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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 10 July 2009
South Korea Witnesses 40% Increase In Medical Tourists After Law Revision
Sri Lanka's Aitken Spence Upgrades Oldest Hotel To New Brand
Thailand's Unique To Manage New Boutique Hotels
Hotel Properties Limited Looking To Expand In Sabah
Hamilton City Envisaged To Require Two More Hotels
Tourism Brought To A Standstill In Xinjiang Due To Riots
Absolute Share Price Performance, As At 10 July 2009
South Korea Witnesses 40% Increase In Medical Tourists After Law Revision Return to Headlines
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.
Sri Lanka's Aitken Spence Upgrades Oldest Hotel To New Brand Return to Headlines
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.
Thailand's Unique To Manage New Boutique Hotels Return to Headlines
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.
Hotel Properties Limited Looking To Expand In Sabah Return to Headlines
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.
Hamilton City Envisaged To Require Two More Hotels Return to Headlines
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.
Tourism Brought To A Standstill In Xinjiang Due To Riots Return to Headlines
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.
Absolute Share Price Performance, as at 10 July 2009
Closing Share Price as at 10 July 2009 3 July 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  4.35 4.30
General Property Group 0.51 0.51 1%
Mirvac Group 1.10 1.07 3%
Ocean Capital Limited 0.32 0.30
Thakral Holdings Group 0.24 0.24 2%
Living and Leisure Australia Group 0.02 0.02 6%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 2.98 3.00 -1%
Dusit Thani Public Co Ltd 26.50 26.00 2%
The Erawan Group Public Co Ltd 1.69 1.72 -2%
Grande Asset Hotels and Property Public Co Ltd 1.53 1.53
Laguna Resorts & Hotel Public Co Ltd 25.00 25.25 -1%
Minor International Public Co Ltd 7.40 7.80 -5%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  19.36 18.78 3%
Beijing Capital Tourism Co Ltd 17.20 16.18 6%
Jinling Hotel Corporation Ltd 7.74 7.43 4%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 7.35 6.85 7%
Guangzhou Dong Fang Hotel Co Ltd 8.57 8.18 5%
Shenzhen Century Plaza Hotel Co Ltd 6.07 5.92 3%
Home Inns & Hotels Management Inc 13.84 15.05 -8%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 7.27 7.43 -2%
Regal Hotels International Holdings Ltd 1.90 1.96 -3%
Sino Hotels Holdings Ltd 2.50 2.50
The Hong Kong & Shanghai Hotels Ltd 7.75 7.78
Korea Exchange (KRW)
The Shilla  15,850 16,600 -5%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.30 0.28 7%
ART Management Limited 0.68 0.70 -3%
Banyan Tree Holdings Limited 0.55 0.60 -8%
CDL HTrust  0.84 0.89 -6%
Hotel Grand Central Ltd 0.58 0.56 4%
Hotel Properties Ltd 1.53 1.60 -4%
Mandarin Oriental International Ltd (US$) 1.24 1.37 -9%
Pan Pacific Hotels Group Limited 1.23 1.20 3%
Shangri-La Asia Limited (HK$) 10.90 11.28 -3%
Stamford Land Corporation Ltd 0.31 0.31
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  485.00 472.00 3%
The Ambassador Hotel, Ltd  39.05 40.00 -2%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  153,900 163,700 -6%
Japan Hotel and Resort Inc 151,200 186,000 -19%
Imperial Hotel, Ltd  1,925 2,045 -6%
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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