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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 20 November 2009
YTL To Reposition Starhill REIT As Global Hospitality REIT
Nitesh Plans To Raise US$215 Million For Ritz-Carlton In Chennai
Vietnam To Invest In Myanmar's Hotel Industry
Beijing Witnesses An Increase In International Arrivals In October
TA Enterprise Berhad Expects Earnings To Triple Following Acquisition
Vietnam Clarifies Foreign Ownership Rules
Absolute Share Price Performance, As At 20 November 2009
YTL To Reposition Starhill REIT As Global Hospitality REIT Return to Headlines
Malaysia's YTL Corp Berhad (YTL) has announced plans to position Starhill REIT as a US$470 million international hospitality REIT by injecting new hotel assets and disposing two retail properties. The hotel assets in the portfolio currently include JW Marriott Hotel Kuala Lumpur and 60 units of serviced apartments within the Residences at the Ritz-Carlton Kuala Lumpur. YTL also mentioned the possibility of adding resorts in Pangkor Laut, Tanjong Jara and Cameron Highlands, and the Vistana hotel chain in Kuala Lumpur, Kuantan and Penang which could be added to the portfolio.
Nitesh Plans To Raise US$215 Million For Ritz-Carlton In Chennai Return to Headlines
Real estate developer, Nitesh Estates, is reported to be planning to raise approximately US$215 million through the sale of shares to finance the development of a Ritz-Carlton hotel in Chennai, India. To be located on 36,400 square metres of land in Chennai's Boat Club area and estimated to cost approximately US$323 million, the overall development is envisaged to feature 9,300 square metres of luxury retail space in addition to the hotel. In early November 2009, Nitesh had entered into a management agreement with Ritz-Carlton on a 200-key hotel and 80 serviced residences.
Vietnam To Invest In Myanmar's Hotel Industry Return to Headlines
According to the Myanmar Hoteliers Association, Vietnamese businessmen will invest in a hotel in Yangon for the first time. The proposed hotel is likely to be located along Kaba Aye Pagoda Road, in close proximity to Sedona Hotel, Yangon. It was also reported that a Vietnamese airline is planning to add Myanmar as a new flight route. Currently, the city has five other foreign-invested hotels, out of which three are from Thailand and one each from China and Singapore.
Beijing Witnesses An Increase In International Arrivals In October Return to Headlines
According to the Beijing Statistics Bureau, Beijing recorded approximately 430,000 international arrivals in October 2009, reflecting an 8% growth from the same month last year. Out of the international arrivals, arrivals from Hong Kong, Macau and Taiwan rose by 62% to record 72,000. Among the growth markets, Japan registered a 28% increase to 50,000 arrivals while arrivals from the United States recorded 64,000 to reflect a 7% growth. On the other hand, visitors from Korea declined by almost 20% to 25,000 arrivals as compared to the same period in 2008.
TA Enterprise Berhad Expects Earnings To Triple Following Acquisition Return to Headlines
TA Enterprise Berhad (TA) expects its earnings from hotel operations to triple in 2010 following the acquisition of its fourth hotel, the Swiss˘tel Merchant Court in Singapore. Revenue from its hotel operations totalled approximately US$23 million, or about 14% of the group's sales, for the financial year ending 31 January 2009. Currently, TA owns three other hotel assets: the Westin Melbourne, Radisson Plaza Hotel Sydney and Aava Whistler Hotel in Canada.
Vietnam Clarifies Foreign Ownership Rules Return to Headlines
According to an official statement, Vietnamese authorities have announced that foreigners are allowed to own an apartment in Vietnam for up to 50 years. Foreigners include investors, persons who contribute to national development, experts in various fields, persons with a Vietnamese spouse, and non-real estate companies. Foreign owners will have to sell or transfer the house when the ownership tenure ends. In addition, the statement announced that foreign buyers will receive their ownership titles within 30 days of submitting applications to the construction department.
Absolute Share Price Performance, as at 20 November 2009
Closing Share Price as at 20 Nov 2009 13 Nov 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.49 5.80 -5%
General Property Group 0.64 0.65 -2%
Mirvac Group 1.54 1.56 -1%
Ocean Capital Limited 0.35 0.35
Thakral Holdings Group 0.37 0.38 -3%
Living and Leisure Australia Group 0.03 0.03
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 4.12 4.22 -2%
Dusit Thani Public Co Ltd 30.00 30.00
The Erawan Group Public Co Ltd 2.48 2.46 1%
Grande Asset Hotels and Property Public Co Ltd 1.38 1.39 -1%
Laguna Resorts & Hotel Public Co Ltd 43.25 43.25
Minor International Public Co Ltd 10.40 11.00 -5%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  22.33 22.96 -3%
Beijing Capital Tourism Co Ltd 22.73 19.69 15%
Jinling Hotel Corporation Ltd 8.75 8.15 7%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 8.77 7.64 15%
Guangzhou Dong Fang Hotel Co Ltd 9.03 8.25 9%
Shenzhen Century Plaza Hotel Co Ltd 7.96 7.85 1%
Home Inns & Hotels Management Inc 36.05 35.44 2%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.60 8.50 1%
Regal Hotels International Holdings Ltd 3.26 2.95 11%
Sino Hotels Holdings Ltd 2.38 2.30 3%
The Hong Kong & Shanghai Hotels Ltd 11.74 11.68 1%
Korea Exchange (KRW)
The Shilla  18,700 17,900 4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.50 0.50
ART Management Limited 1.04 1.05 -1%
Banyan Tree Holdings Limited 0.74 0.75 -1%
CDL HTrust  1.46 1.52 -4%
Hotel Grand Central Ltd 0.69 0.66 5%
Hotel Properties Ltd 2.05 2.05
Mandarin Oriental International Ltd (US$) 1.30 1.29 1%
Pan Pacific Hotels Group Limited 1.40 1.35 4%
Shangri-La Asia Limited (HK$) 14.50 14.80 -2%
Stamford Land Corporation Ltd 0.40 0.41 -2%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  411.00 423.50 -3%
The Ambassador Hotel, Ltd  38.20 38.30 0%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  142,900 152,400 -6%
Japan Hotel and Resort Inc 117,300 125,000 -6%
Imperial Hotel, Ltd  1,809 1,800 0%
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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