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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 5 June 2009
Langham Hotels International To Invest US$1 Billion In China
Singapore’s URA Releases New Hotel Site On Reserve List
US Company Buys Hotel In New Zealand
Hard Rock Hotel Looking To Expand In Malaysia And Asia
City Of Dreams Unveiled In Macau
Guangzhou To Revamped State-Owned Hotels Amidst Rising Foreign Competition
Absolute Share Price Performance, As At 5 June 2009
Langham Hotels International To Invest US$1 Billion In China Return to Headlines
Langham Hotels International (Langham International) has announced its plans to invest more than US$1 billion in China by 2014. The investment will include the opening of new hotels, refurbishment of existing hotels and acquisition of other hotels in China. According to the company’s plan, Langham Hotels is expected to expand its hotel portfolio in China via its two upscale brands, namely Langham Place and Langham. It is expected that Langham Hotels will open 15 new hotels in China by 2014, including two more hotels in Beijing in 2010 and one hotel in Guangzhou, Guangdong Province in 2011, as well as other Chinese cities such as Hangzhou, Suzhou, Xiamen, Chongqing and Chengdu.
Singapore’s URA Releases New Hotel Site On Reserve List Return to Headlines
Singapore’s Urban Redevelopment Authority (URA) has released a hotel site located along Kallang River which is currently available for application through the reserve list. With a 99-year lease term, an area of approximately 0.74 hectare and a maximum gross floor area of approximately 20,917 square metres, the sale site is situated in the new Kallang Riverside growth area and nearby the upcoming Sports Hub. It was estimated that the bids for the site are likely to range from US$32.9 million to US$39.8 million, which translates to around US$148 to US$178 per square foot per plot ratio (psf ppr). In April 2009, a hotel site in Short Street received a committed bid of around US$6 million or US$151 psf ppr. Due to the prominent location of the site, a URA-chaired design advisory panel will guide the development team with the design of the proposed hotel.
US Company Buys Hotel In New Zealand Return to Headlines
A United States-owned company, Worldmark by Wyndham (NZ) Limited, was granted approval by New Zealand’s Overseas Investment Office to acquire and redevelop the Mount Aspiring Hotel located in Wanaka, New Zealand. The company intends to create around 69 apartments in the Wanaka region for ‘Worldmark holiday credit holders’ and the 38-unit Mount Aspiring Hotel is expected to be converted to be part of the timeshare scheme.
Hard Rock Hotel Looking To Expand In Malaysia And Asia Return to Headlines
Malaysia will welcome its first Hard Rock Hotel, the US$43 million 249-key Hard Rock Hotel Penang, in Batu Ferringgi, Penang by September 2009. In addition, Hard Rock International (Hard Rock) is still looking at opportunities in Kuala Lumpur even though prior deals for two to three properties did not work out. Hard Rock also mentioned that they are interested in Vietnam, Shanghai and Beijing and will be keen on the Thai and Japanese markets gaming be legalised.
City Of Dreams Unveiled In Macau Return to Headlines
The US$2.4 billion City of Dreams development, which comprises three hotels, more than 500 gambling tables, a shopping mall and a variety of food and beverage outlets, was unveiled in Macau during the first week of June 2009. Being the first major casino to open in Macau in almost two years, the City of Dreams is developed by Melco Crown Entertainment. Macau, the only place in China where casinos are legalised, has experienced a marked slowdown in the gaming industry in 2008 after the central government imposed domestic travelling restrictions and the adverse impacts brought about by the global economic crisis.
Guangzhou To Revamped State-Owned Hotels Amidst Rising Foreign Competition Return to Headlines
The Guangzhou Municipal Government has agreed to transfer a 51.55%-stake in Guangzhou Dongfang Hotel, which is listed in Shenzhen, from state-owned Yue Xiu Enterprises Holdings (Yue Xiu) to Guangzhou Lingnan International Enterprise Group (Lingnan). This transfer will consolidate Yue Xiu’s hotel assets such as Guangzhou Dongfang Hotel and Oriental Resort under Lingnan which also owns hotel assets such as the Garden Hotel, China Hotel and Guangzhou Hotel. It was reported that this reorganisation will facilitate the upgrading of facilities and services in order to compete against the ten five-star international hotels currently under construction in the city.
Absolute Share Price Performance, as at 5 June 2009
Closing Share Price as at 5 June 2009 29 May 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.40 4.56 -4%
General Property Group 0.53 0.51 4%
Mirvac Group 1.33 1.15 16%
Ocean Capital Limited 0.30 0.30
Thakral Holdings Group 0.23 0.22 2%
Living and Leisure Australia Group 0.02 0.019 -5%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 2.96 2.90 2%
Dusit Thani Public Co Ltd 21.20 23.00 -8%
The Erawan Group Public Limited 1.61 1.54 5%
Grande Asset Development 1.53 1.53
Laguna Resorts & Hotel Public Co Ltd 26.50 25.75 3%
Minor International PCL 9.15 7.85 17%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 18.52 18.81 -2%
Beijing Capital Tourism Co Ltd 15.77 15.80
Jinling Hotel Corporation Ltd 6.69 6.91 -3%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 10.80 10.63 2%
Guangzhou Dong Fang Hotel Co Ltd 7.93 8.60 -8%
Shenzhen Century Plaza Hotel Co Ltd 6.20 5.57 11%
Home Inns & Hotels Management Inc 18.34 15.47 19%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 7.80 7.83
Regal Hotels International Holdings Ltd 2.05 2.00 2%
Sino Hotels Holdings Ltd 2.76 2.80 -1%
The Hong Kong & Shanghai Hotels Ltd 7.25 7.00 4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.33 0.32 3%
ART Management Pte Ltd 0.71 0.67 6%
Banyan Tree Holdings Limited 0.69 0.64 8%
CDL HTrust 0.79 0.79 -1%
Hotel Grand Central Ltd 0.57 0.61 -7%
Hotel Plaza Ltd 1.03 0.89 16%
Hotel Properties Ltd 1.74 1.78 -2%
Mandarin Oriental International Ltd (US$) 1.41 1.60 -12%
Shangri-La Asia Ltd (HK$) 13.42 11.60 16%
Stamford Land 0.36 0.39 -8%
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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