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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 7
November 2008 |
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India
hoteliers are contemplating decreasing their room rates by 10%
to 15% in light of current economic conditions after a meeting
with the local tourism authorities. The meeting, which was convened
to assess the impact of the global meltdown on the tourism industry,
also brought up the demands made by hoteliers including more
liberal rules for external commercial loans and computation
of the Floor Area Ratio. It was also suggested that the primary
reason for soaring room rates was the costly land auctioned
by the local authorities which results in high development costs. |
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Transmetro
Corporation Limited (Transmetro) has officially launched Aspire
Hotels, a new hotel brand in Australia, through its subsidiary
Metro Hospitality Group. In view of increasing acquisitions,
Aspire Hotels, which will be positioned in the mid-market range,
was launched to further define the Metro Hotels brand. The former
Aspen Hotel Ultimo, which is located near Darling Harbour in
Sydney, has been rebranded as the Aspire Hotel Sydney. |
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The
400-room Radisson Hotel Cebu, which is owned by SM Investments
Corporation (SM Investments), is on schedule to open by March
2009. With a total investment of approximately US$58 million
and located near SM City Cebu at the Cebu north reclamation
area, the 20-storey hotel will be SM Investments’ first
in Cebu and the country’s first Radisson. SM Investments
has also confirmed that they are currently considering the construction
of a convention centre near the hotel. |
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Starwood
Hotels and Resorts and Mori Trust Company Limited have signed
an agreement for the development of Westin Sendai to be located
in Sendai, Japan. Scheduled to open in 2010, the 287-guestroom
Westin Sendai is expected to offer three food and beverage outlets,
including two restaurants and a lounge, five banquet rooms,
a wedding chapel, a fitness centre and more than 464 square
metres of meeting and function space. |
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Dusit
International has announced the addition of the riverfront all-suites
hotel development, Chatrium Suites Bangkok, to its Dusit Thani
portfolio of hotels and resorts. Located along the Chao Phraya
River, the five-star hotel is approximately 45 minutes’
drive from the Suvarnabhumi International Airport and nearby
the major thoroughfares of Silom, Sathorn and Rama III roads.
The 35-storey hotel is expected to launch its soft opening in
December 2008, offering 396 suites distinguished by the Grand
Floors from the seventh to 31st floors, the Executive Floors
from the 32nd to 34th floors and the exclusive penthouse Premier
Floor located on the 35th floor. |
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The
shortage of high-end hotel rooms and high rental prices in Hanoi,
the capital city of Vietnam, have resulted in a decrease in
international arrivals to the country. In the first nine months
of 2008, the number of foreign visitors to Hanoi hit 960,000,
a year-on-year increase of only 5%. According to the Hanoi Tourism
Department, currently Hanoi has eight five-star hotels and 27
four-star and three-star hotels, and the hotels are running
at an average occupancy of 85% to 95% and an average room rate
of US$160. The capital is expected to attract two million foreign
visitors which require 7,000 luxury hotel rooms. Among the luxury
hotel development projects, the newly licensed projects are
likely to add only 2,000 more rooms by 2010. By 2013, it is
expected that approximately US$2.5 billion will be poured into
real estate projects in Hanoi. |
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Absolute
Share Price Performance, as at 7 November 2008 |
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Closing Share Price as at |
November
7 2008 |
October
31 2008 |
%
Change |
Australia
Stock Exchange (ASX) |
Amalgamated
Holdings |
4.30 |
4.20 |
2% |
General
Property Group |
0.90 |
0.75 |
21% |
Mirvac
Group |
1.17 |
0.99 |
19% |
Ocean
Capital Limited |
0.36 |
0.35 |
1% |
Thakral
Holdings Group |
0.63 |
0.53 |
19% |
Living
and Leisure Australia Group |
0.02 |
0.02 |
-10% |
Bangkok
Stock Exchange (THB) |
Central
Plaza Hotel Public Co Ltd |
3.80 |
3.80 |
– |
Dusit
Thani Public Co Ltd |
20.80 |
17.00 |
22% |
The
Erawan Group Public Limited |
2.04 |
2.00 |
2% |
Grande
Asset Development |
2.30 |
2.30 |
– |
Laguna
Resorts & Hotel Public Co Ltd |
24.50 |
24.20 |
1% |
Minor
International PCL |
7.75 |
7.55 |
3% |
Hong
Kong Stock Exchange (HK$) |
Miramar
Hotel International Ltd |
4.73 |
4.80 |
-1% |
Regal
Hotels International Holdings Ltd |
1.82 |
1.44 |
26% |
Sino
Hotels Holdings Ltd |
3.07 |
3.10 |
-1% |
The
Hong Kong & Shanghai Hotels Ltd |
6.74 |
7.21 |
-7% |
Singapore
Stock Exchange (S$) |
Amara
Holdings Ltd |
0.19 |
0.19 |
– |
ART
Management Pte Ltd |
0.61 |
0.47 |
30% |
Banyan
Tree Holdings Limited |
0.61 |
0.50 |
22% |
CDL
HTrust |
0.73 |
0.66 |
10% |
Hotel
Grand Central Ltd |
0.51 |
0.48 |
– |
Hotel
Plaza Ltd |
1.30 |
1.31 |
-1% |
Hotel
Properties Ltd |
1.01 |
0.95 |
6% |
Mandarin
Oriental International Ltd (US$) |
1.13 |
1.28 |
-12% |
Shangri-La
Asia Ltd |
9.02 |
10.50 |
-14% |
Stamford
Land |
0.28 |
0.25 |
12% |
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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. |