One of Sydney's most iconic sandstone landmarks, that has been closed to the public since 1800s, will be transformed into a world-class luxury hotel. The heritage-listed 'Sandstones' on Bridge Street in Sydney's CBD, which were reserved as government offices, are due to undergo a AUD300 million redevelopment in 2017. Back in September 2015, one of Singapore’s largest property developers – Pontiac Land Group, attained development rights for these two highly sought-after buildings. They will reportedly pay the NSW government AUD35 million for the 103-year lease. Designs for the buildings unveil plans for a ground-level retail, dining, rooftop salon and more than 250 hotel rooms and suites. To be completed by the end of 2020, the hotel development is expected to deliver a boost to the NSW economy by yielding more than AUD185 million over the next 20 years and creating 350 new jobs. This is also anticipated to help increase overnight visitor expenditure from AUD18.3 billion in 2009 to achieve the AUD36.6 billion target by 2020.
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Bangkok-based Bespoke Hospitality Management Asia (BHMAsia) has signed its sixth hotel management contract in Vietnam. Scheduled to debut in 2017, the X2 Vibe Hoi An Residence will be their first property to open in the country. The project will feature a total of 230 residential units and will form part of the New Hoi An City development. In addition to the X2 Vibe Hoi An, BHMAsia will also launch the X2 Halong Bay Hill Resort in 2017. In 2018 the company plans to open the Away Danang Thuy Tu Resort, Away Elite Hoi An Hotel and Residence, X2 Danang Resort and the X2 Vibe Viet Tri Hotel. BHMAsia’s pipeline in Vietnam now includes properties in Danang, Hoi An, Halong Bay and Viet Tri with a total inventory of more than 850 rooms. The group expects to have more than 10 projects under development by the end of the year, and 16 by the end of 2017.
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Golden Tulip Hotels announced the opening of the Royal Tulip Shimla – Kufri Hills in Kufri, Himachal Pradesh, India. Located 8,600 feet above sea level and approximately 16 kilometers east of Shimla, the hotel features 57 rooms and suites, two restaurants, a bar, a ballroom measuring 6,300 square feet, a fitness center, a spa, a swimming pool and a library. Kufri is a small hill station in Shimla, in the Indian state of Himachal Pradesh. Shimla is also the largest city and the capital of the state.
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A mixed performance was observed for domestic hotel groups in China, in the third quarter of 2016. BTG Hotels presented a strong performance, mainly attributed to its acquisition of Home Inns, recording a five-fold year-on-year growth in the third quarter. Jinling Hotels & Resorts achieved an operating revenue of RMB606 million for the first three quarters, with a year-on-year growth of 12.73%. By adopting a multi-brand strategy to merge with Plateno Hotels Group, Vienna Hotels and Louvre Hotels Group, Jin Jiang Hotels’ operating revenue increased by more than 80% as compared to the third quarter of last year. On the contrary, Huatian Hotel Group suffered a loss of RMB123 million for the first three quarters, continuing a declining performance for three consecutive years.
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Closing Share Price as at |
11 Nov 2016 |
3 Nov 2016 |
% Change |
Australia Stock Exchange (ASX) |
Event Hospitality and Entertainment Ltd |
14.42 |
14.21 |
1.5% |
General Property Group |
4.38 |
4.61 |
-5.0% |
Mirvac Group |
1.95 |
2.04 |
-4.4% |
Mantra Group |
3.2 |
3.17 |
0.9% |
Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
38.25 |
38.00 |
0.7% |
Dusit Thani Public Co Ltd |
10 |
10.10 |
-1.0% |
The Erawan Group Public Co Ltd |
4.54 |
4.50 |
0.9% |
Grande Asset Hotels and Property Public Co Ltd |
0.82 |
0.81 |
1.2% |
Laguna Resorts & Hotel Public Co Ltd |
24.2 |
24.50 |
-1.2% |
Minor International Public Co Ltd |
37.25 |
36.75 |
1.4% |
China Shanghai Stock Exchange (RMB) |
Jinling Hotel Corporation Ltd |
13.94 |
13.65 |
2.1% |
China Shenzhen Stock Exchange (RMB) |
Huatian Hotel Group Co Ltd |
7.21 |
7.09 |
1.7% |
Guangzhou Dong Fang Hotel Co Ltd |
18.34 |
17.82 |
2.9% |
NASDAQ (US$) |
China Lodging Group Ltd |
45.22 |
42.11 |
7.4% |
Home Inns & Hotels Management Inc |
35.71 |
35.71 |
0.0% |
Hong Kong Stock Exchange (HK$) |
Miramar Hotel & Investment Co Ltd |
15.90 |
15.44 |
3.0% |
Regal Hotels International Holdings Ltd |
4.27 |
4.33 |
-1.4% |
Sino Hotels Holdings Ltd |
2.60 |
2.60 |
0.0% |
The Hong Kong & Shanghai Hotels Ltd |
8.48 |
8.60 |
-1.4% |
Shangri-La Asia Limited |
8.64 |
8.38 |
3.1% |
Dorsett Hospitality International |
1.54 |
1.54 |
0.0% |
National Stock Exchange (INR) |
IHCL (Taj Hotels, Resorts & Palaces) |
105.00 |
109.30 |
-3.9% |
EIH (Oberoi Hotels & Resorts) |
104.00 |
108.00 |
-3.7% |
Hotel Leela Ventures |
17.05 |
17.95 |
-5.0% |
Korea Exchange (KRW) |
The Shilla |
52,300 |
52,500 |
-0.4% |
Singapore Stock Exchange (S$) |
Amara Holdings Ltd |
0.400 |
0.405 |
-1.2% |
Ascendas Hospitality Trust |
0.735 |
0.730 |
0.7% |
Ascott Residence Trust |
1.140 |
1.130 |
0.9% |
Banyan Tree Holdings Limited |
0.380 |
0.380 |
0.0% |
CDL Hospitality Trusts |
1.325 |
1.330 |
-0.4% |
Far East Hospitality Trust |
0.600 |
0.605 |
-0.8% |
Frasers Hospitality Trust |
0.675 |
0.695 |
-2.9% |
Hotel Grand Central Ltd |
1.370 |
1.370 |
0.0% |
Hotel Properties Ltd |
3.420 |
3.400 |
0.6% |
Mandarin Oriental International Ltd (US$) |
1.380 |
1.370 |
0.7% |
OUE Hospitality Trust |
0.655 |
0.690 |
-5.1% |
Stamford Land Corporation Ltd |
0.465 |
0.460 |
1.1% |
Taiwan Stock Exchange (NT$) |
Formosa International Hotels Corporation |
174.00 |
176.00 |
-1.1% |
The Ambassador Hotel, Ltd |
24.05 |
24.10 |
-0.2% |
Tokyo Stock Exchange (JPY) |
Japan Hotel REIT Investment Corp. |
73,100 |
73,100 |
0.0% |
Imperial Hotel, Ltd |
2,062 |
2,099 |
-1.8% |
Red Planet Japan Inc |
31 |
30 |
3.3% |
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