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Featured in this Asia Pacific Hospitality Newsletter |
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Singapore based Ascott Limited will debut in Yangon, Myanmar with its first management contract agreement in the country. The 153-apartment complex, which will include studios, one, two and three-bedroom units, is slated to open in early 2018. The Somerset Yangon will be part of a mixed-use entertainment development approximately 15 minutes from the city centre. Sharing the 2018 opening date is the Somerset Zhuankou Wuhan, the third Ascott property in the city. These expansion plans coincide with Ascott’s 30th anniversary celebrations in 2014.
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Accor’s upscale hotel brand, Pullman, embarks on continuous expansion plans in Asia. Pullman, with the opening of the Pullman Shanghai South, marks a portfolio of fifteen hotels in China and is the brand’s largest market in terms of hotel properties. The strong growth of the brand in the Asia Pacific sees 45 properties across the region at current with plans to open an additional 47 hotels by 2018. Of the hotels in the pipeline, 38 of these 47 hotels are to open in China, with three in India and two in Indonesia.
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Former railway headquarters to be converted into the Peninsula Hotel Yangon
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The historical former Myanmar Railway headquarters in Yangon is to be redeveloped and converted into a new luxury hotel in a strategic agreement between Hongkong and Shanghai Hotels and Myanmar’s Yoma Strategic Holdings. The project was first conceptualised in early 2013 but was recently officialised this month. The new Peninsula Yangon will hope to bring the iconic railway building back to its former glory and add a new luxury experience to Yangon.
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Air In a recent announcement, Hilton Worldwide has confirmed the entry of their luxury arm, the Waldorf Astoria brand, into the Indonesian Market. The 96-villa Waldorf Astoria Bali, situated 40 meters above sea level on a cliff-front side in southern Bali, is located approximately 10 kilometres from Ngurah Rai International Airport. The Bali property is the second Waldorf Astoria property in Asia after Bangkok, and one of four hotels in the Indonesian pipeline for Hilton.
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While the Country Comfort brand is already well established and nationally recognised in Australia, parent company SilverNeedle Hospitality has its eyes set on growing the brand’s presence in Southeast, North and South Asia. In order to appeal towards hotel operators, the upper-midscale brand has redeveloped its franchise and overall business model. The 28-year old Country Comfort line was rebranded in 2013, with the intent on becoming a major market player in the corporate travel segment.
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Hong Kong carrier Cathay Pacific experienced strong growth in 2013 backed primarily by stronger passenger demand as well as lower fuel expenses. The group generated annual profits of HK2.62 billion (US$337.6 million), 203.9% higher than the levels recorded in 2012. Altogether, Cathay Pacific and subsidiary Dragonair, boarded 29.92 million passengers in 2013, 3.3% up from 2012. With the delivery of 14 new passenger planes in 2013 and another 16 new planes in 2014, Cathay Pacific is optimistic about maintaining their strong growth rate this year.
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Absolute Share Price Performance, as at 14 March 2014
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Closing Share Price as at |
14 March 2014
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7 March 2014
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% Change |
Australia Stock Exchange (ASX) |
Amalgamated Holdings Limited |
8.60
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8.50
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1%
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General Property Group |
3.64
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3.72
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-2%
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Mirvac Group |
1.73
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1.75
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-1%
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Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
34.00
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32.00
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6%
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Dusit Thani Public Co Ltd |
54.75
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52.00
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5%
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The Erawan Group Public Co Ltd |
4.06
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4.06
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0%
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Grande Asset Hotels and Property Public Co Ltd |
1.39
|
1.21
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15%
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Laguna Resorts & Hotel Public Co Ltd |
27.50
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26.25
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5%
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Minor International Public Co Ltd |
25.75
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24.80
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4%
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China Shanghai Stock Exchange (RMB) |
Shanghai Jinjiang International Hotels Development |
13.38
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14.42
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-7%
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BTG Hotels Group Co Ltd
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14.27
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-
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-
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Jinling Hotel Corporation Ltd |
8.46
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8.45
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-
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China Shenzhen Stock Exchange (RMB) |
Guangzhou Dong Fang Hotel Co Ltd
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6.19
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6.42
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-4%
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Shenzhen Century Plaza Hotel Co Ltd
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4.52
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5.00
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-10%
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NASDAQ (US$) |
Huazhu Hotels Group Ltd
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23.44
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29.85
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-21%
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Home Inns & Hotels Management Inc |
30.55
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37.56
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-19%
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Hong Kong Stock Exchange (HK$) |
Miramar Hotel & Investment Co Ltd |
9.43
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9.76
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-3%
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Regal Hotels International Holdings Ltd |
3.72
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3.88
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-4%
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Sino Hotels Holdings Ltd |
2.60
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2.72
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-4%
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The Hong Kong & Shanghai Hotels Ltd |
10.50
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10.54
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-
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Shangri-La Asia Limited |
11.96
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12.90
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-7%
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Dorsett Hospitality International
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1.47
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1.55
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-5%
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National Stock Exchange
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IHCL (Taj Hotels, Resorts & Palaces) |
69.00
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71.25
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-3%
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EIH (Oberoi Hotels & Resorts) |
62.65
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62.65
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-
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Hotel Leela Ventures |
15.70
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16.30
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-4%
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Korea Exchange (KRW) |
The Shilla |
86,400
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89,900
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-4%
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Singapore Stock Exchange (S$) |
Amara Holdings Ltd |
0.52
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0.52
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-
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Ascendas Hospitality Trust
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0.73
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0.74
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-1%
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Ascott Residence Trust |
1.18
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1.18
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-
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Banyan Tree Holdings Limited |
0.65
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0.63
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3%
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CDL Hospitality Trusts
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1.63
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1.61
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1%
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Far East Hospitality Trust
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0.81
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0.81
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-
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Hotel Grand Central Ltd |
1.11
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1.12
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-1%
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Hotel Properties Ltd |
2.98
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3.00
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-1%
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Mandarin Oriental International Ltd (US$) |
1.72
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1.70
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1%
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OUE Hospitality Trust
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0.84
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0.84
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-
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Shangri-La Asia Limited (HK$)
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12.26
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13.00
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-6%
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Stamford Land Corporation Ltd
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0.57
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0.58
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-2%
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Taiwan Stock Exchange (NT$) |
Formosa International Hotels Corporation |
348.50
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343.00
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2%
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The Ambassador Hotel, Ltd |
28.05
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28.65
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-2%
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Tokyo Stock Exchange (JPY) |
Japan Hotel REIT Investment Corp.
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47,800
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50,200
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-5%
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Imperial Hotel, Ltd
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2,271
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2,302
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-1%
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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. |