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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 20 February 2009 |
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The French Accor group's Sofitel Hotels (Sofitel) has
launched two new brands, namely SO by Sofitel and Sofitel Legend,
to cater to different hotel guest needs and desires. The SO
by Sofitel is positioned to be comfortable and trendy to attract
the younger age group, while Sofitel Legend is expected to be
a top luxury brand. According to market sources, Sofitel has
closed some hotels which were seen as incompatible with the
new brands. As such, Sofitel currently has 150 hotels, compared
to 206 hotels in 2007. |
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Genting International Announces Plans To Invest Another
US$386 Million In Singapore's Resorts World At Sentosa |
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Genting International has announced plans to invest another
US$386 million in Resorts World at Sentosa, increasing its investment
in the integrated resort (IR) from approximately US$3.9 billion
previously to approximately US$4.3 billion. According to Genting
International, the increased investment is expected to be supported
by future operating cashflows when the IR opens in the first
quarter of 2010. The additional investment incurred was due
mainly to changes in design and architecture of the IR to enhance
the entertainment facilities, including the casino and Universal
Studios Singapore. The IR is expected to open four hotels, the
casino, Le Vie Theatre, a 7,300-seat ballroom and Universal
Studios Singapore in the first phase. Similarly, Las Vegas Sands
Corporation's IR, Marina Bay Sands, had increased the
development budget from US$3.6 billion to US$4.5 billion. |
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Mr Stanley Yen, President of the Landis Hotels and Resorts Group,
has envisaged the demolition of Songshan Airport in the future
to make way for the development of a modern town and recreational
area akin to Tokyo Midtown and New York City's Central
Park, respectively. With the elimination of height restrictions
of buildings in the vicinity upon the demolition of the airport,
Mr Yen added that the existing structures can be integrated
and developed into skyscrapers with lush landscaping. He also
envisaged that all flight services will be concentrated at Taiwan
Taoyuan International Airport, which will be connected to downtown
Taipei by mass rapid transit (MRT) lines which are currently
under construction. This vision is aimed at taking Taiwan's
tourism industry to the next level. |
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JAL Hotels Co Ltd (JAL Hotels) has announced that Hotel Nikko
Saigon, the second Hotel Nikko in Vietnam, is scheduled to open
in Ho Chi Minh City in 2011. Envisaged to offer 335 guestrooms,
the 25-storey hotel will form part of the Royal Centre commercial
development. The hotel is expected to feature a variety of food
and beverage outlets including Japanese and Chinese, meeting
facilities, a spa and a fitness centre. According to JAL Hotels,
the hotel is positioned to serve both business and leisure travellers. |
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The global financial meltdown has adversely impacted the Indian
tourism industry. According to the Ministry of Tourism, data
of Foreign Tourist Arrivals (FTAs) revealed that during the
month of January 2009 FTAs reached 0.49 million compared to
0.59 million in January 2008 and 0.52 million in December 2008.
Foreign Exchange Earnings (FEEs) were recorded at US$941 million
during the month of January 2009 compared to US$1.4 billion
in January 2008. The slowdown in FEEs growth rate was attributed
to exchange rate variation and slower growth rate of FTAs. |
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 Mumbai
is gearing up for the biggest Hotel Investment conference of
2009. HICSA - The Fifth
Hotel Investment Conference - South Asia (HICSA) 2009
is scheduled for April 1st and 2nd and is to be hosted at the
Grand Hyatt, Mumbai. This year brings a special treat for the
industry's stakeholders in the form of seventeen Global
CEOs who will be speaking across a host of pertinent subjects.
HICSA 2009 continues to evolve as the epicenter of business
strategy for South Asia's hospitality industry.
Travel & Tourism have taken a beating in India over the
last few months. The 26/11 attacks caused severe distress
to the already bleeding industry in late 2008. While the resilience
and grit of the industry is tested in the months ahead, HICSA
will provide the platform for discussion and debate to the
who's who of the Hospitality world. A confluence of
Hotel owners, operators, brands, development teams, bankers,
architectural & design firms, private equity players,
consultants and other industry experts is sure to make this
2 day event a strategic center for the formulation of the
industry's path ahead. Notable speakers at HICSA 2009
will include John Gabriel Peres – President &
CEO, Movenpick Hotels & Resorts, Arne Sorenson
- EVP, CFO and President of Continental European Lodging,
Marriott International, Gamal Aziz - President and
Chief Executive Officer, MGM MIRAGE Hospitality, Meinhard
Huck – President, Swissotel Hotels & Resort,
Gerald F. Lawless - Executive Chairman, Jumeirah Group,
Dr. Naresh Trehan - Chairman and Managing Director,
Global Health, Thomas F. Hewitt - Chief Executive Officer
and Director, Interstate Hotels and Resorts, Jay H Shah
– CEO, Hersha Hospitality Trust and Peter Gowers
– Chief Executive, Asia Pacific, Intercontinental Hotel
Group.
HICSA 2009 is set to offer more opportunities for business
meeting and networking than ever before with the advent of
HICSA
Live Wire. This powerful online portal will give the
HICSA 2009 delegates the ability to do the deals and meet
the most influential decision makers by facilitating meetings
with other delegates, speakers or sponsors via the live networking
tool.
HVS will also be announcing the first ever HICSA
Hotels of the Year Awards – 2009. These awards
have been instituted to acknowledge outstanding new hotel
developments in the last one year in the South Asia region.
The awards will be conferred upon for two main categories:
- Best Luxury / Upscale Hotel
- Best Mid Market / Budget Hotel
Some of the early nominations received are already setting
the stage for a healthy competition and the best hotel of
the year - across both categories – is certain to be
an excellent product with an exceptional service culture.
For further information, visit
www.hicsaconference.com or contact HVS India at +91 124
461 6000.
HICSA
Home | Agenda
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Speakers | Registration
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Accommodation | Partners
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Absolute Share Price Performance, as
at 20 February 2009
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Closing Share Price as at |
20 February 2009 |
13 February 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings |
4.60 |
4.45 |
3% |
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General Property Group |
0.52 |
0.54 |
-4% |
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Mirvac Group |
0.87 |
1.01 |
-14% |
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Ocean Capital Limited |
0.30 |
0.30 |
– |
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Thakral Holdings Group |
0.40 |
0.41 |
-2% |
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Living and Leisure Australia Group |
0.02 |
0.02 |
5% |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
3.16 |
3.14 |
1% |
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Dusit Thani Public Co Ltd |
21.00 |
20.10 |
4% |
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The Erawan Group Public Limited |
1.35 |
1.32 |
2% |
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Grande Asset Development |
1.60 |
2.18 |
-27% |
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Laguna Resorts & Hotel Public Co Ltd |
24.20 |
24.30 |
– |
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Minor International PCL |
7.20 |
7.40 |
-3% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel International Ltd |
5.22 |
5.40 |
-3% |
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Regal Hotels International Holdings Ltd |
1.82 |
1.91 |
-5% |
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Sino Hotels Holdings Ltd |
2.60 |
2.75 |
-5% |
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The Hong Kong & Shanghai Hotels Ltd |
4.87 |
5.23 |
-7% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.22 |
0.23 |
-4% |
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ART Management Pte Ltd |
0.39 |
0.47 |
-17% |
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Banyan Tree Holdings Limited |
0.38 |
0.42 |
-10% |
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CDL HTrust |
0.50 |
0.55 |
-9% |
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Hotel Grand Central Ltd |
0.50 |
0.52 |
-4% |
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Hotel Plaza Ltd |
1.06 |
1.16 |
-9% |
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Hotel Properties Ltd |
0.96 |
1.04 |
-8% |
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Mandarin Oriental International Ltd (US$) |
0.80 |
0.84 |
-4% |
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Shangri-La Asia Ltd |
8.48 |
8.70 |
-3% |
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Stamford Land |
0.23 |
0.26 |
-12% |
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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. |
