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Featured in this Asia Pacific Hospitality Newsletter |
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Singapore’s Marina Bay Sands integrated resort (IR) opened
its doors on 27 April 2010. The first phase opening included
963 rooms, parts of the shopping mall and convention centre,
some food and beverage outlets, the Event Plaza and the
casino; the IR will open progressively over the course of
this year. During the official grand opening scheduled on 23
June 2010, the remainder of the IR’s 2,560 rooms, the Sands
SkyPark, additional food and beverage outlets and shops will
open. The property is expected to serve business and MICE
travellers as well as leisure travellers with extensive
meeting and convention spaces and leisure attractions. |
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According to STR Global, hotels in the Asia Pacific region
have posted increases in occupancy, ADR and RevPAR for five
consecutive months. On a year-on-year basis, occupancy in
March 2010 rose approximately 13.7 percentage points to
67.6% and ADR improved to US$130.56, translating to a 29%
increase in RevPAR to US$88.22. Beijing enjoyed the largest
occupancy increase, followed by Phuket and Shanghai.
Brisbane, Sydney, Seoul, Hong Kong and Melbourne posted an
ADR increase of over 25%. |
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Shanghai is expected to witness the entry of approximately
3,700 hotels rooms from upscale hotel projects during the
Shanghai World Expo 2010 period of 1 May 2010 to 31 October
2010. The latest addition of upscale hotels in Shanghai
included the 682-key Grand Mélia Shanghai and 501-key
Marriott Changfeng Park which opened in February 2010. In
addition, the 362-key Conrad Shanghai and 400-key W Shanghai
Pudong are expected to open in July 2010 and September 2010,
respectively. |
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Upon the completion of an extensive refurbishment programme
covering all guestrooms and public space, the Royal Mulu Resort
in Malaysia will be rebranded to the Mulu Marriott Resort and
Spa. Located five minutes’ drive from Gunung Mulu National Park,
a UNESCO World Heritage Site, the property is expected to open
in 2011, featuring 118 rooms. Upon opening, the Mulu Marriott
Resort and Spa will be the only full-service hotel in this area. |
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Starwood Hotels and Resorts is set to increase its Sheraton
brand presence in Seoul, Korea, with a third property.
Occupying the 27th to 41st floors of a 41-storey main tower,
the 269-key Sheraton Seoul D-Cube City will be developed as
part of a mixed-use development, consisting of office
spaces, residences, a retail centre, theatres and a
46,000-square-metre convention hall. The property is
expected to open in September 2011. |
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Novotel Phuket Beach Resort Panwa Finally Sold For
Approximately US$26 Million |
Return to Headlines |
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Novotel Phuket Beach Resort Panwa has been finally sold for approximately US$26 million. The board of directors of Natural Public Park Company Limited, owner of Novotel Phuket Beach Resort Panwa, has approved the sale of the property to Ton Vassana Company Limited. The property currently features 77 rooms, with an additional 77 rooms under construction (Phase 2). Phase 2 has yet to be completed, due mainly to the insolvency of Lehman Brothers Commercial Corporation Asia Limited. |
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Absolute Share Price Performance, as at
23 April 2010 |
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Closing Share Price as at |
23 Apr 2010 |
16 Apr 2010 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings Limited |
5.97 |
5.86 |
2% |
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General Property Group |
0.58 |
0.60 |
-3% |
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Mirvac Group |
1.47 |
1.45 |
1% |
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Ocean Capital Limited |
0.26 |
0.26 |
– |
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Thakral Holdings Group |
0.40 |
0.37 |
8% |
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Living and Leisure Australia Group |
0.024 |
0.026 |
– |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
3.76 |
3.84 |
-2% |
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Dusit Thani Public Co Ltd |
27.25 |
26.75 |
2% |
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The Erawan Group Public Co Ltd |
2.16 |
2.30 |
– |
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Grande Asset Hotels and Property Public Co Ltd |
1.45 |
1.45 |
– |
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Laguna Resorts & Hotel Public Co Ltd |
37.75 |
38.00 |
-1% |
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Minor International Public Co Ltd |
9.55 |
9.15 |
4% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
27.80 |
28.15 |
-1% |
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Beijing Capital Tourism Co Ltd |
24.48 |
23.05 |
6% |
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Jinling Hotel Corporation Ltd |
9.93 |
10.08 |
-1% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
12.16 |
12.35 |
-2% |
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Guangzhou Dong Fang Hotel Co Ltd |
10.85 |
10.81 |
0% |
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Shenzhen Century Plaza Hotel Co Ltd |
7.26 |
7.77 |
-7% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
35.83 |
33.51 |
7% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel & Investment Co Ltd |
8.01 |
7.88 |
2% |
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Regal Hotels International Holdings Ltd |
3.01 |
3.10 |
-3% |
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Sino Hotels Holdings Ltd |
2.14 |
2.30 |
-7% |
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The Hong Kong & Shanghai Hotels Ltd |
12.42 |
12.26 |
1% |
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Korea Exchange (KRW) |
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The Shilla |
23,500 |
23,750 |
-1% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.50 |
0.51 |
-2% |
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ART Management Limited |
1.23 |
1.25 |
-2% |
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Banyan Tree Holdings Limited |
0.74 |
0.73 |
1% |
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CDL HTrust |
1.83 |
1.95 |
-6% |
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Hotel Grand Central Ltd |
0.84 |
0.83 |
1% |
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Hotel Properties Ltd |
2.30 |
2.37 |
-3% |
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Mandarin Oriental International Ltd (US$) |
1.60 |
1.38 |
16% |
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Pan Pacific Hotels Group Limited |
1.55 |
1.55 |
0% |
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Shangri-La Asia Limited (HK$) |
14.54 |
15.00 |
-3% |
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Stamford Land Corporation Ltd |
0.55 |
0.50 |
10% |
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Taiwan Stock Exchange (NT$) |
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Formosa International Hotels Corporation |
382 |
370 |
3% |
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The Ambassador Hotel, Ltd |
35.45 |
37.85 |
-6% |
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Tokyo Stock Exchange (JPY) |
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Nippon Hotel Fund Investment Corporation |
178,800 |
157,100 |
14% |
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Japan Hotel and Resort Inc |
176,600 |
154,800 |
14% |
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Imperial Hotel, Ltd |
1,900 |
1,839 |
3% |
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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. |
