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August 13, 2010 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
Thailand Welcomes Its First Westin Resort
First Doubletree By Hilton Hotel In Southeast Asia
Laguna Resorts and Hotels Sells Dusit Thani For US$81.3 Million
Ritz-Carlton Hong Kong To Be Highest Hotel In The World
Accor To Expand Portfolio In Thailand
Bangladesh To Have Its First Best Western Hotel
Absolute Share Price Performance, As At 13 August 2010
Thailand Welcomes Its First Westin Resort Return to Headlines
The Westin Siray Bay Resort & Spa Phuket, Westin’s first resort in Thailand, has officially opened it doors to visitors. Located in Siray Island on the east coast of Phuket, the resort is eight minutes’ drive from Phuket Town and 45 minutes’ drive from Phuket International Airport. The resort will offer 261 guestrooms, suites and villas, with some of them having their own private pools and rooftop relaxing areas overlooking Siray Bay. Guests will also have a wide selection of cuisines from the resort’s six restaurants and bars, all of which feature ocean views.
First Doubletree By Hilton Hotel In Southeast Asia Return to Headlines
Hilton Worldwide has announced the opening of its first Doubletree by Hilton Hotel in Southeast Asia. The 34-storey Doubletree by Hilton, Kuala Lumpur is situated in the heart of Malaysia’s capital city, within its Golden Triangle district, just northeast of KL City Centre. The 540-guestroom hotel is owned by MGPA Asia Fund II and is part of an integrated property called The Intermark, which also includes a retail podium, and a grade A office tower. The hotel offers a wide array of conference and event facilities, with more than 1,850 square metres of flexible function space, including a pillar-less grand ballroom that can accommodate up to 1,000 guests.
Laguna Resorts and Hotels Sells Dusit Thani For US$81.3 Million Return to Headlines
Laguna Resorts and Hotels (LRH) in Phuket, Thailand has sold the Dusit Thani Laguna Phuket Hotel on its property for US$81.3 million. The successful bidder in the closed bid tender was Dusit Thani Ltd. The 226-room, five-star luxury hotel offers facilities such as six restaurants, a spa and four conference rooms. The sale is pending approval from LRH’s shareholders at a meeting that will take place on 29 September this year. If approval is given, the transaction is expected to be completed on 30 November 2010.
Ritz-Carlton Hong Kong To Be Highest Hotel In The World Return to Headlines
Located at the heart of the city, the Ritz-Carlton, Hong Kong will be the tallest hotel in the world when it opens in the first quarter of 2011. The 312-guestroom hotel will occupy Levels 102 to 118 of the International Commerce Centre (ICC) in Kowloon. At the podium of the ICC will be a 1,000,000-square-metre shopping mall, Elements, which will feature different luxury brand names under one roof. Other than its six dining venues offering a wide range of cuisines, the hotel also has one of the largest ballrooms in Hong Kong at 930 square metres. The hotel is situated just 20 minutes from Hong Kong International Airport and five minutes from Central Hong Kong.
Accor To Expand Portfolio In Thailand Return to Headlines
Accor Group plans to add up to 13 new hotels and more than 3,000 rooms to its portfolio in Thailand in the next few years. The hotel group, with a portfolio of 42 hotels and 10,044 rooms in Thailand, is also in the midst of clinching more management deals. Four of the new hotels will open in Bangkok within the next few months. They are the 216-room Novotel Bangkok Fenix Silom, the 380-room Novotel Bangkok Fenix Ploenchit, the 272-room Ibis Bangkok Riverside and the 162-room All Seasons Bangkok Victory Monument.
Bangladesh To Have Its First Best Western Hotel Return to Headlines
Best Western International and Fort Hotels Group will be opening the Best Western Premier hotel in Cox's Bazar, Bangladesh, the first Best Western property in the country. The hotel, which is slated to open in 2014, will appeal to both the Leisure and Business markets with facilities such as four food and beverage outlets, three swimming pools, a bowling track and two grand banquet halls which can accommodate up to 3,000 guests. In addition, the Best Western Premier hotel is built to withstand natural disasters such as a 7.6-metre high tsunami, an earthquake of 7.5 on the Richter scale and strong winds of 260 kilometres per hour.
Absolute Share Price Performance, as at 13 AUGUST 2010
Closing Share Price as at 13 August 2010 6 August 2010 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.70 5.70
General Property Group 2.87 2.89 -1%
Mirvac Group 1.32 1.36 -3%
Ocean Capital Limited 0.24 0.25 -4%
Thakral Holdings Group 0.44 0.45 -3%
Living and Leisure Australia Group 0.018 0.018
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 5.40 5.65 -4%
Dusit Thani Public Co Ltd 29.50 30.00 -2%
The Erawan Group Public Co Ltd 2.46 2.50 -2%
Grande Asset Hotels and Property Public Co Ltd 1.51 1.88 -20%
Laguna Resorts & Hotel Public Co Ltd 53.50 52.00 3%
Minor International Public Co Ltd 11.20 11.30 -1%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  24.54 22.56 9%
Beijing Capital Tourism Co Ltd 22.39 20.94 7%
Jinling Hotel Corporation Ltd 8.18 8.42 -3%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 10.24 10.47 -2%
Guangzhou Dong Fang Hotel Co Ltd 12.86 13.21 -3%
Shenzhen Century Plaza Hotel Co Ltd 6.64 6.96 -5%
Home Inns & Hotels Management Inc 41.99 44.00 -5%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.10 8.10
Regal Hotels International Holdings Ltd 3.03 3.04
Sino Hotels Holdings Ltd 2.29 2.30
The Hong Kong & Shanghai Hotels Ltd 12.88 12.78 1%
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 102.55 97.70 5%
EIH (Oberoi Hotels & Resorts) 131.45 125.00 5%
Hotel Leela Ventures 49.75 49.35 1%
Korea Exchange (KRW)
The Shilla  25,350 26,650 -5%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.44 0.46 -4%
ART Management Limited 1.19 1.18 1%
Banyan Tree Holdings Limited 0.85 0.85
CDL HTrust  1.97 2.00 -2%
Hotel Grand Central Ltd 0.80 0.81 -1%
Hotel Properties Ltd 2.86 2.96 -3%
Mandarin Oriental International Ltd (US$) 1.35 1.40 -4%
Pan Pacific Hotels Group Limited 1.58 1.61 -2%
Shangri-La Asia Limited (HK$) 15.84 16.08 -1%
Stamford Land Corporation Ltd 0.50 0.50
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  473 516 -8%
The Ambassador Hotel, Ltd  44.75 45.60 -2%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  229,300 224,000 2%
Japan Hotel and Resort Inc 191,800 192,700
Imperial Hotel, Ltd  1,892 1,885
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