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Featured in this Asia Pacific Hospitality Newsletter - Week
Ending 18 September 2009 |
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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. |
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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. |
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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. |
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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. |
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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. |
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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$6,000 psm. |
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Absolute Share Price Performance, as at
18 September 2009
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Closing Share Price as at |
18 Sept 2009 |
11 Sept 2009 |
% Change |
Australia Stock Exchange (ASX) |
Amalgamated Holdings Limited |
5.36 |
5.46 |
-2% |
General Property Group |
0.69 |
0.61 |
13% |
Mirvac Group |
1.74 |
1.56 |
11% |
Ocean Capital Limited |
0.40 |
0.40 |
– |
Thakral Holdings Group |
0.35 |
0.35 |
1% |
Living and Leisure Australia Group |
0.03 |
0.03 |
-6% |
Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
3.88 |
3.78 |
3% |
Dusit Thani Public Co Ltd |
29.75 |
28.00 |
6% |
The Erawan Group Public Co Ltd |
2.34 |
2.28 |
3% |
Grande Asset Hotels and Property Public Co Ltd |
1.40 |
1.40 |
– |
Laguna Resorts & Hotel Public Co Ltd |
33.75 |
34.00 |
-1% |
Minor International Public Co Ltd |
11.40 |
10.70 |
7% |
China Shanghai Stock Exchange (RMB) |
Shanghai Jinjiang International Hotels Development |
20.41 |
19.52 |
5% |
Beijing Capital Tourism Co Ltd |
20.25 |
19.89 |
2% |
Jinling Hotel Corporation Ltd |
7.45 |
7.29 |
2% |
China Shenzhen Stock Exchange (RMB) |
Hunan Huatian Great Hotel Co Ltd |
7.23 |
6.97 |
4% |
Guangzhou Dong Fang Hotel Co Ltd |
7.50 |
7.54 |
-1% |
Shenzhen Century Plaza Hotel Co Ltd |
5.75 |
6.16 |
-7% |
NASDAQ (US$) |
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% |
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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. |