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July 30, 2010 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
Ascott Enters Bali Market With Citadines
First InterContinental Hotel In Osaka
Positive Growth For Visitor Arrivals To Asia And The Pacific In First Five Months Of 2010
Change In Zoning Laws May Impact Pace Of Developments In Phang Nga
Property Tax Likely To Be Introduced For Major Chinese Cities By 2012
IBIS Singapore On Bencoolen Sold
Absolute Share Price Performance, As At 30 July 2010
Ascott Enters Bali Market With Citadines Return to Headlines
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.
First InterContinental Hotel In Osaka Return to Headlines
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.
Langham Place, Beijing Capital Airport Opening In August 2010 Return to Headlines
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.
Change In Zoning Laws May Impact Pace Of Developments In Phang Nga Return to Headlines
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.
Property Tax Likely To Be Introduced For Major Chinese Cities By 2012 Return to Headlines
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.
IBIS Singapore On Bencoolen Sold Return to Headlines
IBIS Singapore on Bencoolen has been sold by LaSalle Investment Management and Accor to a Singapore private investor for over US$148 million. Opened in February 2009, the 538-key hotel is jointly owned by property investor LaSalle Investment Management and hospitality group Accor.
Absolute Share Price Performance, as at 30 July 2010
Closing Share Price as at 30 July 2010 23 July 2010 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.81 5.71 2%
General Property Group 2.86 2.97 -4%
Mirvac Group 1.33 1.36 -2%
Ocean Capital Limited 0.25 0.25
Thakral Holdings Group 0.45 0.43 6%
Living and Leisure Australia Group 0.018 0.018
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 5.20 5.10 2%
Dusit Thani Public Co Ltd 29.00 29.00
The Erawan Group Public Co Ltd 2.20 2.16 2%
Grande Asset Hotels and Property Public Co Ltd 1.70 1.59 7%
Laguna Resorts & Hotel Public Co Ltd 50.00 47.00 6%
Minor International Public Co Ltd 11.00 10.90 1%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  21.02 20.75 1%
Beijing Capital Tourism Co Ltd 19.30 18.75 3%
Jinling Hotel Corporation Ltd 7.84 7.65 2%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 10.02 9.38 7%
Guangzhou Dong Fang Hotel Co Ltd 13.18 11.36 16%
Shenzhen Century Plaza Hotel Co Ltd 6.87 6.46 6%
Home Inns & Hotels Management Inc 42.07 42.00
Hong Kong Stock Exchange (HK$)
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%
Return to Headlines
HVS Beijing
Michael Schwarz
HVS Hong Kong
Mark Keith & Daniel Voellm
HVS Mumbai
Manav Thadani
HVS New Delhi
Manav Thadani
HVS Shanghai
Adeline Phua
HVS Singapore
David Ling
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