Rosewood Hong Kong to Debut in 2018

Rosewood Hotels & Resorts will debut its first property in Hong Kong in 2018, in a prime Victoria Harbor waterfront location at the former New World Centre on Salisbury Road in Tsim Sha Tsui.. The 398-key ultra-luxury hotel will occupy 27 floors of a multi-use tower owned by New World Development Company Limited. Rosewood Hong Kong will offer eight dining options, an executive club lounge, meeting and event spaces, a fitness center, and a swimming pool. Additionally, the 199-room Rosewood Residences will be located on the top 19 floors of the tower and will provide luxury accommodations for longer stays. Guests will have access to a dedicated lounge, an indoor swimming pool and a fitness center, along with special services and amenities for residents.

China’s First IntercityHotel to Open in Qingdao

Continuing its ongoing international expansion, Deutsche Hospitality recently opened its first IntercityHotel in China, one of the most succesful brands under its portfolio, in the coastal city of Qingdao. The IntercityHotel Qingdao features 281 rooms, 500 square metres of meeting and events space, and three restaurants. It is also the first hotel to be located in the Sino-German Ecopark, a joint venture between the Chinese and German governments, established with the aim of creating an ecological living space and of attracting environmentally friendly companies from the areas of green energy technology, the automobile industry and its supplier chain, automation engineering, biological sciences and the pharmaceutical sector. Deutsche Hospitality is the new umbrella brand for the companies of Steigenberger Hotels AG and comprises the Steigenberger Hotels & Resorts, Jaz in the City and IntercityHotel brands. Their portfolio included a total of 116 hotels, 20 of which are at the development stage.

Fern Hotels Opens the Fern Goregaon in Mumbai, India

Fern Hotels announced the opening of the Fern Goregaon in Mumbai, Maharashtra, last week. The property is situated 7.5 kilometers north of the domestic airport and 7 kilometers north of the international airport. Additionally, the Bombay Exhibition & Convention Centre (BECC) is located 0.9 kilometers south of the hotel. The property features 89 rooms, with base category rooms measuring approximately 25 square meters, an all-day dining restaurant, a swimming pool and a fitness center. The Fern Goregaon is owned by IJB Hotels Pvt. Ltd. and managed by Concept Hospitality Pvt. Ltd.

StayWell Hospitality Eyes Expansion in Thailand and Vietnam

Sydney-based StayWell Hospitality Group is eyeing further international expansion by forming a new partnership with Asian hotel management group, Hospitality Management Solutions Co. Ltd. The newly formed Master Licensing Agreement will enable StayWell to significantly grow its Park Regis and Leisure Inn brands in Vietnam and Thailand. This agreement follows the formation of a UK-based partnership between StayWell and Fiveways Hospitality, which is also focused on the expansion of Park Regis and Leisure Inn brands within the UK market. “We have had our eye on the UK and the ASEAN region, in particular Vietnam and Thailand as a key part of reaching our global target of 100 hotels in the next three years.”, commented Simon Wan, CEO of StayWell Hospitality.

Largest Hotel Supply Wave in 30 Years for Perth

Hotels in Perth have witnessed a decline of almost 7% in average daily rates, from AUD200 in 2015 to AUD187 in 2016, while occupancy level has been maintained at 81% as of year-to-date July 2016. Going forward, industry experts expect approximately 4,500 additional hotel rooms to enter the market by 2020, bringing the total room supply to 15,000 hotel rooms in the Greater-Perth area. As of July 2016, Tourism Council of Western Australia reported an estimated 2,400 rooms to open by 2020 in Perth alone. If realized, Perth will witness its largest development wave in 30 years. Maintaining room rates will be a growing challenge for hotels in Perth as new supply enters the market. However, despite the slowdown in hotel performance, many developers and hotel owners are confident that the growth of middle-class in Asia would help increase tourism to Perth and competition across hotels in future will be minimized as hotels will look to create greater differentiation in guests’ stay experience.

GMR and Goa Government to Develop Mopa Airport in Goa

Bengaluru-based GMR Group has signed a concession agreement with the Government of Goa to develop and operate a greenfield airport project at Mopa in North Goa – the state’s second airport. The agreement allows GMR to design, build and operate the proposed international airport for a period of 40 years, with an option of a 20-year extension. Construction of the airport is set to commence in early 2017 and is set to be completed in four phases, with the first phase of the airport slated for completion by 2019/20. During its first phase, the airport will handle a passenger traffic of 4.4 million per annum, adding to the current passenger capacity of 5.5 million per annum at the existing Dabolim airport.  In its bid, GMR has pledged 36.99% revenue sharing with the state government over the project. Goa presently has restricted air capacity as Goa International Airport at Dabolim is a part of the INS Hansa military air base. The proposed international airport at Mopa, once operational, is likely to enhance Goa’s regional connectivity and provide a boost to its tourism and hospitality sector.

Absolute Share Price Performance, as on 17 Nov 2016