HVS Releases Market Snapshot: Asia Pacific 2017

Market Snapshot: Asia Pacific 2017 highlights an overview of transaction activity in the region and presents 13 markets’ current hospitality landscape; each covering demand and supply dynamics, hotel performances, and key transactions. The 13 markets include: Australia, Cambodia, Indonesia, Japan, Malaysia, Maldives, Myanmar, New Zealand, Philippines, Singapore, South Korea, Thailand, and Vietnam.
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Mantra Group Agrees to a A$1.18 Billion Buyout from Accor SA

On 12 October, Australia-based Mantra Group agreed to a A$1.18 billion buyout from France-based Accor SA, following a bid just three days before. The deal will be the second biggest in Australia’s hotel sector and will create the largest hotel group in Australia with approximately 50,000 rooms or about 11 per cent of the country’s hotel market. Accor’s offer price of A$3.96 per share is a 23 per cent premium on Mantra Group’s last trade prior to the bid, and more than double of the group’s issue price of A$1.80 when it listed in 2014. Mantra’s board has unanimously voted in favour of the all-cash offer, but is still subject to a shareholder vote next March and necessary regulatory approvals.

Marriott International Debuts Moxy Brand in Asia Pacific

Marriott International has debuted its millennial-focused affordable hotel brand, Moxy Hotels, in Asia Pacific with its opening of Moxy Bandung, Indonesia. Located in the prime district of Dago, the hotel boasts a bold design and fosters communal engagement. The hotel's 109 guestrooms are designed to be functional and flexible, with an open-storage concept and keyless entry. It also features a vibrant lobby with a 24/7 Bar; a communal Living Room space with a lounge and round-the-clock self-service grab-and-go; the Moxy Sky Bar on the rooftop; and four meeting rooms that can accommodate up to 200 guests. Marriott will also be bringing two additional Moxy properties to Asia Pacific this year, with the 205-key Moxy Tokyo Kinshicho and the 155-key Moxy Osaka Honmachi expected to open next month.

Plaza Athénée Bangkok Rebrands as The Athenee Hotel, a Luxury Collection Hotel

Plaza Athenee Bangkok, a Royal Meridien Hotel, has been rebranded after a 1-billion-baht refurbishment. The hotel will henceforth be known as The Athenee Hotel, a Luxury Collection Hotel, and will be managed by Marriott International. The extensive refurbishment comprised the grand lobby, meeting rooms, an expanded bakery and other facilities. Furthermore, with the exception of three suites, which are expected to be ready early next year, all 374 guestrooms and suites have been remodeled to incorporate elements of local culture and royal heritage. The rebranding is aimed at maintaining the hotel’s positioning in the luxury hotel segment amidst strong competition from existing high-end competitors, as well as new additions to supply opening along Ploenchit and Ratchaprasong areas, such as the Rosewood Bangkok and the Waldorf Astoria Bangkok.

Banyan Tree to Debut in Singapore with Eco-Friendly Luxury Resort in Mandai

Singapore-based hospitality company, Banyan Tree Holdings will open its first resort in Singapore with a new eco-friendly development at Mandai. Mandai Park Holdings, the developer spearheading plans to rejuvenate Mandai and turn it into a nature destination with five wildlife parks, has appointed Banyan Tree as the operator of this new resort. To be located on a 4.6-hectare plot of land at the eastern end of Mandai precinct, the resort will provide standard and family rooms as well as elevated cabins or treehouses. Owing to an earlier environmental impact assessment to mitigate disruption to native wildlife, the new resort will be permitted to have a maximum of 400 rooms. Additionally, the development will be capped at four storeys or 21 meters, under existing tree canopies. It will adopt environmentally friendly design and construction, and operate along sustainable principles. With construction expected to start in 2020, the resort could be set to open by year 2023.

Hotel Openings in India this Week

Marriott International announced the opening of the Fairfield by Marriott in Visakhapatnam, Andhra Pradesh. The hotel features 121 rooms and suites with base category rooms measuring 24 square meters. On the food & beverage front, the hotel features a multicuisine restaurant and lounge, a 24/7 grab-and-go counter and approximately 8,900 square feet of indoor meeting and event space. The hotel also features a fitness center. Visakhapatnam is a major port city in Andhra Pradesh and serves as the headquarter of the Eastern Naval Command of India.

Lords Hotels & Resorts opened the Lords Eco Inn Mysuru Road in Bengaluru, Karnataka. Located along Mysuru Road, the hotel features 53 rooms with base category rooms measuring 26 square meters. The hotel also offers a multicuisine restaurant, a lounge, approximately 1,500 square feet of indoor meeting space, a spa and a fitness center.

Louvre Hotels Group announced the opening of the Golden Tulip Essential in Jaipur, Rajasthan. Located along MI Road, the hotel offers 48 rooms and suites with base category rooms measuring 23 square meters. Other facilities at the Golden Tulip Essential include an all-day dining restaurant, a bar, approximately 4,950 square feet of meeting space, and a fitness center. Popularly known as the ‘Pink City’, Jaipur is the capital of Rajasthan and is one of the top leisure destinations in India, forming a part of the Golden Triangle circuit along with Delhi and Agra.

HVS Guide to Hotel Management Contracts | Includes 2017 Survey Results – Global, Americas, EMEA and APAC

The HVS Guide to Hotel Management Contracts presents the results of an extensive review of hotel management agreements conducted across the Americas (USA, Canada and South America), Europe, the Middle East, Africa (EMEA), and the Asia Pacific (APAC) regions, in addition to offering an in-depth understanding of the key terms and clauses of such agreements. It covers 10 principal areas of discussions – management contract term, territorial restrictions, operator fees, operator performance test, budgeting, owner approvals, employees, indemnification, operator investment in property and termination of the agreement – which are considered critical for owner-operator negotiations. Furthermore, the substantive document includes exclusive HVS insights on key contract provisions supplementing the results of an invaluable and extensive survey that truly offer a global perspective by highlighting the common as well as unique trends in the primary geographies of the world. The global survey sample set comprises 475 hotel management contracts representing close to 120,000 rooms and 55 first-tier (branded) hotel management companies, in addition to several second-tier (third-party) management companies and few independent operators. You may order the full guide and survey report, or just a regional report; please select your preferred option prior to making the purchase.
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Absolute Share Price Performance, as on 13 October 2017