Carlson Rezidor has joined hands with Mushtaq Group of Hotels to open seven hotels in the northern Indian state of Jammu and Kashmir. The portfolio agreement comprises 817 rooms across seven hotels under the Radisson Blu, Radisson and Country Inn & Suites By Carlson brands. The hotels will be located in Srinagar (89-room Radisson expected to open in the fourth quarter of 2016 and a 225-room Radisson Blu scheduled to open in the second quarter of 2020), Jammu (55-unit Country Inn & Suites By Carlson anticipated to open in the third quarter of 2017), Pahalgam (118-key Radisson Pahalgam Golf View Resort scheduled to open in the third quarter of 2018), Sonamarg (100-key Country Inn & Suites By Carlson expected to open in the fourth quarter of 2018), Gulmarg (80-key Country Inn & Suites By Carlson expected to commence operations in the first quarter of 2020) and Tangmarg (150-room Radisson Blu Resort expected to open in the fourth quarter of 2021). This deal will position Carlson Rezidor Hotel Group as the largest international hotel operator in Jammu and Kashmir.
Mövenpick Hotels & Resorts announced last week that it has entered into an agreement with Ngoi Sao Cua Duong Joint Stock Company to develop the newly-built Mövenpick Resort Phu Quoc. The new beachfront resort will span across 50 hectares of land in Ong Lang beach, located 10 kilometers north of Duong Dong, Phu Quoc island’s largest city, and is slated to open in 2017. The 250-room resort will offer 100 branded residences and 50 luxury pool villas, a retail village, a swimming pool and water park, a spa, a fitness center, a cooking school, a beach club and a kid’s club, a water sports center, a hotel school with staff accommodation, and a 1,000m² convention center. Over the last few years, Phu Quoc has seen significant transformation with major developments having come up sporadically across the island − between 2012 and 2015, the room supply of upscale and luxury hotels has grown by a CAGR of 39.3%. As this resort destination is increasingly gaining prominence among international globetrotters and investors, the island strives for further developments in the near future.
Chengdu Shuangliu Airport has become China's fourth busiest airport after Beijing Capital Airport, Shanghai Pudong Airport and Guangzhou Baiyun Airport. Chengdu Airport is China's only airport in the central southern region with over 40 million passenger throughput. The airport's passenger throughput has maintained double-digit growth since the beginning of this year − between January and November, the airport registered 12% y-o-y growth in incoming and outgoing passenger traffic. As of 30 November, 2015, Chengdu Airport served 249 air routes, 165 of which were domestic air routes. This month, a direct service between Chengdu and Paris has also been added. Chengdu Airport has seen strong growth in flight network and passenger and cargo throughput, since Chengdu is the base for 268 of the global Fortune 500 companies, including Intel and Volkswagen. The city also maintains direct trade with 211 countries and regions.
Holiday Club Sweden AB, step down subsidiary of Mahindra Holidays & Resorts India, subscribed to 51 percent stake in Sweden's spa hotel company Visionsbolaget 10088AB via a cash payment of nine million Swedish krona. Post this acquisition, Visionsbolaget’s name will be changed to Holiday Club Sport and Spa Hotels AB and it will become a subsidiary of Holiday Club Sweden AB, which is in turn a subsidiary of Holiday Club Resorts Oy, Finland.
Since the Hong Kong listed company Best Sunshine International Limited secured the Casino Resort Developer License for Saipan in 2014, all eyes have been on the lookout for moves from the developer. Last week after prolonged discussions, Best Sunshine CEO, Mark Brown, and Kan Pacific President, Yoshihiro Kitami, have successfully closed a deal for Best Sunshine to inherit the remainder Mariana Resort & Spa’s land lease which will expire in April 2018. Meanwhile, Mariana will carry on its operations for at least one more year. No details have been released by either party regarding the content of the agreement or the future of the Marpi land. Addtionally, Kan Pacific has announced its plan to launch a new resort in Saipan as well as its intention to aide Best Sunshine’s future endeavors. From bidding for land, to opening a training casino in the DFS Galleria while constructing the integrated casino resort in Garapan, Best Sunshine has been quickly and boldly making progress towards its master plan for Saipan.
The second phase of Don Mueang International Airport (DMK)’s expansion will be launched by the end of December this year to accommodate an expected surge in passenger movement in the coming year. According to Prasong Pootaneat, Board Chairman of Airports of Thailand PlC (AoT), “the renovation of Terminal 2 building will be able to serve the boost in travelers, expected to increase from 90,000 per day this year to 120,000-130,000 a day next year, an increase of at least 33%”. Under the second phase development, there will be 42 check-in counters in Terminal 2 building including surveillance cameras and bomb detection systems. Post this expansion, DMK will be able to accommodate a total of 30 million passengers a year, an increase in capacity from 18.5 million passengers. A third phase of development will be proposed to AoT board in January 2016. Under the third phase, there are plans to develop another terminal as a junction terminal to connect with the Red Line electric railway, which is currently under construction opposite the airport.
China's Ministry of Finance has announced the lowering the tariffs for 27 types of luxury goods and daily necessities bought overseas, effective January 1, 2016. Statistics show that there are total of 262 duty-free stores in China, while 112 million Chinese traveled abroad last year and the spending overseas totaled one trillion RMB. Chinese shoppers flocked to Korea for duty-free goods as prices in Korea's duty-free stores are 20%-30% cheaper than in Chinese stores. Analyses have shown that when the price of imported goods in China is lowered and there are more duty-free shops in the country, China’s outbound travelers will shift their focus to enjoying sightseeing and culture rather than shopping.
Closing Share Price as at
17 Dec 2015
10 Dec 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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