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August 6, 2010 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
IHG’s 330,000 Reasons To Say ‘Thank You’
Investment Opportunity In Fiji: Momi Bay Integrated Resort Development, Stage One
New Resort In Phnom Penh, Cambodia
Fears Over Property Bubble In Hong Kong
Langham Hotels International To Open Second Property In Xintiandi, Shanghai
Ascott REIT To Sell Country Woods Jakarta For Approximately US$24.9 Million
Absolute Share Price Performance, As At 6 August 2010
IHG’s 330,000 Reasons To Say ‘Thank You’ Return to Headlines
The ‘Celebrate Service Week’, an initiative by InterContinental Hotels Group (IHG) to say ‘thank you’ to its teams across their 4,400 hotels, offices and reservation centres around the world, was launched on 26 July. The initiative is dedicated to IHG’s 330,000 staff across its hotels and offices for their invaluable contributions to the group. It will feature events such as barbeques, pool parties and grand prize draw giveaways. Last year, IHG created 25,000 new jobs with the opening of 345 hotels and another 160,000 jobs will be created over the next five years as 1,300 more hotels are expected to be in the pipeline.
Investment Opportunity In Fiji: Momi Bay Integrated Resort Development, Stage One Return to Headlines
The Fiji National Provident Fund is highlighting an investment opportunity in the Fiji Islands. The Fund is inviting investors to submit Expression of Interest (EOI) to acquire or to form a joint venture of the Stage One of Momi Bay Integrated Resort Development. Located on the coast at Momi Bay, the total site is understood to cover 643 acres of land, of which 305 acres are freehold and the balance are leasehold with State (107 acres) and Native (231 acres). The site is approximately 28 kilometres from Fiji’s main international airport, which is capable of handling wide bodied jet aircraft. Stage One of the development comprises, amongst others, 228 resort duplex villas and room blocks, 22 over-water resort luxury villas and a partially completed nine holes out of an 18-hole USPGA standard golf course. For more information, please contact Mr Suliano Ramanu (SulianoR@fnpf.com.fj) or Mr Anare Vocea (AnareV@fnpf.com.fj) from the Investments Division of Momi Bay Integrated Resort Development.
New Resort In Phnom Penh, Cambodia Return to Headlines
The Pavilion, with projects such as Kabiki and Blue Lime under its portfolio, has begun the construction phase for its latest project, The Plantation. The 72-room hotel is situated within a 5,200-square-metre park in the heart of Phnom Penh’s tourist area. The colonial-style development is also within close proximity to the Royal Palace and the National Museum and is due to be completed in November 2011. Facilities for the resort include a 25-metre pool surrounded by cabanas, a spa, a fitness club and two bars.
Fears Over Property Bubble In Hong Kong Return to Headlines
There are fears that real estate prices are getting too high in Hong Kong. Since the beginning of 2009, prices have surged by 42%, and it is predicted that they could rise by another 10% this year. All local indices, such as the Centaline index and the Hang Seng property index, are showing a steady rise in prices. The Centaline index, which shows Hong Kong’s home prices, have increased 10.5% this year while the Hang Seng property index, which tracks seven of Hong Kong’s biggest developers, has risen 11% in the past six months. In June this year, Sun Hung Kai Properties bought a site in the Ho Man Tin district for approximately US$1.4 billion. At approximately US$1,615 per square foot, it was the highest price paid in a government auction in urban Hong Kong since the market peaked in 1997.
Langham Hotels International To Open Second Property In Xintiandi, Shanghai Return to Headlines
Langham Hotels International has announced plans to open The Langham, Xintiandi, Shanghai, in China, its second property in the city after the The Langham, Yangtze Boutique, Shanghai. Located in the lively Xintiandi district, the 24-storey hotel will be a landmark building with interiors by leading hospitality designer, Peter Remedios. The Langham, Xintiandi, Shanghai will offer 357 rooms and 23 suites, a modern ballroom and eight large meeting spaces to cater to different types of events. The hotel will be the group’s 21st property in its expanding global portfolio.
Ascott REIT To Sell Country Woods Jakarta For Approximately US$24.9 Million Return to Headlines
CapitaLand has announced that its Ascott Residence Trust (Ascott REIT) has entered into an agreement to sell a rental housing property, Country Woods, in Jakarta for approximately US$24.9 million. The transaction, which is expected to be completed in the fourth quarter this year, will give Ascott REIT an estimated net gain of approximately US$4.2 million from the divestment. The transacted price is 60% above the property’s valuation as at 30 June 2010.
Absolute Share Price Performance, as at 6 AUGUST 2010
Closing Share Price as at 6 August 2010 30 July 2010 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.70 5.81 -2%
General Property Group 2.89 2.86 1%
Mirvac Group 1.36 1.33 2%
Ocean Capital Limited 0.25 0.25
Thakral Holdings Group 0.45 0.45
Living and Leisure Australia Group 0.018 0.018
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 5.65 5.20 9%
Dusit Thani Public Co Ltd 30.00 29.00 3%
The Erawan Group Public Co Ltd 2.50 2.20 14%
Grande Asset Hotels and Property Public Co Ltd 1.88 1.70 11%
Laguna Resorts & Hotel Public Co Ltd 52.00 50.00 4%
Minor International Public Co Ltd 11.30 11.00 3%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  22.09 21.02 5%
Beijing Capital Tourism Co Ltd 19.03 19.30 -1%
Jinling Hotel Corporation Ltd 7.90 7.84 1%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 10.03 10.02
Guangzhou Dong Fang Hotel Co Ltd 13.37 13.18 1%
Shenzhen Century Plaza Hotel Co Ltd 6.93 6.87 1%
Home Inns & Hotels Management Inc 44.00 42.07 5%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.10 7.83 3%
Regal Hotels International Holdings Ltd 3.04 3.02 1%
Sino Hotels Holdings Ltd 2.30 2.30
The Hong Kong & Shanghai Hotels Ltd 12.78 12.32 4%
Korea Exchange (KRW)
The Shilla  26,650 25,500 5%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.46 0.46
ART Management Limited 1.18 1.18
Banyan Tree Holdings Limited 0.85 0.87 -2%
CDL HTrust  2.00 2.00
Hotel Grand Central Ltd 0.81 0.81
Hotel Properties Ltd 2.96 2.85 4%
Mandarin Oriental International Ltd (US$) 1.40 1.43 -2%
Pan Pacific Hotels Group Limited 1.61 1.59 1%
Shangri-La Asia Limited (HK$) 16.08 15.60 3%
Stamford Land Corporation Ltd 0.50 0.52 -4%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  516 459 12%
The Ambassador Hotel, Ltd  45.60 38.70 18%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  224,000 219,700 2%
Japan Hotel and Resort Inc 192,700 193,000
Imperial Hotel, Ltd  1,885 1,890
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