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Featured in this Asia Pacific Hospitality Newsletter |
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Kuala Lumpur International Airport (KLIA) 2, the new budget carrier terminal, will open next year in May. Developed at a cost of approximately MYR3.6 billion (US$1.2 billion), the KLIA 2 will feature 60 gates, 80 aerobridges and 225 retail outlets and will commence operations with 10 airlines. Additionally, the terminal will be capable of serving 30 million passengers a year in its initial stage of operation, with the ability to handle 45 million passengers in the future. KLIA 2 will be located two kilometres from the main KLIA terminal, and upon completion, will be the largest low-cost terminal in the region, with a total area of 257,000 square metres.
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Starwood has launched its first W Hotel in Singapore with the opening of the W Singapore Sentosa Cove. The 240-room property is located on Sentosa Island and is situated in an urban resort-style complex. The property has been designed by London-based architects WATG and renowned design firm Rockwell Group and is located adjacent to the 228 key The Residences at W Singapore. The opening of W Singapore Sentosa Cove brings Starwood Hotels and Resorts' total W Hotel portfolio to 43 properties worldwide.
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Asia's first Legoland theme park has opened in the state of Johor, in southern Malaysia, close to the border with Singapore. The new theme park, operated by Merlin Entertainments, covers over 30 hectares of land and will feature 40 rides, shows and attractions. There are plans to add a water park and a hotel by 2014, which upon completion will make Legoland Malaysia the largest destination resort in Southeast Asia. The theme park is Merlin Entertainments' sixth Legoland worldwide and there are currently plans to open new parks in Japan and South Korea in the future.
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The Chifley, Brisbane's landmark hotel, will undergo refurbishments and will be rebranded as the world's first NEXT® Hotel. The property was acquired by SilverNeedle Hospitality, which has managed the hotel for the last 15 years, for approximately AUD$57 million (US$59.3 million) from Abacus Investment Group. The hotel's current room inventory will increase from 150 rooms to 300 rooms and is scheduled to open in 2014 under SilverNeedle's flagship brand, NEXT® Hotels and Resorts. The Chifley will be one of the largest hotel rebuilding projects in Australia in recent years.
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In an effort to grow its presence and portfolio in Europe and the Middle East, Taiwan-based Regent Hotels & Resorts has signed a long-term Strategic Alliance Agreement with Rezidor. This strategic alliance will see Rezidor develop and operate new Regent hotels exclusively in the Middle East, Africa, Russia, the CIS and the Baltic States. Additionally, both companies will jointly operate properties in the rest of Europe. Regent, a luxury brand, is currently owned by Taipei's Formosa International Hotels and has been previously owned by Four Seasons and Carlson.
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Destination Feature is a new monthly segment in the Asia Pacific Newsletter, which will cover both key and emerging markets in the region. This special feature will highlight major trends and new developments, as well as the tourism and hospitality outlook of these markets.
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Brisbane is the capital and the most populous city in the Australian state of Queensland. The city serves as a key business hub for Australia and has experienced solid economic growth in recent years, driven by the resources boom which has benefitted Australia as a whole. Tourism is a major component of the Brisbane economy, with the city serving as an important gateway for Queensland to other areas such as the Gold Coast and the Sunshine Coast. Together with Sydney and Melbourne, Brisbane is one of the most popular destinations in Australia for international travellers. One of the city's main tourist attractions is the Queen Street Mall, regarded as not just Brisbane's, but also Queensland's premier shopping destination. Just across the Victoria Bridge over the Brisbane River towards West End, there's also Queensland Performing Arts Centre, the Queensland Art Gallery, and a whole row of food and beverage outlets along the riverside.
According to the Australian Bureau of Statistics, there are 192 hotels offering 12,958 rooms in 2011 in Brisbane, with Four-Star and Three-Star hotels forming the majority of this hotel supply, at approximately 90%. The Five-Star hotel segment has not seen much movement over the years, with just 8 hotels in the city from 2005 to 2010 before dropping to 6 hotels in 2011. However, the city has witnessed some changes to its hotel market landscape in 2012. The Holiday Inn Brisbane as been rebranded to Traders Hotel Brisbane in August this year and Hilton Brisbane recently completed a A$38-million refurbishment across the entire property. It has also been announced in the media that SilverNeedle Hospitality has acquired Chifley's at Lennons Brisbane and will be converting it into a 300-room property, scheduled to be opened in 2014 as the world's first NEXT® Hotel.
The city has also undergone a number of infrastructural improvements recently, such as the A$350 million upgrade of the domestic terminal of the Brisbane Airport and the A$140 million expansion of the Brisbane Convention & Exhibition Centre. The improvements will be well placed to serve the city, especially with the G20 Summit to be held in Brisbane in 2014. The presence of top class facilities and the hosting of major events such as the G20 Summit are set to provide a boost to the accommodation market in Brisbane.
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Absolute Share Price Performance, as at 21 September 2012
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Closing Share Price as at |
21 September 2012
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14 September 2012
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% Change |
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Australia Stock Exchange (ASX) |
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Amalgamated Holdings Limited |
6.70
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6.80
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-1%
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General Property Group |
3.42
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3.52
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-3%
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Mirvac Group |
1.40
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1.45
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-3%
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Ocean Capital Limited |
0.14
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0.15
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-7%
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Thakral Holdings Group |
0.81
| 0.81
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1%
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Bangkok Stock Exchange (THB) |
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Central Plaza Hotel Public Co Ltd |
16.90
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17.10
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-1%
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Dusit Thani Public Co Ltd |
46.00
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43.00
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7%
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The Erawan Group Public Co Ltd |
2.98
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2.82
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6%
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Grande Asset Hotels and Property Public Co Ltd |
1.33
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1.17
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14%
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Laguna Resorts & Hotel Public Co Ltd |
37.00
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36.25
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2%
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Minor International Public Co Ltd |
15.70
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15.40
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2%
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China Shanghai Stock Exchange (RMB) |
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Shanghai Jinjiang International Hotels Development |
15.15
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15.31
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-1%
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Beijing Capital Tourism Co Ltd |
12.01
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12.64
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-5%
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Jinling Hotel Corporation Ltd |
6.80
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7.11
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-4%
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China Shenzhen Stock Exchange (RMB) |
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Hunan Huatian Great Hotel Co Ltd |
4.40
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4.61
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-5%
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Guangzhou Dong Fang Hotel Co Ltd |
7.39
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7.67
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-4%
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Shenzhen Century Plaza Hotel Co Ltd |
4.43
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4.47
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-1%
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NASDAQ (US$) |
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China Lodging Group, Limited
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15.89
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14.54
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9%
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Home Inns & Hotels Management Inc |
24.29
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25.74
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-6%
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Hong Kong Stock Exchange (HK$) |
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Miramar Hotel & Investment Co Ltd |
9.40
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9.51
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-1%
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Regal Hotels International Holdings Ltd |
3.32
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3.29
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1%
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Sino Hotels Holdings Ltd |
2.80
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2.60
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8%
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The Hong Kong & Shanghai Hotels Ltd |
8.95
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9.40
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-5%
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Shangri-La Asia Limited |
15.00
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14.70
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2%
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kosmopolito Hotel International
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1.75
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1.80
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-3%
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Bombay Stock Exchange (INR) |
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IHCL (Taj Hotels, Resorts & Palaces) |
62.50
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60.70
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3%
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EIH (Oberoi Hotels & Resorts) |
77.05
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78.85
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-2%
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Hotel Leela Ventures |
28.55
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29.50
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-3%
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Korea Exchange (KRW) |
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The Shilla |
58,100
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55,000
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6%
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Singapore Stock Exchange (S$) |
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Amara Holdings Ltd |
0.41
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0.38
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8%
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AscendasHT
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0.92
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0.91
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1%
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Ascott Residence Trust |
1.23
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1.25
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-2%
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Banyan Tree Holdings Limited |
0.62
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0.60
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3%
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CDL HTrust |
1.98
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1.99
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-1%
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Far East HTrust
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1.00
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0.99
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1%
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Hotel Grand Central Ltd |
0.87
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0.82
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6%
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Hotel Properties Ltd |
2.88
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2.89
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-
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Mandarin Oriental International Ltd (US$) |
1.51
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1.42
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6%
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Pan Pacific Hotels Group Limited |
2.27
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2.12
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7%
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Shangri-La Asia Limited (HK$)
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14.62
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14.22
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3%
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Stamford Land Corporation Ltd |
0.58
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0.56
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4%
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Taiwan Stock Exchange (NT$) |
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Formosa International Hotels Corporation |
364
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334
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9%
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The Ambassador Hotel, Ltd |
34.40
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33.40
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3%
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Tokyo Stock Exchange (JPY) |
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Japan Hotel REIT Investment Corp.
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21,440
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21,730
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-1%
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Imperial Hotel, Ltd |
2,115
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2,080
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2%
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Return to Headlines |
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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. |
