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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 8
August 2008 |
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Hilton
Hotels Corporation (Hilton) has announced the opening of Hilton
Beijing Wangfujing which is located along Wangfujing Street,
Beijing’s prominent commercial and social district. Owned
by Beijing Macau Development Company Limited and managed by
Hilton, the hotel features 255 guestrooms including 58 suites
with deluxe rooms, deluxe suites and the Penthouse Suite at
50 square metres, 92 square metres and 257 square metres, respectively.
The hotel offers four food and beverage outlets including a
Macanese restaurant and a Chinese restaurant, as well as a signature
spa with nine treatment rooms. |
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India’s
ITC Limited (ITC) has announced plans to expand its hospitality
business by developing new hotels in the country, including
an approximately 111,500-square-metre hotel in Kolkata at an
estimated investment amount of approximately US$203 million
and a 600-room Grand Chola in Chennai. Additionally, ITC has
purchased land sites in Ahmedabad, Hyderabad and Delhi to develop
hotels. The US$283 million Chennai hotel located in Guindy is
expected to be open by 2010 while ITC’s second hotel is
scheduled to open by 2009 in Bangalore. |
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According
to Union Tourism, India is aggressively targeting the meetings,
incentives, conventions and exhibitions (MICE) tourism market
with enquiries increasing more than 50% in 2007. In growing
MICE tourism in India, the country’s Ministry of Tourism
has kicked off the development of mega destinations and circuits
with investments of approximately US$5.9 million and US$11.8
million, respectively. Currently, 22 mega projects have been
identified, out of which ten are mega circuits, including the
Ganga heritage circuits in West Bengal whereby the entire stretch
of banks along the Ganga River would be developed. |
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New Zealand Developer Remains Committed To Build Proposed Five-Star
Hotel At Historic Britomart Precinct |
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to Headlines |
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Peter
Cooper, founder and executive chairman of developer Cooper and
Company (Cooper), remains committed to build a landmark 21-storey
hotel, over four times the allowable height limit, at the historic
Britomart Precinct in Auckland, New Zealand. Cooper is currently
working with local authorities to get the necessary approvals
and according to Mr Cooper, negotiations are at an advanced
stage for the Four Seasons to manage the proposed 175-key hotel.
The proposed hotel, which is expected to cost between approximately
US$107 million and US$133 million, may be able to be completed
in time for the 2011 Rugby World Cup. |
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The
Terengganu Tourism Association has requested the Terengganu
authorities to consider shifting the site of the bird’s
nest industry to Bukit Datu in Seberang Takir, four kilometres
from the city. Currently, the sites for the industry are creating
disturbances such as noise and smell to tourists. Complaints
from tourists have been constantly made to the tourism authorities
and they are presently identifying suitable sites to relocate
the industry. |
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A
total of 3.29 million foreign arrivals were recorded in South
Korea between January and June 2008, reflecting a 9.03% increase
from the same period in 2007. The Korea National Tourism Organisation
(KNTO) has attributed this increase mainly to the sustained
marketing efforts by the state and the recent waiver of visa
requirements for foreign arrivals into Jeju Island. On the other
hand, South Koreans travelling overseas increased by a mere
1.54% to 6.57 million during the first half of 2008. KNTO has
indicated that this is due to the weakening of the South Korean
won against the United States dollar by 10% during this period
and increasing oil prices and travel costs. |
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Absolute Share Price Performance, as at
8 August 2008
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Closing Share Price as at |
August
8 2008 |
August
1 2008 |
%
Change |
Australia
Stock Exchange (ASX) |
Amalgamated
Holdings |
4.25 |
4.17 |
2% |
General
Property Group |
1.71 |
1.57 |
9% |
Mirvac
Group |
2.81 |
2.53 |
11% |
Ocean
Capital Limited |
0.40 |
0.40 |
– |
Thakral
Holdings Group |
0.80 |
0.80 |
– |
Living
and Leisure Australia Group |
0.05 |
0.04 |
35% |
Bangkok
Stock Exchange (THB) |
Central
Plaza Hotel Public Co Ltd |
4.98 |
5.20 |
-4% |
Dusit
Thani Public Co Ltd |
36.25 |
36.75 |
-1% |
The
Erawan Group Public Limited |
3.40 |
3.44 |
-1% |
Grande
Asset Development |
3.02 |
3.50 |
-14% |
Laguna
Resorts & Hotel Public Co Ltd |
41.00 |
43.00 |
-5% |
Minor
International PCL |
13.30 |
12.80 |
4% |
Hong
Kong Stock Exchange (HK$) |
Miramar
Hotel International Ltd |
10.08 |
10.20 |
-1% |
Regal
Hotels International Holdings Ltd |
0.35 |
0.36 |
-1% |
Sino
Hotels Holdings Ltd |
3.59 |
3.55 |
1% |
The
Hong Kong & Shanghai Hotels Ltd |
11.34 |
11.94 |
-5% |
Singapore
Stock Exchange (S$) |
Amara
Holdings Ltd |
0.46 |
0.49 |
-6% |
CDL |
10.36 |
10.98 |
-6% |
Hotel
Grand Central Ltd |
0.86 |
0.89 |
-3% |
Hotel
Plaza Ltd |
1.55 |
1.60 |
-3% |
Hotel
Properties Ltd |
2.05 |
2.23 |
-8% |
Mandarin
Oriental International Ltd (US$) |
1.71 |
1.76 |
-3% |
Stamford
Land |
0.51 |
0.57 |
-11% |
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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. |