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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 22 May 2009
Boutique Hotels Rise In Popularity In Taiwan
Accor Group Eyes Malaysia For Ibis Hotel
Visitor Arrivals To Hong Kong Drop 9% Amid Flu Scare
Slower Bookings For Hotels During F1 Period In Singapore
Amadeus Ties Up With Yatra For Hotel Reservations In India
Starwood To Open Its First Sheraton In Jinan In September 2009
Absolute Share Price Performance, As At 15 May 2009
Boutique Hotels Rise In Popularity In Taiwan Return to Headlines
Boutique hotels in Taiwan are gaining popularity despite weakening demand in the five-star hotel market. Although Taiwan’s five-star hotels are facing an increasingly tough operating environment, the number of boutique hotels are rising in Taipei. For instance, the Taipei Inn Group features affordable boutique hotels with quality and creativity. These hotels feature guestrooms with unique styles and themes such as grass gardens and artificial winter capsule.
Accor Group Eyes Malaysia For Ibis Hotel Return to Headlines
France’s Accor Group is looking to establish its economy hotel chain, Ibis Hotel (Ibis), in Malaysia as the country rises as a key tourist destination in the region. The group is likely to focus in areas with growing business such as Kuala Lumpur, Johor Bahru, Kota Kinabalu and Kuching. Other than Malaysia, Ibis does not have any presence in other Southeast Asian countries such as Brunei, Laos, Cambodia, Myanmar and the Philippines. Under Ibis’s worldwide expansion plan, it is expected to have 1,100 hotels by 2010 in more than 70 countries and 40% of the new establishments will be in the Asia Pacific region — the main growth market for Ibis.
Visitor Arrivals To Hong Kong Drop 9% Amid Flu Scare Return to Headlines
According to the Hong Kong Tourism Board, Hong Kong welcomed more than nine million visitors in the first four months of 2009; however, the number of visitors fell by 9% and the number of mainland Chinese visitors dropped by around 8% in the first ten days of May 2009, due mainly to the outbreak of swine flu. The travel industry forecast the current swine flu outbreak to bear a stronger impact than the severe acute respiratory syndrome outbreak in 2003.
Slower Bookings For Hotels During F1 Period In Singapore Return to Headlines
Hotels in Singapore are experiencing a slower take-up rate in their room reservations during the 2009 Formula One race, to be held from 25 to 27 September. Hence, some hotels are extending their special rates for early bird packages till as late as July. According to some hoteliers, consumers are also expecting lower room rates due to the global economic slowdown and declining visitor arrivals in Singapore. Hoteliers are looking to provide incentives such as discounts for consumers to make reservations in advance. In 2008, reservations picked up two months prior to the race and hoteliers are expecting it to be similar this time around.
Amadeus Ties Up With Yatra For Hotel Reservations In India Return to Headlines
Amadeus, a leading technology and distributions solution provider for the tourism industry, has entered into an agreement with Yatra.com, an online travel company, for providing services to consumers in India. The collaboration will enable more than 100,000 travel agencies in India to gain access to Amadeus’ Global Distribution System and allow them to offer to travellers over 900 one-star to three-star and independent hotels in India. According to Amadeus, this collaboration comes amidst the growing demand for mid-range and independent hotels as travellers have been seeking more affordable options in the current global economic environment.
Starwood To Open Its First Sheraton In Jinan In September 2009 Return to Headlines
Starwood Hotels and Resorts Worldwide Inc (Starwood) will open its first Sheraton, Sheraton Jinan Hotel, in Jinan City, capital of Shandong Province in northeast China by September 2009. Located in Lixia District, the hotel forms part of a mixed-use development comprising office and retail facilities. The hotel is expected to feature 445 keys, four food and beverage outlets and 4,300 square metres of meeting space among its facilities. This new property stays in line with Starwood’s expansion plans in China as it recently opened its 100th hotel in Beijing during 2008.
Absolute Share Price Performance, as at 22 May 2009
Closing Share Price as at 22 May 2009 15 May 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.49 4.35 3%
General Property Group 0.49 0.41 20%
Mirvac Group 0.98 0.86 15%
Ocean Capital Limited 0.31 0.24 27%
Thakral Holdings Group 0.25 0.25
Living and Leisure Australia Group 0.02 0.02 -5%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 2.90 2.86 1%
Dusit Thani Public Co Ltd 22.90 21.50 7%
The Erawan Group Public Limited 1.51 1.43 6%
Grande Asset Development 1.53 1.70 -10%
Laguna Resorts & Hotel Public Co Ltd 26.25 25.75 2%
Minor International PCL 7.30 6.80 7%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 19.34 20.17 -4%
Beijing Capital Tourism Co Ltd 15.93 17.40
Jinling Hotel Corporation Ltd 6.51 6.69 -3%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 10.66 10.68
Guangzhou Dong Fang Hotel Co Ltd 8.12 7.28 12%
Shenzhen Century Plaza Hotel Co Ltd 5.47 5.47
Home Inns & Hotels Management Inc 13.38 14.37 -7%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 6.63 6.10 9%
Regal Hotels International Holdings Ltd 1.74 1.76 -1%
Sino Hotels Holdings Ltd 2.65 2.75 -4%
The Hong Kong & Shanghai Hotels Ltd 6.82 6.86 -1%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.31 0.29 7%
ART Management Pte Ltd 0.64 0.63 2%
Banyan Tree Holdings Limited 0.54 0.49 10%
CDL HTrust 0.77 0.79 -2%
Hotel Grand Central Ltd 0.53 0.54 -2%
Hotel Plaza Ltd 0.93 0.93 0%
Hotel Properties Ltd 1.47 1.43 3%
Mandarin Oriental International Ltd (US$) 1.08 1.02 6%
Shangri-La Asia Ltd (HK$) 10.54 10.70 -1%
Stamford Land 0.33 0.32 3%
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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