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October 29, 2010 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
Vina Properties Acquires Iconic Dalat Palace Golf Club
Land Prices And Transactions Drop In South Korea
Carlson To Step Up Investment In Its Radisson Brand
New Corporate Identity For New World Hotels Amidst Expansion Plans
Accor Group Plans For Strategic Repositioning
Absolute Share Price Performance, As At 29 October 2010
Vina Properties Acquires Iconic Dalat Palace Golf Club Return to Headlines
Saigon-based Vina Properties has acquired Dalat Palace Golf Club in Vietnam, with the acquisition also including two other hotels, the Dalat Palace Hotel and the Dalat du Parc. The golf club has a long heritage, being designed back in the 1920s at the request of Bao Dai, the last emperor of Vietnam. The Dalat Palace Hotel and the Dalat du Parc offers 43 guestrooms and 140 guestrooms, respectively. Vina Properties’ other hospitality holdings include the four-star Ramana Saigon Hotel, in Ho Chi Minh City, and the Royal Hotel, in Vung Tau.
Land Prices And Transactions Drop In South Korea Return to Headlines
According to the report by the Ministry of Land, Transport and Maritime Affairs, the average price of land across South Korea declined 0.04% in September this year as compared to August. This is the second month in a row that land prices in the country have contracted, with the number of transactions dipping 35.8% year-on-year. The weaker overall numbers are due largely to the fall in land prices for Seoul, Incheon and Gyeonggi Province, which together account for half of the country’s 49 million population.
Carlson To Step Up Investment In Its Radisson Brand Return to Headlines
Carlson Group has plans to invest between US$1 billion to US$1.5 billion in its leading Radisson brand. This move comes after the group’s recent sale of its Regent brand for US$55 million, on top of its sale of Carlson Marketing for US$200 million last year. The investment in the Radisson brand includes the expansion of its new Radisson offshoot, Radisson Blu, with 23 of the 35 Radisson hotels in Asia to be rebranded as Radisson Blu hotels. Asia is a huge contributor to Carlson’s masterplan to grow its hotel business by 50% to 1,500 hotels worldwide by 2015.
New Corporate Identity For New World Hotels Amidst Expansion Plans Return to Headlines
New World Hospitality has relaunched its New World Hotels flagship brand with a new marketing campaign, repositioning itself to the concept of 'modern Oriental hospitality'. The campaign will cover Hong Kong, China and Asia Pacific through different forms of media platforms. The company has also unveiled plans for four new hotel developments in China, situated in Guiyang, Beijing, Shenyang and Qingyuan. The new properties will join the brand's current five properties and two affiliated hotels across China, Vietnam and the Philippines.
Accor Group Plans For Strategic Repositioning Return to Headlines
Accor Asia-Pacific is in discussions with the owners of the Sofitel JJ Oriental Pudong and Hotel Sofitel Shanghai Hyland for strategic repositioning. The management contracts for the two properties are coming to an end and there are talks to reposition the two as a Pullman and an M Gallery, respectively. The potential repositioning plan is also due to next year’s opening of the Sofitel Hotel Shanghai Jing’an, which is a new property reflecting Sofitel’s new standards.
Absolute Share Price Performance, as at 29 October 2010
Closing Share Price as at 29 October 2010 22 October 2010 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  6.29 6.31
General Property Group 2.79 2.90 -4%
Mirvac Group 1.30 1.34 -3%
Ocean Capital Limited 0.24 0.24
Thakral Holdings Group 0.45 0.46 -2%
Living and Leisure Australia Group 0.027 0.027
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 5.05 5.05
Dusit Thani Public Co Ltd 30.25 32.00 -5%
The Erawan Group Public Co Ltd 2.28 2.32 -2%
Grande Asset Hotels and Property Public Co Ltd 1.45 1.41 3%
Laguna Resorts & Hotel Public Co Ltd 53.25 54.25 -2%
Minor International Public Co Ltd 12.20 12.50 -2%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  24.86 24.12 3%
Beijing Capital Tourism Co Ltd 22.56 22.64
Jinling Hotel Corporation Ltd 9.22 8.78 5%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 9.78 9.66 1%
Guangzhou Dong Fang Hotel Co Ltd 14.18 14.11
Shenzhen Century Plaza Hotel Co Ltd 6.54 6.39 2%
Home Inns & Hotels Management Inc 51.16 51.24
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 9.12 9.32 -2%
Regal Hotels International Holdings Ltd 3.08 3.16 -3%
Sino Hotels Holdings Ltd 2.35 2.35
The Hong Kong & Shanghai Hotels Ltd 13.64 13.84 -1%
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 99.45
EIH (Oberoi Hotels & Resorts) 131.00
Hotel Leela Ventures 56.10
Korea Exchange (KRW)
The Shilla  28,650 29,000 -1%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.44 0.47 -6%
Ascott Residence Trust 1.27 1.24 2%
Banyan Tree Holdings Limited 0.93 0.92 1%
CDL HTrust  2.14 2.08 3%
Hotel Grand Central Ltd 0.82 0.83 -1%
Hotel Properties Ltd 2.80 2.82 -1%
Mandarin Oriental International Ltd (US$) 1.91 1.85 3%
Pan Pacific Hotels Group Limited 1.64 1.64
Shangri-La Asia Limited (HK$) 17.20 17.52 -2%
Stamford Land Corporation Ltd 0.56 0.56
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  497 520 -4%
The Ambassador Hotel, Ltd  48.45 50.40 -4%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  249,300 240,600 4%
Japan Hotel and Resort Inc 203,300 198,500 2%
Imperial Hotel, Ltd  1,900 1,930 -2%
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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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