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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 30 January 2009
China Records US$169.5 Billion In Tourism Revenue In 2008
Dubai’s Jumeirah Hotels and Resorts To Delay Opening Of First China Hotel
Perth To Implement Conversion Plans To Alleviate Hotel Room Shortage
Star City Casino Gains Conditional Approval For Redevelopment
Nepal Looking To Welcome One Million Tourists By 2011
5th Hotel Investment Conference South Asia - HICSA 2009
Absolute Share Price Performance, As At 30 January 2009
China Records US$169.5 Billion In Tourism Revenue In 2008 Return to Headlines
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.
Dubai’s Jumeirah Hotels and Resorts To Delay Opening Of First China Hotel Return to Headlines
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.
Perth To Implement Conversion Plans To Alleviate Hotel Room Shortage Return to Headlines
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.
Star City Casino Gains Conditional Approval For Redevelopment Return to Headlines
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.
Nepal Looking To Welcome One Million Tourists By 2011 Return to Headlines
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.
5th Hotel Investment Conference South Asia - HICSA 2009 Return to Headlines
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  |  Speakers  |  Registration  |  Accommodation  |  Partners

Absolute Share Price Performance, as at 30 January 2009
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
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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