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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 10 April 2009
Lotte Hotels And Resorts Opens Lotte City Hotel Mapo
Duet Group Eyes India Hospitality Assets
Central Sky Lounge Apartment Hotel To Open In Melbourne
Amanresorts Open In New Delhi
Hotels Cut Rates To Attract Guests During Canton Fair
HVS, BISU And BHI To Host 5th China Hotel Investment Summit In April 2009
Absolute Share Price Performance, As At 10 April 2009
 
Lotte Hotels And Resorts Opens Lotte City Hotel Mapo Return to Headlines
Lotte Hotels and Resorts has announced the opening of the 284-key Lotte City Hotel Mapo in Mapo, Seoul, South Korea. The business hotel is likely to feature 25-square-metre to 33-square-metre guestrooms, a food and beverage outlet, a conference room, a fitness centre, an indoor pool, a medical clinic and a spa. With four underground storeys and eight storeys above ground, the hotel is located nearby Gongdeok Station on subway Line 5 and 6, which is expected to be connected to the Incheon International Airport via the direct rail link.
 
Duet Group Eyes India Hospitality Assets Return to Headlines
The UK’s Duet Group’s US$165 million private equity fund, Duet India Hotels, has expressed interest to acquire hospitality projects from developers, such as the New Delhi-based Parsvnath Developers (Parsvnath), who are facing difficulties in financing these projects during the current economic downturn and looking to dispose their stakes in hotel projects and slow down their development plans. For instance, Parsvnath has cut back its hotel developments from the previously planned 100 hotels to 20 hotels, among which the focus is expected to be on six projects located in Hyderabad, Ahmedabad, Lucknow, Goa, Mohali and Shirdi. In addition, Unitech Limited sold its 200-key Courtyard by Marriott in Gurgaon for approximately US$50 million to Roop Madan, a high net-worth individual, to reduce its debt.
 
Central Sky Lounge Apartment Hotel To Open In Melbourne Return to Headlines
Central Sky Lounge Apartment Hotel, which is owned by Brisbane-based Central Apartments and Hotels, will open on 1 May 2009 in Melbourne, Australia. The 152-key development, which costs a total of US$45 million, is located above an old bus terminal along Therry Street. In addition to offering studio and one-bedroom apartments, the property also features a sky lounge area on its highest level and provides uninterrupted views of the Melbourne city skyline.
 
Amanresorts Open In New Delhi Return to Headlines
Offering a total of 67 keys, the Aman New Delhi has commenced operations in New Delhi, the capital of India. The resort, which is located in close proximity to landmarks such as Humayun's Tomb and Purana Qila, was designed by Australian architect, Kerry Hill. In addition to the 67 keys, the resort also features two restaurants and a spa with eight treatment rooms. Hotel rates are expected to start from US$670.
 
Hotels Cut Rates To Attract Guests During Canton Fair Return to Headlines
According to the Guangzhou Hotels Association, hotels are cutting rates by up to 20% in an effort to attract overseas guests during the 105th Canton Fair, scheduled to take place from 15 April to 7 May 2009. Currently, room rates for a five-star hotel are advertised at between approximately US$262 and US$338 with many hotels improving the quality of their services concurrently. The 105th Canton Fair, which will be held in three phases, is likely to accommodate more than 55,000 stands with a total exhibition area of up to 1.1 million square metres.
 
HVS, BISU And BHI To Host 5th China Hotel Investment Summit In April 2009
 
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FOCUS ON CHINA – ASIA’S POWERHOUSE

HVS, Beijing International Studies University (BISU) and Beijing Hospitality Institute (BHI) will be co-hosting the China Hotel Investment Summit (CHIS) for the fifth time from 22 to 24 April 2009. The Summit will be organised jointly by HVS and Phoenix Consulting, and the event will be held at Grand Hyatt Shanghai.

The Summit will witness a gathering of hospitality captains, business leaders and hotel investors from China and around the world to discuss the latest hotel investment trends and market developments in Greater China and the rest of Asia. The theme of the 2009 conference is `Focus on China – Asia’s Powerhouse’. The Summit has invited leading expert speakers and panellists, as well as organised social events for networking opportunities to be maximised.

To register as a delegate or participate as a sponsor, please visit http://www.chinahotelsummit.com.

Dates: 22–24 April 2009

Venue: Grand Hyatt Shanghai

For other information and queries, please contact:

Adeline Phua
HVS
Tel: +65 62934415 Ext 17
Fax: +65 62935426
Email: aphua@hvs.com or chis@chinahotelsummit.com

 
Absolute Share Price Performance, as at 10 April 2009
 
Closing Share Price as at 10 April 2009 3 April 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.04 3.94 3%
General Property Group 0.47 0.51 -9%
Mirvac Group 1.00 1.06 -6%
Ocean Capital Limited 0.30 0.26
Thakral Holdings Group 0.26 0.27 -2%
Living and Leisure Australia Group 0.02 0.02
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.10 3.08 1%
Dusit Thani Public Co Ltd 20.00 19.90 1%
The Erawan Group Public Limited 1.28 1.28
Grande Asset Development 1.51 1.51
Laguna Resorts & Hotel Public Co Ltd 25.00 24.50 2%
Minor International PCL 6.30 6.50 -3%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 14.40 13.52 7%
Beijing Capital Tourism Co Ltd 17.09 16.12 6%
Jinling Hotel Corporation Ltd 6.27 6.01 4%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 10.72 10.71
Guangzhou Dong Fang Hotel Co Ltd 5.45 5.49 -1%
Shenzhen Century Plaza Hotel Co Ltd 4.02 3.76 7%
NASDAQ (US$)
Home Inns & Hotels Management Inc 12.96 11.84 9%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 5.25 5.18 1%
Regal Hotels International Holdings Ltd 1.51 1.44 5%
Sino Hotels Holdings Ltd 2.50 2.50
The Hong Kong & Shanghai Hotels Ltd 5.52 5.25 5%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.23 0.22 5%
ART Management Pte Ltd 0.43 0.45 -4%
Banyan Tree Holdings Limited 0.37 0.38 -3%
CDL HTrust 0.55 0.56 -2%
Hotel Grand Central Ltd 0.52 0.52
Hotel Plaza Ltd 0.93 0.92 1%
Hotel Properties Ltd 1.00 0.99 1%
Mandarin Oriental International Ltd (US$) 0.75 0.79 -5%
Shangri-La Asia Ltd (HK$) 9.30 9.32
Stamford Land 0.25 0.25
 
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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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