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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 27 February 2009
Thailand Sets Aside US$6.1 Million For Tourism Operators
Japan’s Hotel Transactions Plunge In 2008
Xen Hotels And Resorts To Delay Four Projects
Accor Officially Launches Ibis Singapore
CHIS To Feature Outlook on Regional and Chinese Provincial Economies And The Current Global Recession
Absolute Share Price Performance, As At 27 February 2009
Thailand Sets Aside US$6.1 Million For Tourism Operators Return to Headlines
The government of Thailand has granted a budget of approximately US$6.1 million to assist tourism-related business operators with their financial obligations in 2009 and 2010. The provision of the budget would reduce the interest obligations of the tourism-related businesses which have debts with commercial banks and financial institutions. Accordingly, the Small Business Credit Guarantee Corporation is expected to guarantee credit risks for four tourism-related business sectors such as four-star hoteliers, restaurants, and transport and tour companies which were affected by the closure of Bangkok’s two airports in late 2008. The Tourism Authority of Thailand (TAT) had earlier forecast that around 14.5 million international visitors would visit Thailand in 2009; however, the Bank of Thailand has estimated foreign visitor arrivals to decline by 8.8% in 2009, from the 12.8 million arrivals in 2008.
Japan’s Hotel Transactions Plunge In 2008 Return to Headlines
In 2008, the value of hotel transactions in Japan plunged by 82% to approximately US$1.2 billion compared to around US$6.8 billion in 2007. The decline was expected to be sharper if the 2008 statistics did not include the sale of the Westin Tokyo to the Government of Singapore Investment Corporation (GIC) at approximately US$790 million. Hotel transactions in Japan are unlikely to recover in the first half of 2009 but might improve in the second half of 2009. Similarly, hotel transactions in the world and Asia Pacific region dropped by 79% and 77%, respectively, in 2008 compared to 2007.
Xen Hotels And Resorts To Delay Four Projects Return to Headlines
Xen Hotels and Resorts (Xen) will be postponing the development of four projects across Thailand due to the global economic slowdown. The Aetas Bangkok Hotel and the Golden Pearl Residence Sukhumvit in Bangkok will have their opening delayed till the third quarter of 2009. In addition, the construction of Samudra Retreat Hua Hin and AKA Resort Samui will be postponed till the end of 2010 and 2011, respectively. Currently, Xen manages four properties in Thailand: AKA Hua Hin, Guti Hua Hin, Xen Hideaway Kanchanaburi and Xen Suites Bangkok.
Accor Officially Launches Ibis Singapore Return to Headlines
French hospitality group, Accor, has officially launched the 538-room Ibis Singapore on Bencoolen Street, Singapore. According to Accor, Ibis Singapore, which was developed at a total cost of approximately US$93 million, has been ‘virtually full’ among its present operational 300 rooms since it was soft launched in early February. Accor mentioned that the rates for Ibis Singapore are in the region between US$93 and US$96. The group also has a second Ibis in Singapore, namely Ibis Novena, which is scheduled to commence construction in March 2009 and open by 2011.
CHIS To Feature Outlook on Regional and Chinese Provincial Economies
And The Current Global Recession
Return to Headlines
In these economic times, there is pressure to do more with less. Learning and development is a key competitive advantage that can define the difference between those companies that emerge triumphant from the economic downturn and those that do not.

At the 5th annual China Hotel Investment Summit (CHIS) 2009, attendees will have the unique opportunity to learn how leaders in the industry tackle today’s economic climate. This week we feature Mr Tony Nash, Asia Director of Economist Intelligence Unit who will be our navigator to the topic – ‘Light at the End of the Tunnel? Or are we entering the tunnel at the end of the light? An outlook on regional and Chinese provincial economies and the current global recession’.

Mr Tony Nash is responsible for custom research projects in Asia. During the course of his career, Mr Nash has built, managed or turned around telecomunications, publishing, logistics and professional services businesses in Europe, North America and Asia. He has advised some of the world’s largest companies as well as national and state- and province-level governments on economic development, international trade, industrial outlooks, market entry and investment strategies, as well as ICT for development and microfinance in Asia.

Mr Nash is the co-founder of EasySeva, a social enterprise bringing technology and financial services to consumers at the bottom of the pyramid in rural South Asia. He has been an adviser to Pacific Epoch, a Shanghai-based technology publication, as well as the research director and a regular contributor to Red Herring Magazine and venture capital editor for the AlwaysOn Network, both Silicon Valley-based technology and investment publications. His thought leadership articles have appeared in the USA, Canada, India, China, Hong Kong and Southeast Asia.

Join us at the upcoming 5th annual China Hotel Investment Summit 2009 which promises to be an insightful experience for participants.

CHIS will be held at the Grand Hyatt Shanghai from 22 to 24 April 2009.

For more information and queries, please contact:

Adeline Phua
Tel: +65 62934415 Ext. 17
Fax: +65 62935426
Email: aphua@hvs.com or chis@chinahotelsummit.com
Absolute Share Price Performance, as at 27 February 2009
Closing Share Price as at 27 February 2009 20 February 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.46 4.60 -3%
General Property Group 0.47 0.52 -10%
Mirvac Group 0.85 0.87 -2%
Ocean Capital Limited 0.30 0.30
Thakral Holdings Group 0.35 0.40 -13%
Living and Leisure Australia Group 0.03 0.02 50%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.10 3.16 -2%
Dusit Thani Public Co Ltd 20.10 21.00 -4%
The Erawan Group Public Limited 1.27 1.35 -6%
Grande Asset Development 1.60 1.60
Laguna Resorts & Hotel Public Co Ltd 23.70 24.20 -2%
Minor International PCL 7.10 7.20 -1%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 5.20 5.22
Regal Hotels International Holdings Ltd 1.71 1.82 -6%
Sino Hotels Holdings Ltd 2.60 2.60
The Hong Kong & Shanghai Hotels Ltd 4.68 4.87 -4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.22 0.22
ART Management Pte Ltd 0.36 0.39 -8%
Banyan Tree Holdings Limited 0.40 0.38 5%
CDL HTrust 0.51 0.50 3%
Hotel Grand Central Ltd 0.50 0.50
Hotel Plaza Ltd 1.04 1.06 -2%
Hotel Properties Ltd 0.89 0.96 -7%
Mandarin Oriental International Ltd (US$) 0.65 0.80 -19%
Shangri-La Asia Ltd 8.00 8.48 -6%
Stamford Land 0.21 0.23 -9%
Return to Headlines
HVS Beijing
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HVS Hong Kong
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HVS Mumbai
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HVS New Delhi
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HVS Shanghai
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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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