Hong Kong-based Gaw Capital Acquires Spanish Boutique Hotel Brand, Hospes Hotel Group

Myanmar to Grant Visa-Free Entry for Japan and South Korea

In order to boost tourism, Myanmar will be shifting its tourism focus towards Japan, South Korea and China. Although the date of implementation is yet to be announced, citizens of Japan and South Korea will be granted a visa-free status. Meanwhile, starting from 1 October 2018, Chinese Nationals, from China, Hong Kong and Macau can benefit from visas-on-arrival (VOA) facilitation at Yangon International Airport, Mandalay International Airport and Nay Pyi Taw International Airport. The application fee for VOA will be at USD50 and will cover a length of stay spanning 30 days for the purpose of tourism only. In addition, Chinese tourists are obliged to present USD1,000 and a confirmed return ticket in order to be eligible for VOA. According to Myanmar Tourism Market’s (MTM) statistics, in 2017, arrivals from Japan, Korea and China account for 8.4%, 5.5% and 12.5% of total arrivals accordingly, making up three of the top five source markets.

Ascott Opens Two Citadines Properties in Vietnam

Singapore-based Capitaland Limited’s wholly owned serviced residence business unit, The Ascott Limited (“Ascott”), has opened two new Citadines Properties in Vietnam, the 548-unit Citadines Blue Cove Danang and the 229-unit Citadines Regency Saigon. As Vietnam’s largest serviced residence and Ascott’s debut in Danang, Citadines Blue Cove Danang is located by the Han River in the scenic Son Tra peninsular, within a 15 minutes’ drive from Danang International Airport. Furnished with a mix of studio, one-bedroom, two-bedroom and three-bedroom apartments overlooking the Danang Bay, facilities at the property include a restaurant, a rooftop infinity pool, fitness centre, spa, more than 462 square metres of meeting space and children’s playroom. Citadines Regency Saigon is Ascott’s fifth property in Ho Chi Minh City and is located in District 3, a prime business and residential district of the city. Offering classic rooms, studios and one-bedroom apartments, other facilities include a restaurant, a café, an outdoor swimming pool, fitness centre, children’s wading pool, sauna room, and launderette. Ascott currently has a total of 21 properties offering approximately 4,700 units across seven cities in Vietnam. In the next three years, Ascott is scheduled to add more than 2,000 units across nine properties in Ho Chi Minh City, Hanoi, Danang, Halong City and Binh Duong province.

CDL Hospitality Trust Announces Renovation Plan for Orchard Hotel Singapore

Singapore-based CDL Hospitality Trusts (“CDLHT”) has announced asset enhancement plans for the 656-key Orchard Hotel Singapore during the release of the trust’s second quarter results. As part of ongoing asset enhancement plans for CDLHT’s properties, Orchard Hotel Singapore will undergo a series of changes, including the makeover of its lobby and un-refurbished food and beverage outlets and renovation of approximately 260 deluxe guest rooms in the Orchard wing, ballroom and meeting spaces. Starting from 23 July 2018, work has commenced for both Orchard Café and ground floor lobby and is expected to complete by October 2018. Renovation for the guest rooms, ballroom and meeting spaces will be carried out in phases from 4Q 2018 to 1Q 2019. Once completed, Orchard Hotel Singapore will further establish its standing as one of only four hotels in Singapore which boast a ballroom with capacity of 1,000 or more guests.

Renaissance Debuts in Northwest China

US-based Marriott International (“Marriott”) recently announced the opening of its first Renaissance hotel in Northwest China. Ideally located in Qujiang New District of Xi’an, Renaissance Xi’an Hotel stands next to Qujiang International Convention and Exhibition Center and is only 40 minutes’ drive from Xi’an Xianyang International Airport and 30 minutes’ drive from Xi’an North Railway Station. It also enjoys easy access to a number of tourist attractions, such as the All Day Mall, Dayan Pagoda, Tang Paradise, TV Tower and Xi’an Museum of Natural History. The hotel features 403 guestrooms and suites as well as a Chinese restaurant, an all-day dining restaurant and a bar. In addition, Renaissance Xi’an Hotel offers 2,400 square metres of flexible modern meeting space, including a 1,380-square-metre pillar-less grand ballroom which can be divided into three independent banquet rooms.

Absolute Share Price Performance, as on 3 August 2018