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September 10, 2010 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
New Shangri-La Resort In Diqing, Shangri-La County
New Luxury Resort And Residences To Open In Boracay
Cooling Measures Fail To Bring Down Real Estate Prices In China
Shangri-La Named Best Business Hotel Brand In Asia Pacific For 10th Year Running
Garden Cliff Pattaya To Be Rebranded As A Radisson
Absolute Share Price Performance, As At 10 September 2010
New Shangri-La Resort In Diqing, Shangri-La County Return to Headlines
Shangri-La Hotels and Resorts has announced the development of a new city resort, the Shangri-La Hotel, Diqing in Shangri-La County, Yunnan Province. Diqing and Shangri-La County are popular destinations with leisure travellers due to attractions such as the Padacuo National Park, Tiger-leaping Gorge and Meili Snow Mountains. The low-rise urban resort will offer 230 guestrooms and facilities such as a health club, spa with beauty salon and an indoor swimming pool. The development, which expands Shangri-La’s portfolio of properties into the western part of mainland China, is slated to open in early 2013.
New Luxury Resort And Residences To Open In Boracay Return to Headlines
Palmerston Hotels and Resorts is planning to open a luxury resort and residential development on the Philippine island of Boracay. The five-star project, known as the Palmerston Boracay Resort, will be developed over two phases. The first phase will be the Palmerston Beach Club, which will feature a luxury hotel together with an 18-hole golf course. The second phase will be the Palmerston Place, offering an additional 187 standard bedrooms and suites as well as conference, dining and spa facilities. The highlight of the development will be the deluxe boutique hotel, Royal Palmerston Hotel, which will have 59 luxurious suites and 18 villas.
Cooling Measures Fail To Bring Down Real Estate Prices In China Return to Headlines
Despite attempts by the government to cool the market, property prices in China are continuing to increase from a year earlier. The National Bureau of Statistics reported that even though the property price index in August fell slightly from July’s 10.3% rise, it still registered a rise of 9.3% from a year earlier. However, property prices in 70 of China’s large- and medium-sized cities were unchanged for the second consecutive month in August. Analysts said that the current measures need to be strengthened in order to curb the speculation that has driven up property prices and could increase social discontent and economic risks.
Shangri-La Named Best Business Hotel Brand In Asia Pacific For 10th Year Running Return to Headlines
Shangri-La Hotels and Resorts has been voted the Best Business Hotel Brand in Asia Pacific for 2010 by Business Traveller Asia-Pacific Magazine, the tenth consecutive year that the group has won this award. The group also won seven other awards, including the inaugural Best Business Hotel in the World title, which was given to Shangri-La Hotel, Singapore. Other Shangri-La hotels in Hong Kong, Manila and Shanghai were each voted the Best Business Hotel in their respective cities. Results were based on a poll conducted among the magazine’s frequent traveller subscribers based mainly in the Asia Pacific region.
Garden Cliff Pattaya To Be Rebranded As A Radisson Return to Headlines
Carlson has expanded its Radisson brand to Pattaya in Thailand with the signing of an agreement to convert the Garden Cliff Resort and Spa into the Radisson Resort and Spa Pattaya Bay. The property is owned by Garden Cliff Park Limited, a tour operator which handles the China market, and is within close proximity to downtown Pattaya and about 90 minutes’ drive away from Bangkok. The resort will undergo a comprehensive makeover over two phases, and the entire renovation and rebranding process will likely be completed in the first quarter of 2011.
Absolute Share Price Performance, as at 10 September 2010
Closing Share Price as at 10 September 2010 3 September 2010 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.80 5.85 -1%
General Property Group 3.05 3.07 -1%
Mirvac Group 1.40 1.39
Ocean Capital Limited 0.32 0.23 39%
Thakral Holdings Group 0.44 0.45 -1%
Living and Leisure Australia Group 0.021 0.018 17%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 5.10 5.65 -10%
Dusit Thani Public Co Ltd 30.00 29.75 1%
The Erawan Group Public Co Ltd 2.36 2.44 -3%
Grande Asset Hotels and Property Public Co Ltd 1.46 1.48 -1%
Laguna Resorts & Hotel Public Co Ltd 55.00 56.50 -3%
Minor International Public Co Ltd 11.80 11.80
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  26.76 25.41 5%
Beijing Capital Tourism Co Ltd 24.85 25.35 -2%
Jinling Hotel Corporation Ltd 8.68 8.83 -2%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 10.85 11.01 -1%
Guangzhou Dong Fang Hotel Co Ltd 14.78 13.46 10%
Shenzhen Century Plaza Hotel Co Ltd 6.95 7.05 -1%
Home Inns & Hotels Management Inc 48.73 46.30 5%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.28 8.00 3%
Regal Hotels International Holdings Ltd 3.05 3.02 1%
Sino Hotels Holdings Ltd 2.20 2.22 -1%
The Hong Kong & Shanghai Hotels Ltd 13.14 13.20
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 106.00 106.80 -1%
EIH (Oberoi Hotels & Resorts) 140.90 150.80 -7%
Hotel Leela Ventures 55.90 54.90 2%
Korea Exchange (KRW)
The Shilla  30,800 29,400 5%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.44 0.42 5%
ART Management Limited 1.15 1.16 -1%
Banyan Tree Holdings Limited 0.83 0.83
CDL HTrust  2.04 2.01 1%
Hotel Grand Central Ltd 0.79 0.80 -1%
Hotel Properties Ltd 2.90 2.81 3%
Mandarin Oriental International Ltd (US$) 1.36 1.40 -3%
Pan Pacific Hotels Group Limited 1.61 1.61
Shangri-La Asia Limited (HK$) 16.50 16.52
Stamford Land Corporation Ltd 0.48 0.48
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  490 516 -5%
The Ambassador Hotel, Ltd  45.30 45.50
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  253,600 251,100 1%
Japan Hotel and Resort Inc 196,500 201,200 -2%
Imperial Hotel, Ltd  2,001 1,945 3%
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HVS Beijing
Michael Schwarz
HVS Hong Kong
Mark Keith & Daniel Voellm
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Manav Thadani
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Manav Thadani
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Adeline Phua
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