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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 11 September 2009 |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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Absolute Share Price Performance, as at
11 September 2009
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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% |
NASDAQ (US$) |
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% |
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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. |