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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 13 November 2009 |
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It was reported that boutique hotels in Singapore generally
experienced a 20% increase in business due to the
Asia-Pacific Economic Cooperation (APEC) meetings held
during the month of November. The 288-key Link Hotel, which
is located in Tiong Bahru, was reported to be almost fully
booked and it has been offering business packages including
free internet and buffet meals since October. Similarly, the
40-key Naumi Hotel, which is located nearer to the meetings
venue, was also reported to be fully booked. |
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Phoenix Hospitality Company (Phoenix) has entered into a
management agreement with Marriott International to develop
two hotels within its mixed-use projects in Mumbai and Agra,
India. To be developed within Kurla Complex in Mumbai, the
300-key Marriott at Kurla is expected to be developed within
a 101,000-square-metre site which is likely to include
125,000 square metres of retail facilities and 111,500
square metres of office space. The Courtyard by Marriott at
Agra is likely to offer 165 rooms and forms part of the
Phoenix Market City project. The two projects are estimated
to cost a total of US$69 million. |
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Scenic Hotel Group has announced that it will be selling the
63-key Cotswold Hotel in Christchurch, New Zealand, as it
does not form part of Scenic Group's core business. The
impending sale comes after the group renamed itself from
Scenic Circle and rebranded its hotels as Heartland or
Scenic. The hotel, located along Papanui Road, has been held
by Scenic Hotel Group for 20 years. Recently, it also opened
a new US$19 million eco-style hotel, Te Waonui Forest
Retreat, at Franz Josef in south Westland. |
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Galaxy Entertainment Group Limited (Galaxy), a casino operator
owned by the family of Hong Kong businessman Lui Che-Woo,
has announced that its new casino resort in Macau is
expected to commence operations by the first quarter of
2011. According to Galaxy, the company has budgeted
approximately US$1.8 billion for the project. This project
will be Galaxy’s fifth development in Macau, the Starworld
Casino which opened in October 2008 was its last entry. |
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Home Inns and Hotels Management Inc (Home Inns) generated
approximately US$107 million in total revenue for the third
quarter of 2009, reflecting a 38% growth from the same
period in 2008. Operating revenue for this period was
recorded at US$15.8 million, a significant increase from
US$6.1 million in 2008. Net profits were registered at
approximately US$12.7 million. Home Inns has attributed the
growth to the improved business conditions in China and the
measures it took during the slowdown. In the second quarter
of 2009, Home Inns opened 36 new hotels, out of which eight
are operated while 28 are franchised hotels. |
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According to reports, the Asian real estate market continues
to improve in the third quarter of 2009, with values
stabilising and business sentiments improving. Direct real
estate investments in this period were recorded at
approximately US$9.1 billion, reflecting a 25% growth from
the third quarter of 2008. However, transaction activities
for the first nine months of 2009 remained weak as they
registered a decline of almost 50% from the same period in
2008. It was also reported that foreign investors have
become more active in Asia in the third quarter, as they
made up 21% of total volume, as compared to 6% and 9%
registered for the first and second quarters, respectively. |
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Absolute Share Price Performance, as at
13 November 2009
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Closing Share Price as at |
13 Nov 2009 |
5 Nov 2009 |
% Change |
Australia Stock Exchange (ASX) |
Amalgamated Holdings Limited |
5.80 |
6.15 |
-6% |
General Property Group |
0.65 |
0.58 |
12% |
Mirvac Group |
1.56 |
1.39 |
13% |
Ocean Capital Limited |
0.35 |
0.39 |
-10% |
Thakral Holdings Group |
0.38 |
0.40 |
-5% |
Living and Leisure Australia Group |
0.03 |
0.03 |
3% |
Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
4.22 |
4.22 |
– |
Dusit Thani Public Co Ltd |
30.00 |
31.00 |
-3% |
The Erawan Group Public Co Ltd |
2.46 |
2.52 |
-2% |
Grande Asset Hotels and Property Public Co Ltd |
1.39 |
1.33 |
5% |
Laguna Resorts & Hotel Public Co Ltd |
43.25 |
40.00 |
8% |
Minor International Public Co Ltd |
11.00 |
10.90 |
1% |
China Shanghai Stock Exchange (RMB) |
Shanghai Jinjiang International Hotels Development |
22.96 |
22.50 |
2% |
Beijing Capital Tourism Co Ltd |
19.69 |
18.80 |
5% |
Jinling Hotel Corporation Ltd |
8.15 |
7.75 |
5% |
China Shenzhen Stock Exchange (RMB) |
Hunan Huatian Great Hotel Co Ltd |
7.64 |
7.30 |
5% |
Guangzhou Dong Fang Hotel Co Ltd |
8.25 |
8.24 |
0% |
Shenzhen Century Plaza Hotel Co Ltd |
7.85 |
7.31 |
7% |
NASDAQ (US$) |
Home Inns & Hotels Management Inc |
35.44 |
32.12 |
10% |
Hong Kong Stock Exchange (HK$) |
Miramar Hotel & Investment Co Ltd |
8.50 |
8.35 |
2% |
Regal Hotels International Holdings Ltd |
2.95 |
2.83 |
4% |
Sino Hotels Holdings Ltd |
2.30 |
2.31 |
0% |
The Hong Kong & Shanghai Hotels Ltd |
11.68 |
10.76 |
9% |
Korea Exchange (KRW) |
The Shilla |
17,900 |
17,350 |
3% |
Singapore Stock Exchange (S$) |
Amara Holdings Ltd |
0.50 |
0.47 |
6% |
ART Management Limited |
1.05 |
1.05 |
– |
Banyan Tree Holdings Limited |
0.75 |
0.79 |
-5% |
CDL HTrust |
1.52 |
1.50 |
1% |
Hotel Grand Central Ltd |
0.66 |
0.64 |
3% |
Hotel Properties Ltd |
2.05 |
1.98 |
4% |
Mandarin Oriental International Ltd (US$) |
1.29 |
1.24 |
4% |
Pan Pacific Hotels Group Limited |
1.35 |
1.38 |
-2% |
Shangri-La Asia Limited (HK$) |
14.80 |
14.80 |
0% |
Stamford Land Corporation Ltd |
0.41 |
0.40 |
2% |
Taiwan Stock Exchange (NT$) |
Formosa International Hotels Corporation |
423.50 |
403.00 |
5% |
The Ambassador Hotel, Ltd |
38.30 |
33.00 |
16% |
Tokyo Stock Exchange (JPY) |
Nippon Hotel Fund Investment Corporation |
152,400 |
155,000 |
-2% |
Japan Hotel and Resort Inc |
125,000 |
127,200 |
-2% |
Imperial Hotel, Ltd |
1,800 |
1,830 |
-2% |
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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. |