Mantra Group to Manage to GURNER’s AU$600 Million ‘FV’ Project in Brisbane

Mantra Group has secured management rights of the ‘FV’ Project, built by luxury property developer, GURNER. The management rights encompass 970 apartments across the project’s three towers, as well as portions of the 4,000 square meters of commercial space and leisure facilities, comprising proposed multiple food and beverage premises, conference and business facilities, numerous pools, private spa areas, a gymnasium, private dining and moonlight cinema areas, along with the expansive hotel-style rooftop amenity atop the third tower. To be managed under Mantra’s high-end ‘Peppers’ brand, ‘FV by Peppers’ will be the Mantra Group’s largest property in Australia and the second largest globally. The property will be located in Fortitude Valley, a vibrant and upcoming precinct in metropolitan Brisbane. ‘FV by Peppers’ is expected to launch later this year, upon completion of the project’s first two stages of construction in Q3-2017. 

Choice Hotels Opens Clarion Inn, Jaipur in Rajasthan

Choice Hotels announced the opening of the Clarion Inn, Jaipur in the Rajasthan State Industrial Development and Investment Corporation (RIICO) area of Jaipur. The hotel features 90 rooms and suites, a multi-cuisine restaurant, a bar, a spa, a fitness center, a swimming pool, and two ballrooms. Popularly known as the ‘Pink City’ of India, Jaipur is the capital of Rajasthan and is one of the top leisure destinations in India, forming a part of the Golden Triangle circuit along with Delhi and Agra. 

Philippines’ Homegrown Brand, Seda to Undergo Scale-up of 15 Billion Philippine Pesos

With a goal to become Philippines’ leading hotel brand, The Ayala Land Hotels and Resorts Corp. plans to invest approximately P15 billion to expand its ‘Seda’ brand within the next three years. Established in 2012, Seda currently has a portfolio of five hotels with an inventory of 817 rooms and, under the expansion program, this is projected to grow to a total of 3,281 rooms by 2019. At present, Seda hotels are located in areas such as Taguig City, Cagayan de Oro City, Davao City, Laguna and Iloilo City. Future locations for expansion include Quezon City, El-Nido, Bacolod, Makati City and Cebu, among others. Furthermore, owing to the success of its flagship property – Seda BGC, the hotel will undergo expansion to add a new tower that will offer 342 rooms, including 48 serviced apartments. The new tower is slated for completion by 2018 and is estimated to cost around P2 billion. 

IntelliStay Hotels Launches New Brand – i-Stay Hotels in Chhattisgarh, India

IntelliStay Hotels Pvt. Ltd. has launched its third brand, i-Stay Hotels, with its first hotel in Raipur, Chhattisgarh. The i-Stay Hotel – Raipur Junction is situated adjacent to the railway station and features 33 rooms, a vegetarian restaurant, shared office space, a banquet hall, a fitness center, and a grab-and-go counter. The rooms at the property are based on a dormitory concept, offering shared facilities that can accommodate two to eight people. Raipur is the capital city of Chhattisgarh and is also a major tourist and business destination within the state. 

Record Highs for Singapore Tourism Industry in 2016

According to Singapore Tourism Board’s (STB) Year-in-Review 2016, the Singapore tourism sector saw visitor arrivals and tourism receipts hit record highs, outperforming STB’s preliminary forecasts. Visitor arrivals jumped 7.7 percent to 16.4 million, while tourism receipts grew by 13.9 percent and is expected to reach S$24.8 billion (US$17.4 billion). The growth is primarily attributed to the rise in Chinese (up 36 percent), Indonesian (up 6 percent) and Indian (up 8 percent) visitor arrivals, as well as the increase in business (up 15 percent) and cruise tourism (up 16 percent). Despite the anticipated challenges of global economic and political instabilities, and rising regional competition for tourism dollars in 2017, STB has forecasted tourism receipts to be in the range of S$25.1-S$25.8 billion (1 to 4 percent growth) and international visitor arrivals to be in the range of 16.4-16.7 million (2 percent growth) this year. 

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

The 13^th edition of CHIC is scheduled take place on 17 and 18 May, 2017, at the Fairmont Peace Hotel, Shanghai. The event will feature a series of master class sessions on topics related to existing and proposed hotels. Confirmed notable speakers include Prof. Dai Bin, President, China Tourism Academy; Andrew Jessop, VP Development Worldwide, Langham Hotels International; Clay Markham, VP, CallisonRTKL; Daniel Voellm, Managing Partner - APAC, HVS; David Su, Co-Founder, Glory Fund Management Group & Managing Partner, Global Capital Investments Group (GCIG); David Greenbaum, VP, SmithGroupJJR; Gavin Yu, VP Hotel Development - China, Marriott International; Ingo Schweder, CEO, GOCO Hospitality; Leo Yen, Sr. VP Real Estate & Development, Hyatt Hotels Corporation; Manav Thadani, Chairman - APAC, HVS; Oliver Tittmann, Director, XCUBE High End Modular Prefabricated Container Building Manufacturer, and Wayne Li, Executive Director & VP Development - Greater China, 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 17 February 2017