| Featured in this Asia Pacific Hospitality Newsletter - Week Ending 23 November 2007 |
| Ascott Expands In Malaysia With Its Sixth Property | Return to Headlines |
| The Ascott Group (Ascott) has entered into a conditional agreement to purchase a 208-key serviced residence from HSC Properties (HSCP) for approximately US$33.3 million. The property, Ascott's sixth in Malaysia, will be named Somerset Ampang and is located within Kuala Lumpur's Golden Triangle within walking distance from Light Rail Transit (LRT) Ampang Park Station. The property will form part of an integrated development which will including the Malaysia's renowned HSC Medical Centre. Scheduled to be completed in early 2010, the serviced residence is envisaged to attract medical tourists and business travellers. Somerset Ampang is expected to feature comprehensive facilities including a swimming pool, a gymnasium and a children's playground. | |
| Trump Organisation Looking To Move Into India | Return to Headlines |
| Trump Organisation, America's largest high-end condominium developer, is seeking joint venture investments in India by mid-2009. According to Donald Trump Jr, the organisation's Executive Vice President (Development and Acquisition), the company is exploring investments in major Indian cities like Mumbai, Delhi, Hyderabad and Bangalore where the information technology (IT) industry has grown tremendously. The company is likely to develop high-end luxury residential key cities in India. In the longer term, Trump Organisation has indicated interest in investing in secondary Indian cities as well. | |
| Planet Hollywood Ventures Into India | Return to Headlines |
| London's entrepreneur, Robert Earl, who invented the Planet Hollywood (PH) chain, has announced plans to open five PH hotels in India totalling an investment amount of US$15 million. Planet Hollywood International has entered into a franchise agreement with United States' Arch Millennium Corporation, which is promoted by Indian-origin businessmen that run several other hotel and restaurant chains, to develop the five properties in India. The first PH hotel is expected to open in Mumbai and the other four to be in New Delhi, Bangalore, Goa and Hyderabad. The concept of the PH hotels in India is likely to be unique, like the other PH hotels. According to Robert Earl, there is huge potential in the Indian market and it is hoped that the PH brand will be able to ride on its wave. This deal comes on the back of Walmart, America's US$288 billion business, making a foray into India's untapped retail market. | |
| Shimao Group To Open 17 New Hotels In China | Return to Headlines |
| China's Shimao Group has announced its plans to expand its five-star hotel portfolio in China from three to 20 hotels, with the intention of getting the Group's hotel business to list on the Hong Kong Stock Exchange by 2010. The Group's third five-star hotel is the newly opened US$271 million Hyatt on the Bund hotel in Shanghai, which offers 631 rooms with views of the Huangpu River. The Group is expected to invest approximately US$667 million to expand its hotel portfolio in cities such as Beijing, Nanjing, Wuhan and Fuzhou. With a land bank of more than 20 million square metres in China, the Group also plans to restructure its subsidiary, Shimao Property Holding Limited, into a residential properties and hotels operator. | |
| Koh Samui Competes For More Foreign Investors | Return to Headlines |
| In recent years, the Koh Samui island, located south of Bangkok in the Gulf of Thailand, has witnessed an increase in high-end hotel and resort developments which had raised awareness and increased demand for high-end residential developments. The development of the island has led to significant upgrades of its international airport, and the Thailand central government is expected to further increase the infrastructure budget of Koh Samui as it attains city status with a minimum of 50,000 residents. This is expected to attract more foreign investors to Koh Samui and compete with more established resort destinations in Thailand such as Phuket. Koh Samui appeals to foreign investors due to its attractiveness as it is a less mature market which signals greater potential for real estate price appreciation. In addition, the strict building and zoning regulations of Koh Samui protect the beauty of the island and preserves its coastline. | |
| The Philippines' SM Investment Corporation To Build 14 Casa SM Hotels | Return to Headlines |
|
SM Investment Corporation's Hotel Investment Group (HIG) has announced its plans to create a nationwide hotel chain, Casa SM, to tap on the growing Philippines' tourism market, particularly the tourists and overseas Filipino workers visiting the country. It is expected that the Casa SM hotels will be developed in 14 sites near the existing SM malls and two beta sites are expected to open by the end of 2009. Each hotel is likely to offer a minimum of 50 rooms with an average size of 24 square metres, at an average room rate of approximately US$47. The group has also indicated the possibility of partnering with an international hotel operator to manage the hotels, depending on the number of rooms required by the site. Currently, the HIG is engaged in the expansion of the Taal Vista Hotel from 128 rooms to 262 rooms, and the repositioning of the 400-room Cebu Hotel into a five-star Sofitel Hotel. In addition, there are plans to develop a 400-room Radisson Hotel in the Mall of Asia Complex in Manila Bay. |
|
| Absolute Share Price Performance, as at 23 November 2007 |
