Featured in this Asia Pacific Hospitality Newsletter |
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Ascott Group has entered the Bali market with an agreement to
manage Citadines Bali Kuta. The 174-unit serviced residence,
to be developed by property developer Rudy Indopratama
Sejahtera, is targeted to open in April 2012. Facilities for
the Citadines Bali Kuta include small meeting rooms, a
restaurant, a gymnasium and a spa. Apart from the Kuta
development, three other Citadines are also scheduled to
open between this year and 2012 in Jakarta. Ascott currently
has five properties in Jakarta and Surabaya under the Ascott,
Somerset and Citadines brands. |
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InterContinental Hotels Group (IHG) marks its entry into Osaka
with an agreement to develop an InterContinental luxury
hotel and high-class residences in the city. The project is
located in Osaka Station North Yard, a special urban
redevelopment zone which will feature urban amenities,
high-end offices, modern accommodation options and a
10,000-square-metre plaza and pedestrian mall. The
development will feature 200 rooms and 50 residential
apartments as well as restaurants and banquet facilities.
The project also marks IHG’s foray into the Japanese
residential market. |
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The six-storey Langham Place, Beijing Capital Airport, will be
opening in August this year. The five-star hotel is
strategically located adjacent to the new Terminal 3 of the
airport, within close proximity to the New China
International Exhibition Centre and a short 15-minute train
ride away to the city. The hotel will feature 372 bedrooms
and suites, and over 2,800 square metres of flexible
function space. Its location and wide range of rooms and
facilities will appeal to both leisure travellers and
business guests. |
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A change in the zoning laws in Phang Nga Province, which is just
above Phuket, Thailand, may slow down the development of
beachfront villas and hotels in the area. The new regulations
cover the Kok Gloy and Tai Muang southern coastal areas of Phang
Nga Province, and will take effect from 3 July 2010 to 2 July
2015. The new laws have designated most of the beachfront land
in the area as forest conservation zones or agricultural zones,
limiting new projects to single housing units or government use.
In addition, more green area as a percentage of a plot is
required, limiting the amount of development on a piece of land
as a result. |
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A property tax trial of up to 1% is expected to be introduced
in parts of China in 2012, with Shanghai likely to be the
first city to be subject to the new levy. In order to cool
the surging property prices, Premier Wen Jiabao has already
restricted loans to real estate developers and also imposed
higher interest rates and down payments for second
mortgages. Property prices in 70 cities rose 11.4% in June
this year as compared to a year earlier. Proposals from
China’s top economic planning agency to gradually introduce
a property tax have been approved and if it is successful,
the tax will be introduced across the country. |
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IBIS Singapore on Bencoolen has been sold by LaSalle
Investment Management and Accor to a Singapore private
investor for over US$148 million. Opened in February 2009,
the 538-key hotel is jointly owned by property investor
LaSalle Investment Management and hospitality group Accor. |
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Absolute Share Price Performance, as at
30 July 2010 |
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Closing Share Price as at |
30 July 2010 |
23 July 2010 |
% Change |
Australia Stock Exchange (ASX) |
Amalgamated Holdings Limited |
5.81 |
5.71 |
2% |
General Property Group |
2.86 |
2.97 |
-4% |
Mirvac Group |
1.33 |
1.36 |
-2% |
Ocean Capital Limited |
0.25 |
0.25 |
– |
Thakral Holdings Group |
0.45 |
0.43 |
6% |
Living and Leisure Australia Group |
0.018 |
0.018 |
– |
Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
5.20 |
5.10 |
2% |
Dusit Thani Public Co Ltd |
29.00 |
29.00 |
– |
The Erawan Group Public Co Ltd |
2.20 |
2.16 |
2% |
Grande Asset Hotels and Property Public Co Ltd |
1.70 |
1.59 |
7% |
Laguna Resorts & Hotel Public Co Ltd |
50.00 |
47.00 |
6% |
Minor International Public Co Ltd |
11.00 |
10.90 |
1% |
China Shanghai Stock Exchange (RMB) |
Shanghai Jinjiang International Hotels Development |
21.02 |
20.75 |
1% |
Beijing Capital Tourism Co Ltd |
19.30 |
18.75 |
3% |
Jinling Hotel Corporation Ltd |
7.84 |
7.65 |
2% |
China Shenzhen Stock Exchange (RMB) |
Hunan Huatian Great Hotel Co Ltd |
10.02 |
9.38 |
7% |
Guangzhou Dong Fang Hotel Co Ltd |
13.18 |
11.36 |
16% |
Shenzhen Century Plaza Hotel Co Ltd |
6.87 |
6.46 |
6% |
NASDAQ (US$) |
Home Inns & Hotels Management Inc |
42.07 |
42.00 |
– |
Hong Kong Stock Exchange (HK$) |
Miramar Hotel & Investment Co Ltd |
7.83 |
7.88 |
-1% |
Regal Hotels International Holdings Ltd |
3.02 |
3.00 |
1% |
Sino Hotels Holdings Ltd |
2.30 |
2.15 |
7% |
The Hong Kong & Shanghai Hotels Ltd |
12.32 |
12.28 |
– |
Korea Exchange (KRW) |
The Shilla |
25,500 |
26,100 |
-2% |
Singapore Stock Exchange (S$) |
Amara Holdings Ltd |
0.46 |
0.46 |
– |
ART Management Limited |
1.18 |
1.23 |
-4% |
Banyan Tree Holdings Limited |
0.87 |
0.86 |
1% |
CDL HTrust |
2.00 |
1.91 |
5% |
Hotel Grand Central Ltd |
0.81 |
0.79 |
3% |
Hotel Properties Ltd |
2.85 |
2.90 |
-2% |
Mandarin Oriental International Ltd (US$) |
1.43 |
1.46 |
-2% |
Pan Pacific Hotels Group Limited |
1.59 |
1.60 |
-1% |
Shangri-La Asia Limited (HK$) |
15.60 |
15.08 |
3% |
Stamford Land Corporation Ltd |
0.52 |
0.51 |
2% |
Taiwan Stock Exchange (NT$) |
Formosa International Hotels Corporation |
459 |
456 |
1% |
The Ambassador Hotel, Ltd |
38.70 |
41.60 |
-7% |
Tokyo Stock Exchange (JPY) |
Nippon Hotel Fund Investment Corporation |
219,700 |
222,000 |
-1% |
Japan Hotel and Resort Inc |
193,000 |
182,000 |
6% |
Imperial Hotel, Ltd |
1,890 |
1,927 |
-2% |
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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. |