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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 23
January 2009 |
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| Despite
the global financial recession, mainland Chinese outbound travel
has increased during the 2009 Lunar New Year festive period,
attributed mainly to the appreciation of the Chinese yuan which
resulted in lower hotel and flight prices, discounted tour packages
and luxury shopping deals in destinations such as the United
States, Europe, Australia and Japan. According to China National
Tourism Administration (CNTA), 46 million mainland Chinese tourists
travelled overseas in 2008, a 12% increase compared to 2007.
In spite of the current recession, CNTA forecast that outbound
travel would increase by 9% to 50 million tourists in 2009 as
consumers reach out for more cost-effective travel and family
tours. Based on a survey carried out by Nielson Company and
Pacific Asia Travel Association (PATA), mainland Chinese travellers
spend an average of US$1,359 per luxury good in Europe, the
highest amount across all destinations. |
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| Mandarin
Oriental International and Shun Tak Holdings have agreed to
divest their respective 50% interest in the 416-room Mandarin
Oriental, Macau, to Sociedade de Turismo e Diversoes de Macau
(STDM) for approximately US$206 million. As part of the deal,
the two sellers will have the right to share any incremental
value if the property is redeveloped or sold to a third party
in the future. The transaction will also end Mandarin Oriental’s
management of the 25-year-old hotel as STDM is looking to rebrand
the hotel. A transition agreement will allow Mandarin Oriental
to operate the hotel for up to two years from completion of
the deal, which is scheduled for 31 May 2009. |
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| Despite
the global economic slowdown, leading global hotel operators
such as Marriott International (Marriott), Global Hyatt Corporation
(Hyatt) and Carlson Hotels (Carlson) are set to continue their
expansion plans in India. Marriott is scheduled to add seven
new hotels in 2009 and targeting a total of 14 hotels by 2012.
Hyatt, which currently has six operational hotels in India,
plans to add 20 new hotels including its new brand, Hyatt Place,
by 2013. Six of the new Hyatt Place hotels are likely to be
completed by 2011 in a joint venture with Emaar MGF. Similarly,
Carlson is looking to add 50 properties totalling approximately
6,000 rooms to its India portfolio by 2011. |
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| Total
tourist arrivals in Cambodia recorded 2.15 million in 2008,
reflecting a 7.5% growth from the two million in 2007. 2008
was also the first time that the growth in tourist arrivals
has been lower than 18% since 2003. According to the Cambodian
tourism authorities, tourist arrivals were up by 10–11%
percent in the first half of 2008 but declined significantly
to grow by 3% in the second half of the year after the Thailand
political crisis and global financial crisis hit. The authorities
are forecasting a 5–7% growth in tourist arrivals for
2009. |
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Queenstown
Lakes, New Zealand Accommodation Statistics Reflect Tourism
Decline |
Return
to Headlines |
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| Visitor
arrivals to Queenstown Lakes, New Zealand recorded a 5% decline
from 113,804 arrivals in November 2007 to 95,432 arrivals in
November 2008. Despite the falling arrival numbers since April
2008, the hotel room supply increased by 5.2% in 2008 with accommodation
arrivals dropping by 16.1% in November 2008. The increase in
hotel rooms was due mainly to the surge in visitor accommodation
in mid-2007 which drove investors to buy into individual hotel
rooms under the strata schemes, whereby the hotel rooms were
in turn managed for a return. According to the Motel Association,
the motels in areas such as Southland were not as affected as
the hotel segment. However, motels at tourist spots like Queenstown
and Rotorua witnessed a reduction in tour groups. |
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Learn
From the Industry Experts – Asset Management
Asset management is the cornerstone to realising the potential
of your hotel investments. It requires an appreciation and
understanding of your hotel real estate, the operational dynamics,
aspects that drive revenue, profit margin and your investment
value.
- Revenue drivers
- Effective cost management
- Selecting your hotel operator and management team
- Sales and marketing programme
- Talent retention
- Driving the bottom-line
- Asset enhancement measures
The Asset Management Series will be led by Michel van der
Hoeven, Senior Vice President – Development of Minor
International PCL, the largest publicly traded hospitality
company in Thailand. Mr van der Hoeven is no stranger to hotel
and resort development in Asia. He has been with both Minor
and Six Senses previously, responsible for managing luxury
resorts and hotels in Singapore, Thailand and Vietnam. Prior
to re-joining Minor, Mr van der Hoeven was regional director
and shareholder of holistic resort operator Sanctuary Resorts
for which he was instrumental in developing their resorts
in Bali, Cambodia and Thailand.
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: [email protected] or
[email protected]
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Absolute
Share Price Performance, as at 23 January 2009 |
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Closing Share Price as at |
23
January 2009 |
16
January 2009 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.65 |
4.60 |
1% |
| General
Property Group |
0.74 |
0.85 |
-12% |
| Mirvac
Group |
1.19 |
1.35 |
-12% |
| Ocean
Capital Limited |
0.30 |
0.30 |
– |
| Thakral
Holdings Group |
0.47 |
0.45 |
3% |
| Living
and Leisure Australia Group |
0.02 |
0.03 |
-8% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
3.12 |
3.20 |
-3% |
| Dusit
Thani Public Co Ltd |
19.10 |
19.90 |
-4% |
| The
Erawan Group Public Limited |
1.23 |
1.26 |
-2% |
| Grande
Asset Development |
2.18 |
2.18 |
– |
| Laguna
Resorts & Hotel Public Co Ltd |
25.00 |
24.50 |
2% |
| Minor
International PCL |
7.35 |
7.85 |
-6% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
5.28 |
5.11 |
3% |
| Regal
Hotels International Holdings Ltd |
1.88 |
1.90 |
-1% |
| Sino
Hotels Holdings Ltd |
2.65 |
2.78 |
-5% |
| The
Hong Kong & Shanghai Hotels Ltd |
5.81 |
5.96 |
-3% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.20 |
0.23 |
-13% |
| ART
Management Pte Ltd |
0.53 |
0.54 |
-2% |
| Banyan
Tree Holdings Limited |
0.47 |
0.45 |
4% |
| CDL
HTrust |
0.64 |
0.65 |
-2% |
| Hotel
Grand Central Ltd |
0.52 |
0.51 |
2% |
| Hotel
Plaza Ltd |
1.00 |
1.10 |
-9% |
| Hotel
Properties Ltd |
1.05 |
1.09 |
-4% |
| Mandarin
Oriental International Ltd (US$) |
0.80 |
0.91 |
-12% |
| Shangri-La
Asia Ltd |
8.62 |
9.00 |
-4% |
| Stamford
Land |
0.25 |
0.25 |
– |
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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. |
