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HVS - ASIA PACIFIC HOSPITALITY NEWSLETTER - For The Week Ending 10 June 2016 (June 13, 2016)

Mövenpick Heritage Hotel in Sentosa to Be Rebranded as Le Méridien Singapore

Starwood Hotels & Resorts Worldwide is bringing Le Méridien back to Singapore, after leaving its shores for nearly a decade, with the brand set to take over management of the property formerly operated by Mövenpick Hotels & Resorts. The current Mövenpick Heritage Hotel Sentosa will undergo renovation and conversion works in the next few months. When completed, the Le Méridien Singapore, Sentosa will feature 191 rooms, including suites with private outdoor onsen pools, and a duplex penthouse suite with its own rooftop garden and infinity pool.  Le Méridien has plans to establish a firmer footing in Asia Pacific through debuting in Taiwan in the near future, as well as expanding its portfolio in gateway cities in China, India and Malaysia.

Qatar’s Al Sawari Holding to Mark Its Entry into India with 250-Room Hotel Project in Agra

Qatar-based Al Sawari Holding, a diversified private firm, signed a memorandum of understanding (MoU) with The Leela Palaces, Hotels and Resorts and Aiana Hotels & Resorts, to build a 250-room hotel complex in Agra, Uttar Pradesh. Located one kilometer from the Taj Mahal and spanning across six acres, the hotel complex will comprise two properties – a 100-room Leela Palace and a 150-room Aiana Hotel. The project will entail a 100% Foreign Direct Investment (FDI) of INR500 crore and is expected to be completed in 30 months. The MoU was formalized on the occasion of the visit of the Indian Prime Minister, Narendra Modi to Qatar. 

Holiday Inn & Suites to Debut in Ho Chi Minh City

Intercontinental Hotels Group (IHG) has signed a management agreement with Thuy Duong-Duc Binh Trading JSC, part of the holding affiliated with HD Bank and VietJet Air, for the development of a new Holiday Inn & Suites hotel in Ho Chi Minh City. Located in close proximity to the Tan Son Nhat International Airport, Holiday Inn & Suites Saigon Airport will offer easy access to the airport and will be connected to the downtown area via the upcoming metro line which is due to open in 2017. The 350-room hotel is scheduled to open in 2018 and will form part of a mixed-use development including a retail mall and a residential apartment. The hotel’s facilities will include an all-day dining restaurant, a lobby lounge, a café and a pool bar. Additionally, the property will feature a total of eight meeting rooms, a business center and a departure lounge. Currently, IHG operates six hotels across two brands in Vietnam, namely InterContinental and Crowne Plaza. IHG plans to double its portfolio in Vietnam to 12 properties within the next three to five years.

Hotel Openings in India This Week

Golden Tulip Hotels launched the Golden Tulip Hotel Bhiwadi, their first Serviced Apartment development in Bhiwadi, Haryana. The hotel offers 40 rooms and 16 apartments, two restaurants, a bar and lounge, and a pastry shop. The hotel also features 5,650 square feet of meeting space, a fitness center, a swimming pool and a spa. Bhiwadi is located in an industrial township with Neemrana and Khushkhera, approximately 44 kilometers southwest of Gurgaon, and witnesses a large inflow of Japanese expatriates.

The Clarks Inn Group of Hotels announced the opening of the Clarks Inn Suites Gwalior in Gwalior, Madhya Pradesh. The hotel features 60 rooms, two restaurants, two bars, a lounge, a spa, a swimming pool, and an 8,500 square feet roof top banquet space in addition to other indoor meeting spaces. Gwalior is a major historic city in the Indian state of Madhya Pradesh, and is famous for its fort, palaces and temples.

Philippines' First Tourism Enterprise Zone in the Works

The Philippine Department of Tourism (DoT) and the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) will be designating a site in San Vicente, Palawan as the country’s first Tourism Enterprise Zone. The site is earmarked for its tourist potential, particularly for its pristine natural attractions and robust infrastructure network including the upcoming San Vicente Airport. A study on San Vicente, in consultation with the municipal government and property owners, was embarked on to determine possible tourism products in the area. DoT is currently on the search for private investors to collaborate in the project.

Indian Railways Launches Tiger Express – India’s First Wildlife Tourism Train

Indian Railways launched the Tiger Express on World Environment Day, a semi-luxury train, initiated with the objective of creating awareness about conservation of tigers. The train will offer an itinerary of five days and six nights, starting from Delhi’s Safdarjung Railway Station and travelling via Katani, Jabalpur, Bandhavgarh and Kanha in Madhya Pradesh. Both the Kanha and the Bandhavgarh National Parks are well known for their tiger population and biodiversity in the country. The itinerary will also include a visit to the famous Dhadhar Waterfall in Dedhaghat, near Jabalpur. The train, operated by Indian Railway Catering and Tourism Corporation (IRCTC), is also the first semi-luxury train to feature a dining cart. Scheduled monthly trips will commence from October.

Absolute Share Price Performance, as on 9 June 2016

Closing Share Price as at 9 Jun 2016 2 Jun 2016 % Change
Australia Stock Exchange (ASX)
Event Hospitality and Entertainment Ltd 14.81 15.00 -1.3%
General Property Group 5.40 5.39 0.2%
Mirvac Group 2.01 1.94 3.6%
Mantra Group 3.83 3.94 -2.8%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 40.25 38.75 3.9%
Dusit Thani Public Co Ltd 8.40 8.20 2.4%
The Erawan Group Public Co Ltd 4.62 4.58 0.9%
Grande Asset Hotels and Property Public Co Ltd 0.91 0.91 0.0%
Laguna Resorts & Hotel Public Co Ltd 25.75 25.75 0.0%
Minor International Public Co Ltd 40.50 39.25 3.2%
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd 12.78 12.70 0.6%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co Ltd 6.46 6.43 0.5%
Guangzhou Dong Fang Hotel Co Ltd 13.12 13.12 0.0%
NASDAQ (US$)
China Lodging Group Ltd 34.68 34.26 1.2%
Home Inns & Hotels Management Inc 35.71 35.71 0.0%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 14.00 14.06 -0.4%
Regal Hotels International Holdings Ltd 3.31 3.40 -2.6%
Sino Hotels Holdings Ltd 2.50 2.50 0.0%
The Hong Kong & Shanghai Hotels Ltd 8.13 8.20 -0.9%
Shangri-La Asia Limited 8.76 8.77 -0.1%
Dorsett Hospitality International 1.54 1.54 0.0%
National Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 126.45 120.45 5.0%
EIH (Oberoi Hotels & Resorts) 107.80 105.55 2.1%
Hotel Leela Ventures 17.50 17.05 2.6%
Korea Exchange (KRW)
The Shilla 65500 65300 0.3%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.41 0.42 -2.4%
Ascendas Hospitality Trust 0.67 0.66 0.8%
Ascott Residence Trust 1.14 1.14 0.4%
Banyan Tree Holdings Limited 0.50 0.49 3.1%
CDL Hospitality Trusts 1.43 1.40 1.8%
Far East Hospitality Trust 0.61 0.61 0.0%
Hotel Grand Central Ltd 1.30 1.25 4.0%
Hotel Properties Ltd 3.55 3.46 2.6%
Mandarin Oriental International Ltd (US$) 1.38 1.42 -2.8%
OUE Hospitality Trust 0.67 0.67 0.8%
Stamford Land Corporation Ltd 0.48 0.48 0.0%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 184.50 189.00 0.0%
The Ambassador Hotel, Ltd 27.55 26.90 1.1%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 97900 95700 2.3%
Imperial Hotel, Ltd 2310 2300 0.4%

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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