HVS Asia Pacific Hospitality Newsletter - Week Ending 3 March 2017 (March 3, 2017)

Singapore and Japan Collaborate to Attract Japanese Tourists to Singapore

The Singapore Tourism Board (STB) and JTB Corp (JTB) – Japan’s largest travel agency, have signed a Memorandum of Understanding (MoU) to promote Singapore as a key destination for Japanese travelers. This is a significant milestone for both parties as it is the first MoU between the two organizations. The collaboration includes product development marketing, sales and public relations. STB and JTB will jointly develop and promote new travel packages customized to different consumer segments in the Japanese market, including first-time travelers. For instance, JTB customers have the opportunity to enjoy an exclusive, customized open-top bus tour of Singapore. STB and JTB hope to attract 90,000 Japanese visitors through this year-long campaign, staring from April 2017 till March 2018. 

Ascott Launches Its First Luxury Serviced Residences in Japan

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott) is set to open its first luxury serviced residence property in Japan – the Ascott Marunouchi Tokyo. Slated to open in March 2017, the hotel will be located in the prime Marunouchi-Otemachi area, the country's biggest and most prestigious international financial center. The hotel will be part of an integrated development that also comprises offices, and is surrounded by must-go places, from the tranquil Imperial Palace East Gardens to the popular Ginza district, which offers the finest retail, entertainment and dining options. The Ascott Marunouchi Tokyo is also conveniently connected to Otemachi Station, one of Tokyo’s largest subway stations served by five different lines. The property features 130 serviced apartments, ranging from studios to three-bedroom units, a business center, meeting rooms, swimming pool, fitness center, roof-top terrace, and a reading lounge.

IHG to Develop Crowne Plaza Hotel in Kuala Lumpur, Malaysia

InterContinental Hotels Group (IHG) recently signed a management agreement with Malaysia’s Yuk Tung Properties Sdn. Bhd. to develop a Crowne Plaza hotel in downtown Kuala Lumpur. The 338-key Crowne Plaza Kuala Lumpur City Centre will be located along Jalan Yap Kwan Seng, g, a vibrant street lined with embassies, trendy restaurants and bars, and within walking distance from the renowned Petronas Twin Towers, which forms part of the Kuala Lumpur City Centre. Scheduled to open by 2021, the hotel will offer business travelers accommodation close to major commercial areas in the city’s central business district. The hotel will feature seven versatile meeting spaces along with a fully-equipped business center; a wide range of food and beverage options, including an all-day dining restaurant, specialty restaurants and a Sky Bar; an outdoor swimming pool, and a fitness center. 

Jetwing Colombo Seven Opens in Sri Lanka

Jetwing Hotels opened the Jetwing Colombo Seven in Colombo, Sri Lanka. The Jetwing Colombo Seven marks the chain’s foray into the capital city. The hotel features 70 rooms and 28 serviced apartments, a restaurant, a bar, a swimming pool, a fitness center, a spa, and a conference hall that can accommodate up to 200 people. With the opening of Jetwing Colombo Seven, Jetwing Hotels now has 30 properties across the country. 

Hotel Openings in India This Week

Taj Hotels Resorts Palaces and Safaris announced the opening of the Taj Swarna in Amritsar, Punjab. The hotel, situated 11.6 kilometers southeast of Amritsar’s Sri Guru Ram Das Jee International Airport, features 157 rooms and suites, a swimming pool, a fitness center and a spa. Food and Beverage offerings at the Taj Swarna include an all-day dining restaurant, a specialty restaurant, a bar, a 6,180-square-foot ballroom and a boardroom. Amritsar, often referred to as the Holy City of the Sikhs, is home to the Golden Temple and is an important religious destination in the Indian state of Punjab.

Carlson Rezidor Hotel Group opened the Radisson Blu Jammu in Jammu, the winter capital of Jammu & Kashmir. Located along the Jammu-Srinagar Bypass, approximately 6.5 kilometers northeast of Jammu Airport, the hotel features 119 rooms and suites, an all-day dining restaurant, a specialty restaurant, a lounge, a bar and 40,000 square feet of meeting space, including a 15,000-square-foot pillar less ballroom. Other facilities at the hotel include a fitness center, a swimming pool and a spa. 

Power Packed Global CEO Panel at HICSA | Mumbai, India

Hotel Investment Conference - South Asia (HICSA) gains momentum for its 13th edition, once again bringing to fore the most relevant subject matter, key issues and latest industry trends that shape and transform the future of hospitality businesses in South Asia and around the world. HVS is proud to host yet another edition of this truly iconic industry event, on 5th and 6th April at Grand Hyatt Mumbai. One of the highlights of HICSA 2017 is the Global CEO Panel, which will bring together the frontrunners of four of the most respected global hotel companies, namely Christopher J Nassetta, President & CEO, Hilton; Mark Hoplamazian, President & CEO, Hyatt; Rakesh Sarna, MD & CEO, Taj Group, and Vikram Oberoi, MD & CEO, The Oberoi Group. The conference will also feature a series of powerful Keynote Addresses by eminent industry specialists, including Amitabh Kant, CEO, NITI Aayog; David Scowsill, President & CEO, WTTC; and Michael Issenberg, Chairman & CEO - APAC, AccorHotels. 

Absolute Share Price Performance, as on 3 March 2017

Closing Share Price as at 3 Mar 2017 24 Feb 2017 % Change
Australia Stock Exchange (ASX)
Event Hospitality and Entertainment Ltd 12.15 12.33 -1.5%
General Property Group 4.92 4.9 0.4%
Mirvac Group 2.14 2.16 -0.9%
Mantra Group 2.78 2.75 1.1%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 35.5 36 -1.4%
Dusit Thani Public Co Ltd 10.2 9.9 3.0%
The Erawan Group Public Co Ltd 4.62 4.42 4.5%
Grande Asset Hotels and Property Public Co Ltd 0.93 0.91 2.2%
Laguna Resorts & Hotel Public Co Ltd 27.75 27.25 1.8%
Minor International Public Co Ltd 34.75 33.5 3.7%
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd 15.6 16.35 -4.6%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co Ltd 7.44 7.65 -2.7%
Guangzhou Dong Fang Hotel Co Ltd 15.3 14.92 2.5%
China Lodging Group Ltd 60.23 56.24 7.1%
Home Inns & Hotels Management Inc 35.71 35.71 0.0%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 15.9 15.98 -0.5%
Regal Hotels International Holdings Ltd 4.24 4.26 -0.5%
Sino Hotels Holdings Ltd 2.78 2.8 -0.7%
The Hong Kong & Shanghai Hotels Ltd 8.78 8.89 -1.2%
Shangri-La Asia Limited 9.94 10.04 -1.0%
National Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 125.8 121 4.0%
EIH (Oberoi Hotels & Resorts) 106.85 102.05 4.7%
Hotel Leela Ventures 16.8 16.6 1.2%
Korea Exchange (KRW)
The Shilla 46000 52000 -11.5%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.485 0.48 1.0%
Ascendas Hospitality Trust 0.755 0.76 -0.7%
Ascott Residence Trust 1.175 1.17 0.4%
Banyan Tree Holdings Limited 0.49 0.505 -3.0%
CDL Hospitality Trusts 1.41 1.395 1.1%
Far East Hospitality Trust 0.59 0.6 -1.7%
Frasers Hospitality Trust 0.69 0.695 -0.7%
Hotel Grand Central Ltd 1.42 1.41 0.7%
Hotel Properties Ltd 3.85 3.78 1.9%
Mandarin Oriental International Ltd (US$) 1.275 1.29 -1.2%
OUE Hospitality Trust 0.7 0.69 1.4%
Stamford Land Corporation Ltd 0.52 0.515 1.0%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 172.5 174 -0.9%
The Ambassador Hotel, Ltd 23.85 23.75 0.4%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 79400 77600 2.3%
Imperial Hotel, Ltd 2110 2129 -0.9%
Red Planet Japan Inc 32 33 -3.0%

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