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June 15, 2012 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
Singapore’s Orchard Parade Mulls REIT Listing
Starhill REIT Buys Three Marriott Hotels In Australia For US$411 Million
Mandarin Oriental To Debut In Guangzhou
Carlson Rezidor Signs Three New Hotels In China
Centara To Open Two Resorts In Sri Lanka
Absolute Share Price Performance, as at 15 June 2012
Singapore’s Orchard Parade Mulls REIT Listing Return to Headlines

Singapore-listed Orchard Parade Holdings Limited (OPHL), the hotel and property arm of Far East Organization (FEO), is seeking shareholders' approval to divest three hospitality assets into a real estate investment trust (REIT) to be listed on the Singapore Exchange Limited (SGX). Under the REIT transaction, OPHL’s hospitality assets, namely Orchard Parade Hotel, Albert Court Village Hotel and Central Square Village Residences, will be injected into the proposed Far East Hospitality Trust for at least S$702 million. OPHL will then acquire a 33% stake in the REIT manager and the Trustee-Manager. In addition, OPHL will also undergo an asset swap transaction with FEO to acquire a portfolio of medical suites in Novena Medical Centre and Novena Specialist Centre, as well as the entire hospitality management business of FEO. The group also intends to change its name to Far East Orchard Limited to better reflect its close alignment with its substantial shareholder and to leverage on the Far East brand.

Starhill REIT Buys Three Marriott Hotels In Australia For US$411 Million Return to Headlines

Malaysia’s Starhill Real Estate Investment Trust (Starhill REIT) has signed pacts to buy three Marriott hotels in Australia for A$415 million (US$411 million). Starhill REIT entered into the agreements via its indirect wholly owned subsidiaries and trusts to acquire the hotel properties and business assets of Sydney Harbour Marriott Hotel, Brisbane Marriott Hotel and Melbourne Marriott Hotel from the respective vendors of the hotels. According to Starhill REIT, the acquisition will increase Starhill REIT's asset value from MYR1.58 billion (US$0.5 billion) to some MYR3 billion (US$0.94 billion) comprising hospitality assets in Malaysia, Japan and Australia. The purchase consideration will be satisfied in cash via bank borrowings and cash balances of Starhill REIT.

Mandarin Oriental To Debut In Guangzhou Return to Headlines

Mandarin Oriental is expanding its portfolio of luxury hotels in China with the opening of the Mandarin Oriental, Guangzhou scheduled for later this year. The hotel which will have 233 rooms, 30 suites and 24 serviced apartments is located at TaiKoo Hui, a 450,000-square-metre mixed-use development comprising luxury shopping, grade-A office space and an impressive cultural centre, in Guangzhou’s Tianhe Central Business District. There are five dining and cocktail venues, including a signature grill restaurant, a Cantonese restaurant and the Mandarin Cake Shop. Other facilities include a 750-square-metre ballroom, a nine-room spa, a fitness centre and a heated outdoor pool.

Carlson Rezidor Signs Three New Hotels In China Return to Headlines
Carlson Rezidor Group has announced the inking of hotel management contracts for Radisson Blu Plaza Wuxi, Radisson Blu Chengdu East and Radisson Blu Wuhan. These three hotels add to the company’s 33 existing hotels in operation and under development in China. Expected to open in 2014, Radisson Blu Plaza Wuxi is a 300-key hotel in the prime district of Xishan, which is one of Wuxi's fastest growing districts. Located in Media Plaza, the 242-room Radisson Blu Chengdu East is expected to open in June 2014. The 348-room Radisson Blu Wuhan is located in the centre of the Wuhan Economic and Technological Development Zone and is expected to open in June 2014.
Centara To Open Two Resorts In Sri Lanka Return to Headlines
Thailand's leading hotel group, Centara Hotels and Resorts, will open its first two properties in Sri Lanka during the second half of this year. The Centara Passikudah Resort and Spa Sri Lanka, and Centara Ceysands Resort and Spa will be operated under management contracts. Centara Passikudah Resort and Spa Sri Lanka is a 126-room property next to the beach at Passikudah, renowned for its long stretch of shallow coastline, while Centara Ceysands Resort and Spa, Sri Lanka is on the Paradise Island peninsula at Bentota, flanked on one side by the Indian Ocean and the other by the Bentota River.
Absolute Share Price Performance, as at 15 June 2012
Closing Share Price as at 15 June 2012 8 June 2012 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited 6.36 6.35 -
General Property Group 3.19 3.23 -1%
Mirvac Group 1.26 1.24 1%
Ocean Capital Limited 0.17 0.17 -
Thakral Holdings Group 0.760 0.760 -
Living and Leisure Australia Group 0.051 0.051 -
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 12.20 12.00 2%
Dusit Thani Public Co Ltd 34.00 34.00
The Erawan Group Public Co Ltd 2.62 2.46 7%
Grande Asset Hotels and Property Public Co Ltd 1.15 1.14 1%
Laguna Resorts & Hotel Public Co Ltd 39.00 39.00 -
Minor International Public Co Ltd 13.20 12.80 3%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 16.62 16.03 4%
Beijing Capital Tourism Co Ltd 12.86 12.46 3%
Jinling Hotel Corporation Ltd 7.48 7.34 2%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 5.23 5.11 2%
Guangzhou Dong Fang Hotel Co Ltd 6.92 6.75 3%
Shenzhen Century Plaza Hotel Co Ltd 4.68 4.81 -3%
Home Inns & Hotels Management Inc 22.16 21.91 1%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.16 8.30 -2%
Regal Hotels International Holdings Ltd 2.92 2.85 2%
Sino Hotels Holdings Ltd 2.39 2.36 1%
The Hong Kong & Shanghai Hotels Ltd 10.26 9.70 6%
Shangri-La Asia Limited 14.88 14.94 -
kosmopolito Hotel International 1.35 1.34 1%
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 54.9 55.0 -
EIH (Oberoi Hotels & Resorts) 76.5 78.6 -3%
Hotel Leela Ventures 32.2 30.7 5%
Korea Exchange (KRW)
The Shilla 54,100 56,500 -4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.34 0.35 -3%
Ascott Residence Trust 1.06 1.03 3%
Banyan Tree Holdings Limited 0.51 0.51 -
CDL HTrust 1.89 1.80 5%
Hotel Grand Central Ltd 0.76 0.74 3%
Hotel Properties Ltd 1.91 1.85 3%
Mandarin Oriental International Ltd (US$) 1.29 1.29
Pan Pacific Hotels Group Limited 1.77 1.80 -2%
Shangri-La Asia Limited (HK$) 14.58 14.62 -
Stamford Land Corporation Ltd 0.55 0.55 -
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 341 316 8%
The Ambassador Hotel, Ltd 29.25 29.75 -2%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 20,650 20,300 2%
Imperial Hotel, Ltd 2,390 2,324 3%
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Michelle Hui
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Mark Keith & Daniel Voellm
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