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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 14
November 2008 |
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| The
Maldives’ newly elected President Mohamed ‘Anni’
Nasheed has announced plans to put aside part of the nation’s
billion dollar annual tourism revenue to purchase a new homeland
in the event of the archipelago’s devastation by rising
sea levels caused by climate change. Some of the new homelands
under consideration include India and Sri Lanka which have similar
cultures and climates, as well as Australia. |
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Hong Kong’s Shun Tak And Major Casino Operators Exploring
Gaming Opportunities In Korea |
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to Headlines |
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| Hong
Kong’s Shun Tak Holdings and other major casino operators,
Genting Group, Las Vegas Sands and MGM Mirage, are looking at
opportunities to develop gaming and resort businesses in South
Korea. In addition to the 20 casinos in the country, South Korea
is planning new gaming facilities and attracting foreign investments
on Jeju Island, a self-governing province located approximately
an hour’s flight away from Seoul. However, due to the
current regulations which limit gambling at casinos to foreigners,
the development is not expected to take place until 2015. The
relatively low gaming tax at 10% of gross gaming revenue in
South Korea makes gaming business competitive compared to the
39% gaming tax in Macau and 25% gaming tax in Malaysia and the
Philippines. |
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| Malaysia’s
Tourism Ministry will focus on potential niche areas in 2009
to boost Malaysia’s tourism sector. These niche areas
include health tourism, ecotourism, Malaysia My Second Home
(MM2H) programme and domestic tourism via the Zoom Malaysia
programme. The purpose is to increase the number of tourist
arrivals to Malaysia and generate national income during the
crisis period. In addition, the Tourism Ministry will also target
family and budget tourism, as well as value-added tourism to
ensure tourists would return to Malaysia for extreme sports
such as scuba diving. |
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| The
Hong Kong Tourism Board (HKTB) has launched the Meetings and
Exhibitions Hong Kong (MEHK) office to provide one-stop support
service to MICE organisers as the authorities look to softening
the impact of the global downturn on its high-yielding MICE
business. The office is planning targeted promotions to markets
such as mainland China and India for 2008/09 as it prepares
to be among the first to ride on the global economic recovery.
In the 2008/09 budget, the Hong Kong government has set aside
approximately US$19 million for the MICE promotional campaigns
of HKTB in the next five years. On average, more than 1,300
MICE events are held in Hong Kong annually, bringing in approximately
1.7 million international visitors and US$1,400 million in revenue. |
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| According
to Macau’s Statistics and Census Service, Macau recorded
304,260 visitor arrivals for the first nine months of 2008,
registering a 2.1% decline from the same period in 2007. Visitor
arrivals from Southeast Asia increased by 80% from 2007 figures
while arrivals from mainland China and Hong Kong decreased by
6.4% and 1.7%, respectively. The average hotel occupancy of
the market dropped by 4.7 percentage points to 66.8% while the
total supply of hotel rooms increased by 1,073 rooms to record
16,792 rooms. |
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Las Vegas Sands To Propose Opening Marina Bay Integrated Resort
Progressively |
Return
to Headlines |
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| Las
Vegas Sands (Sands) has submitted a request to the Singapore
authorities to open its integrated resort at Marina Bay progressively,
starting from 2009. Initially pledging to open the Marina Bay
Sands Integrated Resort (MBSIR) in a single phase by end-2009,
Sands has also announced its plans to delay projects in Macau
and the United States to focus on the MBSIR. According to the
Singapore Tourism Board, they are currently considering Sands’s
request and talks are underway to facilitate the success of
MBSIR. |
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Absolute
Share Price Performance, as at 14 November 2008 |
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Closing Share Price as at |
November
14 2008 |
November
7 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.15 |
4.30 |
-3% |
| General
Property Group |
1.12 |
0.90 |
24% |
| Mirvac
Group |
1.60 |
1.17 |
37% |
| Ocean
Capital Limited |
0.35 |
0.36 |
-1% |
| Thakral
Holdings Group |
0.58 |
0.63 |
-8% |
| Living
and Leisure Australia Group |
0.02 |
0.02 |
5% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
3.80 |
3.80 |
0% |
| Dusit
Thani Public Co Ltd |
18.40 |
20.80 |
-12% |
| The
Erawan Group Public Limited |
1.87 |
2.04 |
-8% |
| Grande
Asset Development |
1.90 |
2.30 |
-17% |
| Laguna
Resorts & Hotel Public Co Ltd |
24.00 |
24.50 |
-2% |
| Minor
International PCL |
7.00 |
7.75 |
-10% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
4.76 |
4.73 |
1% |
| Regal
Hotels International Holdings Ltd |
1.90 |
1.82 |
4% |
| Sino
Hotels Holdings Ltd |
3.00 |
3.07 |
-2% |
| The
Hong Kong & Shanghai Hotels Ltd |
6.05 |
6.74 |
-10% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.18 |
0.19 |
-5% |
| ART
Management Pte Ltd |
0.59 |
0.61 |
-3% |
| Banyan
Tree Holdings Limited |
0.50 |
0.61 |
-18% |
| CDL
HTrust |
0.66 |
0.73 |
-9% |
| Hotel
Grand Central Ltd |
0.46 |
0.51 |
-10% |
| Hotel
Plaza Ltd |
1.30 |
1.30 |
– |
| Hotel
Properties Ltd |
0.94 |
1.01 |
-7% |
| Mandarin
Oriental International Ltd (US$) |
1.03 |
1.13 |
-9% |
| Shangri-La
Asia Ltd |
9.62 |
9.02 |
7% |
| Stamford
Land |
0.25 |
0.28 |
-11% |
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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. |
