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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 26 September 2008
Indonesia Seeks More Japanese Investment In Tourism Sector
Pullman Putrajaya Lakeside To Open In November 2008 In Kuala Lumpur, Malaysia
Chinese Tourists Give Taiwan Tourism 91% Approval Rating
India Targeting Japanese Tourists Through Innovative Campaign
Jumeirah To Open In Guangzhou By 2011
Six Bidders For Damodar Valley Tourismís US$85 Million Tourism Project
Absolute Share Price Performance, As At 26 September 2008
Indonesia Seeks More Japanese Investment In Tourism Sector Return to Headlines
Indonesiaís Culture and Tourism Minister, Jero Wacik, commented that the number of Japanese businessmen investing in Indonesiaís tourism sector is still relatively low compared to other sectors such as energy and infrastructure. According to Japanese Ambassador to Indonesia Kojiro Shiojiri, the total Japanese investment in Indonesia was approximately US$830 million as of May 2008.
Pullman Putrajaya Lakeside To Open In November 2008 In Kuala Lumpur, Malaysia Return to Headlines
The 283-room Pullman Putrajaya Lakeside, the former Alam Warisan, located in Precinct 5 Putrajaya, Kuala Lumpur, Malaysia is expected to be opened in phases between November 2008 and January 2009. Owned by Putrajaya Holdings and managed by Accor SA, the hotel comprises four buildings, namely the Lotus Wing, Bunga Tanjung, Jasmine Wing and Rafflesia. The Jasmine Wing and Rafflesia with a total of 165 rooms are expected to be opened by 1 November 2008, in time to meet demand for the International Water Skiing Festival which will be held between 7 to 9 November 2008 at the lake in front of the hotel. The Pullman Putrajaya Lakeside aims to target mainly the MICE segment, and attract Corporate and Government demands from Cyberjaya and Kuala Lumpur, as well as weekend Leisure demand. The hotel features 21 meeting rooms, five food and beverage outlets, and a 250-seat lakefront and open-air amphitheatre, as well as team-building facilities.
Chinese Tourists Give Taiwan Tourism 91% Approval Rating Return to Headlines
According to the Ministry of Transportation and Communications (MOTC), Chinese tourists who visited Taiwan have given an average approval rating of 91% to tourism in Taiwan. Since the inauguration of the direct cross-strait charter flights on 4 July 2008, a total of 540 Chinese tourist groups or 14,190 Chinese tourists visited Taiwan. The cross-Taiwan Strait charter flights programme, which was formerly launched on 18 July 2008, sold approximately 150,000 seats out of the 170,000 seats offered by carriers from both sides. MOTC commented that further programmes, including the increase in number of passenger charter flights, the opening of direct cross-strait cargo charter flights and the arrangement of new flight routes, are expected to be put in place upon discussion between officials, carrier representatives and travel agency operators from both sides.
India Targeting Japanese Tourists Through Innovative Campaign Return to Headlines
India has launched an innovative marketing campaign in Japan, one of Indiaís leading and fast growing markets for inbound tourism, through ten Velo taxi drivers who will be dressed in Incredible India T-shirts and Rajasthani turbans. The ecologically friendly Velo taxis were chosen for the campaign due to their popularity in Japan and being reminiscent of Indiaís three-wheeler rickshaws. These taxis will be on the roads for two months. An approximate 150,000 Japanese tourists are expected to visit India in 2008.
Jumeirah To Open In Guangzhou By 2011 Return to Headlines
Dubai-based Jumeirah has been appointed by GT Land Holdings Limited to manage a luxury hotel occupying the top floors of the 50-storey GT Land Plaza, Guangzhou, China. Located in the centre of New Pearl City Tian He District, the five-star luxury Jumeirah Guangzhou Hotel is likely to offer 200 rooms and is scheduled to open in 2011. In addition, the hotel is envisaged to feature a sky lobby and Jumeirahís signature Talise Wellness spa. The Jumeirah Guangzhou Hotel is Jumeirah Groupís second hotel to be signed in mainland China.
Six Bidders For Damodar Valley Tourismís US$85 Million Tourism Project Return to Headlines
A total of six bidders including FMCG major Emami and Ambuja groups have been shortlisted for a US$85 million tourism project in Maithon and Panchet, India. Other bidders for the project include international players from Australia and Malaysia. To be implemented by a joint venture between Damodar Valley Corp (DVC) and IL&FS Infrastructure Development Corp (IL&FS), the project entails the development of 200 acres of land including 19 small islands in Maithon and an amusement park in Panchet. The joint venture company is currently holding discussions before the financial bidding process commences and this is expected to be finalised before the end of 2008.
Absolute Share Price Performance, as at 26 September 2008
Closing Share Price as at September 26 2008 September 19 2008 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.65 4.55 2%
General Property Group 1.99 1.90 5%
Mirvac Group 2.67 2.90 -8%
Ocean Capital Limited 0.40 0.40
Thakral Holdings Group 0.77 0.77
Living and Leisure Australia Group 0.03 0.03 -10%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 4.96 5.00 -1%
Dusit Thani Public Co Ltd 32.00 36.00 -11%
The Erawan Group Public Limited 3.14 3.18 -1%
Grande Asset Development 3.20 3.06 5%
Laguna Resorts & Hotel Public Co Ltd 34.00 36.25 -6%
Minor International PCL 11.30 11.50 -2%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 8.50 8.88 -4%
Regal Hotels International Holdings Ltd 0.22 0.22 -1%
Sino Hotels Holdings Ltd 3.55 3.53 1%
The Hong Kong & Shanghai Hotels Ltd 8.08 9.32 -13%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.30 0.32 -6%
ART Management Pte Ltd 0.72 0.76 -5%
Banyan Tree Holdings Limited 0.88 1.06 -17%
CDL HTrust 0.94 1.13 -17%
Hotel Grand Central Ltd 0.72 0.74 -3%
Hotel Plaza Ltd 1.35 1.46 -8%
Hotel Properties Ltd 1.41 1.39 1%
Mandarin Oriental International Ltd (US$) 1.57 1.68 -7%
Shangri-La Asia Ltd 11.02 11.48 -4%
Stamford Land 0.39 0.41 -5%
Return to Headlines
HVS Beijing
David Ling
HVS Hong Kong
Mark Keith & David Ling
HVS Mumbai
Manav Thadani
HVS New Delhi
Manav Thadani
HVS Shanghai
David Ling
HVS Singapore
David Ling
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.
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