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November 11, 2011 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
Hong Kong MICE Arrivals Pass One Million Milestone
IHCL To Enter China Through Management Route
Starwood Launches Villa Collection In Asia
Sri Lanka Slashes Visa Fee
Sofitel Announces New Landmark Property In Foshan
Absolute Share Price Performance, As At 11 November 2011
Hong Kong MICE Arrivals Pass One Million Milestone Return to Headlines

The Hong Kong Tourism Board (HKTB) has announced that overnight MICE (meetings, incentives, conventions and exhibitions) visitor arrivals to Hong Kong for the first nine months of 2011 have exceeded the one million mark for the first time ever. The 1,028,989 figure was up 15% over the same period last year. Mainland China was the largest MICE visitor source market, recording a 19.9% increase to over 440,000. Among all visitor source markets, greater growth was recorded in the short-haul regions, where steady economic development and appreciation of major currencies against the Hong Kong dollar encouraged MICE organisers, especially those of meetings and incentive travel, to select Hong Kong as their activity destination.

IHCL To Enter China Through Management Route Return to Headlines

Indian Hotels Company Ltd (IHCL) plans to open its first luxury hotel in China with the launch of the 110-room Taj Palace Temple of Heaven in Beijing by the end of 2012. IHCL has signed a contract with Cuiting Hotspring Hotel Management Company, an arm of Zhong Qi International Investment Company, to manage the property and run it under its own luxury brand. The hotel is in close proximity to the UNESCO World Heritage Site of the Temple of Heaven, constructed between 1406 and 1420 and used by the emperors of the Ming and Qing dynasties. The property will be opened with 64 rooms in the first phase and 46 rooms in the second phase.

Starwood Launches Villa Collection In Asia Return to Headlines

Starwood Hotels & Resorts has launched the Asia Pacific Villa Collection, bringing together one of the region's largest collections of luxury villas in one place for guests and travel professionals to explore. The Starwood Asia Pacific Villas are a collection of 768 villas in 19 of Starwood's resorts across the Asia Pacific region, ranging from Australia to China. The resorts include properties under Starwood's Le Meridien, St. Regis, W, The Luxury Collection, Sheraton and Westin brands. By combining all of its premier Asia Pacific villas into one unique collection, Starwood has made it more convenient to explore, compare and tailor the desired experience to each resort's location, brand and lifestyle offerings.

Sri Lanka Slashes Visa Fee Return to Headlines
Sri Lanka has slashed the visa fee it planned to charge tourists from India and other South Asian Association for Regional Cooperation (SAARC) countries to US$10 from the originally planned US$50. Non-Indian and non-SAARC nation visitors would, however, be charged US$20. India raised concerns in late October over the Sri Lankan immigration's decision to levy a visa processing fee of US$50 under the island nation's new Electronic Travel Authorisation (ETA) system from 1 January 2012. In terms of visitor arrivals, India has now replaced Britain as the country with the most tourist arrivals to the island nation. In September, Indian tourist arrivals to Sri Lanka had risen by 50% year-on-year, contributing to a 27% rise overall. Travellers from the Maldives and Singapore are exempted from ETA and the processing fee.
Sofitel Announces New Landmark Property In Foshan Return to Headlines
Sofitel Luxury Hotels has announced the opening of a prestigious, new 325-room hotel in China's booming city of Foshan in 2014. The 236-metre-high property will become the city's tallest building. The Sofitel Foshan will form part of the second phase of the Foshan Louvre International Furniture Exhibition Centre - the biggest furniture exhibition mall in China. The hotel will feature 325 spacious hotel rooms and suites, four restaurants and three bars, a large pillar-less ballroom, ten meeting rooms of various sizes, the group's signature So SPA, a fitness centre, a yoga room, a beauty salon and an indoor swimming pool. It will also have an executive lounge, which is complemented by a fully equipped business centre, and 280 parking spaces
Absolute Share Price Performance, as at 11 November 2011
Closing Share Price as at 11 November 2011 4 November 2011 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited 5.55 5.63 -1%
General Property Group 3.10 3.10 -
Mirvac Group 1.28 1.24 3%
Ocean Capital Limited 0.17 0.17 -
Thakral Holdings Group 0.53 0.53 -
Living and Leisure Australia Group 0.026 0.026 -
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 10.20 8.40 21%
Dusit Thani Public Co Ltd 35.00 33.75 4%
The Erawan Group Public Co Ltd 2.22 2.24 -1%
Grande Asset Hotels and Property Public Co Ltd 1.45 1.04 39%
Laguna Resorts & Hotel Public Co Ltd 46.75 47.50 -2%
Minor International Public Co Ltd 10.70 10.50 2%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 19.58 19.55 -
Beijing Capital Tourism Co Ltd 16.59 15.81 5%
Jinling Hotel Corporation Ltd 8.10 8.37 -3%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 5.25 5.19 1%
Guangzhou Dong Fang Hotel Co Ltd 9.26 9.90 -6%
Shenzhen Century Plaza Hotel Co Ltd 5.58 5.79 -4%
Home Inns & Hotels Management Inc 35.29 34.16 3%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.20 8.23 -
Regal Hotels International Holdings Ltd 2.59 2.51 3%
Sino Hotels Holdings Ltd 2.28 2.29 -
The Hong Kong & Shanghai Hotels Ltd 10.20 10.54 -3%
Shangri-La Asia Limited 14.68 15.62 -6%
kosmopolito Hotel International 1.22 1.16 5%
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 68.7 71.6 -4%
EIH (Oberoi Hotels & Resorts) 88.3 91.9 -4%
Hotel Leela Ventures 38.7 40.0 -3%
Korea Exchange (KRW)
The Shilla 37,800 39,600 -5%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.31 0.31 -
Ascott Residence Trust 1.02 1.04 -2%
Banyan Tree Holdings Limited 0.79 0.78 1%
CDL HTrust 1.58 1.63 -3%
Hotel Grand Central Ltd 0.70 0.71 -1%
Hotel Properties Ltd 2.03 2.06 -1%
Mandarin Oriental International Ltd (US$) 1.54 1.60 -4%
Pan Pacific Hotels Group Limited 1.84 1.90 -3%
Shangri-La Asia Limited (HK$) 14.50 14.00 4%
Stamford Land Corporation Ltd 0.56 0.56 -
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 448 450 -
The Ambassador Hotel, Ltd 36.10 36.90 -2%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation 192,100 196,000 -2%
Japan Hotel and Resort Inc 159,100 167,000 -5%
Imperial Hotel, Ltd 1,720 1,850 -7%
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Michelle Hui
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Mark Keith & Daniel Voellm
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Manav Thadani
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Manav Thadani
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Adeline Phua
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