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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 18 September 2009
Indochina Land Secures Loan For Resort Development In Vietnam
Marriott International Plans 21 New Hotels In Asia Pacific Region
Galaxy Entertainment Group To Pay US$366 Million For Cotai Resort Site
Sri Lanka Envisaged To Require More Hotel Rooms
Singapore Announces Measures To Cool Property Market
Bangkok's Secondary Residential Market Continues To Remain Attractive
Absolute Share Price Performance, As At 18 September 2009
Indochina Land Secures Loan For Resort Development In Vietnam Return to Headlines
Indochina Land Holdings and Vietcombank have signed an agreement for a US$39 million loan to finance the development of the US$120 million Hyatt Regency Da Nang Resort and Spa. Located along Non Nuoc Beach, the five-star resort development is situated on a 20-hectare site and is expected to comprise 200 guestrooms, 174 luxury condominiums and 27 three-bedroom villas for sale.
Marriott International Plans 21 New Hotels In Asia Pacific Region Return to Headlines
Marriott International has announced the signing of 21 hotel management contracts in the Asia Pacific region. The new hotels include two JW Marriott hotels in Dalian and Sanya, China, ten upscale Marriott hotels which will be located in China, the Philippines and Thailand, including the 712-key Shanghai Marriott Hotel City Centre and 256-key Manila Airport Marriott, two upscale Renaissance hotels in China and seven Courtyard by Marriott hotels in Cambodia, China and India. These 21 hotels are scheduled to open by end of 2013, adding an additional 7,000 rooms to the group's Asia Pacific pipeline of 37 hotels or 9,400 rooms currently under construction.
Galaxy Entertainment Group To Pay US$366 Million For Cotai Resort Site Return to Headlines
Macau's Galaxy Entertainment Group (Galaxy) is expected to pay approximately US$366 million for a 440,400-square-metre land plot on Cotai, Macau. Galaxy intends to develop an approximately US$1.3 billion casino resort which is expected to feature three hotels, including a 1,500-key Galaxy-branded hotel, a 400-key Okura hotel and a 254-key Banyan Tree hotel. Significant construction for the mega resort on Cotai, which occupies a third of the total site area, has been completed. The resort is reported to debut earliest by end of 2010.
Sri Lanka Envisaged To Require More Hotel Rooms Return to Headlines
According to the Sri Lanka Association of Inbound Tour Operators (SLAITO), Sri Lanka requires a minimum of 25,000 rooms within the three-star to five-star category to cater to the anticipated increase in tourists after the end of the 30-year civil war. International arrivals for August 2009 registered 41,207, reflecting a 34% increase from the same month in 2008. Currently, Sri Lanka offers a total of approximately 14,800 rooms, including 3,000 five-star rooms and 1,400 three-star and four-star rooms.
Singapore Announces Measures To Cool Property Market Return to Headlines
The Singapore government has recently announced measures for a ‘stable and sustainable property market' and these measures include the removal of interest absorption scheme and interest-only housing loans with immediate effect, and the reinstatement of selling of land parcels under the confirmed list. In addition, the government also announced that measures introduced in 2009 to stabilise the market will not be extended when they expire in January 2010 or 2011. Some of these measures include allowing a one-year extension of project completion period, allowing reassignment of Government Land Sales site and private land owned by foreign developers, and granting up to two years of property tax deferral for land under development.
Bangkok's Secondary Residential Market Continues To Remain Attractive Return to Headlines
According to market reports, the secondary residential market in Bangkok has remained attractive, especially the well-managed developments, amidst the current economic environment. Industry experts have attributed the resilience of the resale market to the declining availability of prime sites and attractive yields and capital appreciation expected for these properties. Resale units are currently commanding between US$1,600 and US$2,700 per square metre (psm) within the Central Business District while newly completed luxury condominiums are offered for sale for between approximately US$3,300 and US$6,000 psm.
Absolute Share Price Performance, as at 18 September 2009
Closing Share Price as at 18 Sept 2009 11 Sept 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.36 5.46 -2%
General Property Group 0.69 0.61 13%
Mirvac Group 1.74 1.56 11%
Ocean Capital Limited 0.40 0.40
Thakral Holdings Group 0.35 0.35 1%
Living and Leisure Australia Group 0.03 0.03 -6%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.88 3.78 3%
Dusit Thani Public Co Ltd 29.75 28.00 6%
The Erawan Group Public Co Ltd 2.34 2.28 3%
Grande Asset Hotels and Property Public Co Ltd 1.40 1.40
Laguna Resorts & Hotel Public Co Ltd 33.75 34.00 -1%
Minor International Public Co Ltd 11.40 10.70 7%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  20.41 19.52 5%
Beijing Capital Tourism Co Ltd 20.25 19.89 2%
Jinling Hotel Corporation Ltd 7.45 7.29 2%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 7.23 6.97 4%
Guangzhou Dong Fang Hotel Co Ltd 7.50 7.54 -1%
Shenzhen Century Plaza Hotel Co Ltd 5.75 6.16 -7%
Home Inns & Hotels Management Inc 30.01 28.10 7%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.13 7.95 2%
Regal Hotels International Holdings Ltd 2.67 2.53 6%
Sino Hotels Holdings Ltd 2.45 2.50 -2%
The Hong Kong & Shanghai Hotels Ltd 10.18 9.50 7%
Korea Exchange (KRW)
The Shilla  16,350 15,650 4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.55 0.57 -4%
ART Management Limited 0.98 0.97 2%
Banyan Tree Holdings Limited 0.89 0.92 -3%
CDL HTrust  1.53 1.45 6%
Hotel Grand Central Ltd 0.70 0.71 -1%
Hotel Properties Ltd 2.44 2.38 3%
Mandarin Oriental International Ltd (US$) 1.35 1.43 -6%
Pan Pacific Hotels Group Limited 1.45 1.46
Shangri-La Asia Limited (HK$) 13.62 12.92 5%
Stamford Land Corporation Ltd 0.41 0.38 8%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  412.00 411.00
The Ambassador Hotel, Ltd  34.60 32.45 7%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  162,500 166,500 -2%
Japan Hotel and Resort Inc 130,600 135,300 -3%
Imperial Hotel, Ltd  1,815 1,847 -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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