HVS Asia Pacific Hospitality Newsletter - Week Ending 29 January 2021 (February 1, 2021)

Virtual Tour Experience Survey

The COVID-19 pandemic has accelerated the technology and virtual reality scene in every industry, including travel and tourism. With border restrictions in place, many are not able to travel. Hence, tour companies have introduced online travel experiences to showcase a destination, culture, event, various classes and many more. In anticipation of our In Focus: Singapore publication this year, we encourage you to fill in the Virtual Tour Experience Survey, click here.

HVS Monday Musings: Indian Hotels Sector – Performance in 2020

By Akash Datta and Dipti Mohan
This article provides a summary of the Indian hotels sector's performance in 2020.

To view and download the full article, please click here.

Gallant Venture to Acquire 66.25% stake in Singapore-Bintan Resort Holdings for SGD4.94 Million

Singapore-based Gallant Venture Limited (“Gallant Venture”) announced its proposal to acquire 66.25% of shares in the Singapore-Bintan Resort Holdings (“SBRH”), with a total consideration of SGD4.94 million from Keppel Land Limited, Overseas-Chinese Banking Corporation, DBS Bank, UOL Equity Investment and Tropical Resorts Limited. Gallant Venture has valued SBRH at approximately SGD7.5 million, with consideration to its net tangible liabilities, SGD20 million shareholders loans, the related accrued interest and waiver of default interest, as well as the consolidation of the resort’s share of the net tangible asset value of PT Bintan Resort Cakrawala (“PT BRC”). As of 25 January, Gallant Venture mentioned that the selling shareholders have indicated the acceptance company’s acquisition proposal. SBRH is a single-asset investment holding company, whose only asset are shares representing 13.23% of the PT BRC. Gallant Venture’s board mentioned that it believes this acquisition would enable the company to have full control over PT BRC, which allows Gallant to explore various strategic options. The group also aims to enhance the resort’s future value once the tourism industry recovers from the coronavirus pandemic. Currently, PT BRC is the operational arm of Bintan Resorts International, which master plans and manages Bintan Resorts.

Maldives Set to Establish Integrated National Public Ferry Network

The Maldives Government has signed an agreement to establish the first phase of Integrated National Public Ferry Network with Maldives Transport and Contracting Company (“MTCC”) on 17 January 2021. The President’s Office mentioned that the ferry network classifies six central regions and would provide two separate networks for passenger transit and cargo, linking maritime transport with land and air transport. The ferry services will commence at 41 islands in Haa Alif, Haa Dhaalu and Shaviyani Atolls before the end of September 2021. Ferry services will be made available daily via 14 speedboats and three backup speedboats, with a capacity of 40 to 50 passengers each. Through allowing more efficient, affordable, convenient, and sustainable passenger and cargo ferry services, the project aims to facilitate inclusive regional development, accelerate social and economic growth, improve efficiency in the delivery of public services and improve accessibility for Maldivian citizens.

Sunshine Coast’s Sebel Pelican Waters Resort Management Rights Sold

The Sebel Pelican Waters Resort (“Pelican Waters”) was sold to Russell Leary for an undisclosed amount after three failed attempts to purchase in the past ten years. The resort is located seven kilometres south of Calundra Central Business District and comprises of an integrated hotel and residential strata-titled development. Situated on a 1.438-hectare site, the resort features 102 hotel rooms (48 dual keys and 6 single keys), and 62 residential apartments and penthouses on levels five to twelve. Other facilities include a 220-seat The Grill Restaurant, a conference centre, commercial gymnasium and a day spa. While Mr. Leary secured management rights to the resort, Australia-based hospitality operators, Ash and Liz Perks, will take over the latter facilities as part of a high-quality partnership. Mr. Leary is positive about the resort’s future in the next two years, with the borders opening up and the expectation of increased demand in the area. Meanwhile, Pelican Waters’ management rights package will have 16 years remaining upon settlement of sale.

Absolute Share Price Performance, as on 29 January 2021

Closing Share Price as at 29 January 2021 22 January 2021 % Change
Australia Stock Exchange (ASX)
Elanor Investors Group 1.53 1.55 -1.3%
Event Hospitality & Entertainment Ltd 9.66 9.99 -3.3%
General Property Group 4.32 4.37 -1.1%
Mirvac Group 2.38 2.53 -5.9%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 24.80 25.00 -0.8%
Dusit Thani Public Co Ltd 7.60 7.70 -1.3%
The Erawan Group Public Co Ltd 3.60 3.66 -1.6%
Grande Asset Hotels & Property Public Co Ltd 0.56 0.57 -1.8%
Laguna Resorts & Hotel Public Co Ltd 29.75 30.25 -1.7%
Minor International Public Co Ltd 25.00 27.25 -8.3%
S Hotels and Resorts Public Company Limited 2.40 2.56 -6.3%
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd 7.35 7.55 -2.6%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co.,Ltd. 2.47 2.57 -3.9%
Guangzhou Dong Fang Hotel Co Ltd 6.50 7.02 -7.4%
Huazhu Group Limited 46.79 48.15 -2.8%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 14.48 15.04 -3.7%
Regal Hotels International Holdings Ltd 2.79 2.80 -0.4%
Sino Hotels Holdings Ltd 2.49 2.45 1.6%
The Hong Kong & Shanghai Hotels Ltd 6.86 7.00 -2.0%
Shangri-La Asia Limited 6.65 7.12 -6.6%
National Stock Exchange (INR)
Chalet Hotels Ltd 170.45 172.95 -1.4%
IHCL (Taj Hotels, Resorts & Palaces) 121.5 121.5 0.0%
EIH (Oberoi Hotels & Resorts) 94.1 95.4 -1.3%
Hotel Leela Ventures 6.1 6.4 -4.7%
Lemon Tree Hotels Ltd 40.7 41.0 -0.9%
Korea Exchange (KRW)
The Shilla 80900 88100 -8.2%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.40 0.40 0.0%
ARA Htrust (US$) 0.47 0.51 -8.8%
Ascott Residence Trust 1.05 1.06 -0.9%
Banyan Tree Holdings Limited 0.26 0.28 -5.5%
CDL Hospitality Trusts 1.19 1.28 -7.0%
Eagle Htrust 0.14 0.14 0.0%
Far East Hospitality Trust 0.58 0.61 -4.9%
Frasers Hospitality Trust 0.50 0.54 -6.5%
Hotel Grand Central Ltd 1.01 1.00 1.0%
Hotel Properties Ltd 3.10 3.13 -1.0%
Mandarin Oriental International Ltd (US$) 1.74 1.79 -2.8%
Stamford Land Corporation Ltd 0.35 0.35 0.0%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 128.5 128.5 0.0%
The Ambassador Hotel, Ltd 29.8 30.4 -2.1%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 52500 53600 -2.1%
Imperial Hotel, Ltd 1944 1944 0.0%
Red Planet Japan Inc 58 61 -4.9%

For the latest in the hospitality industry, please visit: http://www.hvs.com/. You are also welcome to contact the following personnel.
Hok Yean Chee, Regional President – HVS Asia Pacific [email protected]
Mandeep S. Lamba, President, South Asia – HVS Anarock [email protected]
Mei Leng Ho, Senior Vice President – HVS Singapore [email protected]
Steven Zhu, Vice President – HVS Shanghai [email protected]
Florian Kittler, Managing Director – HVS Executive Search Europe & Asia Pacific [email protected]

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