AccorHotels and Banyan Tree Holdings Form Strategic Partnership

Singapore-listed Banyan Tree Holdings announced a S$24 million plan to tie up with global hospitality giant AccorHotels. Under this long-term partnership, both parties will collaborate to develop and manage Banyan Tree branded hotels across the world. The investment will be made through a mandatory convertible debenture that at conversion will give AccorHotels a stake of about 5 percent in Banyan Tree, with an option to purchase approximately another five percent stake. Currently, Banyan Tree has 43 hotels and resorts, 64 spas, 77 retail galleries and three golf courses in 28 countries, and this partnership will allow them access to AccorHotels’ worldwide reservations and sales network as well as its loyalty program – Le Club AccorHotels. In return, Banyan Tree’s strong presence in the luxury hotel space across Asia will serve as a good opportunity for AccorHotels to complement their future business propositions to owners with iconic brands.
 

The Oberoi Group Opens The Oberoi Sukhvilas Resort & Spa in Chandigarh, India

Oberoi Hotel & Resorts announced the opening of The Oberoi Sukhvilas Resort & Spa in Chandigarh, Punjab. Located in the Siswan Forest range, the resort is surrounded by over 8,000 acres of protected natural forest at the foothills of the outer Himalayas, and is approximately 30 kilometer north of the Chandigarh International Airport. The luxury resort features 60 rooms, tents and villas, an all-day dining restaurant, a bar, a ballroom measuring 3,320 square feet, a swimming pool, a fitness center, and a spa spanning 12,000 square feet adjacent to the forest.

Hilton Opens Third Hotel in Bali

Hilton Bali Resort has officially opened in Nusa Dua, the exclusive tourist enclave in south-eastern Bali. Rebranded and renovated from the former Grand Nikko Resort, the resort covers a sprawling 11 hectares of land, beginning at the top of a 40-metre-high cliff and ending on a beach. It is located within 1.3 kilometers of the 18-hole Bali National Golf Course and various water sports centers, and 3.7 kilometers from the Bali Nusa Dua Convention Center. Hilton Bali Resort features 389 guest rooms and suites as well as 19 exclusive villas. Facilities at the resort include the Mandara Spa, a fitness centre, four interconnecting swimming pools, a kids club, an observation deck, three indoor tennis courts and a retail outlet. Furthermore, the property offers 8,470 square meters of indoor and outdoor event space including two conference centers, each featuring a 1,500-capacity pillar-less ballroom, nine break-out rooms and multiple pre-function areas.

Carlson Rezidor Hotel Group Launches the Radisson Blu Coimbatore in Coimbatore

Carlson Rezidor Hotel Group opened the Radisson Blu Coimbatore in Tamil Nadu, last week. Located approximately 7 kilometers southwest of Coimbatore International Airport, the hotel is owned by GBJ Hotels Pvt. Ltd. and features 135 guest rooms, two restaurants, a bar, a fitness center, a swimming pool, a spa and approximately 8,800 square feet of indoor meeting space. Coimbatore is the second largest city in the south Indian state of Tamil Nadu and is often referred to as the Manchester of South India, due to its textile mills, industrial activity and surrounding cotton fields.

Major Mergers and Acquisitions of Hotel Groups by Chinese Companies in 2016

In 2016, mergers and acquisitions of domestic and overseas hotel groups by Chinese companies were observed to be dynamic. In February, Jin Jiang International completed the acquisition of  Plateno Hotels Group by holding 81% of its stakes to become the largest hotel group in China. In April, Jin Jiang International acquired 80% of Vienna Hotels Group’s stakes at RMB1.7488 billion. In August, Linnan Group acquired 100% stakes of Garden Hotel and China Hotel, respectively. In October, BTG Hotels acquired 100% of Home Inns’ stakes to emerge as the second largest hotel group in China. In October, HNA Tourism announced the acqisition of 25% of Hilton Hotels & Resorts’ shares held by Blackstone Group at approximately US$6.5 billion. In October, China Life Insurance Company Limited acquired Starwood Capital’s select-service hotels in America at US$2 billion.

Government of India Liberalizes Electronic Visa Policy in India

In addition to 16 airports, foreign nationals will now be able to enter India through five seaports, namely, Chennai, Goa, Kochi, Mangalore and Mumbai, with electronic visas (previously referred to as electronic tourist visa or eTV). The government also announced that business travelers and those coming for medical emergencies would be issued e-visas within 48 hours of application.  For medical tourists, separate immigration counters would be set up at the 16 airports and five seaports. As per the new policy, tourists traveling with e-visas will be able to stay for a period of 60 days, in comparison to the earlier 30-day period. Additionally, they will be able apply for the same four months in advance, in comparison to the earlier 30 days. The government is also extending employment visas to foreign nationals with an annual salary income of INR16.25 lac, and INR9.10 lac for those in the academic field. The conference, tourist and medical visas will be merged into one and an internship visa, for those wishing to gain professional experience in India, has also been introduced.

Absolute Share Price Performance, as on 8 Dec 2016