By Mandeep S Lamba and Dipti Mohan
Cloud kitchens have grown in conjunction with dine-in restaurants in the past decade. This article discusses some of the factors that have helped in the growth of cloud kitchens in India.
To view and download the full article, please click here.
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Switzerland-based global private markets firm, Partners Group and Singapore sovereign wealth fund, GIC have joined hands together with Australia-based hospitality operator, Salter Brothers, to acquire a portfolio of eleven Travelodge hotels in Australia in an AUD620 million deal. The firms will purchase the portfolio from Australia-based property group, Mirvac, and NRMA, a travel company in Australia and New Zealand. This deal marks the largest hotel portfolio transaction in Australia. According to Rahul Ghai, managing director of Partners Group, the portfolio will allow the firm to “gain immediate scale in the sector at a discount to pre-pandemic prices”. Travelodge’s hotels include over 2,000 rooms across key metropolitan centres in Australia such as Sydney, Melbourne, and Brisbane. Partners Group believes that this acquisition will provide an opportunity to capitalise on the long-term relative value of Australia’s hospitality sector. The joint venture amongst three firms will see them improve the utilisation of hotels through initiatives like rebranding, select upscaling, and widening visibility through the expansion of loyalty and rewards programmes. This deal marks the third direct real estate investment in Asia this year for Partners Group and their real estate business currently stands at USD17 billion in assets under management.
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Thailand-based hotel operator Minor International (“Minor”) has announced the sale of two properties, Tivoli Marina Vilamoura and Tivoli Carvoeiro in Algarve, Portugal to Spain-based real estate investment manager, Azora European Hotel & Lodging (“Azora”) for EUR148 million. Situated 30 minutes’ drive from Faro Airport, the 383-key Tivoli Marina Vilamoura features four restaurants, three bars, an indoor swimming pool and two outdoor swimming pools, a spa, a gymnasium, a kid’s playground and over 12,000-square-metre indoor and outdoor event space. The 248-key Tivoli Carvoeiro is 50 minutes’ drive from Faro Airportand features three restaurants, three bars, a swimming pool, a kid’s playground, a spa, and a 1,300-square-metre event space. Minor will continue to operate both hotels under the name Tivoli for 20 years with options to extend an additional 10 years. The completion of the sale brings a net gain of EUR26 million for Minor and will further improve the overall return of the Tivoli portfolio. Earlier this month, Minor has signed another sale-and-leaseback agreement over the 255-key NH Collection Barcelona Gran Hotel Calderón with US-based LaSalle Investment Management for EUR125.5 million, part of Minor’s planned asset rotation decision made in 2020.
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Clark International Airport’s (“CIA”) new passenger terminal building has been completed and slated to open soon. Located 1.5-kilometre from the existing Clark passenger terminal, the new passenger terminal will cater to both domestic and international passengers. It has four levels, 18 aerobridges, a floor area of 110,000 square metres and a capacity for eight million passengers annually. The operations and management of CIA will be overseen by the consortium, Luzon International Premiere Airport Development Corporation (“LIPAD”). CIA is also expected to create 150,000 new jobs, about 0.4% of the total employed persons in the Philippines. During the inspection of the new building on 17 July 2021, the Department of Tourism expressed continued support for the government’s infrastructure programme. Department of Transportation Secretary, Arthur Tugade, stated that this new terminal will provide a modern travel experience and help the economy recover from the COVID-19 pandemic, whilst equipping Northern and Central Luzon with transportation infrastructure for future development. Through production links, multiple supporting industries such as tourism, services and infrastructure industries are expected to benefit from these improvements. LIPAD has also mentioned that the new terminal building was designed with the global pandemic in mind to provide a safe experience for travelers; it is thus equipped with advanced technologies and vital contactless solutions.
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On 15 July 2021, the Thailand government has launched the “Samui Plus Model” project, where vaccinated international tourists could visit the island of Koh Samui, Koh Tao, and Koh Pha Ngan. This project is similar to the Phuket Sandbox, where visitors are required to stay in Alternative Local Quarantine (ALQ) hotels upon arrival and have to undergo a COVID-19 test. The visitors can leave their rooms and enjoy the hotel’s facilities upon a negative COVID-19 result. Visitors can travel in designated routes on the island from day four to day seven and could move out of the ALQ hotels from day eight onwards. Visitors could travel freely in Thailand after 14 days. To facilitate this project, Bangkok Airways have resumed its first international service between Samui and Singapore, with a flight frequency of three flights per week. Officials expect this project to generate TBH180 million in its first month and are discussing plans to reopen several islands in Krabi and Phangnga in August and September, respectively.
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Closing Share Price as at |
30 July 2021 |
23 July 2021 |
% Change |
Australia Stock Exchange (ASX) |
Elanor Investors Group |
1.93 |
1.93 |
0.3% |
Event Hospitality & Entertainment Ltd |
12.53 |
11.86 |
5.6% |
General Property Group |
4.67 |
4.75 |
-1.7% |
Mirvac Group |
2.86 |
2.86 |
0.0% |
Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
28.50 |
29.50 |
-3.4% |
Dusit Thani Public Co Ltd |
9.25 |
9.90 |
-6.6% |
The Erawan Group Public Co Ltd |
2.72 |
2.80 |
-2.9% |
Grande Asset Hotels & Property Public Co Ltd |
0.54 |
0.53 |
1.9% |
Laguna Resorts & Hotel Public Co Ltd |
29.50 |
30.25 |
-2.5% |
Minor International Public Co Ltd |
29.75 |
29.00 |
2.6% |
S Hotels and Resorts Public Company Limited |
3.16 |
3.34 |
-5.4% |
China Shanghai Stock Exchange (RMB) |
Jinling Hotel Corporation Ltd |
5.32 |
5.88 |
-9.5% |
China Shenzhen Stock Exchange (RMB) |
Huatian Hotel Group Co.,Ltd. |
2.46 |
2.65 |
-7.2% |
Guangzhou Dong Fang Hotel Co Ltd |
6.56 |
7.13 |
-8.0% |
NASDAQ (US$) |
Huazhu Group Limited |
44.98 |
47.10 |
-4.5% |
Hong Kong Stock Exchange (HK$) |
Miramar Hotel & Investment Co Ltd |
14.50 |
15.08 |
-3.8% |
Regal Hotels International Holdings Ltd |
3.96 |
4.00 |
-1.0% |
Sino Hotels Holdings Ltd |
2.44 |
2.45 |
-0.4% |
The Hong Kong & Shanghai Hotels Ltd |
6.85 |
7.41 |
-7.6% |
Shangri-La Asia Limited |
6.90 |
7.02 |
-1.7% |
National Stock Exchange (INR) |
Chalet Hotels Ltd |
177.05 |
171.00 |
3.5% |
IHCL (Taj Hotels, Resorts & Palaces) |
145.1 |
146.8 |
-1.2% |
EIH (Oberoi Hotels & Resorts) |
111.3 |
112.9 |
-1.4% |
Hotel Leela Ventures |
10.1 |
9.8 |
3.1% |
Lemon Tree Hotels Ltd |
41.2 |
40.6 |
1.6% |
Korea Exchange (KRW) |
The Shilla |
93500 |
94300 |
-0.8% |
Singapore Stock Exchange (S$) |
Amara Holdings Ltd |
0.38 |
0.37 |
1.4% |
ARA Htrust (US$) |
0.54 |
0.56 |
-2.7% |
Ascott Residence Trust |
1.03 |
1.01 |
2.0% |
Banyan Tree Holdings Limited |
0.31 |
0.31 |
0.0% |
CDL Hospitality Trusts |
1.21 |
1.21 |
0.0% |
Eagle Htrust |
0.14 |
0.14 |
0.0% |
Far East Hospitality Trust |
0.58 |
0.58 |
0.0% |
Frasers Hospitality Trust |
0.52 |
0.52 |
-1.0% |
Hotel Grand Central Ltd |
1.05 |
1.03 |
1.9% |
Hotel Properties Ltd |
3.30 |
3.30 |
0.0% |
Mandarin Oriental International Ltd (US$) |
1.99 |
2.00 |
-0.5% |
Stamford Land Corporation Ltd |
0.53 |
0.53 |
0.0% |
Taiwan Stock Exchange (NT$) |
Formosa International Hotels Corporation |
151.0 |
154.5 |
-2.3% |
The Ambassador Hotel, Ltd |
28.3 |
29.3 |
-3.4% |
Tokyo Stock Exchange (JPY) |
Japan Hotel REIT Investment Corp. |
66700 |
64000 |
4.2% |
Imperial Hotel, Ltd |
1843 |
1835 |
0.4% |
Red Planet Japan Inc |
55 |
55 |
0.0% |
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