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September 17, 2010 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
The Remote Resort Fiji Islands To Open In 2011
Holiday Inn Express To Debut In Singapore’s Famous Shopping Belt
Maldives President Ratifies Second Amendment Bill To The Tourism Act
Singapore Hotel Rooms Most Expensive In Asia
Institutional Investors Looking At Japanese Real Estate Market
New Langham Place In Ningbo
Absolute Share Price Performance, As At 17 September 2010
 
The Remote Resort Fiji Islands To Open In 2011 Return to Headlines
The Remote Resort has announced plans for a new resort in the South Pacific. The Remote Resort Fiji Islands, located in the Somosomo Strait, which lies between Vanua Levu and Taveuni, aims to offer all inclusive Fiji vacations, family holidays, traditional Fijian weddings and romantic honeymoons. Guests can also explore the Rainbow Reef, considered one of the most famous dive sites in the South Pacific. The Remote Resort Fiji Islands is slated to open in June 2011.
 
Holiday Inn Express To Debut In Singapore’s Famous Shopping Belt Return to Headlines
InterContinental Hotels Group (IHG) has announced the signing of the first Holiday Inn Express hotel for Singapore, which is set to open in the heart of Orchard Road, the city’s premier shopping belt. Orchard Road has more than 40 shopping and entertainment complexes, and is within close proximity to the city’s Central Business District. The project, which will see the present Wellington Building at Bideford Road being developed into the 220-room hotel, is a partnership between IHG and Valeside Pte Ltd, a member of the Chee Swee Cheng Group of Companies. The Holiday Inn Express hotel is slated to open by 2013.
 
Maldives President Ratifies Second Amendment Bill To The Tourism Act Return to Headlines
President Mohamed Nasheed of the Maldives has ratified the Second Amendment Bill to the Tourism Act. The Second Amendment Bill to the Tourism Act stipulates rent charges to be paid to the government by tourist resorts, tourist hotels and tourist guesthouses. Under the Act, if rent charged from land smaller than 200,000 square metres is more than US$1 million, the rent is set at US$1 million per year. If the rent charged is less than US$1 million, the rent is set at a rate of US$8 per square metre. The Act also stipulates that US$1.5 million per year is charged for 200,001 to 400,000 square metres, while where rent of land larger than 400,001 square metres is more than US$2 million, the rent of the land is set at US$2 million per year.
 
Singapore Hotel Rooms Most Expensive In Asia Return to Headlines
According to a survey done by online hotel booking operator Hotels.com, Singapore is the most expensive city in the Asia Pacific region for hotel rooms. A Singapore hotel room cost an average of US$172.50 per night in the second quarter in 2010, up 22% from the same period last year. Tokyo was the second-most expensive at US$156.80 per night, but was down 6% year-on-year, while Sydney was the third-most expensive at US$148.50 and up 16% year-on-year.
 
Institutional Investors Looking At Japanese Real Estate Market Return to Headlines
With a bottoming out of real estate prices and a recovery in the debt market, international real estate portfolio investors are increasingly looking to buy property in Japan. Buyers who have already declared their interest include Mapletree Investments, the real estate arm of Singapore’s state investor Temasek Holdings, American private equity firms Blackstone Group and Fortress, and Germany’s Deutsche Bank. The Japan real estate market is also gaining interest from wealthy Chinese investors and a number of travel agencies have started offering ‘Buy Japanese Property’ tours.
 
New Langham Place In Ningbo Return to Headlines
Langham Hotels International has signed an agreement with Ningbo Culture Plaza Investment and Development to manage the 140-room Langham Place, Ningbo Culture Plaza in Ningbo, China. The Ningbo Culture Plaza will be a multi-purpose complex that will include commercial, educational, recreational, retail, gallery, exhibition and theatre space. The Langham Place at the Ningbo Culture Plaza will be positioned as an arts hotel and is slated to open in late 2011.
 
Absolute Share Price Performance, as at 17 September 2010
 
Closing Share Price as at 17 September 2010 10 September 2010 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited  5.87 5.80 1%
General Property Group 2.98 3.05 -2%
Mirvac Group 1.39 1.40
Ocean Capital Limited 0.32 0.32
Thakral Holdings Group 0.46 0.44 3%
Living and Leisure Australia Group 0.028 0.021 33%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 5.40 5.10 6%
Dusit Thani Public Co Ltd 30.00 30.00
The Erawan Group Public Co Ltd 2.32 2.36 -2%
Grande Asset Hotels and Property Public Co Ltd 1.51 1.46 3%
Laguna Resorts & Hotel Public Co Ltd 53.00 55.00 -4%
Minor International Public Co Ltd 11.90 11.80 1%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development  26.07 26.76 -3%
Beijing Capital Tourism Co Ltd 23.97 24.85 -4%
Jinling Hotel Corporation Ltd 8.42 8.68 -3%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 10.46 10.85 -4%
Guangzhou Dong Fang Hotel Co Ltd 14.13 14.78 -4%
Shenzhen Century Plaza Hotel Co Ltd 6.81 6.95 -2%
NASDAQ (US$)
Home Inns & Hotels Management Inc 46.68 48.73 -4%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.48 8.28 2%
Regal Hotels International Holdings Ltd 3.04 3.05
Sino Hotels Holdings Ltd 2.30 2.20 5%
The Hong Kong & Shanghai Hotels Ltd 13.10 13.14
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 104.90 106.00 -1%
EIH (Oberoi Hotels & Resorts) 138.15 140.90 -2%
Hotel Leela Ventures 54.70 55.90 -2%
Korea Exchange (KRW)
The Shilla  29,750 30,800 -3%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.44 0.44
ART Management Limited 1.15 1.15
Banyan Tree Holdings Limited 0.83 0.83
CDL HTrust  2.24 2.04 10%
Hotel Grand Central Ltd 0.78 0.79 -1%
Hotel Properties Ltd 2.86 2.90 -1%
Mandarin Oriental International Ltd (US$) 1.49 1.36 10%
Pan Pacific Hotels Group Limited 1.61 1.61
Shangri-La Asia Limited (HK$) 17.56 16.50 6%
Stamford Land Corporation Ltd 0.49 0.48 2%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation  516 490 5%
The Ambassador Hotel, Ltd  46.70 45.30 3%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation  262,000 253,600 3%
Japan Hotel and Resort Inc 216,500 196,500 10%
Imperial Hotel, Ltd  2,027 2,001 1%
 
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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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