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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 8
May 2009 |
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China’s
Wanda To Build US$470 Million Mixed-Use Development In Wuhan,
Hubei Province |
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to Headlines |
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| China’s
Dalian Wanda Group Company Limited plans to spend approximately
US$470 million to build a mixed-use development, Wanda Plaza,
located on New Huaxi Road in Wuhan, Hubei Province. Occupying
an area of 9.4 hectares with a likely floor area of 400,000
square metres, the development will feature hotels, shopping
malls, office buildings and apartments. The group has acquired
the development site land for approximately US$176 million and
the construction cost is estimated to be around US$294 million. |
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| According
to statistics revealed by the Hong Kong Tourism Board (HKTB),
the number of visitors to Hong Kong grew by 1.7% to 2.4 million
in March 2009 compared to the corresponding period in 2008.
Year-to-date figures for the first quarter of 2009 reached 7.4
million, 1.8% higher than the first quarter of 2008. The growth
in arrivals was attributed mainly to the increase in the number
of mainland Chinese visitors amid the financial crisis and outbreak
of swine flu. The growth in the mainland Chinese market is likely
to offset the decline in long-haul visitors which have declined
during times of economic recession. HKTB expects 29 million
persons to visit Hong Kong in 2009, a 1.6% dip from 2008. |
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| Macau’s
casino revenues reportedly recorded approximately US$1.1 billion
in April 2009, around a 9% decline from a year ago and 13% decline
from March 2009. This was reported to be the fifth consecutive
month that casino revenues have declined. Casino business has
suffered due to credit crunch among VIP junket agents and Beijing’s
curb on mainland Chinese travelling to the city. |
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| New
Zealand’s Queenstown Lodge has been placed on the market
by its receivers, Grant Thornton, after owing more than US$10.2
million to Equitable, Dorchester Finance Limited and other creditors.
The 56-room Fernhill hotel was built in the 1980s and is reportedly
valued at US$4.1 million. The property sits on a 1.25-hectare
freehold site including four self-contained apartments, a licensed
restaurant and bar, a lounge and games room, a spa and other
facilities. The sale also includes an additional 932-square-metre
parcel of land. |
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| Tata
Group’s hospitality arm, Indian Hotels, has increased
its stake in luxury hotel chain operator, Orient Express (Orient),
to 9.7% after its subsidiary, Samsara Properties, agreed to
purchase an aggregate of 2,250,000 shares at a price of US$5.75
per share or approximately US$12.93 million. Indian Hotels previously
held an 11.5% stake in Orient; however, this dipped to 9.57%
after a fresh issue of shares by the hotel operator. According
to Indian Hotels, the acquisition, funded by a loan from ICICI
Bank UK PLC, will allow them to remain a significant shareholder. |
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| According
to industry experts, Thailand’s tourism industry is anticipated
to experience a 35% drop in annual revenues due to the combined
effects of the prolonged political instability and the global
economic situation. The influenza A (H1N1) flu epidemic has
not helped the situation, although its effects are expected
to remain muted as Asia is well prepared to handle such a potential
health crisis in the wake of the SARS crisis in 2003. The Thai
government has made tourism its top priority as it accounts
for 5% of its GDP and employs up to 7% of the total workforce.
Initiatives like reduced visa fees and flight landing charges
have been implemented to attract visitor arrivals, which are
projected to hover around 11 million visitors in 2009, three
million less than 2008. |
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Absolute
Share Price Performance, as at 8 May 2009 |
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Closing Share Price as at |
8
May 2009 |
1
May 2009 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.22 |
4.12 |
2% |
| General
Property Group |
0.48 |
0.44 |
8% |
| Mirvac
Group |
1.05 |
1.07 |
-2% |
| Ocean
Capital Limited |
0.30 |
0.24 |
25% |
| Thakral
Holdings Group |
0.26 |
0.27 |
-4% |
| Living
and Leisure Australia Group |
0.02 |
0.02 |
-14% |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
3.00 |
3.04 |
-1% |
| Dusit
Thani Public Co Ltd |
21.50 |
20.10 |
7% |
| The
Erawan Group Public Limited |
1.55 |
1.33 |
17% |
| Grande
Asset Development |
1.53 |
1.69 |
-9% |
| Laguna
Resorts & Hotel Public Co Ltd |
27.00 |
24.10 |
12% |
| Minor
International PCL |
7.40 |
6.40 |
16% |
| China
Shanghai Stock Exchange (RMB) |
| Shanghai
Jinjiang International Hotels Development |
18.84 |
16.95 |
11% |
| Beijing
Capital Tourism Co Ltd |
17.40 |
16.37 |
6% |
| Jinling
Hotel Corporation Ltd |
6.64 |
6.16 |
8% |
| China
Shenzhen Stock Exchange (RMB) |
| Hunan
Huatian Great Hotel Co Ltd |
11.18 |
10.68 |
5% |
| Guangzhou
Dong Fang Hotel Co Ltd |
7.21 |
6.09 |
18% |
| Shenzhen
Century Plaza Hotel Co Ltd |
4.18 |
4.01 |
4% |
| NASDAQ
(US$) |
|
Home Inns & Hotels Management Inc |
13.80 |
13.16 |
5% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
6.06 |
5.71 |
6% |
| Regal
Hotels International Holdings Ltd |
1.73 |
1.50 |
15% |
| Sino
Hotels Holdings Ltd |
2.55 |
2.50 |
2% |
| The
Hong Kong & Shanghai Hotels Ltd |
6.84 |
5.91 |
16% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.29 |
0.23 |
26% |
| ART
Management Pte Ltd |
0.68 |
0.50 |
35% |
| Banyan
Tree Holdings Limited |
0.56 |
0.35 |
60% |
| CDL
HTrust |
0.76 |
0.58 |
30% |
| Hotel
Grand Central Ltd |
0.58 |
0.55 |
5% |
| Hotel
Plaza Ltd |
0.92 |
0.92 |
0% |
| Hotel
Properties Ltd |
1.30 |
1.02 |
27% |
| Mandarin
Oriental International Ltd (US$) |
1.05 |
0.99 |
6% |
| Shangri-La
Asia Ltd (HK$) |
10.00 |
11.00 |
-9% |
| Stamford
Land |
0.34 |
0.25 |
36% |
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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. |
