| Sign
up to automatically receive HVS mailings |
| |
 |
Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 31
October 2008 |
 |
|
 |
|
|
| |
 |
Singapore’s Resorts World At Sentosa And Marina Bay Integrated
Resort Likely To Be Delayed |
Return
to Headlines |
 |
|
|
| The
US$4.1 billion Resorts World at Sentosa is scheduled to open
four hotels, Universal Studios and the casino of the Sentosa
integrated resort (IR) in the first quarter of 2010. According
to market sources, Resorts World at Sentosa is currently negotiating
with the Singapore government to defer the opening of the remaining
facilities in the resort due to the need to allocate storage
space for the theme park equipment. Similarly, the US$4.5 billion
IR at Marina Bay is unlikely to open by the end of 2009 due
to delay in the foundation works, shortage of labour and rising
construction costs. Upon awarding the two projects in 2006,
both companies are expected to commence construction by 2009
and complete the projects by 2014. Otherwise, the companies
will forfeit their deposits of approximately US$135 million
each and the land may be repossessed as a penalty. |
|
| |
| |
|
| Frasers
Hospitality Private Limited, the hospitality arm of Frasers
Centrepoint Limited, has announced the opening of the 317-room,
five-tower Fraser Suites Top Glory in Lujiazui, Shanghai, China.
Owned by the China conglomerate, COFCO, the serviced residence
offers two-bedroom to four-bedroom apartments and penthouses,
a business centre, outdoor and indoor heated swimming pools,
a spa, a fitness club, tennis courts, a library, a games room,
a children’s playground and other amenities. Despite the
global economic uncertainty, Frasers Hospitality CEO, Choe Peng
Sum, remains positive about the serviced residence industry,
as companies seek more flexible accommodation packages for their
staff. |
|
| |
| |
|
| The
Philippines’ SM Group has established a new subsidiary,
SM Hotels Corporation, to oversee the development of its hotel
projects in Metro Manila and may get similar firms to carry
out its hotel expansion plans in other key cities. Hotel Specialist
(Manila), Inc, the operating arm of SM Group’s hotel development
unit in Manila, was newly set up to operate the group’s
clubhouses, restaurants, refreshment parlours and entertainment
outlets. In addition, Hotel Specialist is developing two hotels
near the SM Mall of Asia complex in Pasay City. The two hotels
are expected to open in 2010 and be managed by Carlson Hotels
Worldwide – Asia Pacific. |
|
| |
| |
|
| W
Hotels makes its entry into China with the opening of the 393-key
W Hong Kong. Located in the new commercial and entertainment
hub of West Kowloon District, the opening marks the entry of
the first signature W’s Bliss Spa in Asia. In addition,
the hotel also features two signature restaurants, a swimming
pool, a fitness facility located on the 73rd storey, 7,618 square
metres of meeting facilities and the W lounge. The hotel is
owned by Hong Kong’s Sun Hung Kai Properties and forms
the centrepiece of the 92-storey Cullinan complex. |
|
| |
| |
|
| The
177-key Oakwood Premier Prestige Bangalore has opened in UB
City, the largest commercial property project in Bangalore,
India. Offering apartments ranging from studio to three-bedroom
units, the property also features a restaurant, a health club
and spa and a rooftop swimming pool among its facilities. With
convenient access to the city centre and in close proximity
to tourist attractions such as Cubbon Park and Lal Bagh Museum,
as well as shopping areas such as MG Road and Brigade Road,
the property is well-positioned to cater to both the corporate
and leisure travellers. Oakwood Worldwide has plans to add ten
properties in India by 2010 in Mumbai and Pune, and other future
plans include properties in Chennai, Hyderabad, Kerala and New
Delhi. |
|
| |
| |
|
| The
Stella Hospitality Group, a branded hotel operator in Australia,
has launched the Peppers York Cove Tamar Valley in northern
Tasmania, Australia. The waterfront resort, located at the mouth
of the picturesque Tamar River, features rooms and apartments
with en-suite bathrooms, spas and designer kitchens. In addition,
the resort also offers a heated pool and spa, a gymnasium, a
restaurant and bar, a marina with berthing facilities and meeting
facilities with a capacity of 55 persons. |
|
| |
|
Absolute
Share Price Performance, as at 31 October 2008 |
| |
|
Closing Share Price as at |
October
31 2008 |
October
24 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.20 |
4.20 |
– |
| General
Property Group |
0.75 |
1.15 |
-35% |
| Mirvac
Group |
0.99 |
1.64 |
-40% |
| Ocean
Capital Limited |
0.35 |
0.40 |
-13% |
| Thakral
Holdings Group |
0.53 |
0.64 |
-17% |
| Living
and Leisure Australia Group |
0.02 |
0.02 |
-13% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
3.80 |
3.98 |
-5% |
| Dusit
Thani Public Co Ltd |
17.00 |
18.90 |
-10% |
| The
Erawan Group Public Limited |
2.00 |
1.90 |
5% |
| Grande
Asset Development |
2.30 |
2.00 |
15% |
| Laguna
Resorts & Hotel Public Co Ltd |
24.20 |
24.00 |
1% |
| Minor
International PCL |
7.55 |
7.60 |
-1% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
4.80 |
5.06 |
-5% |
| Regal
Hotels International Holdings Ltd |
1.44 |
1.62 |
-11% |
| Sino
Hotels Holdings Ltd |
3.10 |
3.20 |
-3% |
| The
Hong Kong & Shanghai Hotels Ltd |
7.21 |
6.12 |
18% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.19 |
0.17 |
12% |
| ART
Management Pte Ltd |
0.47 |
0.47 |
1% |
| Banyan
Tree Holdings Limited |
0.50 |
0.53 |
-6% |
| CDL
HTrust |
0.66 |
0.64 |
3% |
| Hotel
Grand Central Ltd |
0.48 |
0.48 |
– |
| Hotel
Plaza Ltd |
1.31 |
1.23 |
7% |
| Hotel
Properties Ltd |
0.95 |
0.94 |
1% |
| Mandarin
Oriental International Ltd (US$) |
1.28 |
1.10 |
16% |
| Shangri-La
Asia Ltd |
10.50 |
8.00 |
31% |
| Stamford
Land |
0.25 |
0.22 |
14% |
|
| |
|
Return to Headlines |
| |
|
| |
| 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. |
