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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 31 July 2009
Japan Makes 2010 'MICE Year' For Tourism Promotion
F&N Sells China Property Unit For Approximately US$140 Million
First Five-Star Hotel Opens In Incheon Free Economic Zone, South Korea
Rise In ASEAN Tourists For Malaysia In 2008
Metropolis Tower Under Plans To Be Converted Into Five-Star Hotel
Plans For A 200-Key Resort In Sentosa Shelved
Absolute Share Price Performance, As At 31 July 2009
Japan Makes 2010 'MICE Year' For Tourism Promotion Return to Headlines
The Japan Tourism Agency has announced 2010 as the 'MICE Year' to attract meetings, incentives, conferences or conventions, and events or exhibitions to Japan. The agency is expected to announce an action programme targeted at promoting Japan as a key MICE destination. The programme which is expected to be prepared by March 2010, is anticipated to outline the economic benefits of MICE promotion. International conferences scheduled to take place in Japan in 2010 include Asia-Pacific Economic Cooperation forum meetings and the 10th Conference of the Parties to the Convention on Biological Diversity.
F&N Sells China Property Unit For Approximately US$140 Million Return to Headlines
Singapore's Fraser and Neave (F&N) said that its subsidiary Frasers Centrepoint has sold its full interest in Hong Kong-incorporated Metro Charm Holdings (Metro Charm) for approximately US$140 million. It was reported that Metro Charm holds all the equity in a development company based in Hainan Province, China and the company is working on a hotel and residential villa project in China. According to F&N, the sale is in line with its focus on property development in selected key cities in China.
First Five-Star Hotel Opens In Incheon Free Economic Zone, South Korea Return to Headlines
Sheraton Incheon Hotel, the first five-star hotel located in the Songdo International Business District in Incheon Free Economic Zone (IFEZ), South Korea, opened on 1 August 2009. The hotel aims to mainly attract corporate guests, as well as honeymoon guests during the weekends. Within the vicinity of the hotel is the convention centre, Songdo Convensia, and the Jack Nicklaus Golf Club which is expected to open in 2010, as well as the Incheon Grand Bridge. The Incheon Grand Bridge is scheduled to open in October 2009 and is expected to connect IFEZ to the Incheon International Airport, enhancing accessibility.
Rise In ASEAN Tourists For Malaysia In 2008 Return to Headlines
Malaysia welcomed a total of 16.6 million international arrivals from the countries of the Association of Southeast Asian Nations (ASEAN) in 2008, reflecting an increase of 6.5% from 2007. These arrivals made up approximately 75% of the total international arrivals for Malaysia in 2008 and contributed around US$9.4 billion to the economy, recording a 10% increase from 2007. Malaysian tourism authorities have identified the region as a vital source of demand, given its total population of 570 million and the preference for short-haul travelling amidst the current economic conditions.
Metropolis Tower Under Plans To Be Converted Into Five-Star Hotel Return to Headlines
Metropolis Tower, one of Auckland's distinctive and landmark buildings, is currently under negotiations to be converted into an independent five-star hotel. Nicholson Capital, a private equity company, has announced its bid to take control of the building and convert a portion of it into a hotel, Hotel Grand Metropolis. Currently, the building is controlled by a management corporation which comprises apartment owners and their voting rights for building-wide decisions are based on their respective apartment values. The building had previously been operated by hotel brands such as Millennium and Ascott.
Plans For A 200-Key Resort In Sentosa Shelved Return to Headlines
The recreational arm of the National Trades Union Congress (NTUC) of Singapore, NTUC Club, has announced the cancellation of its plans for a 200-key resort on Sentosa Island due to the high construction costs and land costs. The development, which was planned to be located within a three-hectare site, was initially budgeted to cost approximately US$31 million. Scheduled to be reviewed for future development, the site was previously not under any sale or lease agreement with NTUC Club. The landlord, Sentosa Development Corporation, has announced that the site has been earmarked for sports and recreational use.
Absolute Share Price Performance, as at 31 July 2009
Closing Share Price as at 31 July 2009 24 July 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  4.65 4.50 3%
General Property Group 0.53 0.53
Mirvac Group 1.28 1.21 6%
Ocean Capital Limited 0.32 0.32
Thakral Holdings Group 0.21 0.21
Living and Leisure Australia Group 0.03 0.02 13%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.10 3.06 1%
Dusit Thani Public Co Ltd 27.50 27.00 2%
The Erawan Group Public Co Ltd 1.79 1.71 5%
Grande Asset Hotels and Property Public Co Ltd 1.40 1.40
Laguna Resorts & Hotel Public Co Ltd 26.25 26.00 1%
Minor International Public Co Ltd 8.45 8.20 3%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  23.39 21.78 7%
Beijing Capital Tourism Co Ltd 18.42 18.66 -1%
Jinling Hotel Corporation Ltd 8.81 7.98 10%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 7.37 7.72 -5%
Guangzhou Dong Fang Hotel Co Ltd 8.01 8.26 -3%
Shenzhen Century Plaza Hotel Co Ltd 5.52 5.78 -4%
Home Inns & Hotels Management Inc 16.00 17.39 -8%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 7.70 7.55 2%
Regal Hotels International Holdings Ltd 2.49 2.10 19%
Sino Hotels Holdings Ltd 2.65 2.60 2%
The Hong Kong & Shanghai Hotels Ltd 8.90 8.87
Korea Exchange (KRW)
The Shilla  17,000 15,800 8%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.35 0.35
ART Management Limited 0.88 0.89 -1%
Banyan Tree Holdings Limited 0.68 0.64 6%
CDL HTrust  1.21 1.06 14%
Hotel Grand Central Ltd 0.67 0.63 6%
Hotel Properties Ltd 1.85 1.85
Mandarin Oriental International Ltd (US$) 1.28 1.26 2%
Pan Pacific Hotels Group Limited 1.46 1.42 3%
Shangri-La Asia Limited (HK$) 12.08 12.00 1%
Stamford Land Corporation Ltd 0.38 0.38
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  426.00 435.00 -2%
The Ambassador Hotel, Ltd  38.65 38.80
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  156,000 157,200 -1%
Japan Hotel and Resort Inc 154,000 147,200 5%
Imperial Hotel, Ltd  1,969 1,930 2%
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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