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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 14 August 2009
Macau's Hotel Occupancy Rates Drop 12.6 Percentage Points In June 2009
Harp Soon Builds Resort In Malacca, Malaysia
Mauritius-based Naiade Resorts Announces First Half 2009 Loss
Premier Inn To Open 80 Hotels In India Within Ten Years
Sri Lanka's Aitken Spence Posts More Than 100% Increase In Net Loss
18% Growth Reported In China's Accommodation And Catering Industry
Absolute Share Price Performance, As At 14 August 2009
Macau's Hotel Occupancy Rates Drop 12.6 Percentage Points In June 2009 Return to Headlines
According to Macau's Statistics and Census Service (DSEC), average hotel occupancy rates in the city dropped by 12.6 percentage points year-on-year to 60.7% in June 2009, with four-star hotels leading at 64.5%. Amongst the 445,756 guests who stayed in local hotels and similar establishments in June 2009, 40% were mainland Chinese guests and 29.5% were Hong Kong guests. The average length of stay of hotel guests increased by 0.13 nights year-on-year to 1.52 nights during the period. In the first six months of 2009, there were approximately 18,128 available hotel rooms, an 11.7% increase compared to the same period in 2008.
Harp Soon Builds Resort In Malacca, Malaysia Return to Headlines
Harp Soon Construction Berhad has announced its plans to develop an 8.72-acre integrated resort, Bayou Lagoon Park Resort, in Malacca, Malaysia. The resort development is expected to comprise four blocks of serviced apartments, a hotel, a retail centre, a convention hall, a clubhouse and an approximately US$2.28 million water park. The serviced apartments development is expected to have a gross development value of US$71.1 million, and two blocks are scheduled to be completed by early 2012. As a developer with 30 years of experience in residential and commercial projects in the Klang Valley, the mixed-use development is the company's first venture into resort development.
Mauritius-based Naiade Resorts Announces First Half 2009 Loss Return to Headlines
Mauritius-based luxury hotel group, Naiade Resorts (Naiade), has announced a loss in the first half of 2009 amidst the global economic downturn which has affected the country's tourism sector. According to Reuters, the group said its post-tax loss for the first half of 2009 amounted to approximately US$4.6 million, compared with a net profit of US$1.8 million year-onyear. Based on an unaudited financial report from Naiade, the group's revenues increased marginally by 0.8% to US$40.5 million in the first six months of 2009.
Premier Inn To Open 80 Hotels In India Within Ten Years Return to Headlines
Hotel chain Premier Inn, which is based in the United Kingdom, has announced plans to open 80 hotels in India within the next ten years. Expecting to cost a total of US$837 million and feature 9,700 rooms, the three-star hotel chain is envisaged to expand across various cities in the country. The expansion will be carried out under a joint venture with Emaar MGF, which will provide the initial capital investment. An initial 18 hotels are scheduled to open within the next five years.
Sri Lanka's Aitken Spence Posts More Than 100% Increase In Net Loss Return to Headlines
Sri Lanka's Aitken Spence Hotel Holdings (Aitken Spence) reported a net loss of approximately US$998,000 in year-to-date June 2009, reflecting a 137% increase from the same period in 2008. Within the same period, gross revenue recorded an 8% decline from year-to-date June 2008. It was reported that the waning performance was attributed mainly to the fall in visitor arrivals in Sri Lanka and the Maldives. Currently, Aitken Spence owns or manages a total of 24 hotels and resorts in Sri Lanka, the Maldives, India and Oman, with Sri Lanka accounting for nine hotels. However, revenue from its Sri Lanka properties accounts for less than 20% of the total revenue.
18% Growth Reported In China's Accommodation And Catering Industry Return to Headlines
According to the Chinese Ministry of Industry and Information Technology, the accommodation and catering industry recorded total retail sales of approximately US$125 billion in the first half of 2009, reflecting an 18% growth when compared to the same period in 2008. Among the administrative divisions in China, developed areas such as Beijing, Guangdong, Tianjin and Zhejiang recorded the lowest growths at 13.6%, 13.3%, 9.2% and 4.5%, respectively. The central and western China provinces of Jilin, Sichuan and Inner Mongolia registered the highest growths at 24.2%, 22.5% and 21.5%, respectively.
Absolute Share Price Performance, as at 14 August 2009
Closing Share Price as at 14 August 2009 7 August 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.30 4.82 10%
General Property Group 0.57 0.54 7%
Mirvac Group 1.29 1.18 9%
Ocean Capital Limited 0.40 0.37 8%
Thakral Holdings Group 0.25 0.24 6%
Living and Leisure Australia Group 0.03 0.03
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.34 3.12 7%
Dusit Thani Public Co Ltd 27.00 26.50 2%
The Erawan Group Public Co Ltd 1.79 1.80 -1%
Grande Asset Hotels and Property Public Co Ltd 1.40 1.40
Laguna Resorts & Hotel Public Co Ltd 29.75 26.50 12%
Minor International Public Co Ltd 9.05 8.60 5%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  22.79 22.79
Beijing Capital Tourism Co Ltd 17.66 18.15 -3%
Jinling Hotel Corporation Ltd 7.94 8.77 -9%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 7.17 7.26 -1%
Guangzhou Dong Fang Hotel Co Ltd 7.39 7.85 -6%
Shenzhen Century Plaza Hotel Co Ltd 5.11 5.49 -7%
Home Inns & Hotels Management Inc 26.53 25.24 5%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.00 7.86 2%
Regal Hotels International Holdings Ltd 2.71 2.65 2%
Sino Hotels Holdings Ltd 2.71 2.70
The Hong Kong & Shanghai Hotels Ltd 8.82 8.80
Korea Exchange (KRW)
The Shilla  17,600 17,250 2%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.38 0.37 3%
ART Management Limited 0.84 0.84 1%
Banyan Tree Holdings Limited 0.75 0.69 9%
CDL HTrust  1.08 1.15 -6%
Hotel Grand Central Ltd 0.63 0.65 -3%
Hotel Properties Ltd 2.04 1.96 4%
Mandarin Oriental International Ltd (US$) 1.38 1.33 4%
Pan Pacific Hotels Group Limited 1.45 1.46 -1%
Shangri-La Asia Limited (HK$) 12.62 12.20 3%
Stamford Land Corporation Ltd 0.37 0.36 3%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  437.00 412.00 6%
The Ambassador Hotel, Ltd  35.25 37.00 -5%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  162,500 160,500 1%
Japan Hotel and Resort Inc 152,500 151,100 1%
Imperial Hotel, Ltd  1,862 1,900 -2%
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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