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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 29 May 2009 |
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Thistle Hotels, part of Guoman Hotel Management (UK) Limited
under the Hong Leong Group, will be making its debut in Asia
with two properties in Malaysia. Thistle Port Dickson Resort
and Thistle Johor Bahru, previously Guoman Port Dickson and
Hyatt Johor Bahru, respectively, are undergoing a combined US$14
million refurbishment for their conversions. The 251-key Thistle
Port Dickson Resort, which is scheduled to open in June 2009,
is located along the west coast of Malaysia amidst 90 acres
of greenery while the 381-key Thistle Johor Bahru is scheduled
to open in July 2009 and located just across the border from
Singapore. |
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Japanese Investors Seeking Hotel Opportunities In South Sulawesi,
Indonesia |
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Japanese investors led by Shio Honma of Real Housing Company
have expressed interest in investing in the hotel industry in
the New Bantaeng Business Centre located in Bantaeng District,
South Sulawesi, Indonesia. It was reported that these investors
are looking at developing fish processing industries in the
district and considering hotel developments to complement the
investments. Currently, there is a Japanese firm, PT Global
Seafood International Indonesia, established in Bantaeng District. |
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InterContinental Hotels Group PLC (IHG) has entered into a management
agreement with Taiwan’s E United Group to manage the Crowne
Plaza Kaohsiung E-Da World in Kaohsiung by the end of 2009.
The 650-key hotel, which is located at Guang Yin Mountain, is
expected to feature five food and beverage outlets, two ballrooms
and ten function rooms among its facilities. Crowne Plaza Kaohsiung
E-Da World will be the first Crowne Plaza hotel to be managed
by IHG in Taiwan and will increase its room count to over 1,200
rooms in Taiwan. |
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Unitech, one of India’s largest real estate firms, is reported
to have entered into a Memorandum of Understanding to sell its
190-key budget hotel located along National Highway 8 in Gurgaon
for approximately US$42 million. In addition, it was also reported
than Unitech is in advance stages to divest its 150-key Marriott-branded
serviced apartments in Gurgaon for a similar price of around
US$42 million. In 2008, Unitech had sold a 299-room hotel in
Gurgaon for approximately US$49 million. |
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According to officials from airports in Incheon, Gimpo, Jeju
and Gimhae on Korea, the four airports utilised by Japanese
visitors, the number of visitor arrivals from Japan has declined
by approximately 10% in the third week of May. Growing fears
over the spread of the H1N1 flu virus have prompted Japanese
travellers to cancel their trips. In addition, Korean industry
experts have also attributed the recent decline in Japanese
arrivals to the appreciating Won against the Japanese Yen. |
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Revenue For Millennium and Copthorne Hotels Down 14% In First
Four Months Of 2009 |
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Millennium and Copthorne (M&C), which has 30 hotels under its
Millennium, Copthorne and Kingsgate brands, reported a 14% drop
in its revenue for the first four months of 2009 as compared
to the same period in 2008. Over the same period, average room
rates for the hotels declined by 4% while occupancy fell by
six percentage points to record 71%. Among the 30 hotels, Copthorne
Hotel Wellington Oriental Bay in New Zealand is the only hotel
performing better than 2008 due to its recent extensive refurbishments. |
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Absolute Share Price Performance, as at
29 May 2009
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Closing Share Price as at |
29 May 2009 |
22 May 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings |
4.56 |
4.49 |
2% |
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General Property Group |
0.51 |
0.49 |
4% |
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Mirvac Group |
1.15 |
0.98 |
17% |
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Ocean Capital Limited |
0.30 |
0.31 |
-2% |
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Thakral Holdings Group |
0.22 |
0.25 |
– |
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Living and Leisure Australia Group |
0.019 |
0.019 |
0% |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
2.90 |
2.90 |
0% |
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Dusit Thani Public Co Ltd |
23.00 |
22.90 |
0% |
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The Erawan Group Public Limited |
1.54 |
1.51 |
2% |
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Grande Asset Development |
1.53 |
1.53 |
0% |
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Laguna Resorts & Hotel Public Co Ltd |
25.75 |
26.25 |
-2% |
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Minor International PCL |
7.85 |
7.30 |
8% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
18.81 |
19.34 |
-3% |
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Beijing Capital Tourism Co Ltd |
15.80 |
15.93 |
– |
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Jinling Hotel Corporation Ltd |
6.91 |
6.51 |
6% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
10.63 |
10.66 |
– |
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Guangzhou Dong Fang Hotel Co Ltd |
8.60 |
8.12 |
6% |
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Shenzhen Century Plaza Hotel Co Ltd |
5.57 |
5.47 |
– |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
15.47 |
13.38 |
16% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel International Ltd |
7.83 |
6.63 |
18% |
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Regal Hotels International Holdings Ltd |
2.00 |
1.74 |
15% |
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Sino Hotels Holdings Ltd |
2.80 |
2.65 |
6% |
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The Hong Kong & Shanghai Hotels Ltd |
7.00 |
6.82 |
3% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.32 |
0.31 |
3% |
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ART Management Pte Ltd |
0.67 |
0.64 |
5% |
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Banyan Tree Holdings Limited |
0.64 |
0.54 |
19% |
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CDL HTrust |
0.79 |
0.77 |
3% |
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Hotel Grand Central Ltd |
0.61 |
0.53 |
15% |
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Hotel Plaza Ltd |
0.89 |
0.93 |
-4% |
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Hotel Properties Ltd |
1.78 |
1.47 |
21% |
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Mandarin Oriental International Ltd (US$) |
1.60 |
1.08 |
48% |
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Shangri-La Asia Ltd (HK$) |
11.60 |
10.54 |
10% |
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Stamford Land |
0.39 |
0.33 |
18% |
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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. |
