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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 6 February 2009
Australia Developer Revamps Strahan Hotel Plans
Ritz-Carlton Postpones US$65 Million Hotel Project In Bintan Island, Indonesia
Vietnam’s Largest Hotel Development Breaks Ground In Hanoi
Landmark Hotel-Casino Development In Subic Bay To Open By 2011
Pullman To Take Over Management Of Shanghai Hotel
New Highlights for CHIS – Part III
Absolute Share Price Performance, As At 6 February 2009
 
Australia Developer Revamps Strahan Hotel Plans Return to Headlines
Australia’s Sid Carter, project developer for a US$20.2 million hotel located in Strahan, Tasmania, Australia, has drafted a new design for the proposed hotel after the Resource Management and Planning Appeals Tribunal upheld an appeal against the original proposal submitted by Federal Hotels, which manages the Abt Railway and tourist accommodation at Strahan. The developer is expected to lower the height of the proposed hotel from four storeys to three storeys and the hotel will be landscaped to blend into its surroundings.
 
Ritz-Carlton Postpones US$65 Million Hotel Project In Bintan Island, Indonesia Return to Headlines
As a result of the global financial crisis, The Ritz-Carlton Company (Ritz-Carlton) and Sahid Group have decided to postpone a resort and hotel development on Bintan Island, Indonesia. Ritz-Carlton had planned to develop a US$65 million five-star hotel, which includes 60 luxurious villas, in the Lagoi resort area on Bintan Island. In 2008, approximately 397,000 tourists visited Lagoi and the area is expected to welcome at least the same number of visitors in 2009.
 
Vietnam’s Largest Hotel Development Breaks Ground In Hanoi Return to Headlines
The opening ceremony for a new US$430 million mixed-use development was held on 4 February 2009 in Hanoi, Vietnam. The mixed-use development is envisaged to feature a 30-storey hotel component, a 30-storey residential block and 60,000 square metres of office space. Located in Me Tri Commune in Tu Liem District, the development sits on approximately 38,200 square metres of land area. The residential component is scheduled to be completed by end-2010 while the hotel and office building are expected to commence operations by the end of 2011.
 
Landmark Hotel-Casino Development In Subic Bay To Open By 2011 Return to Headlines
The US$120 million Ocean 9 Casino and Hotel Resort, which also features a convention centre, is scheduled to open by 2011 in the Subic Bay Freeport, the Philippines. Located near the Subic Bay’s Alava Pier, the 15-storey integrated development is designated as a critical infrastructure in Subic Bay’s efforts to attract more international investors and tourists. Subic Bay Freeport was converted into a tourism and industrial zone by the Subic Bay Metropolitan Authority (SBMA) in 1992 and its tourism attractions include the Bat Kingdom and the Subic Bay Yacht Club.
 
Pullman To Take Over Management Of Shanghai Hotel Return to Headlines
Accor, the world’s fourth largest hotel group, is converting the existing 653-key Shanghai Skyway Landis Hotel into its luxury brand, Pullman, in March 2009. It was understood that the management agreement was terminated due to low occupancy and Accor is looking to target more business guests to alleviate this problem. Located in Luwan District, this new Pullman hotel will feature more than 650 rooms. There are currently five Pullman hotels located in Beijing, Shanghai, Dongguan and Sanya in China.
 
New Highlights for CHIS – Part III Return to Headlines

Learn From the Best - HVS Academy

CHIS 2009 will bring together leading international experts who will speak on specialized hospitality real estate asset subjects the HVS academy classes will include the following:

  • Hotel Valuation – Knowing Your Asset Values
  • Golf Courses – Insights into Successful Golf Courses
  • Shared Ownership – Understanding the Business Model
  • Managing Your Human Capital
  • Environmental Sustainability Solutions for Hotels & Resorts

These specialized classes will be conducted by leading international experts in the hospitality industry and will include:

  • Steve Rushmore, President & Founder HVS Global
  • Darius Hatami, President HVS Golf Services
  • Philip Bacon, Managing Director HVS Shared Ownership Services
  • Mark Keith, Managing Director HVS Executive Search
  • John Scaggs, Director HVS Eco Services
  • David Ling, Managing Director HVS Asia Pacific
  • Greg Hartmann, Managing Director HVS Boulder

The 5th China Hotel Investment Summit is the most established and successful hotel investment conference in China, attended by over 600 industry leaders from China and 22 other countries. Please join us and attend the HVS academy and learn from the best.

Save the date and sign up today! For the registration form and more information, visit www.chinahotelsummit.com

Entering its fifth installment, CHIS is the most established and successful hotel investment conference in China. It is widely recognised as an international level event held in Shanghai annually and attended by over 600 industry leaders, owners, developers, investors, financiers and professionals from China and 22 other countries. Co-hosted by Beijing International Studies University (BISU), Beijing Hospitality Institute (BHI) and HVS, the 2009 event is expected to be an important platform for key industry players with an interest in China.

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 6 February 2009
 
Closing Share Price as at 6 February 2009 30 January 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.45 4.55 -2%
General Property Group 0.61 0.76 -20%
Mirvac Group 0.98 1.15 -14%
Ocean Capital Limited 0.30 0.30
Thakral Holdings Group 0.45 0.46 -2%
Living and Leisure Australia Group 0.02 0.02
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.12 3.10 1%
Dusit Thani Public Co Ltd 19.00 19.00
The Erawan Group Public Limited 1.24 1.20 3%
Grande Asset Development 2.18 2.18
Laguna Resorts & Hotel Public Co Ltd 24.30 24.30
Minor International PCL 7.45 7.20 3%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 5.40 5.40
Regal Hotels International Holdings Ltd 1.99 1.84 8%
Sino Hotels Holdings Ltd 2.75 2.75
The Hong Kong & Shanghai Hotels Ltd 5.27 5.74 -8%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.23 0.23
ART Management Pte Ltd 0.48 0.56 -15%
Banyan Tree Holdings Limited 0.47 0.47
CDL HTrust 0.53 0.65 -18%
Hotel Grand Central Ltd 0.54 0.53 2%
Hotel Plaza Ltd 1.06 1.13 -6%
Hotel Properties Ltd 1.09 1.06 3%
Mandarin Oriental International Ltd (US$) 0.82 0.80
Shangri-La Asia Ltd 8.32 8.88 -6%
Stamford Land 0.27 0.25
 
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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