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Featured in this Asia Pacific Hospitality Newsletter |
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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. |
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Investment Opportunity In Fiji: Momi Bay Integrated Resort
Development, Stage One |
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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 ([email protected])
or Mr Anare Vocea ([email protected]) from the Investments
Division of Momi Bay Integrated Resort Development. |
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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. |
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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. |
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Langham Hotels International To Open Second Property In
Xintiandi, Shanghai |
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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. |
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Ascott REIT To Sell Country Woods Jakarta For Approximately
US$24.9 Million |
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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. |
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Absolute Share Price Performance, as at
6 AUGUST 2010 |
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Closing Share Price as at |
6 August 2010 |
30 July 2010 |
% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings Limited |
5.70 |
5.81 |
-2% |
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General Property Group |
2.89 |
2.86 |
1% |
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Mirvac Group |
1.36 |
1.33 |
2% |
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Ocean Capital Limited |
0.25 |
0.25 |
– |
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Thakral Holdings Group |
0.45 |
0.45 |
– |
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Living and Leisure Australia Group |
0.018 |
0.018 |
– |
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
5.65 |
5.20 |
9% |
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Dusit Thani Public Co Ltd |
30.00 |
29.00 |
3% |
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The Erawan Group Public Co Ltd |
2.50 |
2.20 |
14% |
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Grande Asset Hotels and Property Public Co Ltd |
1.88 |
1.70 |
11% |
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Laguna Resorts & Hotel Public Co Ltd |
52.00 |
50.00 |
4% |
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Minor International Public Co Ltd |
11.30 |
11.00 |
3% |
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
22.09 |
21.02 |
5% |
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Beijing Capital Tourism Co Ltd |
19.03 |
19.30 |
-1% |
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Jinling Hotel Corporation Ltd |
7.90 |
7.84 |
1% |
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
10.03 |
10.02 |
– |
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Guangzhou Dong Fang Hotel Co Ltd |
13.37 |
13.18 |
1% |
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Shenzhen Century Plaza Hotel Co Ltd |
6.93 |
6.87 |
1% |
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NASDAQ (US$) |
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Home Inns & Hotels Management Inc |
44.00 |
42.07 |
5% |
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel & Investment Co Ltd |
8.10 |
7.83 |
3% |
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Regal Hotels International Holdings Ltd |
3.04 |
3.02 |
1% |
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Sino Hotels Holdings Ltd |
2.30 |
2.30 |
– |
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The Hong Kong & Shanghai Hotels Ltd |
12.78 |
12.32 |
4% |
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Korea Exchange (KRW) |
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The Shilla |
26,650 |
25,500 |
5% |
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.46 |
0.46 |
– |
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ART Management Limited |
1.18 |
1.18 |
– |
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Banyan Tree Holdings Limited |
0.85 |
0.87 |
-2% |
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CDL HTrust |
2.00 |
2.00 |
– |
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Hotel Grand Central Ltd |
0.81 |
0.81 |
– |
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Hotel Properties Ltd |
2.96 |
2.85 |
4% |
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Mandarin Oriental International Ltd (US$) |
1.40 |
1.43 |
-2% |
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Pan Pacific Hotels Group Limited |
1.61 |
1.59 |
1% |
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Shangri-La Asia Limited (HK$) |
16.08 |
15.60 |
3% |
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Stamford Land Corporation Ltd |
0.50 |
0.52 |
-4% |
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Taiwan Stock Exchange (NT$) |
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Formosa International Hotels Corporation |
516 |
459 |
12% |
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The Ambassador Hotel, Ltd |
45.60 |
38.70 |
18% |
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Tokyo Stock Exchange (JPY) |
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Nippon Hotel Fund Investment Corporation |
224,000 |
219,700 |
2% |
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Japan Hotel and Resort Inc |
192,700 |
193,000 |
– |
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Imperial Hotel, Ltd |
1,885 |
1,890 |
– |
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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. |
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