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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 15 August 2008
Recruitment For HVS Beijing
HCE India 2008 Salary Surveys
Indian Hotels To Cater To Woman Travellers’ Needs
Pan Pacific Serviced Suites Bangkok To Open In 2009
Langham Expands In China And The Region
Sokimex Develops Five-Star Hotel In Phnom Penh
Absolute Share Price Performance, As At 15 August 2008
Recruitment For HVS Beijing Return to Headlines
As part of its growth strategy for China, HVS is seeking suitable candidates with relevant experience in valuation, consultancy and investment advisory to join its professional practice in Beijing.
According to David Ling, Managing Director responsible for the East Asia markets, ‘Growth in the China tourism and hotel industries has been phenomenal in recent years and the long-term outlook is most promising. In 2007, international arrivals grew to 132 million visitors, while domestic tourism reached a record high of 1.6 billion, and the market is expected to continue to expand in 2008 and beyond. HVS has established a significant presence in Greater China through its current offices in Shanghai and Hong Kong, and we would like to further enhance our operations in Beijing’.
Excellent career development opportunities will be given to the selected candidates. If you would like to be considered, please submit your resume to dling@hvs.com. For more information on HVS, please visit www.hvs.com.
HCE India 2008 Salary Surveys Return to Headlines
HVS Executive Search, New Delhi is pleased to present a study of the salaries at hotels across India. The reports include data from 150 hotels covering 100 positions.
For further information and to purchase a copy, please contact Siddharth Choudhry at schoudhry@hvs.com.
Indian Hotels To Cater To Woman Travellers’ Needs Return to Headlines
In view of the increasing women business travellers in recent years, hotels in India are moving towards international trends to sensitise services to cater to the women travellers’ specific needs. Some of these specialised services include exclusive wings and separate floors for female guests, food menu offering special health-oriented delicacies with low calorie options and ladies-only lounge. For instance, India’s ITC hotel chain has Eva Floors which are dedicated to women guests with standardised facilities and the Taj Mahal Hotel in New Delhi has a separate ladies’ wing served by female butlers or chauffeurs who assist guests while shopping or travelling in the city.
Pan Pacific Serviced Suites Bangkok To Open In 2009 Return to Headlines
Pan Pacific Hotels and Resorts has announced the opening of Pan Pacific Serviced Suites Bangkok in 2009. Owned by the approximately US$1.8 billion Asian Real Estate Income Fund, a Pacific Star fund, the eight-storey Pan Pacific Serviced Suites Bangkok is located within Eight Thonglor, a 72,693-square-metre mixed-use development which comprises a 34-storey apartment tower, Eight Thonglor Residences, and a shopping centre. The hotel features 148 suites, including 27 Executive Suites, 74 One-Bedroom Suites and 47 Two-Bedroom Suites, a fitness centre, a swimming pool and the Pacific Lounge among other facilities.
Langham Expands In China And The Region Return to Headlines
Langham Hotels International (Langham), the five-star hospitality subsidiary of developer Great Eagles Holdings, is expecting to have eight hotels under development in China over the next six months. These developments form part of the regional plan to add at least 20 hotels across India, Thailand and the Middle East, on top of China, within five years at a total investment amounting to US$1 billion. Langham has also announced that it will replicate its business model of combining hotels with commercial or residential components in these developments. Analysts are predicting a separate public listing of Langham as a result of its expansion plans in the pipeline; however, this was not confirmed by Langham.
Sokimex Develops Five-Star Hotel In Phnom Penh Return to Headlines
Cambodia’s Sokimex Group has started construction of a five-star hotel in Phnom Penh, Cambodia. The 799-key hotel, which is expected to cost approximately US$100 million, is likely to feature two conference halls and ten ballrooms. It is expected to commence operations in late 2010 and will be the third five-star hotel in Phnom Penh. The number of international arrivals to Cambodia during the first six months of 2008 increased by 13% to 1.1 million arrivals, as compared the same period in 2007. Cambodia is targeting 2.5 million international arrivals for 2008.
Absolute Share Price Performance, as at 15 August 2008
Closing Share Price as at August 15 2008 August 8 2008 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.40 4.25 4%
General Property Group 1.72 1.71 1%
Mirvac Group 2.76 2.81 -2%
Ocean Capital Limited 0.40 0.40
Thakral Holdings Group 0.78 0.80 -3%
Living and Leisure Australia Group 0.05 0.05 -13%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 4.90 4.98 -2%
Dusit Thani Public Co Ltd 37.75 36.25 4%
The Erawan Group Public Limited 3.40 3.40
Grande Asset Development 3.02 3.02
Laguna Resorts & Hotel Public Co Ltd 41.00 41.00
Minor International PCL 14.20 13.30 7%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 10.26 10.08 2%
Regal Hotels International Holdings Ltd 0.34 0.35 -4%
Sino Hotels Holdings Ltd 3.60 3.59
The Hong Kong & Shanghai Hotels Ltd 11.00 11.34 -3%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.39 0.46 -15%
ART Management Pte Ltd 1.01 1.03 -2%
Banyan Tree Holdings Limited 1.18 1.21 -2%
CDL HTrust 1.16 1.37 -15%
Hotel Grand Central Ltd 0.83 0.86 -3%
Hotel Plaza Ltd 1.51 1.55 -3%
Hotel Properties Ltd 2.09 2.05 2%
Mandarin Oriental International Ltd (US$) 1.62 1.71 -5%
Shangri-La Asia Ltd 17.00 16.10 6%
Stamford Land 0.50 0.51 -2%
Return to Headlines
HVS Beijing
David Ling
HVS Hong Kong
Mark Keith & David Ling
HVS Mumbai
Manav Thadani
HVS New Delhi
Manav Thadani
HVS Shanghai
David Ling
HVS Singapore
David Ling
Disclaimer: Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information, please feel free to contact HVS Singapore.
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