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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 2 October 2009 |
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As a result of the economic downturn, W Hotels, part of
Starwood Hotels and Resorts Worldwide, has cancelled its
intention to manage a luxury hotel located in Shanghai
International Financial Centre (IFC) in Lujiazui, part of
the Pudong financial district. Owned by Sun Hung Kai
Properties (SHKP), the proposed hotel in Shanghai IFC is
scheduled to open in 2010 while the entire development is
expected to be completed by the first half of 2011.
According to market sources, SHKP might convert the rooms
which were to be managed by W Hotels into serviced
apartments units. |
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Banyan Tree Holdings Limited's wholly owned subsidiary, Banyan
Tree Hotels and Resorts Private Limited, has announced plans
to invest approximately US$1.76 million in a joint venture
with Jiuzhaigou Hon-Yee Investment Company Limited (JHY) to
develop a hotel, including villas for sale and leaseback, in
Baohua Village, Jiuzhaigou County, Sichuan Province, China.
The joint venture will be incorporated in China and Banyan
Tree will take up minority equity of about 20% in the joint
venture company, while JHY will take up the remaining
stakes. |
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Dalian Wanda Group Corporation Limited (Wanda), which
specialises in the development of real estate, hotels and
departmental stores, has begun the construction of its third
Wanda Plaza in Wuhan, Hubei Province. The mixed-use
development, which costs a total of approximately US$1.03
billion, will offer 620,000 square metres of gross floor
area, consisting of a luxury hotel, an office building and
residential apartments. Wanda plans to develop another three
Wanda Plazas by end of 2009, bringing its total investments
in Wuhan to US$5.87 billion. Currently, Wanda operates 21
Wanda Plazas across China and 30 more are in the pipeline. |
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The 571-key Traders Hotel Kuala Lumpur, which opened in 2006,
is expecting to witness a marginal decline in both its
occupancy and average room rate in 2009 as compared to 2008.
As such, the hotel is likely to maintain its position as the
top four-star hotel in Kuala Lumpur, outperforming even some
of the five-star hotels. Owned by KLCC (Holdings) Sdn Bhd,
the hotel has successfully changed its guest mix, from 85%
of business guests in 2007 to the current 70%, during the
economic downturn. According to the hotel management,
average room rate is forecast to grow by 2% to 4% in 2010. |
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Residents of Penghu Island off the Straits of Taiwan have
voted against the proposal of a casino resort on the island
by a margin of 56% to 44%. The project, which is backed by
Las Vegas-based Navegante Group, had initially planned for a
600-key hotel and 12,000-square-metre casino along a 27-acre
beachfront site on the island. The result of the referendum,
which only saw 42% of Penghu's registered voters casting
votes, meant that the plan for a casino has to be shelved
till 2012. Navegante Group is currently contemplating if it
should go ahead with a non-casino development first. |
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According to the weekly Centa-City Leading Index, Hong Kong
home prices have risen 26% in 2009. The recovery in Hong
Kong's residential market was due mainly to purchases by
mainland Chinese buyers and lower mortgage rates offered
compared to London and New York. Particularly, the luxury
segment outperformed the housing market, driven by the
shortage of new supply in the luxury market and improving
stock market. According to the Land Registry figures, sales
of all residential properties totalled approximately US$5.3
billion in August 2009 compared to a year earlier. |
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Absolute Share Price Performance, as at
2 October 2009
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Closing Share Price as at |
2 Oct 2009 |
25 Sept 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings Limited |
5.15 |
5.28 |
-2% |
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General Property Group |
0.64 |
0.64 |
-1% |
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Mirvac Group |
1.60 |
1.53 |
5% |
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Ocean Capital Limited |
0.40 |
0.40 |
– |
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Thakral Holdings Group |
0.42 |
0.39 |
6% |
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Living and Leisure Australia Group |
0.03 |
0.03 |
-15% |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
4.74 |
4.20 |
13% |
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Dusit Thani Public Co Ltd |
32.00 |
32.75 |
-2% |
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The Erawan Group Public Co Ltd |
2.58 |
2.44 |
6% |
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Grande Asset Hotels and Property Public Co Ltd |
1.35 |
1.35 |
– |
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Laguna Resorts & Hotel Public Co Ltd |
35.00 |
33.75 |
4% |
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Minor International Public Co Ltd |
12.70 |
12.00 |
6% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
17.73 |
18.75 |
-5% |
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Beijing Capital Tourism Co Ltd |
15.99 |
17.81 |
-10% |
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Jinling Hotel Corporation Ltd |
6.70 |
7.28 |
-8% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
6.49 |
6.79 |
-4% |
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Guangzhou Dong Fang Hotel Co Ltd |
6.77 |
7.36 |
-8% |
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Shenzhen Century Plaza Hotel Co Ltd |
4.98 |
5.49 |
-9% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
28.50 |
28.42 |
– |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel & Investment Co Ltd |
8.50 |
8.18 |
4% |
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Regal Hotels International Holdings Ltd |
2.69 |
2.64 |
2% |
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Sino Hotels Holdings Ltd |
2.43 |
2.41 |
1% |
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The Hong Kong & Shanghai Hotels Ltd |
10.28 |
10.74 |
-4% |
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Korea Exchange (KRW) |
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The Shilla |
16,900 |
15,850 |
7% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.49 |
0.54 |
-9% |
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ART Management Limited |
0.96 |
0.97 |
-1% |
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Banyan Tree Holdings Limited |
0.83 |
0.90 |
-8% |
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CDL HTrust |
1.41 |
1.52 |
-7% |
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Hotel Grand Central Ltd |
0.69 |
0.71 |
-3% |
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Hotel Properties Ltd |
2.06 |
2.46 |
-16% |
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Mandarin Oriental International Ltd (US$) |
1.30 |
1.31 |
-1% |
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Pan Pacific Hotels Group Limited |
1.42 |
1.45 |
– |
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Shangri-La Asia Limited (HK$) |
14.06 |
14.26 |
-1% |
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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 |
397.00 |
400.00 |
-1% |
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The Ambassador Hotel, Ltd |
31.25 |
33.55 |
-7% |
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Tokyo Stock Exchange (JPY) |
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Nippon Hotel Fund Investment Corporation |
155,000 |
159,600 |
-3% |
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Japan Hotel and Resort Inc |
128,200 |
128,100 |
– |
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Imperial Hotel, Ltd |
1,820 |
1,826 |
– |
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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. |
