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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 5 November 2009 |
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It was reported that China's Ministry of Housing and
Urban-Rural Development (MHURD) is unlikely to propose the
extension of stimulus measures introduced in October 2008 to
boost the property sector during the global financial
crisis. Taking effect on 1 November 2008, the measures
include discounts on mortgage rates, lowering of stamp duty
for purchase of apartments smaller than 90 square metres and
reducing the downpayment requirement to 20%. The mainland
Chinese property market has recovered solidly due to the
effectiveness of these measures. |
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Las Vegas Sands Corporation (Sands) is targeting to raise
US$2.5 billion through an initial public offering (IPO) in
Hong Kong. The plan, which has received preliminary approval
from the Hong Kong authorities, is likely to help inject
capital into its delayed projects in Macau. The projects,
which include a Shangri-La hotel, a Sheraton hotel and three
casinos within two neighbouring sites, have been delayed
since the onset of the global financial crisis. Wynn
Resorts, another casino operator, has also recently launched
its IPO worth US$1.63 billion in October 2009. |
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On the back of a year-on-year 16% decline in international
arrivals for the first nine months of 2009, Vietnam's luxury
hotels have witnessed substantial decline in their
occupancies. In the capital Hanoi, it was reported that
five-star hotels recorded an average occupancy of 55%, an
eight-percentage-point decline from the same period in 2008.
Similarly, five-star hotels in Ho Chi Minh City registered
an almost ten-percentage-point decline to average 49% in
year-to-date September figures. These figures reflected a
significant decline in the market which was recording
occupancy levels between 70% to 80% in 2007. |
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Berjaya Hotels and Resorts (Berjaya) is planning to spend
approximately US$38 million to refurbish its six existing
hotels in Malaysia. The plan includes a US$15 million
refurbishment of the rooms and public areas at the 502-key
Berjaya Langkawi by the third quarter of 2010. In addition,
Berjaya Times Square Hotel, the company's best-performing
city hotel, will undergo a US$21 million upgrade by the
first quarter of 2011. It was reported that the Berjaya
hotels have generally maintained their revenue per available
room (RevPAR) in spite of the current economic slowdown.
They averaged 66% in occupancy in the financial year ending
April 2009. |
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Tune Hotels, controlled by Malaysian budget carrier AirAsia,
has announced that a total of 64 hotels are currently under
development across cities such as India, Thailand and
Indonesia. Presently, Tune Hotels operates seven hotels and
a further 64 hotels are scheduled to be completed by 2013.
In addition, the group is planning to launch Tune Hotels in
London, Melbourne and other Australian cities as AirAsia has
recently commenced new flights to these destinations. It was
also reported that Singapore, despite its high development
costs, and China are on the radar of the group. |
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Walt Disney Co has announced that it has received approval
from the mainland Chinese authorities to set up a Disney
Theme Park in Pudong District of Shanghai. To be developed
on a four-million-square-metre site, the development is
envisaged to include a Magic Kingdom-style theme park,
hotels and retail facilities. The project is expected to
cost a total of US$3.6 billion and forecast to be completed
within six years. It was reported that Walt Disney Co is
likely to own about 40% of the development while the
remaining shares are likely to be held by a holding company
formed by a consortium of Chinese companies. |
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Absolute Share Price Performance, as at
5 November 2009
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Closing Share Price as at |
5 Nov 2009 |
30 Oct 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings Limited |
6.15 |
5.97 |
3% |
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General Property Group |
0.58 |
0.59 |
-2% |
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Mirvac Group |
1.39 |
1.50 |
-7% |
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Ocean Capital Limited |
0.39 |
0.39 |
– |
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Thakral Holdings Group |
0.40 |
0.44 |
-8% |
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Living and Leisure Australia Group |
0.03 |
0.03 |
0% |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
4.22 |
4.20 |
0% |
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Dusit Thani Public Co Ltd |
31.00 |
31.00 |
– |
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The Erawan Group Public Co Ltd |
2.52 |
2.42 |
4% |
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Grande Asset Hotels and Property Public Co Ltd |
1.33 |
1.32 |
1% |
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Laguna Resorts & Hotel Public Co Ltd |
40.00 |
38.25 |
5% |
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Minor International Public Co Ltd |
10.90 |
10.70 |
2% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
22.50 |
20.15 |
12% |
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Beijing Capital Tourism Co Ltd |
18.80 |
16.50 |
14% |
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Jinling Hotel Corporation Ltd |
7.75 |
7.17 |
8% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
7.30 |
6.90 |
6% |
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Guangzhou Dong Fang Hotel Co Ltd |
8.24 |
7.49 |
10% |
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Shenzhen Century Plaza Hotel Co Ltd |
7.31 |
6.82 |
7% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
32.12 |
– |
– |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel & Investment Co Ltd |
8.35 |
8.55 |
-2% |
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Regal Hotels International Holdings Ltd |
2.83 |
2.93 |
-3% |
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Sino Hotels Holdings Ltd |
2.31 |
2.39 |
-3% |
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The Hong Kong & Shanghai Hotels Ltd |
10.60 |
11.14 |
-5% |
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Korea Exchange (KRW) |
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The Shilla |
17,350 |
17,700 |
-2% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.47 |
0.50 |
-6% |
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ART Management Limited |
1.05 |
1.06 |
-1% |
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Banyan Tree Holdings Limited |
0.79 |
0.81 |
-2% |
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CDL HTrust |
1.50 |
1.59 |
-6% |
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Hotel Grand Central Ltd |
0.64 |
0.66 |
-3% |
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Hotel Properties Ltd |
1.38 |
2.09 |
-34% |
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Mandarin Oriental International Ltd (US$) |
1.98 |
1.27 |
56% |
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Pan Pacific Hotels Group Limited |
1.24 |
1.31 |
-5% |
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Shangri-La Asia Limited (HK$) |
14.80 |
15.20 |
-3% |
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Stamford Land Corporation Ltd |
0.40 |
0.41 |
-2% |
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Taiwan Stock Exchange (NT$) |
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Formosa International Hotels Corporation |
403.00 |
412.50 |
-2% |
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The Ambassador Hotel, Ltd |
33.00 |
33.40 |
-1% |
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Tokyo Stock Exchange (JPY) |
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Nippon Hotel Fund Investment Corporation |
155,000 |
158,900 |
-2% |
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Japan Hotel and Resort Inc |
127,200 |
129,000 |
-1% |
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Imperial Hotel, Ltd |
1,830 |
1,825 |
0% |
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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. |
