AccorHotels announced the signing of an agreement with the Qatar Investment Authority (QIA), Kingdom Holding Company of Saudi Arabia and Oxford Properties, the real estate division of the Ontario Municipal Employees Retirement System, for the acquisition of FRHI Holdings Ltd (FRHI), parent company of Fairmont, Raffles, and Swissôtel chains. The US$2.9 billion deal will include FRHI’s three global luxury hotel brands, covering 155 hotels and resorts – of which 40 are under development – and more than 56,000 rooms spanning across 34 countries. According to Sébastien Bazin, Chairman and CEO of AccorHotels, the acquisition of these three global brands will strategically enhance the group’s portfolio and their geographic reach, in particular in the United States − the primary issuing market for international tourism. With its new portfolio of nearly 500 luxury and upscale properties, AccorHotels aims to generate about €65million in revenue and cost synergies in the medium-term from the amalgamation of brands, the maximization of hotel earnings, and the increased efficiency of marketing, sales and distribution channel initiatives. The deal comes shortly after Marriott’s US$12 billion takeover of Starwood, and continues with the rising trend of consolidation in the hotel industry.
Chinese state-owned BTG Hotels Group has announced that it will acquire domestic rival and leading economy hotel chain Homeinns Hotel Group for RMB11 billion (US$1.7 billion). BTG Hotels Group’s brands presently include BTG-Jianguo Hotels and Resorts, BTG-Jinglun Hotels and Shindom Inn, and the addition of Homeinns’ five brands will certainly help BTG round out its portfolio of brands. Listed on NASDAQ, Homeinns is the largest Chinese economy hotel chain, with more than 2,700 hotels in operation across 346 cities in China.
Carlson Rezidor launched the Park Inn by Radisson hotel in Amritsar earlier this week. Located on the Airport Road, the hotel features 89 rooms, one restaurant and a lounge, a swimming pool, a fitness center and 53 square meters of meeting space. Complimentary shuttle services from the hotel to the city centre, railway station, airport, and the Golden Temple will be available to guests. The owner, Mr. Rajan Gill, also owns another hotel operating in the city − the Radisson Blu Amritsar. Amritsar, one of the oldest cities in the state of Punjab, is renowned world over for its famous religious and historical sites such as the Golden Temple, Jallianwala Bagh and Wagah border.
AccorHotels has joined hands with Luneng Group to open three hotels in the next three years. The first of the three openings will be the Mercure Beijing Luneng, a 75-room conversion project slated to open in Q4 2017. The other two newly-build properties – Pullman Beijing Luneng and MGallery Beijing Luneng – are expected to welcome its first guests in Q4 2018. Mercure Beijing Luneng will be located in Shunyi district, featuring two restaurants, a lounge and a function space. Pullman Beijing Luneng, also will be located in Shunyi district and will be a part of a mixed-use development that includes residential, retail and office components. On the other hand, MGallery will be built in Grasse Town, an upscale villa development in Tongzhou district, situated in the vicinity of several golf courses and a 15 minutes drive from the Beijing Capital International Airport.
Closing Share Price as at
10 Dec 2015
3 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.
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