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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 16 January 2009
Walt Disney To Submit Plans For US$3.59 Billion Shanghai Theme Park
Indian Visitors To Malaysia Increase By 30% In 2008
Japan Post’s Sale Of Hotels To Orix Not Likely To Be Approved
MGM Mirage Welcomes Casino Development In Taiwan
Vietnam Targets Six Million International Arrivals In 2009
New Highlights for CHIS – Part I
Absolute Share Price Performance, As At 16 January 2009
Walt Disney To Submit Plans For US$3.59 Billion Shanghai Theme Park Return to Headlines
Walt Disney Company (Disney) has announced its partnership with the Shanghai municipal government to develop Shanghai Disneyland, its fourth Disney theme park outside the United States, following Paris, Tokyo and Hong Kong. Disney is expected to hold 43% equity stake in Shanghai Disneyland while the remaining stake will be held by a joint venture holding company owned by the local government. Located nearby Shanghai Pudong International Airport and scheduled to open in 2014, the first phase of the project is estimated to cost approximately US$3.59 billion, including a theme park, hotel and shopping district. According to Disney, development plans of the theme park will be submitted to the central government for approval.
Indian Visitors To Malaysia Increase By 30% In 2008 Return to Headlines
Malaysia has become an increasingly popular tourist destination for Indians with approximately 550,738 Indian tourists visiting the country in 2008, a 30% increase compared to 2007. The Indian market is expected to become an essential tourism source market for Malaysia with continual promotional activities and advertising focussing on India. In 2008, Malaysia registered approximately 22.05 million visitor arrivals, about 5% higher than the previous year, with December being the month throughout the year with the highest arrivals.
Japan Post’s Sale Of Hotels To Orix Not Likely To Be Approved Return to Headlines
The Japanese authorities have announced that they are unlikely to approve Japan Post Holdings Co’s (Japan Post) decision to sell its 70 hotels to leasing company, Orix Corporation (Orix). The current weakened economic conditions and integrity of the sale were the main reasons cited for the decision. Under the laws governing privatisation, Japan Post is required to divest or close its ‘Kampo no Yado’ hotels by September 2012, five years after its privatisation process. Initially, Japan Post had planned to set up a company to take over the hotels by April 2009 before divesting them to Orix.
MGM Mirage Welcomes Casino Development In Taiwan Return to Headlines
MGM Mirage Group (MGM Mirage), one of the world’s leading entertainment companies, has welcomed Taiwan’s move to allow casino developments in the outlying islands of Penghu off its west coast. However, MGM Mirage declined to comment if they are contemplating investments in these casino developments. According to MGM Mirage, the key factor determining the success of such developments lies in whether they are able to attract demand, and the relevant governing regulations also play significant roles. In January 2009, the Taiwanese authorities had passed an amendment permitting the operation of casinos in its outlying islands and legalising casino gambling.
Vietnam Targets Six Million International Arrivals In 2009 Return to Headlines
According to the Vietnamese tourism authorities, Vietnam is targeting a total of six million international visitors and 23.5 million domestic visitors for 2009. Although Vietnam failed to achieve its target of 4.5 million international visitors for 2008, it is planning a series of initiatives, which includes offering a 30% to 50% discount on flights and accommodation till September 2009 and special tourist events held nationwide, in a bid to stimulate travel demand.
New Highlights for CHIS – Part I Return to Headlines

Learn From the Industry Experts – Post-Crisis Financing

Given the recent turn of global events, financing for hotel investments and developments has been transformed. The changing landscape will require an understanding of new financing structures and approaches going forward, to underwrite your investments.

  • Post-crisis financing environment
  • Financing structures, looking ahead
  • New players, who are they?
  • Alternative sources of finance?
  • Underwriting a loan – what are the new requirements?
  • Financing solutions for your deals

The Hotel Finance Series will be led by distinguished hotel finance specialist, Allen Toman, Professor at Institut de Management Hôtelier International (IMHI), ESSEC Business School.

Mr Toman has extensive experience in the field of hotel real estate finance, financial analysis, valuation, corporate finance and asset management. He has been an instructor at reputed institutions including Ecole Hôtelière de Lausanne, Cornell University and New York University. Mr Toman has also held senior real estate and hospitality positions for a number of national and international firms including: Prudential Real Estate; KPMG Peat Marwick; Coopers & Lybrand; Carley Capital Partners; and Pannell Kerr Forster.

Absolute Share Price Performance, as at 16 January 2009
Closing Share Price as at 16 January 2009 9 January 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.60 4.60
General Property Group 0.85 0.91 -7%
Mirvac Group 1.35 1.32 2%
Ocean Capital Limited 0.30 0.30
Thakral Holdings Group 0.45 0.44 2%
Living and Leisure Australia Group 0.03 0.03
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.20 3.24 -1%
Dusit Thani Public Co Ltd 19.90 20.00 -1%
The Erawan Group Public Limited 1.26 1.39 -9%
Grande Asset Development 2.18 2.18
Laguna Resorts & Hotel Public Co Ltd 24.50 25.75 -5%
Minor International PCL 7.85 7.95 -1%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 5.11 5.61 -9%
Regal Hotels International Holdings Ltd 1.90 2.13 -11%
Sino Hotels Holdings Ltd 2.78 2.90 -4%
The Hong Kong & Shanghai Hotels Ltd 5.96 6.73 -11%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.23 0.23
ART Management Pte Ltd 0.54 0.58 -6%
Banyan Tree Holdings Limited 0.45 0.50 -10%
CDL HTrust 0.65 0.72 -9%
Hotel Grand Central Ltd 0.51 0.55 -7%
Hotel Plaza Ltd 1.10 1.10
Hotel Properties Ltd 1.09 1.15 -5%
Mandarin Oriental International Ltd (US$) 0.91 0.99 -8%
Shangri-La Asia Ltd 9.00 9.30 -3%
Stamford Land 0.25 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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