Far East Hospitality to Open Three New Hotels in Sentosa Next Year

Singapore-based Far East Hospitality has announced that it will open three hotels with a combined inventory of 839 rooms in Sentosa, Singapore, in mid-2019. Located at the Artillery Avenue in the Palawan area of Sentosa Island, the three hotels will aim to serve mainly the mid-tier market and attract staycation enthusiasts. The 606-key Village Hotel Sentosa aims to target the mid-tier market, while the The Outpost Sentosa with 193 rooms will cater to young couples who prefer exclusivity. The smallest of the three hotels, with 40 keys, is yet to be named, and will be designed to appeal to guests in the upscale segment. Sentosa, which currently has 13 hotels with a total of 2,500 rooms, expects to see an improvement in visitation consequent to Far East Hospitality’s hotel additions as well as the revamp of the Merlion Gateway that is expected to be completed by 2021.

Renaissance and Marriott Brands Debut in Suzhou Taihu National Tourism Vacation Zone, China

Marriott International recently announced the opening of Suzhou Marriott Hotel Taihu Lake and Renaissance Suzhou Taihu Lake Hotel in Suzhou National Tourism Vacation Zone in China’s Jiangsu Province. Standing side by side, the two hotels are approximately 40 minutes’ drive from Sunan Shuofang International Airport, downtown Suzhouy and Suzhou Park Railway Station; within close proximity to Suzhou Taihu International Conference Center; and near Suzhou Taihu International Golf Club, Dongshan Scenic Area, Xishan Scenic Area and Qionglong Mountain. Renaissance Suzhou Taihu Lake Hotel features 221 guestrooms, 13 suites and 2 villas as well as 4 food and beverage outlets. Suzhou Marriott Hotel Taihu Lake provides 275 guestrooms along with 4 food and beverage outlets. The two hotels share six indoor and outdoor swimming pools, a 415-square-metre kids’ club and other experience facilities that include a fitness center, a yoga room, a steam room, a sauna and a spa. Furthermore, they offer more than 7,388 square meters of flexible event and meeting space, as well as 5,500 square meters of outdoor lawns.

Marriott International Opens the Fairfield by Marriott Coimbatore in Tamil Nadu, India

Marriott International announced the opening of the Fairfield by Marriott Coimbatore in Coimbatore, Tamil Nadu. The hotel, located along Airport Road, features 128 rooms, a multi cuisine restaurant, a 24/7 grab-and-go counter, 2,690 square feet of indoor meeting and event space, and a fitness center. Coimbatore is the second largest city in Tamil Nadu and is a growing business hub for textiles, industries, commerce, education, information technology, healthcare and manufacturing.

Akyra Sukhumvit Bangkok to Open in 2018

Thailand-based Akaryn Hotel Group has confirmed its new property, under the ‘Akyra’ brand, to be launched in Bangkok. Situated on Sukhumvit Soi 20, the upscale boutique Akyra Sukhumvit Bangkok will offer 50 guestrooms, ranging from 30 to 60 square meters, with some rooms featuring floor-to-ceiling glass doors that open onto a balcony. The hotel will also feature a rooftop space with a pool bar, cabanas and a multi-purpose function room for gatherings and private dinners, which can cater up to 100 people. The hotel is due to open in the first quarter of 2018. The launch of Akyra Sukhumvit Bangkok follows the 2016 opening of Akyra Thonglor Bangkok, a 148-key property, located in the Thonglor area.

Indonesia Puts Forward Tourism Investment Opportunities

During the Regional Investment Forum held in Padang, West Sumatra, 17 investment projects, with an estimated worth of US$2.9 billion, were put forth to delegates and potential investors. According to Thomas Lembong, Head of Indonesia Investment Coordinating Board (BKPM), there are five projects with an estimated value of US$2.3 billion around Lake Toba, Sumatra; ten projects with an estimated value of US$562 million in the Borobudur area of Central Java; and two projects with an estimated value of US$60 million in Tanjung Kelayang, Belitung. The bulk of the investments will go towards the construction of hotels, golf courses and basic infrastructure for tourism. Investors would only be required to contribute financially as all supporting documentations, including licenses, have already been prepared for. Tourism investment in Indonesia in the first half of 2017 was recorded at US$929 million, representing 3.8 per cent of total national investment. 

Absolute Share Price Performance, as on 27 October 2017