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May 27, 2011 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
Ethiopian Airlines Launches New Direct Service To Hangzhou
Growth Expected For Medical Tourism In Malaysia
Ascott Grows Its Presence In Southeast Asia
Singapore Airlines To Set Up New Low-Cost Carrier
Major Deal Between Poly Real Estate And InterContinental
Absolute Share Price Performance, As At 27 May 2011
Ethiopian Airlines Launches New Direct Service To Hangzhou Return to Headlines

Ethiopian Airlines has added another Chinese city to its service route with the launch of a direct flight to Hangzhou in Zhejiang Province, China. Hangzhou will be the airline’s fourth destination in China, following Beijing, Guangzhou and Hong Kong. The new operation to Hangzhou is an indication of the airline’s commitment to the Chinese market and to the strong ties between China and Africa. The route will be served by Ethiopian Airlines’ Boeing 757 or 767 aircraft at a frequency of five times a week.

Growth Expected For Medical Tourism In Malaysia Return to Headlines

The Malaysian Health Ministry aims to leverage on the country’s positioning as an affordable and comprehensive healthcare hub, targeting to attract more than 437,000 medical tourists and generating about US$143 million for this year. For 2010, the total number of healthcare travellers was at 392,956, with income generated for the sector reaching approximately US$125 million. To boost the country’s healthcare travel industry, the Malaysian Healthcare Travel Council has plans to introduce significant players to drive the industry to a higher level. To support this, the government has announced that they would provide tax exemptions equivalent to 100% of qualifying capital expenditure incurred for the construction of new hospitals or for the modernisation or expansion of existing hospitals in the country.

Ascott Grows Its Presence In Southeast Asia Return to Headlines

Ascott Group has expanded into Malaysia and Indonesia with the announcement of upcoming properties in Petaling Jaya and Jakarta. The Somerset Damansara Uptown Petaling Jaya, which will mark the group’s entry into the Malaysian city, is slated to open in 2016 with 200 units, forming part of an integrated development that also includes a 37,000-square-metre retail mall and five commercial towers. As for the Indonesian capital city of Jakarta, Ascott will be opening the 187-unit Somerset Kencana Jakarta in the district of Pondok Indah in 2014. Ascott Group has six properties scheduled to open in the two countries over the next three years.

Singapore Airlines To Set Up New Low-Cost Carrier Return to Headlines
Singapore Airlines (SIA) has plans to launch a budget airline to tap into the market demand for low-cost medium- to long-haul flights. The low-cost carrier, which will be wholly owned by SIA but independently operated and separately managed, will be using wide-body, double-aisle aircraft for the routes. SIA currently also runs a mid-price airline, SilkAir, and owns 32.9% of budget carrier Tiger Airways. The new airline, which is expected to be positioned above Tiger Airways, will provide stiff competition to airlines such as AirAsia X and Virgin Group. Details for the new airline have yet to be announced but it is expected to be launched within a year.
Major Deal Between Poly Real Estate And InterContinental Return to Headlines
InterContinental Hotels Group (IHG) and Poly Real Estate Group Co Ltd have signed on a major management contract which will cover six hotels over three different brands in China’s emerging secondary and tertiary markets. The six newly signed projects are in Guangdong and Jiangxi provinces and consist of three InterContinental hotels, two Crowne Plaza hotels and one Holiday Inn hotel. They include the 300-key InterContinental Shunde, the 300-key Crowne Plaza Nanchang Wanli and the 253-key Holiday Inn Guangzhou Science City. The six hotels, which are expected to open between 2014 and 2015, will add approximately 1,773 guestrooms to IHG’s China pipeline.
Absolute Share Price Performance, as at 27 may 2011
Closing Share Price as at 27 May 2011 20 May 2011 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited 5.83 5.80 1%
General Property Group 3.13 3.14
Mirvac Group 1.26 1.28 -1%
Ocean Capital Limited 0.18 0.18
Thakral Holdings Group 0.59 0.58 1%
Living and Leisure Australia Group 0.021 0.023 -9%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 7.75 7.25 7%
Dusit Thani Public Co Ltd 38.00 37.75 1%
The Erawan Group Public Co Ltd 2.64 2.60 2%
Grande Asset Hotels and Property Public Co Ltd 2.26 2.46 -8%
Laguna Resorts & Hotel Public Co Ltd 58.25 58.75 -1%
Minor International Public Co Ltd 12.20 12.40 -2%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 18.26 19.02 -4%
Beijing Capital Tourism Co Ltd 17.41 19.54 -11%
Jinling Hotel Corporation Ltd 9.04 9.87 -8%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 6.12 6.46 -5%
Guangzhou Dong Fang Hotel Co Ltd 11.25 11.84 -5%
Shenzhen Century Plaza Hotel Co Ltd 6.79 7.68 -12%
Home Inns & Hotels Management Inc 40.67 38.69 5%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 9.52 9.43 1%
Regal Hotels International Holdings Ltd 3.29 3.39 -3%
Sino Hotels Holdings Ltd 2.45 2.47 -1%
The Hong Kong & Shanghai Hotels Ltd 12.92 13.12 -2%
Shangri-La Asia Limited 20.00 20.45 -2%
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 78.75 79.75 -1%
EIH (Oberoi Hotels & Resorts) 82.40 83.90 -2%
Hotel Leela Ventures 39.70 40.60 -2%
Korea Exchange (KRW)
The Shilla 28,800 27,600 4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.40 0.41 -2%
Ascott Residence Trust 1.17 1.19 -2%
Banyan Tree Holdings Limited 0.90 0.89 1%
CDL HTrust 2.06 2.09 -1%
Hotel Grand Central Ltd 0.78 0.76 3%
Hotel Properties Ltd 2.35 2.40 -2%
Mandarin Oriental International Ltd (US$) 2.15 2.10 2%
Pan Pacific Hotels Group Limited 1.88 1.83 3%
Stamford Land Corporation Ltd 0.63 0.63
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 558 531 5%
The Ambassador Hotel, Ltd 47.20 46.60 1%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation 250,700 254,000 -1%
Japan Hotel and Resort Inc 182,800 177,700 3%
Imperial Hotel, Ltd 2,030 1,980 3%
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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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