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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 25
July 2008 |
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St Regis Beijing Opens After US$27 Million Renovation And Restoration
Works |
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| Starwood
Hotels and Resorts Worldwide has announced the opening of the
newly refurbished St Regis Beijing following the US$27 million
renovation and restoration of its 258 guestrooms, 102 suites,
food and beverage outlets and public areas. Located on Jianguomenwai
Road in the city’s central business district, the St Regis
Beijing is within walking distance to the Silk Market, Ritan
Park and the historic Beijing International Club. The hotel
features an additional 28 suites, an approximately 1,996-square-metre
natural spring water spa, a signature Italian restaurant and
more than 1,200 square metres of meeting and event facilities.
The St Regis brand is also anticipated to debut in Bali, Bangkok,
Jakarta, Lhasa, Kuala Lumpur, Macau, Osaka and Tianjin. |
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| Japan’s
public-listed hotel operator Fujita Kanko Inc (Fujita) is expected
to launch a new luxury business hotel chain, Hotel Gracery,
targeted at high-end business travellers by the end of 2008.
Single rooms at Hotel Gracery are expected to reach US$111 to
US$139 per night. Two of Fujita’s Washington Hotels, located
in Tokyo’s Ginza District and Sapporo, are likely to be
upgraded to Hotel Gracery standards in October 2008. Concurrently,
a new hotel is expected to open in Tokyo’s Minato Ward
while nine additional hotels are expected to be added by 2013,
with Osaka and Sendai as possible locations. |
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Kumpulan Perangsang Selangor Berhad Acquires Three-Star Brisdale
Hotel In Malaysia |
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| Kumpulan
Perangsang Selangor Berhad (KPS) has successfully acquired the
three-star 275-room Brisdale Hotel located in Jalan Tuanku Abdul
Rahman, Kuala Lumpur, Malaysia from Kumpulan Hartanah Selangor
Berhad (KHS) for US$16.2 million. The sales transaction is expected
to be carried out by KPS’s 99 percent-owned Cash Band
(M) Berhad which is expected to pay approximately US$3.1 million
to KHS while KPS will transfer approximately 77 hectares of
leasehold land in Ulu Bernam, Selangor valued at approximately
US$7.3 million to settle a US$13.3 million debt the property
owes to KHS. The remaining US$5.8 million debt is expected to
be settled in cash. Occupying a freehold site of approximately
1,800 square metres, the ten-year-old and 18-storey high Brisdale
Hotel features two conference rooms, a café bar and a
swimming pool, among other hotel facilities. |
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Rates Rise While Occupancy Declines In Year-To-Date May Figures
For Singapore |
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| According
to year-to-date May 2008 figures, average daily rates (ADRs)
for five-star and four-star hotels in Singapore increased by
20% and 26% to US$243 and US$172, respectively, from the same
period in 2007. However, occupancy declined by approximately
four percentage points to 81% for five-star hotels and three
percentage points to 84% for four-star hotels within the same
period. Despite a likely addition of approximately 4,800 rooms
in 2009, ADRs are still expected to grow 7% to 10% by 2009,
with strong demand expected from increased MICE capacities and
positives from the tourism sector. |
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| Malaysia’s
Berjaya Land Berhad has announced that it has received offers
of US$62 million for its four-star 232-key Beau Vallon Bay Beach
Resort and Casino on Mahé Island and three-star 80-room
Seychelles Berjaya Praslin Beach Resort in Seychelles. Berjaya
Land is expecting approximately US$70 million for these two
properties. It is understood that no offers have yet been accepted
and Berjaya Land is still considering sale or redevelopment
options. According to Berjaya Land, it is likely to rebrand
the 323-room Berjaya Georgetown Hotel if it is not sold so as
to differentiate the various categories of hotels under Berjaya.
Berjaya Land is also considering selling its three-star Berjaya
Georgetown Hotel in Penang, which has a book value of approximately
US$24.6 million. |
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Kerry Properties To Develop New Project In Tangshan, China,
With Three Other Companies |
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| Hong
Kong-listed Kerry Properties, together with its sister company
Shangri-La Asia, Singapore’s Jeston Investment and Hong
Kong’s Winson Terrace, will jointly develop a US$1.07
billon project consisting of hotel, residential and commercial
components in Tangshan, Hebei Province, China. The joint venture
has purchased three sites worth a total of US$250 million for
the mixed-use project. Kerry Properties will hold a 40% stake
in the joint venture and Jeston Investment will hold 25%. Shangri-La
Asia, which is expected to manage the hotel component, will
hold 20% while the remaining 15% will be held by Winson Terrace. |
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Absolute Share Price Performance, as at
25 July 2008
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Closing Share Price as at |
July
25 2008 |
July
18 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.19 |
4.24 |
-1% |
| General
Property Group |
1.74 |
1.56 |
12% |
| Mirvac
Group |
2.45 |
2.30 |
7% |
| Ocean
Capital Limited |
0.40 |
0.40 |
– |
| Thakral
Holdings Group |
0.77 |
0.77 |
– |
| Living
and Leisure Australia Group |
0.04 |
0.04 |
3% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
5.35 |
5.65 |
-5% |
| Dusit
Thani Public Co Ltd |
38.50 |
38.75 |
-1% |
| The
Erawan Group Public Limited |
3.74 |
3.92 |
-5% |
| Grande
Asset Development |
3.82 |
3.30 |
16% |
| Laguna
Resorts & Hotel Public Co Ltd |
44.00 |
44.00 |
– |
| Minor
International PCL |
13.70 |
12.90 |
6% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
10.46 |
10.26 |
2% |
| Regal
Hotels International Holdings Ltd |
0.38 |
0.37 |
3% |
| Sino
Hotels Holdings Ltd |
3.55 |
3.48 |
2% |
| The
Hong Kong & Shanghai Hotels Ltd |
12.28 |
11.96 |
3% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.49 |
0.47 |
4% |
| CDL |
11.50 |
10.52 |
9% |
| Hotel
Grand Central Ltd |
0.92 |
0.90 |
2% |
| Hotel
Plaza Ltd |
1.65 |
1.58 |
4% |
| Hotel
Properties Ltd |
2.29 |
2.39 |
-4% |
| Mandarin
Oriental International Ltd (US$) |
1.76 |
1.80 |
-2% |
| Stamford
Land |
0.58 |
0.57 |
2% |
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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. |
