HVS Asia Pacific Hospitality Newsletter - Week Ending 16 April 2021 (April 19, 2021)

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.

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

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.

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

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

Closing Share Price as at 16 April 2021 9 April 2021 % Change
Australia Stock Exchange (ASX)
Elanor Investors Group 1.55 1.45 7.3%
Event Hospitality & Entertainment Ltd 12.04 12.17 -1.1%
General Property Group 4.81 4.74 1.5%
Mirvac Group 2.56 2.47 3.6%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 33.00 33.50 -1.5%
Dusit Thani Public Co Ltd 8.25 8.25 0.0%
The Erawan Group Public Co Ltd 4.40 4.44 -0.9%
Grande Asset Hotels & Property Public Co Ltd 0.54 0.55 -1.8%
Laguna Resorts & Hotel Public Co Ltd 32.75 34.00 -3.7%
Minor International Public Co Ltd 30.25 30.75 -1.6%
S Hotels and Resorts Public Company Limited 3.00 3.00 0.0%
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd 8.21 7.97 3.0%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co.,Ltd. 3.51 3.39 3.5%
Guangzhou Dong Fang Hotel Co Ltd 8.32 7.99 4.1%
Huazhu Group Limited 57.31 54.99 4.2%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 15.34 14.80 3.6%
Regal Hotels International Holdings Ltd 3.97 3.80 4.5%
Sino Hotels Holdings Ltd 2.44 2.45 -0.4%
The Hong Kong & Shanghai Hotels Ltd 8.05 8.01 0.5%
Shangri-La Asia Limited 7.47 7.82 -4.5%
National Stock Exchange (INR)
Chalet Hotels Ltd 134.40 148.00 -9.2%
IHCL (Taj Hotels, Resorts & Palaces) 99.0 110.7 -10.6%
EIH (Oberoi Hotels & Resorts) 87.0 92.0 -5.4%
Hotel Leela Ventures 5.6 6.0 -6.7%
Lemon Tree Hotels Ltd 29.9 35.0 -14.6%
Korea Exchange (KRW)
The Shilla 84000 85200 -1.4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.40 0.40 0.0%
ARA Htrust (US$) 0.51 0.53 -2.9%
Ascott Residence Trust 1.08 1.08 0.0%
Banyan Tree Holdings Limited 0.33 0.34 -2.9%
CDL Hospitality Trusts 1.28 1.28 0.0%
Eagle Htrust 0.14 0.14 0.0%
Far East Hospitality Trust 0.63 0.64 -0.8%
Frasers Hospitality Trust 0.59 0.56 6.3%
Hotel Grand Central Ltd 1.12 1.11 0.9%
Hotel Properties Ltd 3.43 3.50 -2.0%
Mandarin Oriental International Ltd (US$) 1.85 1.83 1.1%
Stamford Land Corporation Ltd 0.43 0.42 2.4%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 151.5 153.5 -1.3%
The Ambassador Hotel, Ltd 29.3 29.3 0.0%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 62000 62200 -0.3%
Imperial Hotel, Ltd 1883 1867 0.9%
Red Planet Japan Inc 57 60 -5.0%

For the latest in the hospitality industry, please visit: http://www.hvs.com/. You are also welcome to contact the following personnel.
Hok Yean Chee, Regional President – HVS Asia Pacific [email protected]
Mandeep S. Lamba, President, South Asia – HVS Anarock [email protected]
Mei Leng Ho, Senior Vice President – HVS Singapore [email protected]
Steven Zhu, Vice President – HVS Shanghai [email protected]
Florian Kittler, Managing Director – HVS Executive Search Europe & Asia Pacific [email protected]

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