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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 10 July 2009 |
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Upon the revision of the new regulation in South Korea to
allow hospitals to directly seek foreign patients in May
2009, the country witnessed the number of foreigners who
visited South Korea for medical treatment increase by around
40% to 1,061, compared to the previous year. South Korea
plans to tap on its potential as a medical tourism
destination by marketing its accessibility and low cost and
expects the number of foreign patients to increase by
fourfold to 200,000 by 2013. However, the nation is
anticipated to face competition from established medical
tourism destinations such as Thailand and Singapore, as well
as players such as India, Malaysia and the Philippines. |
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Sri Lanka's Aitken Spence group has announced the upgrading of
Neptune Hotel, the oldest hotel in its portfolio, to the
group's premium brand ‘Heritance' which aims to reflect the
history of an individual hotel and the country it is located
in. Built in 1973—76, the Neptune Hotel is currently closed
for refurbishment and will be rebranded to Heritance
Mahagedera hotel. The hotel is expected to be refurbished to
modern quality standards while being aesthetically and
spiritually Sri Lankan. |
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Thailand's The Unique Collection of Hotels and Resorts
(Unique) is expected to manage three new boutique hotels in
Khon Kaen, Krabi and Phuket, Thailand by 2010. Currently,
Unique is also negotiating management contracts with two or
three hotels in China. Additionally, the group has recently
established a subsidiary called Variety which aims to offer
management services to run-of-the-mill hotels and is
expected to take on at least four or five management
contracts in the first year. At present, the group manages
ten hotels and resorts in Chiang Mai, Hua Hin, Pattaya, Koh
Samui, Trang, Sukhothai and Krabi. |
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Hotel Properties Limited (HPL) is planning to expand its hotel
portfolio in Sabah, East Malaysia, by acquiring distressed
assets. The company is targeting boutique hotels which offer
gross operating profit (GOP) above 40%. Currently, the GOP
levels for HPL's Casa Del Mar in Langkawi and Concorde Kuala
Lumpur are 38% and 25%, respectively. HPL is also
considering setting up a Hard Rock Cafe in Kota Kinabalu and
a resort on Sipadan Island. |
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Hamilton City Council has forecast that the city, New
Zealand's fourth largest city, is likely to require two
high-end hotels to cater for its new Claudelands Events
Centre. The authorities have recommended four sites, namely
Garden Place, Sonning car park, a site behind Artspost and a
riverside site on Victoria Street opposite Collingwood
Street, for the developments. Claudelands Events Centre is
expected to be operational by 2011 and authorities have
forecast that there is demand for an additional 300 beds in
the high-end hotel segment. This is equivalent to a huge
hotel which is likely to translate to two 150-bed
establishments. |
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Tourism in Xinjiang Province, northwest China, has been
affected greatly by the riots in its capital, Urumqi. The
regional tourism bureau has issued travel warnings to travel
agencies on travelling to sensitive areas. Travel agencies
have seen their bookings for tours into Xinjiang plummet and
they expect business to be adversely impacted till at least
August. Similarly, airline companies are bracing themselves
for a low season for travelling to the affected areas. |
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Absolute Share Price Performance, as at
10 July 2009
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Closing Share Price as at |
10 July 2009 |
3 July 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings Limited |
4.35 |
4.30 |
– |
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General Property Group |
0.51 |
0.51 |
1% |
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Mirvac Group |
1.10 |
1.07 |
3% |
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Ocean Capital Limited |
0.32 |
0.30 |
– |
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Thakral Holdings Group |
0.24 |
0.24 |
2% |
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Living and Leisure Australia Group |
0.02 |
0.02 |
6% |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
2.98 |
3.00 |
-1% |
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Dusit Thani Public Co Ltd |
26.50 |
26.00 |
2% |
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The Erawan Group Public Co Ltd |
1.69 |
1.72 |
-2% |
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Grande Asset Hotels and Property Public Co Ltd |
1.53 |
1.53 |
– |
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Laguna Resorts & Hotel Public Co Ltd |
25.00 |
25.25 |
-1% |
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Minor International Public Co Ltd |
7.40 |
7.80 |
-5% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
19.36 |
18.78 |
3% |
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Beijing Capital Tourism Co Ltd |
17.20 |
16.18 |
6% |
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Jinling Hotel Corporation Ltd |
7.74 |
7.43 |
4% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
7.35 |
6.85 |
7% |
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Guangzhou Dong Fang Hotel Co Ltd |
8.57 |
8.18 |
5% |
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Shenzhen Century Plaza Hotel Co Ltd |
6.07 |
5.92 |
3% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
13.84 |
15.05 |
-8% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel & Investment Co Ltd |
7.27 |
7.43 |
-2% |
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Regal Hotels International Holdings Ltd |
1.90 |
1.96 |
-3% |
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Sino Hotels Holdings Ltd |
2.50 |
2.50 |
– |
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The Hong Kong & Shanghai Hotels Ltd |
7.75 |
7.78 |
– |
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Korea Exchange (KRW) |
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The Shilla |
15,850 |
16,600 |
-5% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.30 |
0.28 |
7% |
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ART Management Limited |
0.68 |
0.70 |
-3% |
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Banyan Tree Holdings Limited |
0.55 |
0.60 |
-8% |
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CDL HTrust |
0.84 |
0.89 |
-6% |
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Hotel Grand Central Ltd |
0.58 |
0.56 |
4% |
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Hotel Properties Ltd |
1.53 |
1.60 |
-4% |
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Mandarin Oriental International Ltd (US$) |
1.24 |
1.37 |
-9% |
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Pan Pacific Hotels Group Limited |
1.23 |
1.20 |
3% |
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Shangri-La Asia Limited (HK$) |
10.90 |
11.28 |
-3% |
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Stamford Land Corporation Ltd |
0.31 |
0.31 |
– |
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Taiwan Stock Exchange (NT$) |
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Formosa International Hotels Corporation |
485.00 |
472.00 |
3% |
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The Ambassador Hotel, Ltd |
39.05 |
40.00 |
-2% |
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Tokyo Stock Exchange (JPY) |
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Nippon Hotel Fund Investment Corporation |
153,900 |
163,700 |
-6% |
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Japan Hotel and Resort Inc |
151,200 |
186,000 |
-19% |
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Imperial Hotel, Ltd |
1,925 |
2,045 |
-6% |
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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. |
