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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 11
July 2008 |
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Wyndham Brand To Expand In China With The Opening of 337-Room
Hotel In Shanghai |
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| Wyndham
Hotel Group International has announced plans to expand the
Wyndham Hotels and Resorts brand in China with the development
of the 337-room Wyndham Baolian Hotel in Baoshan District, Shanghai,
China. The group has signed a ten-year agreement with the owner,
Shanghai Baolian Real Estate Company Limited, to manage the
15-storey hotel which is scheduled to open in April 2010. The
hotel is expected to feature four food and beverage outlets,
a signature Wyndham Blue Harmony spa and fitness centre, a swimming
pool, a business centre and 1,650 square metres of meeting space
including a 1,000-square-metre ballroom. The Wyndham brand is
expected to make its debut in Asia Pacific during the fourth
quarter of 2008 with the opening of the 609-room Wyndham Xiamen
Hotel located in Xiamen, Fujian Province, China. |
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Karambunai Corporation Berhad Partners With Landlovers Korea
Company Limited To Develop A Resort In Sabah, Malaysia |
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| Malaysia's
public-listed Karambunai Corporation Berhad's wholly owned subsidiary,
Karambunai Resorts Sdn Berhad (KRSB), has announced a joint
venture with Landlovers Korea Company Limited (LKCL) to develop
a Korean Village Resort on a 265,000-square-metre land parcel
in Sabah, East Malaysia. The land component of the development
is expected to cost approximately US$27 million or US$9.30 per
square metre. KRSB is expected to hold a 30% stake in the joint
venture while LKCL will hold the remaining 70%. |
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Sociedae De Jogos De Macau Holdings Successfully Launches IPO
On Hong Kong Stock Exchange |
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| Macau's
Sociedae de Jogos de Macau Holdings (SJM) has successfully launched
its initial public offering (IPO) on the Hong Kong Stock Exchange
and raised US$494 million. SJM reportedly issued 1.25 billion
new shares at approximately US$0.40 per share, making up 25%
of its enlarged equity through the IPO. In the wake of the United
States subprime mortgage crisis and weak market sentiments,
the IPO was sold at the low end of the indicative price range
to investors. The move was to raise funds to compete against
its new business rivals such as Wynn Resorts and Las Vegas Sands. |
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| Higher
costs accrued from rising oil and food prices are likely to
cause the number of outbound Japanese summer tourists to fall
7% to 2.25 million. Based on current bookings by travel agencies,
Japan's visitation to the Asian region is forecast to decline
by 11.9% to 1.14 million, with China expecting to suffer a significant
36.6% drop due mainly to the turmoil in Tibet and the Sichuan
earthquake. The average cost of an overseas holiday is likely
to increase by 3.4%, recording approximately US$2,300. Domestic
travel is also expected to fall to 73.5 million arrivals, reflecting
a 0.9% fall from 2007. |
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| According
to latest tourism statistics by the Australian Bureau of Statistics,
year-to-date March 2008 figures recorded 67.1% in hotel occupancy
across the Australia Capital Territory (ACT), reflecting a 7.5%
drop as compared to 2007. However, revenue from accommodation
increased from US$48 million to US$49 million over the same
period. Industry experts have attributed the declining occupancy
to the 2006 budget cut in tourism expenditure by the authorities
and such cuts typically take up to two years to affect visitations.
Decreased demand from the Corporate and Government-related segments
has further fuelled the downward pressure on occupancies. It
is believed that more tourism funding can be utilised to attract
Leisure demand to offset the fall in Corporate demand. |
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| The
220-unit Raffles Residences Manila, which occupies the top 20
storeys of the proposed Raffles Hotel Manila, has launched its
pre-construction sales. The residential units in the project,
located at the junction of Makati Avenue and Arnaiz Avenue in
Makati City, the Philippines, will be offered for sale starting
from US$200,000 to US$1.5 million for its penthouse apartments.
Raffles Hotel and Residences Manila, which is expected to be
completed by late 2010, will be Dubai-based Kingdom Hotel Investments's
third residential development following the recent announcement
of Raffles developments in Seychelles and Vietnam. |
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Absolute Share Price Performance, as at
11 July 2008
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Closing Share Price as at |
July
11 2008 |
July
4 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.40 |
4.75 |
-7%
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| General
Property Group |
1.56 |
2.46 |
-37%
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| Mirvac
Group |
2.11 |
2.85 |
-26%
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| Ocean
Capital Limited |
0.41 |
0.41 |
- |
| Thakral
Holdings Group |
0.78 |
0.80 |
-3% |
| Living
and Leisure Australia Group |
0.03 |
0.05 |
-24% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
5.90 |
5.80 |
2% |
| Dusit
Thani Public Co Ltd |
38.75 |
37.25 |
4% |
| The
Erawan Group Public Limited |
3.94 |
3.96 |
-1% |
| Grande
Asset Development |
4.00 |
4.10 |
-2% |
| Laguna
Resorts & Hotel Public Co Ltd |
46.50 |
48.50 |
-4% |
| Minor
International PCL |
13.20 |
14.10 |
-6% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
11.10 |
10.88 |
2% |
| Regal
Hotels International Holdings Ltd |
0.39 |
0.37 |
7% |
| Sino
Hotels Holdings Ltd |
3.83 |
3.83 |
- |
| The
Hong Kong & Shanghai Hotels Ltd |
11.64 |
11.40 |
2% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.49 |
0.47 |
4% |
| CDL |
11.22 |
10.90 |
3% |
| Hotel
Grand Central Ltd |
0.91 |
0.93 |
-2% |
| Hotel
Plaza Ltd |
1.63 |
1.64 |
-1% |
| Hotel
Properties Ltd |
2.53 |
2.55 |
-1% |
| Mandarin
Oriental International Ltd (US$) |
1.91 |
1.80 |
6% |
| Stamford
Land |
0.58 |
0.58 |
- |
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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. |
