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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 19 June 2009 |
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Indonesia's PT Intiland Development Tbk (Intiland) has announced
plans to launch a new hotel chain, Whiz Hotels, which is expected
to offer reasonable rates and target mainly the domestic corporate
markets, especially young executives. The company plans to develop
up to 60 Whiz Hotels by 2014. According to the President Director
and Chief Executive Officer of Intiland, Lennard Ho, hotel chain
business in Indonesia has rising potential as Indonesians are
becoming more affluent, as evidenced by the increase in domestic
airline passengers and rising number of private car owners in
the country. |
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Tata Group's hospitality arm, Indian Hotels Company Limited
(IHCL), has acquired an 85% stake in Elel Hotels and Investments,
which owns the Mumbai-based Sea Rock Hotel, for approximately
US$143 million. The company is expected to demolish the existing
Sea Rock Hotel and redevelop the site into a world-class mixed-use
development like the Burj Dubai, comprising a convention centre,
and retail and commercial components. IHCL will fund the acquisition
with approximately US$29 million raised through a rights issue
among other sources. Additionally, IHCL has the option to acquire
the remaining 15% in Elel Hotels and Investments. |
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South Korea's SUMMIT Group, a pioneer in the Korean model of
hotel management, aims to take its Imperial Palace brand to
the global level. The group has opened the IP Hotel Fukuoka
in Japan and is planning to open the 557-key Imperial Palace
Waterpark Cebu Resort in Cebu, the Philippines, in July. The
Cebu resort is expected to comprise six buildings and a water
park. The success of Imperial Palace is witnessed by the Imperial
Palace Hotel in Seoul which began its operations as a tourist
hotel known as Amiga more than two decades ago. The hotel which
was refurbished in 2003 under a Victorian glamour concept, with
a Korean-style lounge on the 20th floor of the hotel, has drawn
numerous guests including repeat ones. |
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A total of 19 Ibis hotels are expected to open in China by end
of 2009. These new hotels include Ibis Beijing Capital Airport
and Ibis Beijing Wangjing in Beijing, and Ibis Qingdao Donghai
and Ibis Qingdao Ningxia in the holiday destination, Qingdao.
The Ibis hotel network will be further strengthened in north
China with the additions of Ibis Dalian Zhuanhe and Ibis Jinan
Jiefang by 2009, as well as the opening of Ibis Shenyang Tiexi,
Ibis Anshan Shengli Square, Ibis Batou Aerding and Ibis Weifang
Qingnian in the next few years. Currently, there are 26 Ibis
hotels across China, totalling approximately 5,348 rooms. |
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According to Australian Hotels Association Western Australia,
hotels in Western Australia have reduced their room rates by
as much as 68% during the current economic slowdown. Since March
2009, hotels have reported a decline of 10% in occupancy and
15% in revenue and it was estimated that there was almost a
50% drop in the visitor arrivals from Japan, Britain and the
United States as compared to the same time period in 2008. The
association expects the discounted room rates to persist for
a few months and it is likely to affect investments in the industry
in the short-term. |
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The management of Resorts World, the subsidiary of Malaysian
gaming conglomerate Genting Group, has announced that the company
sees no obstacles in investing in Macau but clarified that no
decision has been made. Resorts World has been reported to be
looking to acquire the stake of the American gaming firm, MGM
Mirage, in a Macau casino. Genting has recently acquired a 3.2%
interest in MGM Mirage after both Genting and Resorts World
had acquired US$100 million worth of MGM Mirage's debt. |
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Absolute Share Price Performance, as at
19 June 2009
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Closing Share Price as at |
19 June 2009 |
12 June 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings |
3.95 |
4.50 |
-12% |
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General Property Group |
0.48 |
0.50 |
-4% |
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Mirvac Group |
1.12 |
1.20 |
-6% |
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Ocean Capital Limited |
0.30 |
0.30 |
– |
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Thakral Holdings Group |
0.24 |
0.26 |
-8% |
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Living and Leisure Australia Group |
0.02 |
0.02 |
– |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
2.98 |
3.20 |
-7% |
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Dusit Thani Public Co Ltd |
25.00 |
22.50 |
11% |
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The Erawan Group Public Limited |
1.72 |
1.98 |
-13% |
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Grande Asset Development |
1.54 |
1.59 |
-3% |
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Laguna Resorts & Hotel Public Co Ltd |
25.25 |
27.00 |
-6% |
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Minor International PCL |
8.10 |
9.00 |
-10% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
18.26 |
17.65 |
3% |
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Beijing Capital Tourism Co Ltd |
16.29 |
15.53 |
5% |
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Jinling Hotel Corporation Ltd |
7.22 |
6.78 |
6% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
6.96 |
7.30 |
-5% |
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Guangzhou Dong Fang Hotel Co Ltd |
8.65 |
8.10 |
7% |
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Shenzhen Century Plaza Hotel Co Ltd |
6.10 |
5.71 |
7% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
16.03 |
16.90 |
-5% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel International Ltd |
7.50 |
7.50 |
– |
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Regal Hotels International Holdings Ltd |
2.09 |
2.12 |
-1% |
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Sino Hotels Holdings Ltd |
2.60 |
2.60 |
– |
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The Hong Kong & Shanghai Hotels Ltd |
8.00 |
8.29 |
-3% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.31 |
0.32 |
-3% |
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ART Management Pte Ltd |
0.67 |
0.69 |
-4% |
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Banyan Tree Holdings Limited |
0.60 |
0.64 |
-6% |
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CDL HTrust |
0.76 |
0.77 |
-1% |
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Hotel Grand Central Ltd |
0.56 |
0.57 |
-2% |
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Hotel Plaza Ltd |
1.04 |
1.00 |
4% |
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Hotel Properties Ltd |
1.58 |
1.68 |
-6% |
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Mandarin Oriental International Ltd (US$) |
1.37 |
1.54 |
-11% |
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Shangri-La Asia Ltd (HK$) |
12.50 |
13.70 |
-9% |
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Stamford Land |
0.33 |
0.34 |
-3% |
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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. |
