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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 5
December 2008 |
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| Thailand’s
tourism industry may suffer greater damage from the closure
of the two airports in Bangkok in October 2008 compared to the
severe acute respiratory syndrome (SARS) outbreak between 2002
and 2003 or the 2004 tsunami disaster. The closure of the airports
had hindered the access of long-haul travellers who transit
through Bangkok to other provinces while Asian visitors who
are cautious of the security situation may avoid direct Asian
flights to Phuket, Koh Samui and Chiang Mai. According to JPMorgan
Securities (Thailand), the political demonstrations are expected
to directly impact service-related industries such as hotels,
restaurants and exporters of perishable products or electronics
which rely on air freight, and indirectly impact the banking
and retail sectors. |
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| Employees
at some island resorts in the Maldives, including Sri Lanka’s
Aitken Spence Group’s Meedhuparu Island resort and the
One and Only resort, had gone on strike, demanding the management
implement the new Employment Act. The new act which was in place
since mid-October 2008 includes limiting the working week to
48 hours, maximum eight-hour shift a day, and holiday and overtime
payments. However, local and foreign owners of island resorts
were reluctant to comply with the law which requires them to
double the number of employees and incur an additional US$200,000
per annum on staff welfare. According to sources, the series
of strikes that hit the Maldivian resorts had ended following
presidential intervention and a peaceful resolution. |
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| According
to the Cambodian tourism minister, Thon Khong, the tourism industry
of Cambodia is expected to suffer around US$100 million in losses
if the political situation in Thailand does not clear up by
the first quarter of 2009. There are approximately 1,500 tourists
in Cambodia arriving through Bangkok daily, accounting for 30%
of total daily arrivals. Each of these tourists is forecast
to spend an average of US$770 daily. Tourist arrivals to Cambodia
have declined by almost 25% since the global financial crisis
emerged. |
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| The
296-room Hilton Otaru, located in Japan’s Hokkaido Prefecture,
has been purchased by Park Hotel Group from Ishin Hotels Group.
The hotel, which is currently operated under a franchise agreement
with Hilton International, is set to be rebranded as Grand Park
Otaru. The acquisition of Hilton Otaru is Park Hotel Group’s
first in Japan and this follows its recent acquisition of the
338-room Grand Castle Hotel Xian, which will be rebranded as
Grand Park Xian in China. Otaru, a city and port in northwest
Sapporo, is a popular resort destination featuring marine attractions,
historic buildings and cultural attractions. |
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| According
to the Department of Tourism (DOT) Research and Statistics Division,
the average occupancy of hotels in Metro Manila recorded 70.24%
in the first nine months of 2008, reflecting a 3.48-percentage-point
decline from the same period in 2007. The hotels, which are
classified under deluxe, first class, standard and economy categories,
recorded an average length of stay of 2.41 nights over these
nine months. This represented a slight decline from 2.45 nights
for the same period in 2007. The average occupancy of deluxe
hotels was recorded at 70.86% while first class hotels registered
69.47%. During the same period, standard hotels and economy
hotels recorded 71.08% and 59.91%, respectively. |
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HVS, BISU And BHI Host 5th China Hotel Investment Summit in
April 2009 : FOCUS ON CHINA – ASIA’S POWERHOUSE |
Return
to Headlines |
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As
the largest and most established hotel investment summit held
in mainland China, the upcoming 5th annual China Hotel Investment
Summit (CHIS) 2009 promises an insightful experience for participants.
The Summit will be held at the Grand Hyatt Shanghai from 22
to 24 April 2009.
“China provides the long term growth market for many domestic,
regional and global firms. The current global economic uncertainties
have presented both challenges and opportunities. Keeping abreast
with the latest events and market trends, and how these changes
could shape your businesses going forward, is of primary importance.
Networking, and sharing of best practices, will help us better
prepared to navigate through challenging situations and realizing
new opportunities”, says David Ling, Managing Director
of HVS Asia Pacific.
Investments in China’s hotel and travel-related industries
are among the highest in the world. This is driven by phenomenal
growth in the country’s travel and tourism sectors. Over
the past five years, domestic visitor arrivals grew 85% to 16.1
billion visitors by 2007; the international arrivals increased
43% reaching 132 million visitors, and gross tourism revenue
reaching 1,080 billion yuan. This has fuelled rising demand
in related industries including hotel and serviced residential
lodging, air and land transportation, construction, professional
services, tourism, retail, and so forth. While growth in the
near-term could be moderated, the long-term outlook is promising,
considering the country’s economic fundamentals and growing
affluence.
Professor Dai Bin, Vice President of China Tourism Academy and
President of Beijing Hospitality Institute, added that “the
determination of the Chinese government in ensuring the continued
growth in the economy is reflected in the 4 trillion yuan (approximately
US$570 billion) stimulus package announced on 9 November 2008.
The fund will finance a wide range of projects, including the
country’s infrastructure, which could incite consumer
spending and bolster the economy especially in tourism market
and hotel investment”.
To network and explore new ideas and opportunities in the vast
market of 1.3 billion people, please visit: chinahotelsummit.com
for registration, exhibit and sponsorship information.
For other information and queries, please contact:
Adeline Phua
HVS Singapore
Tel: +65 62934415 Ext 17
Fax: +65 62935426
Email: [email protected]
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Absolute
Share Price Performance, as at 5 December 2008 |
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Closing Share Price as at |
5
December 2008 |
November
28 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.20 |
4.10 |
2% |
| General
Property Group |
0.83 |
0.94 |
-12% |
| Mirvac
Group |
1.22 |
1.37 |
-11% |
| Ocean
Capital Limited |
0.35 |
0.35 |
– |
| Thakral
Holdings Group |
0.43 |
0.50 |
-13% |
| Living
and Leisure Australia Group |
0.03 |
0.02 |
13% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
3.10 |
3.20 |
-3% |
| Dusit
Thani Public Co Ltd |
18.00 |
20.50 |
-12% |
| The
Erawan Group Public Limited |
1.47 |
1.47 |
– |
| Grande
Asset Development |
1.90 |
1.90 |
– |
| Laguna
Resorts & Hotel Public Co Ltd |
22.70 |
22.60 |
0% |
| Minor
International PCL |
5.75 |
6.45 |
-11% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
4.75 |
4.89 |
-3% |
| Regal
Hotels International Holdings Ltd |
1.78 |
1.79 |
-1% |
| Sino
Hotels Holdings Ltd |
2.68 |
2.60 |
3% |
| The
Hong Kong & Shanghai Hotels Ltd |
5.19 |
5.66 |
-8% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.20 |
0.20 |
0% |
| ART
Management Pte Ltd |
0.51 |
0.53 |
-3% |
| Banyan
Tree Holdings Limited |
0.39 |
0.40 |
-3% |
| CDL
HTrust |
0.61 |
0.61 |
0% |
| Hotel
Grand Central Ltd |
0.47 |
0.46 |
2% |
| Hotel
Plaza Ltd |
1.29 |
1.26 |
2% |
| Hotel
Properties Ltd |
0.90 |
0.89 |
1% |
| Mandarin
Oriental International Ltd (US$) |
0.99 |
1.00 |
-1% |
| Shangri-La
Asia Ltd |
8.96 |
9.10 |
-2% |
| Stamford
Land |
0.24 |
0.24 |
0% |
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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. |
