Sheraton on the Park, in Sydney, was recently sold to a Chinese insurance company, Sunshine Insurer Group Ltd, for US$463 million, or just over US$830,000 per key. The 557-room hotel will continue to operate under the management of Sheraton Hotels and Resorts. This follows the recent rumours of the Hilton Sydney currently being on the market - another landmark hotel in Sydney’s skyline. Australia’s hospitality industry has been reported to have experienced the largest expansion in over 20 years. This transaction comes days after the announcement of China and Australia free trade agreement on 17 November. This agreement would not only provide a boost to various industries within the economy, but also see Australia grant visas for Chinese workers and holiday makers. As of 2013, China contributed 12% of visitors to Australia.
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Starwood has revealed its plans to develop an Aloft property in Kathmandu by mid-2017. The 175-room mixed-use property owned by Chhaya Devi Complex Private Limited will feature 6,650m² of retail space. Aloft will be Starwood’s first property expected to open in Kathmandu with the other being a 225-room Sheraton due to open early 2018. In 2013, 51% of tourists visited Kathmandu for holiday, 12.8% for trekking & mountaineering, 9% for pilgrimage and only 3.5% for business. India (23.2%) and China (12.4%) are the main source markets for the destination. Other branded hotels within Kathmandu include Crowne Plaza, Radisson, Hyatt Regency and Shangri-la.
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Despite the positive outlook earlier in the year, the Japanese economy has fallen into recession. Deflation, falling wages and rising sales taxes (+3% points as of April 2014) discouraged consumer expenditure bringing Japan into a recession. On an annualized basis, the world’s third largest economy saw a 1.6% decline in GDP as of September 2014 following a 7.3% decline the previous quarter. Japanese outbound travel has already seen a decline since 2012, due to the depreciation of the Yen, making travel abroad particularly costly for Japanese travellers. Regional destinations such as, Macau (-26.6%), Korea (-21.9%), China (-18.2%) and Hong Kong (-15.7%) were affected the most by the decrease in Japanese outbound visitors in 2013. Questions remain as to what impact this recession would have on travel in 2015, though for the domestic travel market in Japan, a decrease in outbound travel and increase in international travel due to currency exchange has so far been positive.
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Wyndham Worldwide has announced plans to introduce its timeshare business into Southeast Asia possibly in 2015. Wyndham sees opportunities within Asia with keen interest in Indonesia, Thailand and Malaysia. Its Southeast Asian headquarter is planned to open in Singapore by the end of this year. Wyndham Vacation Ownership currently has 185 timeshare properties globally,with 26 in Australia, New Zealand and Fiji. Wyndham Vacation Ownership currently has 5 brands- Club Wyndham, WorldMark by Wyndham, Wyndham Vacation Resorts Asia Pacific, Shell Vacations Club and Margaritaville Vacation Club.
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Closing Share Price as at | 21 Nov 2014 | 14 Nov 2014 | % Change | Australia Stock Exchange (ASX) | Amalgamated Holdings Limited | 11.08 | 10.57 | 5% | General Property Group | 4.08 | 4.20 | -3% | Mirvac Group | 1.73 | 1.77 | -2% | Mantra Group | 2.75 | 2.65 | 4% | Bangkok Stock Exchange (THB) | Central Plaza Hotel Public Co Ltd | 35.75 | 34.00 | 5% | Dusit Thani Public Co Ltd | 60.00 | 62.00 | -3% | The Erawan Group Public Co Ltd | 4.78 | 4.62 | 3% | Grande Asset Hotels and Property Public Co Ltd | 2.26 | 2.20 | 3% | Laguna Resorts & Hotel Public Co Ltd | 30.75 | 31.75 | -3% | Minor International Public Co Ltd | 33.75 | 33.50 | 1% | China Shanghai Stock Exchange (RMB) | Jinling Hotel Corporation Ltd | 12.33 | 12.08 | 2% | China Shenzhen Stock Exchange (RMB) | Huatian Hotel Group Co Ltd | 6.01 | 5.80 | 4% | Guangzhou Dong Fang Hotel Co Ltd | 11.58 | 10.47 | 11% |
NASDAQ (US$) | Huazhu Hotels Group Ltd | 24.41 | 25.41 | -4% | Home Inns & Hotels Management Inc | 29.86 | 30.58 | -2% | Hong Kong Stock Exchange (HK$) | Miramar Hotel & Investment Co Ltd | 9.63 | 9.80 | -2% | Regal Hotels International Holdings Ltd | 4.74 | 4.75 | - | Sino Hotels Holdings Ltd | 2.45 | 2.46 | - | The Hong Kong & Shanghai Hotels Ltd | 11.80 | 12.12 | -3% | Shangri-La Asia Limited | 10.86 | 10.76 | 1% | Dorsett Hospitality International | 1.47 | 1.47 | - | National Stock Exchange (INR) | IHCL (Taj Hotels, Resorts & Palaces) | 108.50 | 106.15 | 2% | EIH (Oberoi Hotels & Resorts) | 109.00 | 103.85 | 5% | Hotel Leela Ventures | 23.80 | 24.35 | -2% | Korea Exchange (KRW) | The Shilla | 98,400 | 92,900 | 6% | Singapore Stock Exchange (S$) | Amara Holdings Ltd | 0.51 | 0.51 | - | Ascendas Hospitality Trust | 0.70 | 0.70 | - | Ascott Residence Trust | 1.26 | 1.26 | - | Banyan Tree Holdings Limited | 0.61 | 0.61 | - | CDL Hospitality Trusts | 1.70 | 1.72 | -1% | Far East Hospitality Trust | 0.89 | 0.81 | 10% | Hotel Grand Central Ltd | 1.28 | 1.29 | -1% | Hotel Properties Ltd | 4.11 | 4.09 | - | Mandarin Oriental International Ltd (US$) | 1.75 | 1.75 | - | OUE Hospitality Trust | 0.89 | 0.87 | 2% | Stamford Land Corporation Ltd | 0.55 | 0.55 | - | Taiwan Stock Exchange (NT$) | Formosa International Hotels Corporation | 334.00 | 319.00 | 5% | The Ambassador Hotel, Ltd | 27.30 | 27.60 | -1% | Tokyo Stock Exchange (JPY) | Japan Hotel REIT Investment Corp. | 72,900 | 71,700 | 2% | Imperial Hotel, Ltd | 2,262 | 2,310 | -2% |
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