HVS - ASIA PACIFIC HOSPITALITY NEWSLETTER - For The Week Ending 12 August 2016 (August 15, 2016)

Crowne Plaza Changi Airport Opens 10-Storey Extension Adding 243 New Rooms

Crowne Plaza Changi Airport, named the World’s Best Airport Hotel by Skytrax World Airport Awards in 2015 and 2016, recently revealed its new 10-storey extension. The extension, featuring 243 rooms specifically designed for business travelers, will increase the hotel’s total capacity by over 75%. With a total of 563 rooms now, Crowne Plaza Changi Airport will be able to cater to an increasing number of visitors to Singapore, as Changi Airport continues to grow as a key regional aviation hub with upcoming developments such as Terminal 4 and Jewel Changi Airport in the next few years. Designed by Singapore-based architectural firm WOHA, who also designed the main building, the extension was developed by OUE Limited using Prefabricated Prefinished Volumetric Construction (PPVC) techniques – a first for a private-sector commercial project in Singapore.

Ascott Opens First Citadines Serviced Residence in South Korea’s Capital

CapitaLand’s wholly-owned serviced residence business, The Ascott Limited (Ascott) has opened the Citadines Han River Seoul – its first Citadines-branded property in Seoul. The 149-unit property marks Ascott’s continued expansion in South Korea, with over 1,000 units currently in operation in the country. Situated in Yeongdeungpo-gu, close to the Yeouido and Gangnam financial districts, Citadines Han River Seoul offers easy access to major business complexes, entertainment venues and shopping centers. Ascott’s Country General Manager for Korea, Max Phillips, commented, “Citadines Han River Seoul is our second Citadines-branded serviced residence in South Korea, catering to the growing number of independent travelers who prefer the flexibility to choose the services according to their lifestyles. Since Ascott’s acquisition of the Citadines Apart’hotel chain in 2004, Citadines has become one of our fastest growing brands and its portfolio has more than tripled from the initial 5,100 units to almost 16,000 units in 64 cities across Asia Pacific, Europe and the Middle East.”

Luxury Cruise from Mumbai to the Maldives, to Start This December

Luxury cruise line, Costa Cruises has launched a seven-night cruise on the Costa neoClassica, from Mumbai, India to Malé, the capital of the Maldives. The Costa neoClassica has 654 cabins and suites that can accommodate up to 1,700 passengers. The ship also features a casino, a theater, a library, a discotheque, a ballroom, a variety of dining options, a bar, a wellness center, two swimming pools and a gym. The cruise will operate from 16 December 2016 to 18 March 2017. The liner will stop at Mangaluru and Kochi on its way to the Maldives.

Absolute Share Price Performance, as on 11 Aug 2016

Closing Share Price as at 11 August 2016 04 August 2016 % Change
Australia Stock Exchange (ASX)
Event Hospitality and Entertainment Ltd 20.70 14.90 38.9%
General Property Group 5.47 5.50 -0.5%
Mirvac Group 2.12 2.15 -1.4%
Mantra Group 3.55 3.35 6.0%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 42.75 41.75 2.4%
Dusit Thani Public Co Ltd 11.10 11.50 -3.5%
The Erawan Group Public Co Ltd 5.00 5.10 -2.0%
Grande Asset Hotels and Property Public Co Ltd 0.88 0.93 -5.4%
Laguna Resorts & Hotel Public Co Ltd 27.75 28.00 -0.9%
Minor International Public Co Ltd 41.75 41.00 1.8%
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd 12.93 13.17 -1.8%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co Ltd 7.72 6.77 14.0%
Guangzhou Dong Fang Hotel Co Ltd 13.12 13.12 0.0%
China Lodging Group Ltd 38.35 38.19 0.4%
Home Inns & Hotels Management Inc 35.71 35.71 0.0%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 13.62 13.48 1.0%
Regal Hotels International Holdings Ltd 3.83 3.79 1.1%
Sino Hotels Holdings Ltd 2.49 2.48 0.4%
The Hong Kong & Shanghai Hotels Ltd 8.07 8.18 -1.3%
Shangri-La Asia Limited 8.66 8.61 0.6%
Dorsett Hospitality International 1.54 1.54 0.0%
National Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 128.15 132.75 -3.5%
EIH (Oberoi Hotels & Resorts) 110.00 111.10 -1.0%
Hotel Leela Ventures 17.65 18.05 -2.2%
Korea Exchange (KRW)
The Shilla 62400 61000 2.3%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.420 0.415 1.2%
Ascendas Hospitality Trust 0.730 0.740 -1.4%
Ascott Residence Trust 1.135 1.130 0.4%
Banyan Tree Holdings Limited 0.440 0.430 2.3%
CDL Hospitality Trusts 1.395 1.425 -2.1%
Far East Hospitality Trust 0.610 0.605 0.8%
Frasers Hospitality Trust 0.770 0.785 -1.9%
Hotel Grand Central Ltd 1.325 1.340 -1.1%
Hotel Properties Ltd 3.500 3.500 0.0%
Mandarin Oriental International Ltd (US$) 1.380 1.340 3.0%
OUE Hospitality Trust 0.680 0.690 -1.4%
Stamford Land Corporation Ltd 0.465 0.475 -2.1%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 179.00 184.50 -3.0%
The Ambassador Hotel, Ltd 25.65 25.90 -1.0%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 87000 83900 3.7%
Imperial Hotel, Ltd 2139 2125 0.7%

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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