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July 6, 2012 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
Home Inns Acquires eJia Express
Sheraton Debuts In Jiaozhou, China
Marriott Launches Li Yu Programme Targeted At Chinese Travellers
Myanmar Introduces Room Rate Cap For Hotels
Starwood To Open Aloft Hotel In Chandigarh India
Absolute Share Price Performance, as at 6 July 2012
Home Inns Acquires eJia Express Return to Headlines

Shanghai-based Home Inns and Hotels Management recently announced the completion of the acquisition of two hotel chain operators in Anhui Province for approximately US$9.4 million. The acquisition is part of the company’s strategy to strengthen the presence of the brand in the emerging economy of Anhui Province. The local hotel chain operators – Anhui Youle Fashion Hotel Management and Anhui Meibang Hotel Management – are collectively referred to as ‘eJia Express’. The eJia Express portfolio consists of 13 leased-and-operated hotels that comprise 1,284 rooms. The portfolio includes nine hotels located at the heart of Hefei, the capital of Anhui Province. The average remaining lease term for all the hotels is approximately eight years. Post-acquisition, all the hotels of eJia Express will be rebranded and will operate under the Home Inns brand. The company projects investments of about US$1,578 per room for rebranding and redevelopment, which are expected to be completed by the next six months.

Sheraton Debuts In Jiaozhou, China Return to Headlines

Starwood Hotels and Resorts Worldwide has announced the opening of the Sheraton Jiaozhou Hotel, the first Sheraton branded hotel in the new district of Jiaozhou, near Qingdao city in Shandong Province, China. The hotel is owned by Qingdao Greentown Jiaozhou Bay Real Estate. Sheraton Jiaozhou boasts 270 comfortable contemporary guestrooms including 31 suites. The hotel also features three food and beverage outlets, a fitness centre offering the Sheraton Fitness Programme from Core Performance, a Shine spa and 2,131 square metres of meeting and conference space. According to Starwood Hotels and Resorts Worldwide, a total of 12 Sheraton hotels will be opened in China by the end of this year.

Marriott Launches Li Yu Programme Targeted At Chinese Travellers Return to Headlines

Marriott International has introduced a welcome programme called ‘Li Yu’ (meaning ‘serve with courtesy’ in Mandarin) for outbound Chinese travellers, offering customised amenities in suites and tailored services. Chinese guests visiting Marriott’s portfolio of brands will be able to experience this personalised hospitality prior to their arrival and throughout their stay at the company’s hotels, first in Asia and eventually in key gateway cities around the world. At hotels with the ‘Li Yu’ programme, Mandarin-speaking staff will be on hand to welcome Chinese guests upon arrival. Other amenities include complimentary Chinese tea in the guestrooms, a variety of Chinese programmes available on in-room televisions and a choice of Chinese-language newspapers.

Myanmar Introduces Room Rate Cap For Hotels Return to Headlines
Myanmar’s Ministry of Hotels and Tourism has introduced a room rate cap of US$150 per room per night for hotels under its Foreign Direct Investment (FDI) scheme. The cap was put in place due to the fears that skyrocketing prices will damage the image of the industry, according to the Minister, U Tint Hsan, at Ministry of Hotels and Tourism. He also added that the ministry would not recommend visa extensions for the general managers of hotels that fail to observe the limit, while lease extensions permitted under the foreign investment law could also be threatened. Furthermore, action will also be taken against general managers and parent companies of hotels that provide incorrect room and occupancy rates to the ministry.
Starwood To Open Aloft Hotel In Chandigarh India Return to Headlines
Starwood Hotels and Resorts Worldwide has announced the opening of its fourth Aloft hotel in Chandigarh, India. The hotel is opened in partnership with Urbanedge Hotels, a special purpose vehicle (SPV) of Auromatrix. Located on the Ambala– Chandigarh National Highway at Zirakpur, Aloft Chandigarh Zirakpur features forward-thinking technology and a vibrant social atmosphere. The hotel offers 170 loft-like guestrooms along with other features such as four meeting and conference facilities, a state-of-the-art fitness centre, a 24-hour restaurant, a lounge bar and an outdoor pool.
Absolute Share Price Performance, as at 6 July 2012
Closing Share Price as at 6 July 2012 29 June 2012 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited 6.60 6.45 2%
General Property Group 3.34 3.29 2%
Mirvac Group 1.28 1.28 -
Ocean Capital Limited 0.18 0.18 -
Thakral Holdings Group 0.755 0.760 -1%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 13.70 12.50 10%
Dusit Thani Public Co Ltd 34.00 34.00 -
The Erawan Group Public Co Ltd 2.62 2.58 2%
Grande Asset Hotels and Property Public Co Ltd 1.15 1.16 -1%
Laguna Resorts & Hotel Public Co Ltd 38.25 39.50 -3%
Minor International Public Co Ltd 14.60 14.00 4%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 15.83 15.82 -
Beijing Capital Tourism Co Ltd 12.67 12.16 4%
Jinling Hotel Corporation Ltd 7.54 7.15 5%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 4.80 4.68 3%
Guangzhou Dong Fang Hotel Co Ltd 7.21 6.80 6%
Shenzhen Century Plaza Hotel Co Ltd 4.58 4.59 -
Home Inns & Hotels Management Inc 20.67 22.66 -9%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.28 8.28
Regal Hotels International Holdings Ltd 2.90 2.90
Sino Hotels Holdings Ltd 2.37 2.45 -3%
The Hong Kong & Shanghai Hotels Ltd 10.48 10.44
Shangri-La Asia Limited 15.14 14.70 3%
kosmopolito Hotel International 1.41 1.41 -
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 63.9 61.8 3%
EIH (Oberoi Hotels & Resorts) 81.3 80.2 1%
Hotel Leela Ventures 32.5 33.6 -3%
Korea Exchange (KRW)
The Shilla 52,100 55,600 -6%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.38 0.37 3%
Ascott Residence Trust 1.14 1.09 5%
Banyan Tree Holdings Limited 0.56 0.53 6%
CDL HTrust 1.90 1.86 2%
Hotel Grand Central Ltd 0.79 0.77 3%
Hotel Properties Ltd 1.95 1.89 3%
Mandarin Oriental International Ltd (US$) 1.40 1.29 9%
Pan Pacific Hotels Group Limited 1.85 1.79 3%
Shangri-La Asia Limited (HK$) 14.40 14.62 -2%
Stamford Land Corporation Ltd 0.57 0.56 2%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 320 317 1%
The Ambassador Hotel, Ltd 29.30 29.60 -1%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 21,200 21,250 -
Imperial Hotel, Ltd 2,440 2,400 2%
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Michelle Hui
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