| Sign
up to automatically receive HVS mailings |
| |
 |
Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 19
September 2008 |
 |
|
 |
|
|
| |
|
|
|
| According
to market analysts, Thailand’s tourism industry which
accounts for approximately 6% of the nation’s gross domestic
product (GDP) is expected to suffer losses of around US$2 billion
in 2008 should the political unrest in the nation extend. Popular
tourist destinations such as Pattaya, which are highly dependent
on tourism revenue, are expected to be affected under the political
conflicts. Pattaya, which is approximately two and a half hours
from Bangkok, has witnessed a decline in visitor arrivals by
50% since September 2008 and business leaders in the area are
expecting a 30% downturn in 2008. Entering the peak holiday
season, the tourism authorities plan to reassure the travellers
through embassies and foreign-owned businesses in Pattaya that
holidays in Thailand will be safe. |
|
| |
|
|
|
| The
first JW Marriott hotel, JW Marriott Danang Resort, is scheduled
to open in Vietnam’s central coastal city, Danang, in
2011. Marriott International has signed a long-term management
agreement with VinaCapital Danang Resort Limited to manage the
271-room JW Marriott Danang Resort which has an investment capital
of US$60 million. The resort is part of a 2.6-million-square-metre
mixed-use development which comprises villas and a golf course,
as well as residential developments, an exhibition and convention
centre, a trade centre and two mid-tier hotels which are expected
to be completed in the second phase of the development. |
|
| |
 |
Malaysia’s Berjaya Land Berhad In Joint Venture With Libya’s
Oyia Co To Develop Integrated Project In Tripoli, Libya, North
Africa |
Return
to Headlines |
 |
|
|
| Malaysia’s
Berjaya Land Berhad’s (Bland) subsidiary, Berjaya Leisure
(Cayman) Limited (BCayman) has partnered with Libya’s
Oyia Co for Development and Tourism Investment (Oyia) to develop
a US$2 billion integrated development in Tripoli, Libya, North
Africa. Occupying three parcels of land totalling approximately
4.1 million square metres in size, the development is expected
to comprise high-end residential and commercial developments
including 3,640 mid-rise apartments, 120 golf villas, a 300-room
luxury hotel with serviced residences and luxury villas, as
well as a 300-room business hotel. In addition, the development
will feature a shopping mall, a medical centre, two international
schools, a 1.45-million-square-metre public park and an 18-hole
signature golf course and clubhouse. The project will be carried
out in phases over a seven- to ten-year period and undertaken
by a joint venture company, Berjaya Oyia Development Limited,
which has an initial capital of approximately US$8.3 million.
BCayman will hold a 60% stake in the joint venture while Oyia
will hold the remaining 40% stake. |
|
| |
| |
|
| Japan’s
Hotel Okura Company (Okura) is planning to increase the number
of hotels it operates from the current 23 to 50 by 2018, with
the majority of the new developments in Asia. Okura is looking
to increase its portfolio to 30 properties totalling approximately
10,000 rooms in the next three to five years and 50 properties
totalling 15,000 rooms by 2018. In terms of its development
strategy, Okura will be focussing on managing the properties
instead of building or acquiring them. Currently, Okura operates
17 hotels in Japan and six locations overseas, totalling approximately
7,350 guestrooms. |
|
| |
|
|
|
| The
cancellation of the season’s first incoming chartered
flight to Goa, Western India, has led to fears of decline in
businesses, especially amidst the recent terrorist bombings
in Ahmedabad and Delhi, India. The cancelled flight, from Moscow,
was originally scheduled to land in Dabolim Airport, Goa, on
September 27 to mark the start of the October–March tourist
season. Industry experts have warned of a 10% to 15% decline
in arrivals for this season. Goa, known for its pristine beaches,
typically attracts 400,000 arrivals a year, with the majority
arriving through chartered flights. In 2007, 170,000 visitors
were recorded from the 710 chartered flights which arrived in
Goa. |
|
| |
| |
|
| The
Hong Kong Tourism Board is facing the prospect of not meeting
its target arrivals of 30.40 million for 2008 due to a decline
of 80,000 arrivals recorded in August 2008 as compared to the
same period last year. According to preliminary figures, approximately
2.68 million arrivals were recorded in August, representing
a 2.88% decline from 2007 figures. For the first eight months
of 2008, a total of 19.57 million visitors were recorded and
a further 10.83 million visitors are needed in order to meet
the arrivals target. Some of the reasons cited for the decline
were the global economic downturn, mainland China visa restrictions
imposed during the Olympics and the recent typhoon. In 2007,
there were 9.93 million arrivals recorded during the same four-month
period between September and December. |
|
| |
|
Absolute
Share Price Performance, as at 19 September 2008 |
| |
|
Closing Share Price as at |
September
19 2008 |
September
12 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.55 |
4.67 |
-3% |
| General
Property Group |
1.90 |
1.94 |
-2% |
| Mirvac
Group |
2.90 |
2.88 |
1% |
| Ocean
Capital Limited |
0.40 |
0.40 |
– |
| Thakral
Holdings Group |
0.77 |
0.75 |
2% |
| Living
and Leisure Australia Group |
0.03 |
0.04 |
-17% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
5.00 |
5.10 |
-2% |
| Dusit
Thani Public Co Ltd |
36.00 |
39.50 |
-9% |
| The
Erawan Group Public Limited |
3.18 |
3.40 |
-6% |
| Grande
Asset Development |
3.06 |
3.36 |
-9% |
| Laguna
Resorts & Hotel Public Co Ltd |
36.25 |
38.75 |
-6% |
| Minor
International PCL |
11.50 |
12.30 |
-7% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
8.88 |
9.45 |
-6% |
| Regal
Hotels International Holdings Ltd |
0.22 |
0.24 |
-10% |
| Sino
Hotels Holdings Ltd |
3.53 |
3.55 |
-1% |
| The
Hong Kong & Shanghai Hotels Ltd |
9.32 |
10.20 |
-9% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.32 |
0.32 |
– |
| ART
Management Pte Ltd |
0.76 |
0.72 |
6% |
| Banyan
Tree Holdings Limited |
1.06 |
1.01 |
5% |
| CDL
HTrust |
1.13 |
1.16 |
-3% |
| Hotel
Grand Central Ltd |
0.74 |
0.81 |
-9% |
| Hotel
Plaza Ltd |
1.46 |
1.41 |
4% |
| Hotel
Properties Ltd |
1.39 |
1.65 |
-16% |
| Mandarin
Oriental International Ltd (US$) |
1.68 |
1.79 |
-6% |
| Shangri-La
Asia Ltd |
11.48 |
13.86 |
-17% |
| Stamford
Land |
0.41 |
0.41 |
– |
|
| |
|
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. |
