| Vietnam And Thailand To Feature At 4th China Hotel Investment Summit | Return to Headlines |
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The countries of Vietnam and Thailand will be featured as two of the fastest growing hotel markets at the 4th China Hotel Investment Summit. Both Vietnam and Thailand are experiencing a boom in hotel investments and construction. The annual China Hotel Investment Summit is co-hosted by HVS and Beijing International Studies University (BISU) and jointly organised by HVS and Phoenix Consulting. The event will be held at the Grand Hyatt Shanghai from 16 to 18 April 2008. The topic of 'Vietnam – The Next China?' will be discussed by key players in that market including Stephen O'Grady, Managing Director of VinaCapital Hospitality; Stephen Young, Senior Vice President of Wyndham Worldwide; Jason Herthel, Asst General Counsel of The Kor Group; and moderated by veteran hospitality legal practitioner, Andrew MacGeoch, of Mayer Brown JSM. Brian Deeson, Senior Vice President of Accor Asia Pacific has pulled together a highly qualified panel comprising Markland Blaiklock, CEO of Grande Asset Development; Chris Chung, Vice President-Real Estate of Lehman Brothers; Bill Barnett, Managing Director of C9 Hotelworks, Kevin Beauvais, CEO of Invision Hospitality; and Paisit Kaenchan, Chief Investment Officer of TCC Land Development to explore 'Investment Opportunities in Thailand'. The 4th China Hotel Investment Summit is the most established and successful hotel investment conference in China, attended by over 600 industry leaders from China and 22 other countries. Please visit http://www.ChinaHotelSummit.com for registration and sponsorship information. For additional information, please contact: Adeline Phua |
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| Hong Kong Developers Show Lukewarm Response To Proposed Hotel Sites In Hong Kong | Return to Headlines |
| Hong Kong property developers have shown tepid response to the ten hotel sites released by the Hong Kong government at ten non-core areas in its bid to introduce new hotel supply to accommodate its growing tourism sector. The new hotel sites are not expected to entice the bigger property players in the market as these locations are considered to be able to achieve rental yields of only between 5% and 6%. In addition, the high land costs in Hong Kong are expected to lower the margins on hotel investments which have a longer payback period compared to residential and office investments. In addition, the higher construction costs and operating costs for hotel development, as well as the availability of more attractive land investments in other countries would dampen developers' interests to apply for the hotel sites. | |
| Jumeirah Enters China With Chinese Brand Name | Return to Headlines |
| United Arab Emirates' Jumeirah Hotel Group has announced its entry to the high-end hotel market in China through its Chinese brand name, Zun Ya. Scheduled to open in August 2008, the group's first and flag-ship hotel in China will be located in downtown Shanghai. The adoption of a Chinese brand name illustrates the group's determination to tap on the China market and allow the local guests to know Jumeirah better. The group is expected to open another 13 luxury hotels in the Asia Pacific region, of which five are expected to be opened in China. | |
| Boom In Beijing Hotel Market For Olympics | Return to Headlines |
| Rack rates for Beijing hotels have reportedly increased by four to ten times than usual during the Olympic Games period and standard rooms in four- star and five-star hotels have been nearly fully booked. According to Ctrip, China's biggest online booking provider, there are only approximately 20 hotels which still have rooms available, with the majority being luxury suites. Most hotels require guests to pay full upfront prices and they will not refund if the reservations are cancelled. There are also 1,000 officially designated 'Olympic Family Hotels' which are expected to charge US$50 to US$80 per night. The Beijing Olympics co-host cities of Qingdao and Shenyang are also expecting room rates to increase by 30% to 100% during the Games period. | |
| TCC Land Expanding Into Budget Hotel Segment In Thailand | Return to Headlines |
| TCC Land has announced it is looking to co-invest, take over and manage hotels under its budget hotel brand, Imm. Its Imm brand is sub-divided into three sub-brands: Imm Hotels being city hotels; Imm Fusion Hotels as boutique-style hotels; and Imm Eco Hotels mainly for provincial destinations. Currently, there are two Imm properties operating in Chiang Mai and Sukhumvit, Bangkok, and there are plans to add more in Phuket, Krabi and Hua Hin. On a separate note, TCC is also launching its latest luxury Asiatique Hotel with properties in Bangkok and Thon Buri by 2010. A second Plaza Athenee Hotel in Bangkok is also in its planning stage. In addition, a Loft Hotel is scheduled to open in Bangkok in 2009 while a 400-key Marriott hotel and 200-room Holiday Inn are expected to open in 2010. The Le Meridien Bangkok and Le Meridien Chiang Mai are well on track to open in the later part of 2008. | |
| Positive Outlook For India's Hospitality Sector | Return to Headlines |
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The Indian hospitality sector is expected to remain positive in the immediate future as an estimated US$11.4 billion of investments and 40 international brands are expected to be introduced to the market by 2011. In 2008, the sector is also expected to experience a 14% increase in average wage which is likely to attract more new working adults than other sectors. The hospitality sector has been driven by the increase in occupancy, which currently hovers between 75% to 80%, and significant increases in average room rates. |
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| Absolute Share Price Performance, as at 14 March 2008 |
