Hosted by HVS, the inaugural THINC Sri Lanka conference concluded successfully on 11 February, 2016. It attracted more than 175 delegates from across 14 countries, comprising an interesting mix of prominent regional and global industry players. The conference kick started the year with insights into the country’s changing tourism and hospitality landscape, and also identified opportunities for future investment and development by key industry stakeholders.
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Meliá Hotels International announced the signing of Meliá Bintan, with Kurnia Land, on 7 March, 2016. This is the group’s 15th hotel in Indonesia and second on the island of Bintan. The new development represents the hotel group’s growing presence in the country, and is another milestone in its development and growth strategy in Indonesia and Asia. Meliá Bintan is located in a coastal enclave, with 280 rooms, villas and a large-scale convention center covering an area of eight hectares. Managed under the Meliá Hotels & Resorts brand, the hotel will have the brand’s signature amenities and facilities. Currently, Meliá Hotels International manages 32 hotels in the region, with seven of them due to open this year. The group aims to double its portfolio in the Asian region in the next three years.
The Ascott Limited was awarded the lease to operate a 50-unit serviced residence located in one-north business park, Singapore’s research and development hub, which houses more than 400 companies. The currently operating serviced residence will be rebranded to Citadines Fusionopolis Singapore from 1 April, 2016. This new addition will strengthen Ascott’s presence in Singapore, which is one of the serviced residence brand’s top revenue-generating markets globally. After the opening of Citadines Fusionopolis, the 20-storey Ascott Orchard Singapore is set to open in early 2017. The two new openings will increase Ascott’s Singapore portfolio to eight properties.
Bespoke Hospitality Management Asia (BHMA) plans to sign 20 hotel management agreements per year with domestic and overseas hotels to cash in on the growth of the tourism industry. In the next three years, the group will operate 44 hotels and resorts, comprising more than 3,000 rooms. According to Anthony McDonald, Chief Executive Officer, the group will expand its presence abroad to manage hotels in Myanmar, Luang Prabang and Siem Reap this year. The group is also eyeing opportunities in the Middle East, Europe and Japan. The group’s expansion will mostly be in the form of hotel management agreements, while some hotels may be joint ventures. BHMA currently operates hotels under four brands including X2, X2 Vibe, Away and Golden Tulip. Recently, the group expanded its ‘Away’ portfolio with the opening of the 34-room Away Chiang Mai Hot Spring Resort.
Last week, Chinese Premier Li Keqiang delivered the ‘Report on the Work of the Government’ at the Fourth Session of the 12th National People's Congress (NPC), People's Republic of China. Among several key declarations, the Chinese Government announced a few critical action steps, policy measures and reforms in order to bolster the country’s tourism growth, thereby emphasizing a renewed focus on enhancing its tourism industry. Li Keqiang said that some of their fundamental imperatives would be to tap the potential of domestic demand to increase the space for development; achieve a moderate expansion of aggregate demand; adjust and reform the composition of demand; strive for better alignment between supply and demand, and between investment and consumption, and to achieve greater balance in the development of urban and rural areas and of different regions. Other action steps would include a reduction in import tariffs on some consumer goods and increasing the number of duty-free stores; strengthening development of tourist and transport facilities, scenic spots, tourist sites and recreational vehicle parks, and ensuring that the tourist market operates in line with regulations, in an effort to usher in a new era of mass tourism.
Closing Share Price as at
10 Mar 2016
3 Mar 2016
Australia Stock Exchange (ASX)
Event Hospitality and Entertainment Ltd
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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