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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 23 October 2009 |
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As a result of India's unique hospitality business model which
places a high emphasis on food and beverage facilities,
‘select service hotels' in the mid-market segment do not
exist. According to industry estimates, food and beverages
account for around one-third of a hotel's overall revenues
and the total ancillary services, including the renting of
banquet halls, spas and nightclubs, in a five-star hotel
could account for approximately 45% of a hotel's business in
India. Due to the nature of the hospitality landscape in
India, mid-market hotels such as Courtyard by Marriott
features elaborate food and beverage services. Additionally,
HVS India has pointed out that the high real estate costs in
India, which stand at around 35% to 40% of total project
costs, are also one of the reasons for international hotel
brands having to take a higher positioning than their global
standards. |
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According to the Indonesian Transport Ministry, the European
Union (EU) is expected to remove its travel ban on 37 of
Indonesia's airlines in 2010. This is following the
country's improved air safety standards which resulted in
the lifting of the restriction on four leading Indonesian
carriers in July 2009. Although it is less likely for the
Indonesian airlines to fly to Europe, the removal of the
travel ban is likely to improve their image in the eyes of
European visitors to Indonesia. |
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Macau's recovery in the gaming industry, which was reflected
by Wynn Macau's recent 13% growth in stock prices, has
revived hopes for the approval of casino developments in
Taiwan. Its southern offshore island, Penghu, has voted
against the referendum for casino developments in September
2009. However, investors have recently shifted their focus
to the islands of Kinmen, which are located off the
southeastern coast of China. According to reports, the
Kinmen authorities are planning to hold a similar referendum
by early 2010. |
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The global launch of the Ritz-Carlton Hotel (Ritz-Carlton)
group's new Ritz-Carlton Reserve brand is scheduled to take
place in Thailand. Phulay Bay, A Ritz-Carlton Reserve is set
to make its debut in Krabi, Thailand, by December 2009. The
resort, which features 54 keys, will be the flagship
property of the brand in Asia. Owned by PB Partner Group,
the resort was developed at a total investment cost of
approximately US$90 million. According to Ritz-Carlton, the
company is targeting to manage at least 20 properties under
the brand in Asia by 2014. |
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According to interviews with luxury hotel operators, the high
cost of land and lack of suitable sites are limiting their
plans to expand in Hong Kong. Although the Hong Kong
authorities have piloted a hotel-only site tender scheme
last year, the Central Business District (CBD) is still
facing a shortage in luxury room supply due to an exodus of
hotels since 2000. Furama, Hilton and Ritz-Carlton are
examples of hotels which had exited the market as a result
of conversions. Currently, Hong Kong offers approximately
14,700 luxury rooms, with 1,000 rooms located in the CBD. |
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Sumitomo Trust and Banking has announced plans to partner
French insurer group, AXA, to set up a US$1.1 billion real
estate investment fund to buy office buildings in Tokyo.
Tokyo's office market was the most active globally in the
first half of 2009 as investors return to the market after
the global credit crunch lowered property values and
squeezed financing. The new fund is expected to be ready by
2010 and approximately US$550 million of the funds will be
from global investors while the remaining amount will be
sought in lending from financial institutions. |
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Absolute Share Price Performance, as at
23 October 2009
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Closing Share Price as at |
23 Oct 2009 |
16 Oct 2009 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings Limited |
5.85 |
5.74 |
2% |
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General Property Group |
0.64 |
0.66 |
-2% |
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Mirvac Group |
1.63 |
1.64 |
-1% |
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Ocean Capital Limited |
0.40 |
0.40 |
– |
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Thakral Holdings Group |
0.44 |
0.44 |
1% |
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Living and Leisure Australia Group |
0.03 |
0.04 |
-11% |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
4.28 |
4.26 |
0% |
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Dusit Thani Public Co Ltd |
32.00 |
31.00 |
3% |
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The Erawan Group Public Co Ltd |
2.44 |
2.56 |
-5% |
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Grande Asset Hotels and Property Public Co Ltd |
1.30 |
1.30 |
0% |
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Laguna Resorts & Hotel Public Co Ltd |
35.75 |
35.50 |
1% |
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Minor International Public Co Ltd |
10.90 |
11.60 |
-6% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
19.90 |
19.41 |
3% |
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Beijing Capital Tourism Co Ltd |
18.02 |
17.06 |
6% |
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Jinling Hotel Corporation Ltd |
7.56 |
7.04 |
7% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
7.32 |
7.04 |
4% |
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Guangzhou Dong Fang Hotel Co Ltd |
7.94 |
7.77 |
2% |
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Shenzhen Century Plaza Hotel Co Ltd |
6.87 |
6.06 |
13% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
30.79 |
31.03 |
-1% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel & Investment Co Ltd |
8.45 |
8.31 |
2% |
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Regal Hotels International Holdings Ltd |
2.98 |
2.80 |
6% |
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Sino Hotels Holdings Ltd |
2.36 |
2.37 |
0% |
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The Hong Kong & Shanghai Hotels Ltd |
10.94 |
10.28 |
6% |
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Korea Exchange (KRW) |
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The Shilla |
18,300 |
18,150 |
1% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.53 |
0.52 |
2% |
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ART Management Limited |
1.05 |
1.03 |
2% |
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Banyan Tree Holdings Limited |
0.90 |
0.88 |
2% |
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CDL HTrust |
1.58 |
1.57 |
1% |
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Hotel Grand Central Ltd |
0.70 |
0.69 |
1% |
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Hotel Properties Ltd |
2.26 |
2.22 |
2% |
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Mandarin Oriental International Ltd (US$) |
1.35 |
1.27 |
6% |
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Pan Pacific Hotels Group Limited |
1.36 |
1.40 |
-3% |
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Shangri-La Asia Limited (HK$) |
15.02 |
15.34 |
-2% |
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Stamford Land Corporation Ltd |
0.42 |
0.42 |
– |
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Taiwan Stock Exchange (NT$) |
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Formosa International Hotels Corporation |
410.00 |
407.00 |
1% |
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The Ambassador Hotel, Ltd |
33.15 |
32.10 |
3% |
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Tokyo Stock Exchange (JPY) |
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Nippon Hotel Fund Investment Corporation |
156,900 |
157,200 |
0% |
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Japan Hotel and Resort Inc |
129,300 |
130,600 |
-1% |
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Imperial Hotel, Ltd |
1,860 |
1,808 |
3% |
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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. |
