HVS Asia Pacific Hospitality Newsletter - Week Ending 14 April 2017 (April 14, 2017)

Centara to Open Five-Star Resort in Maldives’ UNESCO Reserve

Centara Hotels & Resorts has signed a new management agreement with Muthaafushi Orient Investments Ltd. and Well Land Investment Pvt Ltd. for its fourth beach resort in the Maldives. Under the agreement, Centara will manage and operate this new five-star resort, which will be located in the Southwestern part of Baa Atoll – a UNESCO World Biosphere Reserve comprising 75 islands and home to some of the richest biodiversity in the region. Slated to open in 2019, the Centara Grand Muthaafushi Resort & Spa Maldives will feature 24 land villas and 77 water villas; multiple food and beverage outlets, including an underwater restaurant; a floating cinema; a Thai spa, and a fitness center.

Ascott to Debut in Jeju Island, South Korea

The Ascott Limited is set to open the Somerset Jeju Shinhwa World, its first property in South Korea’s Jeju Island, on 25 April 2017. The 344-unit serviced residences marks Ascott’s fourth property in the country and reinforces the group’s position as the largest international serviced residence owner-operator in South Korea. A 40-minute drive from the Jeju International Airport, Somerset Jeju Shinhwa World is part of an integrated resort development, which includes a theme park, a water park, gaming facilities, high-end retail outlets, MICE facilities and a K-Pop entertainment town. Individual serviced apartments at the Somerset Jeju Shinhwa World will comprise spacious three-bedroom units, a kitchen, separate living and dining areas, and a centralized home automation system. Other facilities at the property include a clubhouse, a lobby lounge, a restaurant, a gymnasium and sauna, a children's playroom and a large outdoor play area for kids.

First Outdoor Legoland Opens in Nagoya, Japan

Earlier this month, Japan’s first outdoor Legoland opened in Nagoya – the country’s third-largest business region. With over 40 Lego-inspired attractions spread across a 9.3-hectare site, Legoland Japan joins the list of existing outdoor theme parks in Japan that include Universal Studios Japan and Tokyo Disneyland. While there are already two indoor Legolands within shopping malls in Tokyo and Osaka, the Nagoya park is the first full-scale outdoor theme park of its kind in the country, following in the footsteps of seven similar parks abroad. Legoland Japan, which is targeting 2 million visitors in its first fiscal year, is expected to attract a lot of foreign tourists as well, being only the second Legoland in Asia after the one in Malaysia. Looking ahead, the company plans to expand the size of the park by 40 per cent, with a Legoland Hotel and Japan’s first sea life aquarium also scheduled to open nearby, in 2018.

Hyatt Place Opens in Rameswaram, Tamil Nadu

Hyatt Hotels announced the opening of the Hyatt Place Rameswaram in Tamil Nadu, India. The hotel features 101 rooms, a vegetarian restaurant, approximately 280 square meters of indoor meeting space, a swimming pool and a fitness center. Developed by JKR Enterprise Ltd., Hyatt Place Rameswaram is the fifth Hyatt Place hotel in the country. Rameswaram is considered to be one of the holiest places in India, and is situated in the Gulf of Mannar at the tip of the Indian peninsula.

IHG Opens Fifth Property in Chennai, India

InterContinental Hotels Group opened the Holiday Inn Chennai OMR IT Expressway, last week. Located along Chennai’s Old Mahabalipuram Road (OMR), the 202-room hotel is the fifth IHG hotel in the city, and features a restaurant, a bar and a lounge, approximately 5,000 square feet of meeting space, a swimming pool, and a fitness center. OMR is popularly referred to as the IT corridor of Chennai – the capital of the south Indian state of Tamil Nadu.

Singapore Tourism Board Teams Up with Walt Disney

Singapore Tourism Board (STB) has inked a three-year collaboration with The Walt Disney Company (Southeast Asia) that will bring a wide range of Disney-related events and activities to Singapore. Starting with the Star Wars theme this year, Disney and STB will bring in Marvel-themed events next year and Disney Animation/Disney Pixar-themed events in 2019. The collaboration will commence with a three-day Star Wars Festival, which will be held at Gardens by the Bay from 4 to 6 May. This tie up is the first of its kind between Disney and a national tourism body in Southeast Asia, and is aimed at boosting tourism and attracting more visitors to the Republic. Last year, Singapore witnessed its tourism arrivals and receipts hit a record high of 16.4 million and S$24.8 billion respectively. The target for this year is to grow visitors by up to 2 per cent, and receipts by 1 to 4 per cent.

2017 HICSA and HOSI Conferences Successfully Conclude

Hosted by HVS, the 13th edition of Hotel Investment Conference - South Asia (HICSA) concluded successfully on 6 April. The conference brought together close to 500 delegates from across 18 countries, with overwhelming participation from hotel owners, investors, operators, bankers and industry leaders. The two-day conference is widely viewed by global industry leaders as the premier hospitality event for the South Asian region, valued for its networking opportunities and high-level contacts as much as for its content-rich sessions.

Hotel Operations Summit India (HOSI) the only dedicated forum for hotel professionals in the region, was held back-to-back with HICSA on 4 April and saw a turnout of over 250 participants. With the spotlight on ‘General Managers’ and a special focus on the Food & Beverage segment this year, the 5th edition of the conference featured a series of keynote addresses, interesting group discussions, brainstorming sessions, and industry-focused workshops by subject-matter experts.

HVS thanks all sponsors, partners, speakers and delegates for their continued support, and looks forward to welcoming everyone next year. Please write to Debjani Dhara ([email protected]) or Swarn Jaitly ([email protected]) for more information.

Absolute Share Price Performance, as on 14 Apr 2017

Closing Share Price as at 14 Apr 2017 7 Apr 2017 % Change
Australia Stock Exchange (ASX)
Elanor Investors Group 2.16 2.16 0.0%
Event Hospitality and Entertainment Ltd 12.91 13.2 -2.2%
General Property Group 5.3 5.19 2.1%
Mirvac Group 2.33 2.28 2.2%
Mantra Group 2.9 2.86 1.4%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 35.5 35.75 -0.7%
Dusit Thani Public Co Ltd 9.25 9.35 -1.1%
The Erawan Group Public Co Ltd 4.86 4.7 3.4%
Grande Asset Hotels and Property Public Co Ltd 0.92 0.89 3.4%
Laguna Resorts & Hotel Public Co Ltd 28.5 28.75 -0.9%
Minor International Public Co Ltd 37.25 37.5 -0.7%
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd 14.01 14.33 -2.2%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co Ltd 6.31 6.52 -3.2%
Guangzhou Dong Fang Hotel Co Ltd 17.38 17.05 1.9%
China Lodging Group Ltd 59.31 61.76 -4.0%
Home Inns & Hotels Management Inc 35.71 35.71 0.0%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 16.62 16.48 -0.8%
Regal Hotels International Holdings Ltd 4.98 4.74 5.1%
Sino Hotels Holdings Ltd 2.86 2.86 0.0%
The Hong Kong & Shanghai Hotels Ltd 9.08 8.95 1.5%
Shangri-La Asia Limited 11.48 11.22 2.3%
National Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 128.95 130 -0.8%
EIH (Oberoi Hotels & Resorts) 124.45 118.2 5.3%
Hotel Leela Ventures 17 16.5 3.0%
Korea Exchange (KRW)
The Shilla 48150 47300 1.8%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.565 0.515 9.7%
Ascendas Hospitality Trust 0.775 0.775 -0.0%
Ascott Residence Trust 1.09 1.095 -0.5%
Banyan Tree Holdings Limited 0.51 0.505 1.0%
CDL Hospitality Trusts 1.49 1.465 1.7%
Far East Hospitality Trust 0.61 0.6 1.7%
Frasers Hospitality Trust 0.72 0.72 0.0%
Hotel Grand Central Ltd 1.42 1.41 0.7%
Hotel Properties Ltd 4 3.98 0.5%
Mandarin Oriental International Ltd (US$) 1.3 1.345 -3.3%
OUE Hospitality Trust 0.705 0.705 0.0%
Stamford Land Corporation Ltd 0.535 0.54 -0.9%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 155 157 -1.3%
The Ambassador Hotel, Ltd 23 23.45 -1.9%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 72200 75000 -3.7%
Imperial Hotel, Ltd 2099 2083 0.8%
Red Planet Japan Inc 26 29 -10.3%

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