Hyatt Regency to Debut in Phnom Penh, Cambodia in 2020

Hyatt Hotels Corporation recently announced the signing of a management agreement with the Chip Mong Group, a leading Cambodian conglomerate with a diverse portfolio ranging from manufacturing of construction materials to real estate and property development, as well as production of beverage and consumer products. Under this new partnership, Hyatt Hotels Corporation will be managing the 250-key Hyatt Regency Phnom Penh, the first Hyatt Regency hotel in Cambodia. Expected to commence operations in 2020, the property will be located in close proximity to some of the city’s most popular tourist attractions, such as the National Museum and the Royal Palace, as well as cafés, restaurants and art galleries in the area. It will cater to leisure and corporate travelers alike, providing a full-service offering of facilities that will include authentic food and beverage outlets, a fitness center, a spa, a rooftop swimming pool and bar, as well as banquet space for weddings, social functions and other MICE events.

Singapore-based SC Capital to Raise US$1 billion in New Fund for Asian Properties

SC Capital Partners, a private-equity real estate firm with investments throughout Asia, plans to raise about US$1 billion to expand its portfolio in the region. New funds will come from institutional investors in early 2017 for real estate opportunities in countries such as Japan and Australia, said Suchad Chiaranussati, Chairman and Founder of the Singapore-based company. As central banks continue to keep their benchmark interest rates low, global investors are increasingly looking at higher-yielding assets. Even with the recent selloff in global debt markets, bond yields from the US to Japan and Europe are close to record lows, enhancing the appeal of riskier assets such as real estate. As per Suchad, there are a number of office buildings, hotels and other properties in the region which have potential for good investment returns. Additionally, robust tourism market in some Asian markets such as Japan and Thailand has boosted demand for commercial properties. With about US$5 billion in assets, SC Captial currently manages money for investors including endowments and pension funds from the US, Europe and Asia. Its fund holdings include hotels, beach villas and office buildings in countries such as Australia, South Korea, the Maldives, Japan and Thailand.

Luneng Group and BBC Worldwide Join Hands to Build World-Class Theme Parks

Luneng Group, a unit of the State Grid Corporation of China, and BBC Worldwide recently reached a preliminary development agreement to develop world-class leisure and amusement parks within the Luneng-Shanhaitian mega development in Wenchang, Hainan province (a South China Sea island that is a tourist hot spot). According to the framework agreement, the theme parks will use the concepts of two of BBC Worldwide's biggest and most successful global brands - BBC Earth and Top Gear. Zhou Tao, Executive Director of Luneng Commerce and Tourism, said that the company will invest nearly 10 billion yuan (US$1.5 billion) on developing the 400,000-square-meter facility and to buy intellectual property rights from BBC Worldwide. The park is estimated to attract about 3 million visitors in 2019, the first year of its operations, and about 5 million progressively. Zhou further added that the plans fall in line with China’s theme park boom, especially in an area “hungry to be entertained”. The parks are aimed at driving the local economy, generating employment, encouraging extended visitor stays and attracting international tourists to the region.

Hotel openings in India This Week

AccorHotels launched its first ibis Styles in Goa, India. Located approximately 1 kilometer north of Calangute Beach, the ibis Styles Goa Calangute features 197 rooms, each measuring 23 square meters and with a private balcony. The hotel is divided into two sections – one for families with children and the other for couples, single travelers or groups. Other facilities in the hotel include an all-day dining restaurant, a bar, a swimming pool, a fitness center and a 2,200 square feet banquet hall. Known for its brand individuality, the ibis Styles is designed to reflect its Portuguese heritage, and is inspired by local art and design.
Sarovar Hotels announced the opening of its fourth hotel in Bengaluru, the RBD Sarovar Portico, in close proximity to the IT Hub in Outer Ring Road and Whitefield, two of the most prominent micro markets in Bengaluru. The hotel features 86 rooms with base category rooms measuring approximately 19 square meters. The hotel also features a 2,300 square feet banquet hall, an all-day dining restaurant with an attached bar, and a fitness center.

Absolute Share Price Performance, as on 29 September 2016