HVS - ASIA PACIFIC HOSPITALITY NEWSLETTER - For The Week Ending 29 August 2014 (September 2, 2014)

Sofitel Opens in Sydney

Sofitel Sydney Darling Habour with 600 rooms is expected to complete by the second quarter of 2017. Additionally, it is the new Sydney International Convention Centre (ICC) hotel signed to be managed by Accor. Accor Pacific COO, Simon McGrath highlighted that with Sofitel’s continued growth in Asia-Pacific and projects such as Sofitel So Singapore, Sofitel So Auckland and Sofitel Wellington, Accor is on track to become a global leader in the luxury hotel space. The hotel will be owned by Jerry Schwartz who believes that Darling Harbour is a first-choice destination for business, convention and leisure travellers with complimenting districts in the surrounding for such an environment.

Shangri-La Replaces Traders with New Brand: Hotel Jen

25 year old brand Traders Hotel brand is to be replaced with new four-star Hotel Jen targeted at younger travelers. Hong Kong’s Shangri-La International Hotel Management implemented a two-pronged approach which includes the debut of 500-room Hotel Jen Orchardgateway Singapore on September 15, followed by the rebranding of the Traders Hotel, Singapore. China is the main focus for Hotel Jen’s expansion in Asia but the company is also looking at markets such as Japan, South Korea, Malaysia, Australia and Thailand. Shangri-La will be converting nine existing Traders properties in its first phase.

New Luxury Train by Cox & Kings in Maharashtra

Cox & Kings have been appointed by the Maharashtra Tourism Development Corporation (MTDC) to operate Deccan Odyssey, a luxury train covering destinations such as Goa, Ahmedabad, Hampi, Sanchi, Jaipur, Agra and Ranthambore. Deccan Odyssey begins its season on October 4 and will serve 10 different itineraries. Cox & Kings will manage all on-board and external services, sales, marketing, and operational activities related to the rail tour for the next five years in view of another five years extension after. The service is expected to attract an international market as Maharashtra receives around 20 per cent of the total foreign arrivals to India

Indonesians Chooses Singapore for Lebaran

Based on Wego Indonesia’s hotel and flight search data, Singapore is the first destination for Indonesians who are travelling during the Lebaran holiday. In the area of flight searches, Singapore and Kuala Lumpur ranked as second and third most sought destinations after Bali. Singapore was also the most searched overseas destination for hotels, coming in fifth place after Bandung, Bali, Yogyakarta and Jakarta. Thailand and China saw negative growth in flight searches, falling 20 per cent year-on-year, possibly due to the local political situations.

More International Hotels in the Former Capital of Laos

New entrants of international hotel brands and source markets hope to help Luang Prabang, Laos’ former capital to deliver as a potential cultural destination. Accor’s rebranding of Hotel De La Paix Luang Prabang and the 3 Nagas Luang Prabang under its Sofitel and MGallery brands respectively, as well as Aqua Expeditions’ launch of a luxury Mekong cruise to Vietnam and Cambodia that will take place by year-end are expected to boost international visitation. Growth came predominantly from traditional source markets such as Scandinavia, Switzerland, the Netherlands, New Zealand and Russia, but also newer markets including Latin America.

Helicopter Tourism for Myanmar

Airbus has considered rolling out its plans for helicopter rental services in Myanmar by end of 2014. Current air transportation services offered is only hot air ballooning with limited capacities to go to a place which is quite far or difficult to get to or stop somewhere to enjoy a picnic or an excursion. Lionel Sinai-Sinelnikoff, vice president and commercial director of Airbus Helicopters Southeast Asia said an official announcement would be made in future for further updates on the progress of implementation of the service.

Absolute Share Price Performance, as at 29 August 2014

Closing Share Price as at29 August 201422 August 2014% Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited9.889.633%
General Property Group3.994.09-2%
Mirvac Group1.841.86-1%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd39.5038.004%
Dusit Thani Public Co Ltd61.0061.00-
The Erawan Group Public Co Ltd4.724.661%
Grande Asset Hotels and Property Public Co Ltd1.601.591%
Laguna Resorts & Hotel Public Co Ltd33.0032.751%
Minor International Public Co Ltd35.2533.754%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development20.1819.802%
BTG Hotels Group Co Ltd14.9915.22-2%
Jinling Hotel Corporation Ltd9.069.51-5%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co Ltd5.826.16-6%
Guangzhou Dong Fang Hotel Co Ltd9.139.20-1%
Shenzhen Century Plaza Hotel Co Ltd4.994.99-
Huazhu Hotels Group Ltd26.0126.39-1%
Home Inns & Hotels Management Inc33.4634.49-3%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd9.9310.04-1%
Regal Hotels International Holdings Ltd4.674.73-1%
Sino Hotels Holdings Ltd2.552.512%
The Hong Kong & Shanghai Hotels Ltd11.4611.401%
Shangri-La Asia Limited12.0012.24-2%
Dorsett Hospitality International1.571.64-4%
National Stock Exchange
IHCL (Taj Hotels, Resorts & Palaces)96.5589.907%
EIH (Oberoi Hotels & Resorts)108.2599.009%
Hotel Leela Ventures23.7524.75-4%
Korea Exchange (KRW)
The Shilla119,000128,000-7%
Singapore Stock Exchange (S$)
Amara Holdings Ltd0.570.57-
Ascendas Hospitality Trust0.720.74-3%
Ascott Residence Trust1.241.231%
Banyan Tree Holdings Limited0.650.642%
CDL Hospitality Trusts1.651.65-
Far East Hospitality Trust0.850.832%
Hotel Grand Central Ltd1.351.332%
Hotel Properties Ltd4.284.29-
Mandarin Oriental International Ltd (US$)1.781.771%
OUE Hospitality Trust0.900.891%
Shangri-La Asia Limited (HK$)12.0212.02-
Stamford Land Corporation Ltd0.600.60-
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation336.00340.50-1%
The Ambassador Hotel, Ltd28.1527.602%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp.63,40063,600-
Imperial Hotel, Ltd2,2352,240-

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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