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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 13 November 2009
Boutique Hotels See Increased Business During APEC Meetings In Singapore
Phoenix Signs Two New Deals For Marriott Hotels In India
Scenic Hotel Group To Sell Cotswold Hotel In Christchurch
Galaxy To Open New Casino In Macau By First Quarter Of 2011
Home Inns’ Total Revenue Grows By 38% In Third Quarter 2009
Asian Real Estate Market Continues To Improve In Third Quarter
Absolute Share Price Performance, As At 13 November 2009
Boutique Hotels See Increased Business During APEC Meetings In Singapore Return to Headlines
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.
Phoenix Signs Two New Deals For Marriott Hotels In India Return to Headlines
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.
Scenic Hotel Group To Sell Cotswold Hotel In Christchurch Return to Headlines
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.
Galaxy To Open New Casino In Macau By First Quarter Of 2011 Return to Headlines
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.
Home Inns’ Total Revenue Grows By 38% In Third Quarter 2009 Return to Headlines
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.
Asian Real Estate Market Continues To Improve In Third Quarter Return to Headlines
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$9.1 billion, reflecting a 25% growth from the third quarter of 2008. However, transaction activities for the first nine months of 2009 remained weak as they registered a decline of almost 50% from the same period in 2008. It was also reported that foreign investors have become more active in Asia in the third quarter, as they made up 21% of total volume, as compared to 6% and 9% registered for the first and second quarters, respectively.
Absolute Share Price Performance, as at 13 November 2009
Closing Share Price as at 13 Nov 2009 5 Nov 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.80 6.15 -6%
General Property Group 0.65 0.58 12%
Mirvac Group 1.56 1.39 13%
Ocean Capital Limited 0.35 0.39 -10%
Thakral Holdings Group 0.38 0.40 -5%
Living and Leisure Australia Group 0.03 0.03 3%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 4.22 4.22
Dusit Thani Public Co Ltd 30.00 31.00 -3%
The Erawan Group Public Co Ltd 2.46 2.52 -2%
Grande Asset Hotels and Property Public Co Ltd 1.39 1.33 5%
Laguna Resorts & Hotel Public Co Ltd 43.25 40.00 8%
Minor International Public Co Ltd 11.00 10.90 1%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  22.96 22.50 2%
Beijing Capital Tourism Co Ltd 19.69 18.80 5%
Jinling Hotel Corporation Ltd 8.15 7.75 5%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 7.64 7.30 5%
Guangzhou Dong Fang Hotel Co Ltd 8.25 8.24 0%
Shenzhen Century Plaza Hotel Co Ltd 7.85 7.31 7%
Home Inns & Hotels Management Inc 35.44 32.12 10%
Hong Kong Stock Exchange (HK$)
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%
Return to Headlines
HVS Beijing
Michael Schwarz
HVS Hong Kong
Mark Keith & Daniel Voellm
HVS Mumbai
Manav Thadani
HVS New Delhi
Manav Thadani
HVS Shanghai
Adeline Phua
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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