties, will also have new openings next year. Although Hilton currently operates all its hotels in China under direct management, it will adopt a franchise management model for the Hampton by Hilton brand. The operating rights for the brand in Greater China will be handed to the top domestic budget hotel group - Plateno.
Taj Hotels Resorts & Palaces saw the opening of their 150-key Gateway Hotel in Hinjewadi, Pune, last week. This is the second Taj property in the city, following the Vivanta by Taj - Blue Diamond located in Koregaon Park, and the 28th hotel under the Gateway brand. Owned by PSC Pacific, a subsidiary of real estate company Paranjape Schemes (Construction) Ltd, the hotel has been built with an investment of INR115 crore. The property offers 150 rooms including six suites, an all day dining restaurant and a bar, three meeting and conferencing spaces with a total capacity of 280 guests, a fitness centre, a spa, and a swimming pool. Located west of Pune city, Hinjewadi is a large IT/ITeS hub with major companies such as Infosys, TCS, Wipro, Symantec, Cognizant, IBM, Microsoft and Tech Mahindra having their campuses there.
Starwood Hotels & Resorts also expanded its footprint in India, with the launch of the Le Méridien in Nagpur last week. Owned by the Classic Citi Investments Pvt Ltd, the 133-room property is the brand’s tenth hotel in the country. Previously known as the ‘Sun n Sand’, the hotel underwent extensive renovations as a part of its rebranding process, and has now been designed with classic Indian motifs. Located seven kilometers from the airport, the hotel offers three food and beverage outlets, a swimming pool, a fitness centre, a spa and a salon, along with 900 m2 of indoor meeting and conference space, and 2,800 m2 of outdoor event space. Nagpur is the third largest city in the state of Maharashtra, and the main centre of financial and commercial activity for Vidarbha, the state’s eastern region.
Rosewood Hotels & Resorts has been appointed by Waterfall Management Sole Co Ltd to manage the Rosewood Luang Prabang in Laos, scheduled to open in 2017. This luxury forest retreat will be a 10 minutes drive from the historic city of Luang Prabang, a UNESCO World Heritage Site. The resort will be inspired by Lao tradition and French colonial style having a total of 22 villas that include eight deluxe villas, three garden villas, six private pool villas and five luxury tents. The resort will be designed by Bill Bensley and will be the site for the first philanthropic hospitality school in Laos. According to Sonia Cheng, CEO - Rosewood Hotel Group, “At Rosewood Luang Prabang we wish to create an authentic and exquisite journey for every guest that connects them to nature and creates unforgettable memories of the rich local landscape and culture. It will also mark two milestones for our company – the launch of a community philanthropic school, as well as the introduction of Rosewood luxury tent accommodations.”
In an attempt to buy out Chanakya Hotels from Country Development & Management Services (CDMS), US based hotel company, Carlson Rezidor Hotel Group is buying out majority stake held by Ranjan Bhattacharya in its joint venture (JV) company CDMS. CDMS was formed in 1998 in partnership with Chanakya Hotels Pvt Ltd, to manage the hotels under the brand ‘Country Inn & Suites by Carlson’, in India. The details of the transaction are undisclosed. Acquiring Chanakya Hotels from CDMS is Carlson Rezidor’s second attempt to consolidate operations in the country. In 2010, the company had purchased 74% stake held by local partner Umak Investment Co Pvt. Ltd. in a separate JV, RHW Hotel Management Services Ltd. (RHW), which managed Radisson, Park Inn and Park Plaza hotels.
MRG Hospitality and Infrastructure Pvt Ltd, a Bangalore-based company, acquired the 70-key Sarovar Portico from Express Infocom in Faridabad. While the detail of this deal wasn’t disclosed, the value of the transaction is rumored to be between INR50 and INR55 crore. The hotel will continue to be run by Sarovar Hotels & Resorts for the next three months, post which, MRG Hospitality is expected to rebrand the hotel under its Goldfinch brand. Earlier this year, the company had also purchased Mumbai-based Aura Grande hotel, run by Annakoot Properties Pvt Ltd, for a consideration of INR100 crore.
Closing Share Price as at
3 Dec 2015
26 Nov 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
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 Asia Pacific.
Superior Results through Unrivaled Hospitality Intelligence. Everywhere.
Stay current. Click here to receive free HVS newsletters