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18 April 2014 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
MGM Resorts and Hakkasan Group create JV to pursue global growth in hospitality
Asia’s MICE agents on a Grand Prix tour of Switzerland
New tourism record for Bali in 2013
Cambodia and Laos come closer
Ascott brings premium brand to Tokyo
10th anniversary facelift unveils new look & branding of J Plus Hotel by YOO
Absolute Share Price Performance, as at 18 April 2014
MGM Resorts and Hakkasan Group create JV to pursue global growth in hospitality Return to Headlines
The new joint venture hotel management company, MGM Hakkasan Hospitality, will focus its effort on developing and managing luxury non-gaming hotels and resorts under both companies’ existing brands like MGM Grand, Bellagio and Hakkasan in prime locations around the world. All existing projects under development will contribute to the joint venture. The partnership will bring together MGM’s experience in global hospitality and exceptional quality of service as well as Hakkasan’s unique global lifestyle approach on nightlife and dining to create future development that maximizes on value on its assets.

Asia’s MICE agents on a Grand Prix tour of Switzerland Return to Headlines

Led by Kuoni Group Travel Experts and hosted by Switzerland Tourism, MICE agents are invited to join the first Asia Trophy Tour which will take them across Switzerland, particularly in the eastern part, providing insider access and authentic Swiss experience. Buyers from different industries will convene and meet with leisure group wholesalers dedicated to the MICE industry. Kuoni’s strong reputation for MICE in the South East Asian markets has helped it to enjoy significant growth over the years. By conducting the tour, Kuoni hopes to reach out to agencies and companies in China and Japan as more corporations are seeking incentive travel options to reward their employees.

New tourism record for Bali in 2013 Return to Headlines

As the Indonesia’s largest destination, Bali welcomed 3,278,697 people last year, exceeding its initial target of 3.1 million travellers. This was also a 13.37% increase from the actual tourism arrival in 2012. August and September were the peak months recorded, reaching 309,219 and 305,629 people respectively. The top markets were Australia, China and Japan while India was the fastest growing market with arrivals up by 28.5%. With the newly opened international air terminal, Bali is now able to receive over 20 million passengers per year. Bali is expected to exceed its 3.5 million target this year.

Cambodia and Laos come closer Return to Headlines

With the shaping of the ASEAN community and the reactivity of the Greater Mekong region, relations between both countries are warming up and reaching new levels of exchange. Tourism data showed that over 414,000 Laotians visited Cambodia last year, an increase of 63% over 2012 while Cambodians crossing over to Laos are estimated at 30,000 people per annum. Plans are currently underway to expand the flights from Laos to Cambodia. The development of a new general consulate based in Siem Reap also marks a new achievement between the ties of both countries. The official meeting between both representatives was organized to discuss on the location of the proposed consulate. Other projects include the new international border gate which was opened recently as well as plans on having a common visa for Laos and Cambodia.

Ascott brings premium brand to Tokyo Return to Headlines

Scheduled to open in 2017, the 129-unit Ascott Marunouchi Tokyo will form a part of Mitsubishi Estate Company (MEC)’s new mixed-use development in central Tokyo, consisting of offices and retail spaces. The Singapore-based Ascott currently operates Citadines and Somerset branded properties in Tokyo and this opening shall be the first Ascott The Residence property. A range of accommodation units will be offered, from studios to three-bedroom apartments, including some with tatami mattresses. Ascott’s CEO, Lee Chee Koon envisaged “significant demand for quality accommodation” in the Japanese capital in the years to come and expects to meet this demand with Ascott’s expansion plans into the city through investments, management contracts and lease agreements.

10th anniversary facelift unveils new look & branding of J Plus Hotel by YOO Return to Headlines

The new facade, designed by renowned designer Philippe Starck, reveals the hotel with a buzzing street-level lobby and main entrance, previous hidden discreetly in Irving Street. YOO, founded by Philippe Starck and entrepreneur John Hitchcox, have created interiors with avant garde design elements to match its eclectic imported European furniture for J Plus Hotel. The makeover is completed with vivid colour themes for the hotel’s 32 studios and 24 stylish suites.

Absolute Share Price Performance, as at 18 April 2014
Closing Share Price as at 18 April 2014 11 April 2014 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited 8.71 8.55 2%
General Property Group 3.83 3.84 -
Mirvac Group 1.76 1.75 1%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 30.00 30.00 -
Dusit Thani Public Co Ltd 50.75 50.75 -
The Erawan Group Public Co Ltd 3.90 3.90 -
Grande Asset Hotels and Property Public Co Ltd 1.54 1.43 8%
Laguna Resorts & Hotel Public Co Ltd 31.50 31.00 2%
Minor International Public Co Ltd 24.50 25.25 -3%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 15.53 15.08 3%
BTG Hotels Group Co Ltd 14.54 14.55 -
Jinling Hotel Corporation Ltd 9.28 8.94 4%
China Shenzhen Stock Exchange (RMB)
Guangzhou Dong Fang Hotel Co Ltd 6.79 6.88 -1%
Shenzhen Century Plaza Hotel Co Ltd 4.77 4.86 -2%
Huazhu Hotels Group Ltd 23.91 23.43 2%
Home Inns & Hotels Management Inc 32.98 32.88 -
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 9.90 9.88 -
Regal Hotels International Holdings Ltd 4.50 4.50 -
Sino Hotels Holdings Ltd 2.64 2.64 -
The Hong Kong & Shanghai Hotels Ltd 10.88 10.98 -1%
Shangri-La Asia Limited 12.96 12.86 1%
Dorsett Hospitality International 1.43 1.48 -3%
National Stock Exchange
IHCL (Taj Hotels, Resorts & Palaces) 74.60 73.80 1%
EIH (Oberoi Hotels & Resorts) 77.25 74.55 4%
Hotel Leela Ventures 18.15 17.60 3%
Korea Exchange (KRW)
The Shilla 79,200 81,100 -2%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.55 0.51 8%
Ascendas Hospitality Trust 0.71 0.71 -
Ascott Residence Trust 1.24 1.21 2%
Banyan Tree Holdings Limited 0.63 0.63 -
CDL Hospitality Trusts 1.77 1.71 4%
Far East Hospitality Trust 0.89 0.86 3%
Hotel Grand Central Ltd 1.20 1.17 3%
Hotel Properties Ltd 3.75 3.13 20%
Mandarin Oriental International Ltd (US$) 1.83 1.82 1%
OUE Hospitality Trust 0.87 0.86 1%
Shangri-La Asia Limited (HK$) 12.86 12.50 3%
Stamford Land Corporation Ltd 0.61 0.59 3%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 368.00 368.00 -
The Ambassador Hotel, Ltd 28.60 28.20 1%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 46,550 46,200 1%
Imperial Hotel, Ltd 2,229 2,210 1%
Return to Headlines
HVS Beijing
Annie Wang
HVS Hong Kong
Daniel Voellm
HVS Guangzhou
Tony Tao
HVS New Delhi
Achin Khanna
HVS Shanghai
Henry Fang
HVS Singapore
Kaushik Vardharajan
HVS Mumbai
Natwar Nagar
HVS Bangkok
Chris Pucher
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.

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