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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 30 October 2009
GPT Finalising Sale of Four Points By Sheraton In Sydney
Boutique Hotel Developer Planning To Expand Portfolio
Hotels in Asia Pacific Record Mixed Results In September 2009
Heritage Wing Of Taj Hotel To Open In Mumbai
Ritz-Carlton To Open In Hong Kong's Tallest Building
Growing Interests In China's Outward Direct Investment In Real Estate
Absolute Share Price Performance, As At 30 October 2009
GPT Finalising Sale of Four Points By Sheraton In Sydney Return to Headlines
The GPT Group (GPT) has entered into an exchange of contracts for the sale of Four Points by Sheraton, Darling Harbour, Sydney, with an offshore investor. The sale price for the 630-room hotel is reported to be approximately US$167 million at a yield of 8.8% and the transaction is expected to be completed by the end of 2009. GPT has announced that the sale of its hotel assets has allowed the group to remain focussed on its core business of retail, office and business park/industrial real estate. The sales of GPT's remaining hotel assets, Brampton Island Resort and Ayers Rock Resort, are also currently underway.
Boutique Hotel Developer Planning To Expand Portfolio Return to Headlines
National Properties Holdings, a wholly owned subsidiary of Hong Kong-listed National Electronics Holdings, has announced plans to expand its hotel portfolio over the next three years. Currently, the group has two boutique hotels in operation: the 50-key Le Rivage in Western and the 28-key Putman in Central. An additional three hotels are currently under development across Hong Kong while another boutique hotel located at Queen's Road Central is expected to break ground before the end of 2009.
Hotels in Asia Pacific Record Mixed Results In September 2009 Return to Headlines
Overall, according to STR Global, hotels in Asia Pacific have recorded an average occupancy of 62.3% in September 2009, reflecting a 1.4-percentage-point growth from September 2008. Average rates declined by 7.7% from the previous year to record US$123.72. Among the key cities, Beijing recorded the highest occupancy growth at 18.8 percentage points, followed by Phuket (13.3 percentage points) and Sydney (10.5 percentage points). In terms of average rate growth, Bali led the Asia Pacific cities by registering a 15.4% growth from the previous year to record US$130.64. Tokyo and Osaka also witnessed double-digit average rate growth during the same period.
Heritage Wing Of Taj Hotel To Open In Mumbai Return to Headlines
Indian Hotels Company Limited, owner of the Taj hotel chain, has announced the partial opening of the heritage wing of the Taj Mahal Palace and Tower Hotel, a day before the first anniversary of the terrorist attack on its Mumbai property. The rooms, food and beverage outlets and ballroom in the hotel will be opened in phases between December 2009 and April 2010. The company is also looking to open hotels in countries such as Mexico, Morocco and other overseas markets.
Ritz-Carlton To Open In Hong Kong's Tallest Building Return to Headlines
Luxury hotel chain Ritz-Carlton has announced the opening of a 312-room hotel in Hong Kong's tallest building, the 484-metre International Commerce Centre (ICC) in 2010. Occupying the top 17 floors of the ICC, the top floor of the hotel is expected to be on the 118th storey and will overlook Hong Kong's Victoria Harbour from Kowloon where the ICC is located.
Growing Interests In China's Outward Direct Investment In Real Estate Return to Headlines
According to market sources, there has been increasing interest in the acquisition of overseas properties by Chinese entities. This is due to the rising affluence of mainland Chinese residents and growing financial strength of mainland Chinese companies, as well as the increase in mergers and acquisitions of foreign companies. In addition, demand for overseas has been driven by emigration needs and high net-worth individuals looking to diversify their portfolio.
Absolute Share Price Performance, as at 30 October 2009
Closing Share Price as at 30 Oct 2009 23 Oct 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.97 5.85 2%
General Property Group 0.59 0.64 -9%
Mirvac Group 1.50 1.63 -8%
Ocean Capital Limited 0.39 0.40
Thakral Holdings Group 0.44 0.44 -1%
Living and Leisure Australia Group 0.03 0.03 -3%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 4.20 4.28 -2%
Dusit Thani Public Co Ltd 31.00 32.00 -3%
The Erawan Group Public Co Ltd 2.42 2.44 -1%
Grande Asset Hotels and Property Public Co Ltd 1.32 1.30 2%
Laguna Resorts & Hotel Public Co Ltd 38.25 35.75 7%
Minor International Public Co Ltd 10.70 10.90 -2%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  20.15 19.90 1%
Beijing Capital Tourism Co Ltd 16.50 18.02 -8%
Jinling Hotel Corporation Ltd 7.17 7.56 -5%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 6.90 7.32 -6%
Guangzhou Dong Fang Hotel Co Ltd 7.49 7.94 -6%
Shenzhen Century Plaza Hotel Co Ltd 6.82 6.87 -1%
Home Inns & Hotels Management Inc 30.79 -100%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.55 8.45 1%
Regal Hotels International Holdings Ltd 2.93 2.98 -2%
Sino Hotels Holdings Ltd 2.39 2.36 1%
The Hong Kong & Shanghai Hotels Ltd 11.14 10.94 2%
Korea Exchange (KRW)
The Shilla  17,700 18,300 -3%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.50 0.53 -6%
ART Management Limited 1.06 1.05 1%
Banyan Tree Holdings Limited 0.81 0.90 -10%
CDL HTrust  1.59 1.58 1%
Hotel Grand Central Ltd 0.66 0.70 -6%
Hotel Properties Ltd 2.09 2.26 -8%
Mandarin Oriental International Ltd (US$) 1.27 1.35 -6%
Pan Pacific Hotels Group Limited 1.31 1.36 -4%
Shangri-La Asia Limited (HK$) 15.20 15.02 1%
Stamford Land Corporation Ltd 0.41 0.42
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  412.50 410.00 1%
The Ambassador Hotel, Ltd  33.40 33.15 1%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  158,900 156,900 1%
Japan Hotel and Resort Inc 129,000 129,300 0%
Imperial Hotel, Ltd  1,825 1,860 -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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