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Featured in this Asia Pacific Hospitality Newsletter |
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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. |
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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. |
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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. |
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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. |
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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. |
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Absolute Share Price Performance, as at
27 may 2011 |
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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% |
NASDAQ (US$) |
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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Disclaimer: Information provided above has been gathered
from various market sources. HVS has not independently verified the
accuracy of the information provided. Interested parties should not
rely on the information as statement of facts and are advised to
make their own independent checks to verify the information
provided. For further information, please feel free to contact
HVS Singapore. |