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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 11 September 2009
Zuri Group Global To Invest In Hotels And Residential Projects
Six Senses To Manage Resort In Sri Lanka
Hotel In Singapore's Little India Up For Auction
China State Construction To Complete Revel Casino Development
Hotel Royal Taipei To Reopen After Major Renovation
Property Investments In China Forecast To Grow By 30% in 2010
Absolute Share Price Performance, As At 11 September 2009
Zuri Group Global To Invest In Hotels And Residential Projects Return to Headlines
Bangalore's Zuri Group Global (Zuri) has proposed to invest approximately US$249 million to build five-star business hotels and luxury residential properties by 2013. Reportedly, Zuri intends to open three to four hotels of 150 to 175 guestrooms each in Pune, Ahmedabad, Kolkata, Nagpur, Delhi and Mysore, amounting to an investment of US$166 million by 2013. In addition, the company has acquired six acres of land for a mixed-use development project near Bangalore airport at Devanahalli. The project is likely to include a five-star hotel of which construction work is expected to begin in January 2010, followed by the development of a mall and an office building at the later stage.
Six Senses To Manage Resort In Sri Lanka Return to Headlines
Six Senses Resorts and Spas has announced the management of an island resort in Sri Lanka, the Six Senses Hideaway at Dutch Bay, which is being set up by foreign investors. The Dutch Bay resort project is expected to be completed in two phases. Scheduled to be completed in 2011, Phase 1 of the Dutch Bay resort project in Kalpitiya is expected to cost approximately US$75 million and feature 60 mangrove chalets – two-storey villas with plunge pools – and 20 luxury villas along the lagoon. The US$100 million Phase 2 comprises 80 luxury residential villas to be sold as holiday or retirement homes under sale-and-leaseback plans.
Hotel In Singapore's Little India Up For Auction Return to Headlines
The Tekka Hotel, which consists of nine adjoining two-and-a-half-storey shophouses located in the Little India conservation area of Singapore, will be put up for auction at an indicative price of approximately US$11.9 million to US$13.4 million. Zoned for commercial use under the 2008 Master Plan, the property has nine titles and a 99-year leasehold tenure from 8 March 1995. Featuring some 50 guestrooms and six retail and food and beverage outlets, the hotel occupies a gross floor area of approximately 1,895 square metres.
China State Construction To Complete Revel Casino Development Return to Headlines
China State Construction Engineering Corp (China State Construction), the state-owned construction arm of the Chinese government, has concluded an agreement with New York's Tishman Construction Corp and Revel Entertainment Group LLC to finish the US$2.5 billion Revel Casino development in Atlantic City. The deal, which costs a total of US$1.7 billion, will allow China State Construction to complete the development by the middle of 2011. The 53-storey structure was recently completed but its interior works have been suspended since January 2009, due to the lack of credit flow.
Hotel Royal Taipei To Reopen After Major Renovation Return to Headlines
Hotel Royal Taipei, managed by Nikko Hotels International (Nikko Hotels), is scheduled to reopen in September 2009, in conjunction with its 25th anniversary celebrations. The hotel underwent a renovation of its guestrooms, food and beverage outlets and public spaces. Currently, Nikko Hotels manages a total of 58 hotels globally and new hotel openings within the next two years include the 388-key Hotel Nikko Shanghai in 2009 and the 500-room Hotel Nikko Wuxi and 411-room Hotel Nikko Guangzhou by 2010.
Property Investments In China Forecast To Grow By 30% in 2010 Return to Headlines
A central bank adviser has forecast that property investments in China are likely to grow by 30% as a result of developers carrying out land banking and planning for developments in 2010. Property sales increased by 60% in value for the first seven months of 2009 as compared to the same period in 2008 as property investments grew by approximately 12% within the same period. Currently, property investment makes up approximately one-third of total fixed asset spending in China, the world's third-largest economy.
Absolute Share Price Performance, as at 11 September 2009
Closing Share Price as at 11 September 2009 4 September 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.46 5.65 -3%
General Property Group 0.61 0.60 1%
Mirvac Group 1.56 1.45 8%
Ocean Capital Limited 0.40 0.40
Thakral Holdings Group 0.35 0.33 5%
Living and Leisure Australia Group 0.03 0.03 3%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.78 3.70 2%
Dusit Thani Public Co Ltd 28.00 27.00 4%
The Erawan Group Public Co Ltd 2.28 2.34 -3%
Grande Asset Hotels and Property Public Co Ltd 1.40 1.40
Laguna Resorts & Hotel Public Co Ltd 34.00 33.00 3%
Minor International Public Co Ltd 10.70 10.40 3%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  19.52 18.48 6%
Beijing Capital Tourism Co Ltd 19.89 18.97 5%
Jinling Hotel Corporation Ltd 7.29 7.05 3%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 6.97 6.58 6%
Guangzhou Dong Fang Hotel Co Ltd 7.54 7.13 6%
Shenzhen Century Plaza Hotel Co Ltd 6.16 5.99 3%
Home Inns & Hotels Management Inc 28.10 27.65 2%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 7.95 7.60 5%
Regal Hotels International Holdings Ltd 2.53 2.47 2%
Sino Hotels Holdings Ltd 2.50 2.53 -1%
The Hong Kong & Shanghai Hotels Ltd 9.50 8.79 8%
Korea Exchange (KRW)
The Shilla  15,650 14,700 6%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.57 0.53 8%
ART Management Limited 0.97 0.91 7%
Banyan Tree Holdings Limited 0.92 0.89 3%
CDL HTrust  1.45 1.40 4%
Hotel Grand Central Ltd 0.71 0.73 -3%
Hotel Properties Ltd 2.38 2.08 14%
Mandarin Oriental International Ltd (US$) 1.43 1.27 13%
Pan Pacific Hotels Group Limited 1.46 1.47
Shangri-La Asia Limited (HK$) 12.92 11.30 14%
Stamford Land Corporation Ltd 0.38 0.38 0%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  411.00 400.00 3%
The Ambassador Hotel, Ltd  32.45 30.40 7%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  166,500 168,000 -1%
Japan Hotel and Resort Inc 135,300 135,700 0%
Imperial Hotel, Ltd  1,847 1,820 1%
Return to Headlines
HVS Beijing
David Ling
HVS Hong Kong
Mark Keith & David Ling
HVS Mumbai
Manav Thadani
HVS New Delhi
Manav Thadani
HVS Shanghai
David Ling
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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