The Annual HVS Asia-Pacific Hotel Operator Guide 2018 – Excerpt

By Pawinee Chaisiriroj and Daniel J Voellm
HVS Asia Pacific proudly presents to you the Fifth Edition of the annual Asia Pacific Hotel Operator Guide. Talking to stakeholders in the industry, this publication has become increasingly sought after by the market to evaluate potential candidates to operate a hotel property anywhere in Asia-Pacific. Distribution power, market experience, brand portfolio and geographic presence are all relevant factors in narrowing down the best match. In this fifth edition, HVS has captured over one million existing and more than half a million pipeline rooms spread over 8,395 properties.

Download the Annual HVS Asia-Pacific Hotel Operator Guide 2018 - Excerpt here.

Ascendas Hospitality Trust Acquires Three Osaka Hotels

Singapore-based Ascendas Hospitality Trust (“A-HTRUST”), via Ascendas Hospitality Real Estate Investment Trust (“A-HReit”), has entered into an agreement with Japan-based ES-CON Japan (“ES-CON”) to purchase three hotels in Osaka for JPY10.29 billion (S$126.1 million). Fully funded by debt, the acquisition of the 168-key Hotel WBF Kitasemba West and the 168-key Hotel WBF Kitasemba East is expected to be completed by September 2018, while the acquisition of the 182-key Hotel WBF Honmachi is expected to be completed by January 2019. The aggregate purchase consideration is at a 2.9% discount to the latest valuation of the hotels of JPY10.6 billion. Newly built between March and April 2018, the three freehold hotels will be managed by an entity of Japan-based hospitality group White Bear Family, Co., Ltd. (“WBF”) under a master lease agreement. Located within the Honmachi district, the hotels are in proximity to the central business district, leisure destinations and the entertainment precinct. A-HTRUST currently owns two hotels in Japan, which include the 698-key Hotel Sunroute Osaka Namba and the 912-key Hotel Sunroute Ariake in Tokyo.

Rosewood Debuts in Yangon, Myanmar

Hong Kong-based Rosewood Hotels & Resorts (“Rosewood”) has been appointed by Prime Residence, a partnership between Thailand-based Kanok Furniture and Decoration and Myanmar-based Jewellery Luck Group of Companies, to operate Rosewood Yangon in the heart of the city’s historic district. Slated to open in winter 2018, the hotel is strategically situated on The Strand, within walking distance to the Yangon’s most notable attractions. Rosewood Yangon will feature 209 guestrooms, suites, one and two-bedroom apartment units, with facilities including five distinct dining venues, several event venues, a spa, a gym, a yoga/Pilates studio and a rooftop pool. It will also offer a classic men’s grooming salon, a beauty bar and an artisanal leather workshop. Rosewood Yangon will join a portfolio of five existing Rosewood hotels in Beijing, Luang Prabang, Phnom Penh, Phuket and Sanya. Upcoming Rosewood hotels set to open in winter 2018 in Asia include Rosewood Bangkok, Rosewood Guangzhou and Rosewood Hong Kong.

Andaz by Hyatt Debuts in Seoul, South Korea

US-based Hyatt Hotels Corporation (“Hyatt”) has entered into an agreement with KT Estate (“KT”) and Hotel Hyundai Development Company (“Hotel HDC”) to debut Hyatt’s luxury lifestyle brand, Andaz, with the opening of Andaz Gangnam Seoul in 2019. Located in Apgujeong, Seoul’s high-end shopping district, the property will feature 241 guestrooms, a lobby lounge and an all-day dining restaurant called “The Tavern”. Other facilities include 600 square metres of meeting space, a swimming pool, a fitness centre with three spa treatment rooms. The opening of the Andaz Gangnam Seoul will represent the fifth Andaz-branded hotel in the Asia Pacific region, joining a portfolio of four existing Andaz Hotels in Shanghai, Tokyo, Delhi and Singapore.

IHG Launches New Upscale Brand Voco

UK-based InterContinental Hotels Group (“IHG”) has launched voco™ (“voco”), the new upscale hotel brand. The new brand will mainly focus on conversion opportunities and work with high-quality individual and locally-branded hotels. There are plans to expand the brand in IHG’s Europe, Middle East, Asia & Africa region followed by the Americas and Greater China, and IHG expects to open more than 200 voco hotels over the next 10 years. In the coming months, IHG will convert a number of hotels under its operation in UK to the new brand. Outside of Europe, the first signing for the voco brand will be the Watermark Hotel & Spa Gold Coast in Australia which is set to open in late 2018. The property will be acquired shortly by IHG’s long-standing partner, SB&G, which currently owns five other IHG hotels in Australia. Situated at the heart of Surfers Paradise, the hotel will provide 388 rooms and also feature two swimming pools and 800sqm of meeting space.

Absolute Share Price Performance, as on 22 June 2018