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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 25 September 2009
Hotel Okura To Debut In Bangkok, Thailand In 2012
China Relaxes Macau Travel Ban
Home Inns Aims To Open 200 New Hotels In 2010
First Courtyard By Marriott Opens In Seoul
Japan Land Prices Drop Amid Global Recession
Vietnam Envisaged To Require US$32 Billion Of Housing Developments
Absolute Share Price Performance, As At 25 September 2009
Hotel Okura To Debut In Bangkok, Thailand In 2012 Return to Headlines
Hotel Okura Company has announced plans to open its first hotel in Bangkok, Thailand in the first quarter of 2012. The Hotel Okura Bangkok is anticipated to be 33 storeys high and feature 242 guestrooms. The newly announced hotel in Bangkok will be the hotel operator's sixth overseas property following its debut in Shanghai, China and Amsterdam, Holland, as well as properties under development in Taiwan and Macau.
China Relaxes Macau Travel Ban Return to Headlines
China has eased a travel ban on mainland Chinese visitors travelling to Macau. According to the revised regulation, residents in Guangdong Province, China can now apply to travel to Macau under the individual travel scheme once every month instead of once every three months previously. Beijing has introduced the visa restriction almost a year ago to slow down Macau's overheating growth.
Home Inns Aims To Open 200 New Hotels In 2010 Return to Headlines
Home Inns & Hotels Management Inc (Home Inns) plans to open 200 hotels, predominantly in second tier Chinese cities, in 2010. In all, Home Inns aims to own a total of 1,000 hotels by 2012. In the second quarter of 2009, Home Inns recorded approximately US$15 million in net profit while total revenue recorded around US$94 million, reflecting a 43% year-on-year growth. Home Inns has forecast that its operating revenue is likely to record approximately US$100 million in the third quarter of 2009 and full-year 2009 operating revenue is expected to increase 33% to 35% as compared to 2008.
First Courtyard By Marriott Opens In Seoul Return to Headlines
The 214-key Courtyard by Marriott Seoul Times Square, which forms part of a mixed-use development comprising retail, offices and entertainment facilities, recently opened in Yeongdeungpo District in downtown Seoul. Operating under a management agreement with Kyungbang Limited, the hotel is situated within a five-minute drive from the city's financial district and a 20-minute drive from Gimpo International Airport. In addition to featuring 214 rooms, the hotel offers six meeting rooms, two food and beverage outlets and a gym.
Japan Land Prices Drop Amid Global Recession Return to Headlines
Land prices in Japan have fallen considerably amid the global recession which has resulted in tighter financing for investors and developers. According to the Ministry of Land, Infrastructure, Transport and Tourism, Japan land prices witnessed an average decline of 4.4% in 12 months ending June 2009, the greatest decline in five years. Overall, land prices in residential and commercial districts in Japan's 47 prefectures all fell for the first time since 1975. Land values in the three major metropolitan areas, Tokyo, Osaka and Nagoya, dropped 6.1% while prices in rural districts fell 3.8%.
Vietnam Envisaged To Require US$32 Billion Of Housing Developments Return to Headlines
Relevant authorities in Vietnam have forecast that the country will need to spend approximately US$32 billion on housing projects to cater to the 37.5 million square metres (sqm) of urban housing space needed. Currently, the government has estimated that there are seven million people in the country who need to buy or rent housing. It was also forecast that this group of people is likely to require approximately 150 million sqm of housing, costing between US$17 billion and US$23 billion.
Absolute Share Price Performance, as at 25 September 2009
Closing Share Price as at 25 Sept 2009 18 Sept 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.28 5.36 -1%
General Property Group 0.64 0.69 -7%
Mirvac Group 1.53 1.74 -12%
Ocean Capital Limited 0.40 0.40
Thakral Holdings Group 0.39 0.35 11%
Living and Leisure Australia Group 0.03 0.03 10%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 4.20 3.88 8%
Dusit Thani Public Co Ltd 32.75 29.75 10%
The Erawan Group Public Co Ltd 2.44 2.34 4%
Grande Asset Hotels and Property Public Co Ltd 1.35 1.40 -4%
Laguna Resorts & Hotel Public Co Ltd 33.75 33.75
Minor International Public Co Ltd 12.00 11.40 5%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  18.75 20.41 -8%
Beijing Capital Tourism Co Ltd 17.81 20.25 -12%
Jinling Hotel Corporation Ltd 7.28 7.45 -2%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 6.79 7.23 -6%
Guangzhou Dong Fang Hotel Co Ltd 7.36 7.50 -2%
Shenzhen Century Plaza Hotel Co Ltd 5.49 5.75 -5%
Home Inns & Hotels Management Inc 28.42 30.01 -5%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.18 8.13 1%
Regal Hotels International Holdings Ltd 2.64 2.67 -1%
Sino Hotels Holdings Ltd 2.41 2.45 -2%
The Hong Kong & Shanghai Hotels Ltd 10.74 10.18 6%
Korea Exchange (KRW)
The Shilla  15,850 16,350 -3%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.54 0.55 -2%
ART Management Limited 0.97 0.98 -1%
Banyan Tree Holdings Limited 0.90 0.89 1%
CDL HTrust  1.52 1.53 -1%
Hotel Grand Central Ltd 0.71 0.70 1%
Hotel Properties Ltd 2.46 2.44 1%
Mandarin Oriental International Ltd (US$) 1.31 1.35 -3%
Pan Pacific Hotels Group Limited 1.45 1.45
Shangri-La Asia Limited (HK$) 14.26 13.62 5%
Stamford Land Corporation Ltd 0.41 0.41 0%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  400.00 412.00 -3%
The Ambassador Hotel, Ltd  33.55 34.60 -3%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  159,600 162,500 -2%
Japan Hotel and Resort Inc 128,100 130,600 -2%
Imperial Hotel, Ltd  1,826 1,815 1%
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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