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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 27
February 2009 |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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CHIS
To Feature Outlook on Regional and Chinese Provincial Economies
And The Current Global Recession |
Return
to Headlines |
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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
HVS
Tel: +65 62934415 Ext. 17
Fax: +65 62935426
Email: [email protected] or [email protected] |
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Absolute
Share Price Performance, as at 27 February 2009 |
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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% |
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Return to Headlines |
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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. |
