Key Takeaways from the 2019 South East Asia Hotel Investor’s Summit (SEAHIS)

HVS proudly sponsored the third edition of the South East Asia Hotel Investors’ Summit that was held May 16-17 at the Westin Grande Sukhumvit Bangkok. This year’s event saw over 200 delegates interacting with hospitality industry leaders on a number of key issues, such as the role of the sharing economy, franchising, demand and supply outlook for 2019, and new distribution channels disrupting the industry. Click here to read more about it.

Jetstar to Commence Flights Connecting Seoul to Gold Coast

Australia-based low-cost airline, Jetstar Airways (“Jetstar”), in partnership with Korea-based low-cost airline, Jeju Air, will commence a new service connecting Seoul to Gold Coast starting from 8 December 2019. The three-times weekly flight will be operated by Boeing 787-8 Dreamliner aircraft and will deliver up to 50,000 additional travelers into the Gold Coast each year. According to Assistant Tourism Industry Development Minister Gaven Meaghan Scanlon, the new flights were secured through the Palaszczuk Government’s Attracting Aviation Investment Fund and could potentially generate an extra 660 tourism jobs annually. Tourism Industry Development Minister Kate Jones commented that South Korea is a key market for Queensland, being their sixth largest market for international visitors and expenditure, with 59,000 South Koreans spending more than AUD238 million in Queensland in 2018.

Widus Secures Loan for Fourth Hotel Tower Expansion

Philippines-based Widus Philippines Inc. (“Widus”), owner and operator of the Widus Hotel and Casino at Clark Freeport Zone in the Philippines, has secured a PHP7 billion (USD130 million) syndicated loan to finance the construction of their fourth tower. The fourth hotel tower will be constructed on an approximately 22,000-square-metre land plot next to existing Clark Marriott hotel, part of the casino resort. Slated for completion in the final quarter of 2020, the new expansion will provide 380 rooms in a 19-storey building as well as multiple restaurants and shops. It will also provide an additional casino with 200 gaming tables, 1,000 slot machines, and electronic table games. The existing 260-key Clark Marriott hotel, which opened in September 2018, does not have a casino but is connected to the existing gaming venue at the resort. Widus has also announced interest in investing approximately USD500 million on an additional expansion for convention facilities.

Dusit Thani Plans THB2.6 billion Expansion

Thailand-based hospitality company, Dusit International (“Dusit”), has unveiled expansion plans for its hotel and residential business worth THB2.6 billion for the next two years. Approximated THB300 million will be used for renovation of Dusit Thani Hua Hin, beginning with half of its 190 rooms at the end of June, while another THB 300 million will be used to renovate 457-key Dusit Thani Pattaya. Other pipeline investments include a new residential development in Hua Hin (THB 1 billion), a potential new residential development in Pattaya, as well as another five to seven hotels that will open by the end of the year. Dusit currently has a portfolio of four brands: Dusit Thani, dusitD2, Dusit Princess and Dusit Devarana, operating in 25 properties worldwide.

Frasers Hospitality opens Capri by Fraser China Square

Singapore-based hospitality operator, Frasers Hospitality (“Frasers”), has opened its newest hotel residence, Capri by Fraser, China Square. Located in the central business district, the property is part of China Square Central, a centre of food and beverage, wellness and service offerings and is within walking distance to multiple office towers. Characterized as a brand driven by design, technology and social living, the 304-key property also features a 24/7 social hub fitted with designer furniture, wireless charging pads, games, and refreshments, a 24/7 gym equipped with interactive Prama flooring, and a self-service launderette. The new hotel residence will also be a testing ground for Fraser’s upcoming app for check ins/outs and a chatbot concierge. Capri by Fraser currently operates in 16 properties with more than 3,500 rooms in 14 cities around the world.

Absolute Share Price Performance, as on 31 May 2019