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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 30
January 2009 |
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| According
to China National Tourism Administration (CNTA), China recorded
a total tourism revenue of approximately US$169.5 billion in
2008, a 5.8% year-on-year increase. This tourism revenue includes
US$127.9 billion generated from domestic travellers and US$41.6
billion from international travellers, compared to US$113.6
billion and US$45.8 billion, respectively, in 2007. The figures
revealed that domestic tourism is still sustainable while inbound
tourism has declined amid the global economic downturn. In 2008,
China welcomed approximately 130 million inbound travellers,
including those from Hong Kong, Macau and Taiwan, a 1.4% drop
compared to 2007. Despite the global economic crisis, China’s
outbound tourism improved to 45.8 million outbound tours in
2008, an 11.9% increase compared to 2007, due mainly to the
yuan appreciation of the Chinese yuan which increased Chinese
citizens’ purchasing power. |
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| Dubai’s
Jumeirah Hotels and Resorts has announced plans to delay the
opening of its first hotel in China due to the slowdown in the
global economy which has weaken demand for travel. Initially
planned to open in late 2008, the 338-key Jumeirah Han Tang
Xintiandi Hotel, which is located in downtown Shanghai, has
been rescheduled to open in late 2009. The Jumeirah Han Tang
Xintiandi Hotel is jointly owned by Leo Investment, a real estate-focussed
investment firm which is the controlling stakeholder of the
project, and Hong Kong’s Shui On Group, which holds the
remaining 15% stake in the project. |
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| Tourism
Western Australia has identified 24 office buildings for potential
conversion to hotels to ease the room shortage in the city.
Despite the global financial crisis, Perth’s hotel occupancy
only declined two percentage points to 82% in 2008 as compared
to 2007 and up to 300 rooms are needed annually. However, the
authorities are of the opinion that average room rates need
to increase by approximately 30% from the current US$100 before
office owners will consider conversion. Presently, the cost
of building a five-star hotel is between US$243,000 and US$329,000
per room while refurbishment of an existing building is approximately
30% to 50% cheaper. |
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| Sydney’s
Star City Casino has been granted conditional planning approval
for its US$318 million redevelopment and expansion plans. The
project includes reorienting the property towards Sydney Harbour,
the addition of a new 250-room five-star hotel, and 30 new food
and beverage outlets, expansion of a ballroom and refurbishment
of the main gaming floor. |
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| Nepal
Tourism Year (NTY) 2011 is targeting one million international
visitors by 2011 and will be focussing on improving the country’s
infrastructure such as hotels and airport to achieve its target.
The Tribhuwan International Airport is likely to undergo a series
of improvement works which includes extending to its ground
support equipment parking area and implementing the Common Users
Terminal system. In addition, the Nepalese authorities will
offer free visas to international tourists who are visiting
Nepal for a second time. These initiatives are aimed at making
the NTY 2011 campaign a success and establishing Nepal as a
prime holiday destination. |
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 Mumbai
is gearing up for the biggest Hotel Investment conference of
2009. HICSA - The
Fifth Hotel Investment
Conference - South Asia (HICSA) 2009 is scheduled for
April 1st and 2nd and is to be hosted at the Grand Hyatt,
Mumbai. This year brings a special treat for the industry’s
stakeholders in the form of seventeen Global CEOs who will be
speaking across a host of pertinent subjects. HICSA 2009
continues to evolve as the epicenter of business strategy for
South Asia’s hospitality industry.Travel & Tourism have taken
a beating in India over the last few months. The 26/11 attacks
caused severe distress to the already bleeding industry in late
2008. While the resilience and grit of the industry is tested in
the months ahead, HICSA will provide the platform for discussion
and debate to the who’s who of the Hospitality world. A
confluence of Hotel owners, operators, brands, development
teams, bankers, architectural & design firms, private equity
players, consultants and other industry experts is sure to make
this 2 day event a strategic center for the formulation of the
industry’s path ahead. Notable speakers at HICSA 2009 will
include John Gabriel Peres – President & CEO, Movenpick
Hotels & Resorts, Arne Sorenson - EVP, CFO and President
of Continental European Lodging, Marriott International,
Gamal Aziz - President and Chief Executive Officer, MGM
MIRAGE Hospitality, Meinhard Huck – President, Swissotel
Hotels & Resort, Gerald F. Lawless - Executive Chairman,
Jumeirah Group, Dr. Naresh Trehan - Chairman and Managing
Director, Global Health, Thomas F. Hewitt - Chief
Executive Officer and Director, Interstate Hotels and Resorts,
Jay H Shah – CEO, Hersha Hospitality Trust and Peter
Gowers – Chief Executive, Asia Pacific, Intercontinental
Hotel Group.
HICSA 2009 is set to offer more opportunities for business
meeting and networking than ever before with the advent of
HICSA Live
Wire. This powerful online portal will give the HICSA
2009 delegates the ability to do the deals and meet the most
influential decision makers by facilitating meetings with other
delegates, speakers or sponsors via the live networking tool.
HVS will also be announcing the first ever
HICSA Hotels of
the Year Awards – 2009. These awards have been
instituted to acknowledge outstanding new hotel developments in
the last one year in the South Asia region. The awards will be
conferred upon for two main categories:
- Best Luxury / Upscale Hotel
- Best Mid Market / Budget Hotel
Some of the early nominations received are already setting
the stage for a healthy competition and the best hotel of the
year - across both categories – is certain to be an excellent
product with an exceptional service culture.
For further information, visit
www.hicsaconference.com or contact HVS India at +91 124 461
6000.
HICSA Home |
Agenda
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Speakers |
Registration
|
Accommodation |
Partners |
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Absolute
Share Price Performance, as at 30 January 2009 |
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Closing Share Price as at |
30
January 2009 |
23
January 2009 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.55 |
4.65 |
-2% |
| General
Property Group |
0.76 |
0.74 |
3% |
| Mirvac
Group |
1.15 |
1.19 |
-4% |
| Ocean
Capital Limited |
0.30 |
0.30 |
– |
| Thakral
Holdings Group |
0.46 |
0.47 |
-1% |
| Living
and Leisure Australia Group |
0.02 |
0.02 |
-13% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
3.10 |
3.12 |
-1% |
| Dusit
Thani Public Co Ltd |
19.00 |
19.10 |
-1% |
| The
Erawan Group Public Limited |
1.20 |
1.23 |
-2% |
| Grande
Asset Development |
2.18 |
2.18 |
– |
| Laguna
Resorts & Hotel Public Co Ltd |
24.30 |
25.00 |
-3% |
| Minor
International PCL |
7.20 |
7.35 |
-2% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
5.40 |
5.28 |
2% |
| Regal
Hotels International Holdings Ltd |
1.84 |
1.88 |
-2% |
| Sino
Hotels Holdings Ltd |
2.75 |
2.65 |
4% |
| The
Hong Kong & Shanghai Hotels Ltd |
5.74 |
5.81 |
-1% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.23 |
0.20 |
15% |
| ART
Management Pte Ltd |
0.56 |
0.53 |
6% |
| Banyan
Tree Holdings Limited |
0.47 |
0.47 |
– |
| CDL
HTrust |
0.65 |
0.64 |
2% |
| Hotel
Grand Central Ltd |
0.53 |
0.52 |
2% |
| Hotel
Plaza Ltd |
1.13 |
1.00 |
13% |
| Hotel
Properties Ltd |
1.06 |
1.05 |
1% |
| Mandarin
Oriental International Ltd (US$) |
0.80 |
0.80 |
– |
| Shangri-La
Asia Ltd |
8.88 |
8.62 |
3% |
| 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. |
