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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 5 June 2009 |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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Absolute Share Price Performance, as at
5 June 2009
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Closing Share Price as at |
5 June 2009 |
29 May 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings |
4.40 |
4.56 |
-4% |
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General Property Group |
0.53 |
0.51 |
4% |
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Mirvac Group |
1.33 |
1.15 |
16% |
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Ocean Capital Limited |
0.30 |
0.30 |
– |
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Thakral Holdings Group |
0.23 |
0.22 |
2% |
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Living and Leisure Australia Group |
0.02 |
0.019 |
-5% |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
2.96 |
2.90 |
2% |
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Dusit Thani Public Co Ltd |
21.20 |
23.00 |
-8% |
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The Erawan Group Public Limited |
1.61 |
1.54 |
5% |
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Grande Asset Development |
1.53 |
1.53 |
– |
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Laguna Resorts & Hotel Public Co Ltd |
26.50 |
25.75 |
3% |
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Minor International PCL |
9.15 |
7.85 |
17% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
18.52 |
18.81 |
-2% |
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Beijing Capital Tourism Co Ltd |
15.77 |
15.80 |
– |
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Jinling Hotel Corporation Ltd |
6.69 |
6.91 |
-3% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
10.80 |
10.63 |
2% |
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Guangzhou Dong Fang Hotel Co Ltd |
7.93 |
8.60 |
-8% |
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Shenzhen Century Plaza Hotel Co Ltd |
6.20 |
5.57 |
11% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
18.34 |
15.47 |
19% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel International Ltd |
7.80 |
7.83 |
– |
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Regal Hotels International Holdings Ltd |
2.05 |
2.00 |
2% |
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Sino Hotels Holdings Ltd |
2.76 |
2.80 |
-1% |
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The Hong Kong & Shanghai Hotels Ltd |
7.25 |
7.00 |
4% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.33 |
0.32 |
3% |
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ART Management Pte Ltd |
0.71 |
0.67 |
6% |
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Banyan Tree Holdings Limited |
0.69 |
0.64 |
8% |
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CDL HTrust |
0.79 |
0.79 |
-1% |
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Hotel Grand Central Ltd |
0.57 |
0.61 |
-7% |
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Hotel Plaza Ltd |
1.03 |
0.89 |
16% |
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Hotel Properties Ltd |
1.74 |
1.78 |
-2% |
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Mandarin Oriental International Ltd (US$) |
1.41 |
1.60 |
-12% |
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Shangri-La Asia Ltd (HK$) |
13.42 |
11.60 |
16% |
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Stamford Land |
0.36 |
0.39 |
-8% |
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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. |
