In Focus: Singapore 2021

By Peggy Lee, Chariss Kok Xin and Chee Hok Yean
In Focus: Singapore 2021 provides an overview of Singapore’s tourism landscape and hotel market performance, infrastructure development, hotel transactions and investment in 2020, covid-19 situation, outlook and crisis management.

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HVS Monday Musings: The Rise of the Upscale Hotels Segment in India

By Mandeep S Lamba and Dipti Mohan
With changing demand dynamics, hoteliers are once again focusing on the upscale segment, especially while increasing their footprint in the leisure segment. Read on to know more.

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Bexhill’s Cooden Beach Hotel Acquired by Hong Kong Hotelier and Singapore-Based Partner at GBP6.9 Million

Hong Kong hotelier, Grace Leo, and her Singapore-based partner, Tim Hartnoll have acquired the 41-key Cooden Beach Hotel at a guided price of GBP6.9 million from entrepreneur James Kimber. Built in 1928, the four-star freehold property is a beachfront hotel in Bexhill on Sea, East Sussex. Hartnoll, the executive chairman of Singapore-based global shipping company, Sea Consortium group, is a hotel investor whose hospitality interests include the Bawah Reserve in the Anambas Archipelago in Indonesia. Leo, with resort development experience in remote destinations, mentioned that they envision to create an idyllic resort experience for guests to rest and relax in the unique seaside setting. The deal was perceived to be a rare opportunity due to the unique location on the beach and the immense potential to increase the business volume. Therefore, there was a high volume of interest from buyers that were hoping to capture the UK staycation boom forecast once COVID-19 restrictions ease. This acquisition is their second purchase in less than six months, with the first being 35-key The Red Lion Hotel in Henley-on-Thames, which will be refurbished and reopened as the 40-key Relais Henley later this year.

Cross Hotels & Resorts Signs Seven Franchise Hotels in Japan

Thailand-based hospitality operator, Cross Hotels & Resorts (“CHR”), announced their entrance into Japan on 6 April 2021, through the signing of a master franchise agreement with Japan-based hospitality company, AB Accommo Company Limited (“AB Accommo”). The agreement comprises seven properties with 844 keys to be constructed over the next four year across Japan, including Okinawa and Hokkaido. The inaugurated property, Away Okinawa Kouri Island Resort, would feature a boutique beachfront resort that faces the East China Sea. Slated to be opened in July 2021, the property is located on Kouri, an island connected to the main Okinawa island by a two-kilometre sea bridge. Harry Thaliwal, chief executive officer of CHR, stated that Japan has observed one of the largest increase in international tourists and have a strong domestic market. He further states that this strategic entry into the Japanese market is a milestone in the company’s international expansion plan. CHR will be able to tap on AB Accommo’s strong operating platform with an existing 26 hotels and a proven track record of cooperation with investors and developers in Japan. CHR currently operates 21 hotels across Thailand, Vietnam, and Indonesia, featuring three distinct brands, namely Cross, Cross Vibe and Away.

Cambodia to Construct Domestic Airport in Mondulkiri Province

On 1 April 2021, the State Secretariat of Civil Aviation (“SSCA”) announced the construction of a domestic airport in the Mondulkiri province of Cambodia. This announcement was made after a meeting held on 30 March 2021, where SSCA and various representatives from China-based PowerChina International Group (“PIG”), discussed the feasibility of the airport development and a nearby industrial park in the region. The construction is expected to commence in 2022 on a 300-hectare site, with an estimated cost of USD80 million. The proposed site is located about 22-kilometres south of Sen Monorom town in the O’Raing district’s Sen Monorom commune, with the provincial government demarcating a 600-hectare plot for this project. SSCA elaborated that this project models the development of Preah Sihanouk province, where a strong surge in tourism, commerce, investment, and transport volume was observed. The development of Preah Sihanouk has also increased passenger movements, with the Sihanouk International Airport observing a 300% jump from 2017 to 2019. SSCA believes that the construction of the Mondulkiri airport would capitalise on the country’s growing ecotourism projects and aims to attract more investors to the area.

Absolute Share Price Performance, as on 16 April 2021