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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 5 September 2008
First Centara Hotel Outside Of Thailand
Carlson To Manage SM Investments Corporation Properties In Cebu And Manila
Singapore Ranked Top City For Meetings In 2007
Fairmont To Debut In India By 2010
Australia's Becton To Negotiate Sale Of Crowne Plaza Hotel In Newcastle
Impact Of Political Crisis On Thailand's Tourism Industry
Absolute Share Price Performance, As At 5 September 2008
First Centara Hotel Outside Of Thailand Return to Headlines
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 To Manage SM Investments Corporation Properties In Cebu And Manila Return to Headlines
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 Ranked Top City For Meetings In 2007 Return to Headlines
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 To Debut In India By 2010 Return to Headlines
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 To Negotiate Sale Of Crowne Plaza Hotel In Newcastle Return to Headlines
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.
Impact Of Political Crisis On Thailand's Tourism Industry Return to Headlines
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
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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