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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 3 July 2009 |
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C C Land Holdings Limited (C C Land) has announced its
partnership with New World China Land Limited to develop a
hotel project in Yubei District, Chongqing, China. C C Land
is expected to acquire a 20% stake in the hotel development
for approximately US$7.56 million or US$469 per square metre
of potential floor area. The hotel project which has a
potential floor area of 80,661 square metres is expected to
be completed in 2012 and comprises a five-star hotel, an
extended-stay hotel and 500 parking spaces. The hotel
project is part of a mixed-use development which consists of
shopping malls, hotels, office buildings and apartments,
covering a floor area of 400,000 square metres. |
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Hotel investments in Malaysia plunged fivefold from
approximately US$340 million worth of transactions in 2005
to US$58.1 million in 2008. In 2008, there was also less
foreign interest in hotel investments compared to 2006 and
2007 where more than 60% of the hotel transactions were by
foreigners. However, hotel investment momentum is expected
to pick up in 2009 with foreign investors showing interest
in the Malaysian hotel market again. The market has already
witnessed the sale of Novotel Hydro Majestic in Kuala Lumpur
to The Nomad Residences Sdn Berhad. Other hotels up for sale
include the Hotel Equatorial Malacca and Hydro Hotel Penang. |
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With effect from 1 July 2009, Japan will issue visas to
individual mainland Chinese tourists with ‘good references
in terms of occupation, financial resources and other
factors'. The policy change is in line with the country's
bilateral agreement signed during Japan Prime Minister Taro
Aso's visit to China in April 2009. Prior to this, Japan
only issued visas to mainland Chinese tourists travelling in
groups of five to 40 people accompanied by Japanese and
mainland Chinese tour guides, as well as issuing visas to
two to three people travelling as a family (also with a tour
guide), given that the family has an annual income of
US$36,700. Japan expects the total number of mainland
Chinese visitors to increase to 1.25 million by 2010. |
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During the first five months of 2009, the number of
international arrivals to Indonesia recorded at 2.41 million
arrivals, reflecting a 1.7% growth from the same period in
2008. Bali, the country's main tourism destination, recorded
an approximate 3% increase from the same month in 2008 to
register 441,300 international arrivals in May 2009. Tourism
authorities have forecast international arrivals to
Indonesia to record between 6.25 million to 6.5 million
arrivals for 2009, as compared with 6.4 million arrivals in
2008. Tourism receipts are expected to register
approximately US$6.5 billion in 2009, from an estimated
US$7.6 billion in 2008. |
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Anchor Land Holdings Inc (Anchor Land) has announced that it
has acquired Admiral Hotel in Roxas Boulevard within the
prime Manila Bay area in the Philippines. Forming part of
the company's US$83 million investment in the area, Anchor
Land plans to redevelop the property into a boutique hotel
in addition to developing an upscale residential condominium
adjacent to the original structure. Anchor Land also
announced that it is budgeting approximately US$52 million
for capital expenditures in 2009, primarily for the
acquisition of properties in Metro Manila for future
development. |
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CTC Holidays, which used to be a travel agent, has opened its
first hotel, @ Gallery Suites, in Shanghai, China, in April
2009. The 43-key hotel, which is situated within a
nine-storey heritage building, is located within Xuhui
District and cost approximately US$2.76 million. Currently,
the hotel is operating at an occupancy rate of 20% while the
monthly occupancy for hotels in Shanghai was recorded at 45%
in April, 9% lower than the same month in 2008. Despite the
slowdown, CTC Holidays has plans to refurbish another
heritage building within Jing'an district in Shanghai. |
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Absolute Share Price Performance, as at
3 July 2009
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Closing Share Price as at |
3 July 2009 |
26 June 2009 |
% Change |
Australia Stock Exchange (ASX) |
Amalgamated Holdings Limited |
4.30 |
4.30 |
– |
General Property Group |
0.51 |
0.48 |
6% |
Mirvac Group |
1.07 |
1.13 |
-6% |
Ocean Capital Limited |
0.30 |
0.30 |
– |
Thakral Holdings Group |
0.24 |
0.24 |
-2% |
Living and Leisure Australia Group |
0.02 |
0.02 |
6% |
Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
3.00 |
3.04 |
-1% |
Dusit Thani Public Co Ltd |
26.00 |
26.00 |
– |
The Erawan Group Public Co Ltd |
1.72 |
1.73 |
-1% |
Grande Asset Hotels and Property Public Co Ltd |
1.53 |
1.53 |
– |
Laguna Resorts & Hotel Public Co Ltd |
25.25 |
26.25 |
-4% |
Minor International Public Co Ltd |
7.80 |
8.20 |
-5% |
China Shanghai Stock Exchange (RMB) |
Shanghai Jinjiang International Hotels Development |
18.78 |
17.83 |
5% |
Beijing Capital Tourism Co Ltd |
16.18 |
15.99 |
1% |
Jinling Hotel Corporation Ltd |
7.43 |
7.03 |
6% |
China Shenzhen Stock Exchange (RMB) |
Hunan Huatian Great Hotel Co Ltd |
6.85 |
6.90 |
-1% |
Guangzhou Dong Fang Hotel Co Ltd |
8.18 |
8.37 |
-2% |
Shenzhen Century Plaza Hotel Co Ltd |
5.92 |
5.87 |
1% |
NASDAQ (US$) |
Home Inns & Hotels Management Inc |
15.05 |
16.25 |
-7% |
Hong Kong Stock Exchange (HK$) |
Miramar Hotel & Investment Co Ltd |
7.43 |
7.41 |
– |
Regal Hotels International Holdings Ltd |
1.96 |
2.10 |
-7% |
Sino Hotels Holdings Ltd |
2.50 |
2.55 |
-2% |
The Hong Kong & Shanghai Hotels Ltd |
7.78 |
7.65 |
2% |
Korea Exchange (KRW) |
The Shilla |
16,600 |
16,100 |
3% |
Singapore Stock Exchange (S$) |
Amara Holdings Ltd |
0.28 |
0.30 |
-7% |
ART Management Limited |
0.70 |
0.69 |
1% |
Banyan Tree Holdings Limited |
0.60 |
0.62 |
-3% |
CDL HTrust |
0.89 |
0.83 |
7% |
Hotel Grand Central Ltd |
0.56 |
0.59 |
-5% |
Hotel Properties Ltd |
1.60 |
1.77 |
-10% |
Mandarin Oriental International Ltd (US$) |
1.37 |
1.36 |
1% |
Pan Pacific Hotels Group Limited |
1.20 |
1.16 |
3% |
Shangri-La Asia Limited (HK$) |
11.28 |
12.28 |
-8% |
Stamford Land Corporation Ltd |
0.31 |
0.33 |
-5% |
Taiwan Stock Exchange (NT$) |
Formosa International Hotels Corporation |
472.00 |
455.00 |
4% |
The Ambassador Hotel, Ltd |
40.00 |
38.10 |
5% |
Tokyo Stock Exchange (JPY) |
Nippon Hotel Fund Investment Corporation |
163,700 |
176,000 |
-7% |
Japan Hotel and Resort Inc |
186,000 |
174,800 |
6% |
Imperial Hotel, Ltd |
2,045 |
2,140 |
-4% |
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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. |