hôtel Vagabond in Singapore Joins Tribute Portfolio

Tribute Portfolio, part of Marriott International, debuted its first hotel in Singapore with the addition of hôtel vagabond, A Tribute Portfolio Hotel. Located just outside the central business district in Jalan Besar, the 41-key boutique property is owned by Harpreet Bedi and Santinder Garcha. Housed in a colonial-era Art Deco building, the hotel was designed by award-winning French designer Jacques Garcia and includes facilities such as an executive club lounge, a bar, a restaurant offering local signature dishes with a twist, and the Vagabond Salon – a modern interpretation of a Parisian salon. The hotel also features a signature rotational artist-in-residence program, which includes on-site performances, intimate events and interactive experiences. Under this program, local and international artists from all genres will be able to apply for a residency of up to three months, during which they will stay, work and interact with guests and visitors.

Marriott Set to Double Its Presence Across Australia, New Zealand and the Pacific by 2020

Following Marriott International’s recently completed acquisition of Starwood Hotels & Resorts, the company announced last week that it is on track to reach a target of 50 hotels for its Australia, New Zealand and Pacific portfolio by the end of 2020. Marriott currently has 24 hotels in operation in the region and a pipeline of signed and approved deals totaling an additional 18 properties. The properties in the pipeline will provide more than 2,500 hotel jobs and add more than 4,500 rooms. The world’s largest hotel company already has a strong market presence in Australia, in the key gateway cities of Sydney, Melbourne, Perth and Brisbane, and will be entering emerging primary and secondary destinations, with the signings of Four Points by Sheraton Parramatta, The Westin Resort & Spa Coolum, Aloft Adelaide and Sheraton Adelaide Hotel. Three additional brands – Aloft, W and The Ritz-Carlton, are also expected to be introduced to the region by year 2020, with the W Brisbane, and Aloft Perth scheduled to open in 2017, followed by Aloft Melbourne South Yarra and Aloft Adelaide in 2019, and The Ritz-Carlton, Melbourne and The Ritz-Carlton, Perth slated for 2020.

New Investments Emerge in Vietnam Due to Rising Tourism Demand

Vietnam witnessed a 25% increase in international arrivals between January and September this year, as compared to the same period in 2015, reaching nearly 7.3 million visitors. With visa policies expected to ease further in the coming year, tourist arrivals numbers into Vietnam should continue to soar. Going forward, major investments in airport infrastructure across the country are also in the offing. Tat Son Nhat International Airport (TSNIA) in Ho Chi Minh City is earmarked for an expansion to raise its capacity from the current 20 million passengers to 26 million passengers annually. A new airport in Long Thah is also anticipated to break ground in 2021 and will be able to accommodate 100 million passengers. Additionally, there is significant investment emphasis on Vietnam’s coastline, and Nha Trang, Da Nang, Phan Thiet, and Phu Quoc are expected to see a surge in new development projects in the near future.

Akaryn Hotel Group to Expand in Thailand and Laos with Three New Hotels

Thailand-based Akaryn Hotel Group (AHG) is set to open three new hotels this December – its most significant expansion move since establishment in 2007. The hotels include the AHG owned Akyra Beach Club Phuket, and two properties under management contracts – Akyra Thonglor Bangkok and The President by Akaryn. The Akyra Beach Club Phuket, which entailed a development cost of 200 million baht (US$5.7 million), is a 59-key property with guestrooms and stand-alone villas, located on Natai beach in the Phang Nga province. Resort facilities include a beach spa, a gym, a beach club offering dining options, and events space for weddings and themed parties. The Akyra Thonglor Bangkok, a 300-million-baht conversion of the Pan Pacific Serviced Suites Bangkok, will feature 140 rooms and suites as well as facilities including a pool bar, an executive lounge, meeting and function spaces, a restaurant, and a 24-hour fitness center. The group will also be making its maiden foray outside Thailand with the 32-key President by Akaryn in Vientiane, Laos. Strategically positioned on Setthathirath Road, and in the vicinity of the Parliament House and Haw Phra Kaew, the property is envisioned to become the landmark of Vientiane.

Absolute Share Price Performance, as on 3 Nov 2016