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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 12 December 2008
India’s ITC Limited To Acquire Hotels At Attractive Prices
Bangalore’s Hotels Witness Drop In Occupancy After Mumbai’s Terror Attacks
Mövenpick Hotels And Resorts Opens An Upscale Boutique Hotel In Hanoi, Vietnam
Dusit Ties Up With Lyceum To Offer Hospitality Courses In The Philippines
Pacific Regency Seeking Opportunities In Malaysia’s East Coast
Surge In Domestic Tourism In New Zealand
Absolute Share Price Performance, As At 12 December 2008
India’s ITC Limited To Acquire Hotels At Attractive Prices Return to Headlines
India’s ITC Limited has announced its plans to acquire attractive assets in the hospitality sector to leverage on opportunities in the current economic slowdown. The targeted assets could range from three-star to seven-star hotels. The group was reported to go forward with its plans to invest approximately US$3 billion between 2009 and 2015 in the hospitality, agri-business and fast moving consumer goods (FMCG) industries.
Bangalore’s Hotels Witness Drop In Occupancy After Mumbai’s Terror Attacks Return to Headlines
The Bangalore hospitality industry witnessed a sharp decline in occupancy and rates upon the Mumbai terror attacks on 26 November 2008. Luxury hotel occupancy levels have declined to 30% as foreign visitors, which make up about 80% to 85% of total guests in luxury hotels, avoid travelling to the city. Room rates also fell approximately 50%, where for US$164, guests can stay at a five-star hotel with breakfast and other services. According to hoteliers in the market, the hotels’ food and beverage businesses are also affected and expected to decline by 25%.
Mövenpick Hotels And Resorts Opens An Upscale Boutique Hotel In Hanoi, Vietnam Return to Headlines
Mövenpick Hotels and Resorts has announced the opening of an upscale boutique hotel, Mövenpick Hotel Hanoi, which is located in downtown Hanoi, Vietnam. The 154-guestroom Mövenpick Hotel Hanoi is the second Mövenpick hotel in Vietnam, following the opening of Mövenpick Hotel Saigon in Ho Chi Minh City in July 2008. The hotel is likely to feature two food and beverage outlets, including a wine cellar integrated with a lounge, a gym and wellness studio with a VIP treatment room featuring a whirlpool and four conference rooms with facilities which can cater for up to 110 persons.
Dusit Ties Up With Lyceum To Offer Hospitality Courses In The Philippines Return to Headlines
Thailand’s Dusit Thani Public Company Limited (Dusit) has reached an agreement with Lyceum of the Philippines University (LPU) to offer Dusit Thani College’s curriculum in hospitality management at the four LPU campuses in the Philippines. The Dusit Thani Manila, which was recently refurbished, will be utilised for student training. In addition, Dusit has plans to recruit a few thousand employees from the Philippines for several new Dusit hotels opening in the Middle East within the next few years.
Pacific Regency Seeking Opportunities In Malaysia’s East Coast Return to Headlines
Malaysia-based Pacific Regency Hotels and Resorts Sdn Bhd (Pacific Regency), the hospitality arm of Pan Global Bhd, is seeking to expand its hospitality business in the east coast of Malaysia, particularly boutique hotels. According to its management, the company is looking at existing properties with 50 to 60 rooms, which offer average room rates (ADR) of between US$280 and US$420, to acquire so as to facilitate its expansion. Its current flagship hotel, the 153-key Pacific Regency Hotel Suites, is hoping to increase its ADR by 20% in a challenging 2009 as it is likely to end 2008 with an ADR of approximately US$69 and average occupancy of 85%.
Surge In Domestic Tourism In New Zealand Return to Headlines
According to figures from Statistics New Zealand, domestic guest nights increased by 217,000 to record 1.6 million nights in October 2008, indicating a 16% growth from October 2007. These figures also boosted the total guest arrivals at accommodations which grew by 4%. Auckland recorded the highest growth among the cities, a 25% growth in domestic guest nights, and Canterbury also experienced a 15% increase in October 2008 over the same period in 2007. Local hoteliers have attributed the strong growth to the decline in fuel prices and the recent tax cuts implemented by the authorities. However, the growth in domestic guest nights was slightly offset by the decline in international guest nights, with Bay of Plenty and Auckland suffering a 28% and 11% decrease, respectively.
Absolute Share Price Performance, as at 12 December 2008
Closing Share Price as at 12 December 2008 5 December 2008 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.25 4.20 1%
General Property Group 0.90 0.83 8%
Mirvac Group 1.17 1.22 -4%
Ocean Capital Limited 0.35 0.35
Thakral Holdings Group 0.42 0.43 -3%
Living and Leisure Australia Group 0.03 0.03 4%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.20 3.10 3%
Dusit Thani Public Co Ltd 19.00 18.00 6%
The Erawan Group Public Limited 1.45 1.47 -1%
Grande Asset Development 1.90 1.90
Laguna Resorts & Hotel Public Co Ltd 22.90 22.70 1%
Minor International PCL 5.70 5.75 -1%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 5.28 4.75 11%
Regal Hotels International Holdings Ltd 1.82 1.78 2%
Sino Hotels Holdings Ltd 2.56 2.68 -4%
The Hong Kong & Shanghai Hotels Ltd 5.79 5.19 12%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.20 0.20
ART Management Pte Ltd 0.51 0.51 -1%
Banyan Tree Holdings Limited 0.40 0.39 3%
CDL HTrust 0.61 0.61
Hotel Grand Central Ltd 0.50 0.47 6%
Hotel Plaza Ltd 1.23 1.29 -5%
Hotel Properties Ltd 0.97 0.90 8%
Mandarin Oriental International Ltd (US$) 0.95 0.99 -4%
Shangri-La Asia Ltd 8.52 8.96 -5%
Stamford Land 0.26 0.24 8%
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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