Sign
up to automatically receive HVS mailings |
|
|
Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 5
September 2008 |
|
|
|
|
|
|
|
Thai
hotel group, Centara Hotels and Resorts (Centara), is developing
the four-star Centara Grand Island Resort and Spa in the Maldives,
its first property outside of Thailand. The US$49 million development
is scheduled to commence operations in the middle of 2009 and
its facilities include the signature Spa Cenvaree and a new
kids' club concept featuring a Kid's Camp and E-zone.
The hotel will be Centara's 14th property and it is looking
to expand to 25 properties by 2010. |
|
|
|
|
Carlson
Hotels Worldwide – Asia Pacific (Carlson) has signed an
agreement with the Philippines' SM Investments Corporation
to manage its 400-key Radisson Hotel Cebu in Cebu, the Philippines.
The US$60 million development is located close to Cebu's
central business district and is expected to open in early 2009.
In addition, Carlson has earlier come into an agreement with
SM Investments Corporation to manage the 80-key Regent Manila
Bay and 500-room Radisson Manila Bay, both located at the Mall
of Asia Complex in Pasay City, Manila. The US$51 million mixed-use
development is likely to open in 2010. |
|
|
|
|
Singapore
was ranked as the world's top international city for meetings
in 2007 by the Union of International Associations (UIA). Improving
from its third position in 2006, Singapore was also Asia's
top meetings city for the 25th consecutive year. In 2007, business
travel and MICE visitors accounted for more than US$3.5 billion
or approximately 40% of total tourism receipts, reflecting a
25% increase from 2006. Despite the positive results, Singapore's
Senior Minister of State for Trade and Industry, Mr S Iswaran,
has cautioned that Singapore's business travel and MICE industries
are likely to face certain short-term challenges amidst the
uncertain global economy and financial markets and appropriate
initiatives will be introduced to support and tap into the potential
future growth of the industry. |
|
|
|
|
Fairmont
Hotels and Resorts (Fairmont) is partnering with MMVL Hotels
Private Limited, a subsidiary of India's Maheshwari Group, to
develop a hotel in Hyderabad, the capital city of Andhra Pradesh,
India. Scheduled to open in 2010, the Fairmont Hyderabad is
expected to feature 350 keys and public facilities including
an 800-seat ballroom and a Willow Stream Spa. The hotel has
an excellent location near the growing business development
area of the city, known as 'Cyberabad', a modern information
technology and biotechnology hub. |
|
|
|
|
Australia's
Becton Investment Management Limited (Becton) has confirmed
the exchange of contracts for the sale of the Crowne Plaza Hotel
in Newcastle, New South Wales, Australia for approximately US$40
million. The sale of the 175-key hotel, which is held under
the Newcastle Harbourfront Hotel Trust, is expected to reflect
an initial yield of 8% and an annualised return of 11% over
a seven-year period for the investors. The sale is subject to
the approval of the investors of the trust who will vote in
a special meeting on 8 September 2008. |
|
|
|
|
Experts
in Thailand have warned that the current political crisis may
damage vital tourism trade as exemplified by the closure of
three airports in Phuket, Krabi and Hat Yai. Tourism in Thailand
registered approximately US$21 billion in 2007 or about 6.5%
of Thailand's GDP; hence, a slowdown in tourism may affect the
economy on the whole. On the other hand, despite the closure
of the Phuket International Airport for two days, real estate
professionals on the island claim that their business is unlikely
to be affected because foreign investors understand Thailand's
political situation. According to these professionals, foreign
investors are still confident about the fundamentals of the
Thai economy in general. |
|
|
|
Absolute Share Price Performance, as at
5 September 2008
|
|
Closing Share Price as at |
September
5 2008 |
August
29 2008 |
%
Change |
Australia
Stock Exchange (ASX) |
Amalgamated
Holdings |
4.80 |
4.70 |
2% |
General
Property Group |
1.79 |
1.74 |
3% |
Mirvac
Group |
2.92 |
2.89 |
1% |
Ocean
Capital Limited |
0.42 |
0.42 |
– |
Thakral
Holdings Group |
0.735 |
0.75 |
-2% |
Living
and Leisure Australia Group |
0.038 |
0.05 |
-16% |
Bangkok
Stock Exchange (THB) |
Central
Plaza Hotel Public Co Ltd |
4.70 |
4.82 |
-2% |
Dusit
Thani Public Co Ltd |
40.00 |
36.75 |
9% |
The
Erawan Group Public Limited |
3.22 |
3.40 |
-5% |
Grande
Asset Development |
2.62 |
3.30 |
-21% |
Laguna
Resorts & Hotel Public Co Ltd |
40.00 |
40.00 |
– |
Minor
International PCL |
11.10 |
12.80 |
-13% |
Hong
Kong Stock Exchange (HK$) |
Miramar
Hotel International Ltd |
9.48 |
9.70 |
-2% |
Regal
Hotels International Holdings Ltd |
0.275 |
0.30 |
-8% |
Sino
Hotels Holdings Ltd |
3.60 |
3.60 |
– |
The
Hong Kong & Shanghai Hotels Ltd |
10.62 |
11.18 |
-5% |
Singapore
Stock Exchange (S$) |
Amara
Holdings Ltd |
0.33 |
0.34 |
-3% |
ART
Management Pte Ltd |
0.83 |
0.88 |
-6% |
Banyan
Tree Holdings Limited |
1.03 |
1.00 |
3% |
CDL
HTrust |
1.16 |
1.15 |
1% |
Hotel
Grand Central Ltd |
0.79 |
0.80 |
-1% |
Hotel
Plaza Ltd |
1.36 |
1.41 |
-4% |
Hotel
Properties Ltd |
1.71 |
1.78 |
-4% |
Mandarin
Oriental International Ltd (US$) |
1.67 |
1.76 |
-5% |
Shangri-La
Asia Ltd |
14.02 |
14.72 |
-5% |
Stamford
Land |
0.45 |
0.47 |
-4% |
|
|
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. |