| Sign
up to automatically receive HVS mailings |
| |
 |
Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 22
August 2008 |
 |
|
 |
|
|
| |
|
|
|
| Five-star
hotels in central Tokyo witnessed higher occupancy growth during
Japan’s Bon holidays from 13 August to 16 August 2008.
Unlike the usual Bon holidays which tend to be a quieter period
for central Tokyo hotels, in 2008, more families chose to spend
their Bon holidays in Tokyo amidst surging fuel prices. During
this period, there was strong demand for higher priced hotel
rooms costing around US$454 or more per night, with hotels such
as Hotel Okura Tokyo in Minato Ward and Royal Park Hotel posting
higher occupancy rates at 60% and above. Conversely, the number
of outbound Japanese tourists is expected to decline approximately
7% year on year. |
|
| |
|
|
|
| Thailand’s
Shinawatra family has announced plans to develop a luxury residential
project comprising a hotel, condominium and villas at a sale
price of approximately US$2 million to US$3 million per unit
on a 256,000-square-metre land plot located on Mai Khao Beach
in Phuket, Thailand by 2009. According to industry sources,
this proposed development is not undertaken by the family’s
property arm, SET-listed SC Asset Corporation Plc, and is estimated
at an investment cost of at least US$296 million, excluding
land cost. Other new developments on Mai Khao include Minor
International Plc’s Anantara Phuket Resort and Spa which
is expected to be launched by October 2008 and plans to develop
a Villa Market to house supermarket and high-end restaurants
by the end of 2008. A Dubai-based group has also acquired a
288,000-square-metre land parcel on Mai Khao for US$60 million
and intends to further invest US$250 million to develop a Venice-style
hotel. Additionally, a joint venture between local and foreign
investors has plans to develop a five-star hotel and luxury
villas on a 160,000-square-metre land plot. |
|
| |
 |
India’s Taj Hotels Resorts And Palaces Plans Luxury Resort
In Andaman and Nicobar Islands |
Return
to Headlines |
 |
|
|
| India’s
Taj Hotels Resorts and Palaces has successfully bid for a 161,900-square-metre
land plot, 38 kilometres away from Port Blair, the capital of
Andaman and Nicobar Islands, a union territory of India, at
an annual ground lease of US$574,000 for a period of 30 years
and beyond. The offer was put up by the Andaman and Nicobar
Islands Integrated Development Corporation with plans to build
a luxury resort with around 100 rooms having either a beachfront
or an elevated ocean view. According to industry estimates,
the territory attracted 150,000 tourists in 2007 compared to
100,000 tourists in 2004, with the peak months from October
to March. |
|
| |
|
|
|
| Sichuan
Province, in southwestern China, has announced it is likely
to invest approximately US$11.6 billion on a reconstruction
plan featuring 300 projects affected during the major earthquake
in May 2008. The funds, out of which 30% are provided by the
central government, will be used to reconstruct scenic spots,
roads, hotels and restaurants. Tourism officials have also revealed
the plans for an ‘experimental tourist zone’, which
is likely to consist of a tourist route along a fault line that
runs through Wenchuan County, showcasing the earthquake ruins,
a memorial in Yingxiu, a museum in Beichuan and a lake created
during the earthquake in Tangjiashan. |
|
| |
|
|
|
| Wyndham
Hotel Group (Wyndham) has announced that it has gone into a
non-exclusive agreement with Green Hospitality Management Co
Ltd of Tokyo to open nine hotels in Japan. The hotels, which
will be developed and/or managed by Green Hospitality Management
Co Ltd, will be operating under the Ramada and Days Inn brands.
The development of the nine hotels is likely to start between
2008 and 2013. Currently, Wyndham franchises three hotels in
Japan: the Ramada Sapporo, Ramada Osaka and Ramada Kansai International
Airport. |
|
| |
|
|
|
| Hong
Kong’s Miramar Hotel and Investment Company Limited (Miramar)
plans to expand in China following the completion of the refurbishments
and renaming of its flagship hotel in Hong Kong to ‘The
Mira’. The refurbishments, which include a new façade,
refurbished function spaces, redesigned restaurants and more
spacious rooms, cost approximately US$50 million. According
to the management, the refurbishments are likely to allow the
hotel to increase its average room rate by 40% to approximately
US$256. Miramar also commented that its low debt ratio is expected
to enable substantial leveraging in its planned expansions into
Beijing and Shanghai. |
|
| |
|
|
Absolute Share Price Performance, as at
22 August 2008
|
| |
|
Closing Share Price as at |
August
22 2008 |
August
15 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.55 |
4.40 |
3% |
| General
Property Group |
1.65 |
1.72 |
-4% |
| Mirvac
Group |
2.68 |
2.76 |
-3% |
| Ocean
Capital Limited |
0.40 |
0.40 |
– |
| Thakral
Holdings Group |
0.76 |
0.78 |
-2% |
| Living
and Leisure Australia Group |
0.05 |
0.05 |
-4% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
4.84 |
4.90 |
-1% |
| Dusit
Thani Public Co Ltd |
39.00 |
37.75 |
3% |
| The
Erawan Group Public Limited |
3.40 |
3.40 |
– |
| Grande
Asset Development |
3.30 |
3.02 |
9% |
| Laguna
Resorts & Hotel Public Co Ltd |
40.25 |
41.00 |
-2% |
| Minor
International PCL |
13.40 |
14.20 |
-6% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
10.00 |
10.26 |
-3% |
| Regal
Hotels International Holdings Ltd |
0.31 |
0.34 |
-7% |
| Sino
Hotels Holdings Ltd |
3.50 |
3.60 |
-3% |
| The
Hong Kong & Shanghai Hotels Ltd |
10.44 |
11.00 |
-5% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.34 |
0.39 |
-13% |
| ART
Management Pte Ltd |
0.96 |
1.01 |
-5% |
| Banyan
Tree Holdings Limited |
1.10 |
1.18 |
-7% |
| CDL
HTrust |
1.15 |
1.16 |
-1% |
| Hotel
Grand Central Ltd |
0.79 |
0.83 |
-5% |
| Hotel
Plaza Ltd |
1.43 |
1.51 |
-5% |
| Hotel
Properties Ltd |
1.86 |
2.09 |
-11% |
| Mandarin
Oriental International Ltd (US$) |
1.68 |
1.62 |
4% |
| Shangri-La
Asia Ltd |
14.00 |
17.00 |
-18% |
| Stamford
Land |
0.47 |
0.50 |
-2%-6% |
|
| |
|
Return to Headlines |
| |
|
|
| |
| 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. |
