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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 12
December 2008 |
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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. |
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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%. |
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Mövenpick
Hotels And Resorts Opens An Upscale Boutique Hotel In Hanoi,
Vietnam |
Return
to Headlines |
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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. |
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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. |
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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$69 and average occupancy
of 85%. |
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According
to figures from Statistics New Zealand, domestic guest nights
increased by 217,000 to record 1.6 million nights in October
2008, indicating a 16% growth from October 2007. These figures
also boosted the total guest arrivals at accommodations which
grew by 4%. Auckland recorded the highest growth among the cities,
a 25% growth in domestic guest nights, and Canterbury also experienced
a 15% increase in October 2008 over the same period in 2007.
Local hoteliers have attributed the strong growth to the decline
in fuel prices and the recent tax cuts implemented by the authorities.
However, the growth in domestic guest nights was slightly offset
by the decline in international guest nights, with Bay of Plenty
and Auckland suffering a 28% and 11% decrease, respectively. |
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Absolute
Share Price Performance, as at 12 December 2008 |
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Closing Share Price as at |
12
December 2008 |
5
December 2008 |
%
Change |
Australia
Stock Exchange (ASX) |
Amalgamated
Holdings |
4.25 |
4.20 |
1% |
General
Property Group |
0.90 |
0.83 |
8% |
Mirvac
Group |
1.17 |
1.22 |
-4% |
Ocean
Capital Limited |
0.35 |
0.35 |
– |
Thakral
Holdings Group |
0.42 |
0.43 |
-3% |
Living
and Leisure Australia Group |
0.03 |
0.03 |
4% |
Bangkok
Stock Exchange (THB) |
Central
Plaza Hotel Public Co Ltd |
3.20 |
3.10 |
3% |
Dusit
Thani Public Co Ltd |
19.00 |
18.00 |
6% |
The
Erawan Group Public Limited |
1.45 |
1.47 |
-1% |
Grande
Asset Development |
1.90 |
1.90 |
– |
Laguna
Resorts & Hotel Public Co Ltd |
22.90 |
22.70 |
1% |
Minor
International PCL |
5.70 |
5.75 |
-1% |
Hong
Kong Stock Exchange (HK$) |
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% |
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Return to Headlines |
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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. |