Crowne Plaza Kota Kinabalu Waterfront Hotel to Open in 2021

Golden Wave Sdn Bhd and InterContinental Hotels Group have recently signed a hotel management agreement for a 367-room hotel, which is scheduled to open by 2021 in Kota Kinabalu, Sabah, East Malaysia. The Crowne Plaza Kota Kinabalu Waterfront will be one of the components of a mixed-use development alongside high-end residences and several food and beverage outlets, which offer striking views of the waterfront. The hotel will be approximately a 10-minute drive away from the Kota Kinabalu International Airport and within walking distance to major offices, shopping malls and tourist attractions, making it a strong choice for travelers who look to reduce travel time. While Kota Kinabalu is recognized to be one of the newest emerging tourist destinations in Malaysia, the hotel is expected to also benefit by being a popular option for both business and leisure travellers due to its prime location.
 

Crown Resorts Gains Approval for Melbourne Hotel and Apartment Skyscraper

Crown Resorts and joint venture partner Schiavello have received a conditional planning approval to build a 90-storey hotel and apartment skyscraper, which is to be known as One Queensbridge and Australia’s next tallest tower. The venture is expected to deliver a $100 million in community benefits as part of the agreement for the planning approval with the state labour government. With a plot ratio of 56 to one, the development will cover over 200,000 square metres of space on a plot of 1,653 square metres. One Queensbridge will consist of a large accommodation inventory of 388 hotel rooms and 708 residential apartments and it will be connected to the Crown Casino. The development is expected to have a construction cost of AU$1.7 billion.

Australia Hotel Market Expands Aggressively to Capture Chinese Tourists Boom

At present, the tourism industry has outperformed the coal industry in Australia, being the country’s second-largest sector to grow 11.5% year-on-year to AU$53 billion in 2016. This is due to the high tourism spending and visitation of the Chinese tourists in Australia, drastically propelling upwards both hotel rates and occupancy levels. Marketwide occupancy has reached a record high of 67% while popular destinations such as Sydney and Melbourne enjoy occupancy rates as high as 90 percent. According to Deloitte Access Economics, the pipeline of tourism-related projects are worth nearly AU$20 billion. Australia expects approximately 120 new hotels in the pipeline till 2021, which will contribute around an additional 30% of total hotel room supply.

Best Western Enters Inle Lake, Myanmar

The recently-opened Best Western Thousand Island Hotel is located 28 kilometres from Heho Airport that provides several domestic flight connections to cities such as Yangon and Mandalay. The hotel will also provide 48 rooms on the busy riverfront of Nyuang Shwe. The city is located north of Inle Lake, which is known as a main trade and transportation gateway to Inle. Recognised as a UNESCO Biosphere Reserve, Inle Lake is also one of Myanmar’s most iconic visitor attractions as it is famous for the Intha fisherman and floating gardens. The new hotel is Best Western’s third property in Myanmar alongside two other properties in Yangon: Best Western Green Hill Hotel and Best Western Chinatown Hotel.

China Hotel Investment Conference (CHIC) Gears Up for its 13th Edition

CHIC 2017 will take place at the in Shanghai, China on 17 and 18 May. The event will feature a series of master class sessions on topics related to existing and proposed hotels. Confirmed notable speakers include Pr. Dai Bin, President, China Tourism Academy; Andrew Jessop, Vice President Development Worldwide, Langham Hotels International; Clay Markham, Vice President, CallisonRTKL; Daniel Voellm, Managing Partner, HVS Asia Pacific; David Su, Co-Founder, Glory Fund Management Group & Managing Partner of GCIG - Global Capital Investments Group; David Greenbaum, Vice President, SmithGroupJJR; Gavin Yu, Vice President, Hotel Development, China, Marriott International; Ingo Schweder, CEO, GOCO Hospitality; Leo Yan, Senior Vice President Real Estate and Development; Manav Thadani, Chairman-APAC, HVS and Co-Founder & Director of SAMHI; Oliver Tittmann, Director, XCUBE High End Modular Prefabricated Container Building Manufacturer; and Wayne Li, Executive Director & Vice President Development, Greater China of AccorHotels, among others. CHIC is hosted by HVS and co-hosted by China Tourism Academy and Beijing International Studies University.
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Absolute Share Price Performance, as on 10 February 2017