HVS Global Webinar 2021: The Impact of COVID-19 on Global Hotel Values

HVS in conjunction with our friends at EP Business in Hospitality, are pleased to invite you to join our colleagues from around the world as we discuss the impact on hotel values from both a regional and global perspective, at a time to suit your location.

To register for the global webinar, please click here.  

HVS Monday Musings: Hospitality Hiring: is the Pendulum Swinging Back?

By Mandeep S Lamba and Dipti Mohan
Hiring momentum in the Indian hospitality industry is improving as several companies resume their hiring plans. However, various issues may make it difficult for them to close the gaps. Read on to know more.

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

Ascott Partners with Sun Group to Manage Vietnam’s Most Extensive Service Residence Integrated Development

Singapore-based CapitaLand Investment’s owned lodging business unit, The Ascott Limited (“Ascott”), has partnered with Vietnam-based real estate developer, Sun Group, to manage serviced residences within Tay Ho View Complex in Hanoi, Vietnam. The development is located in one of Hanoi’s most exclusive districts, next to the famous West Lake. In addition to the serviced residences managed by Ascott, the development will also offer commercial and retail elements. Ascott intends to debut two new brands to the complex; luxury serviced residences known as The Crest Collection (28 units), and Ascott The Residence (1,167 units) and Citadines Apart’hotel (710 units). The serviced residences are expected to open in phases from Q1 2023. To date, Ascott has achieved a record of over 2,800 new units in Vietnam by adding 1,905 lodging units across three serviced residences, exceeding the company’s full-year signings in the country over previous years. The partnership brings Ascott's portfolio in Vietnam to approximately 9,200 lodging units in more than 30 properties across twelve cities.

New APAC Hospitality-focus Private Equity Real Estate Firm Established

A new private equity real estate firm, Hospitality Private Equity Partners (“H-PEP”), with a focus on hotel acquisition opportunities in the Asia Pacific, has been established by leading hotel industry investment executives Phil Kasselis, Luke Sullivan and Ed Faraguna. Based in Singapore, H-PEP will focus on upscale, upper-upscale and luxury hotels in Asia’s gateway cities and resort locations, targeting investment opportunities with the potential to add value to the assets through re-branding, refurbishments, and revitalisation to optimise performance. Presently, the firm is in discussions with its investors to raise USD500 million for hospitality opportunities through a fund structure, separately managed accounts or direct investments. H-PEP is confident that the current market cycle has provided countless opportunities to invest in underperforming hospitality assets, enhance the assets and implement new values, and benefit from the post-covid travel recovery in the dynamic region.

Kampot International Tourism Port to Complete by End 2021

Slated to complete by the end of 2021, Kampot International Tourism Port will become an international maritime gateway, a vital component in the national transportation system, and an important magnet for national and international tourists to Cambodia. Located in Teuk Chhou district about 6 kilometres west of Kampot town, the project is financed by an USD8 million loan from the Asian Development Bank as part of the Tourism Growth Infrastructure Development Project for the Greater Mekong Subregion. Spanning four hectares with a water depth of 4.5 metres, the port is built to international standards and is expected to handle approximately one million passengers annually. The seaport is 300 metres long and capable of accommodating vessels carrying 300 to 400 passengers. The project is expected to improve accessibility for travellers from neighbouring countries to Kampot province’s wide-ranging selection of natural attractions and tourist destinations.

Absolute Share Price Performance, as on 15 October 2021