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HVS Monday Musings: HVS Monday Musings: Northeast India: The Unexplored Paradise

By Mandeep S Lamba and Dipti Mohan

Heritage tourism has grown rapidly in India in recent years, but it has yet to realize its full economic potential. Read on to know more.


To view and download the full article, please click here

Viva Land has Acquired SO/ Singapore Hotel from Royal Group for SGD240 million

Vietnam-based Viva Land (“VL”) has agreed upon the acquisition of SO/ Singapore Hotel (“SSH”) from Singapore-based Royal Group (“RG”) for SGD240 million. The 134-key heritage property is situated by the cross junction of Robinson Road and Boon Tat Street. The transaction of SGD1.8 million per key has set a new record on the price-per-key of hotels transacted in Singapore. The sale of the SSH along with six retail units that are located on the ground floor has over 49 years remaining on its leasehold. In 2020, VL has acquired Robinson Point, a commercial real estate development located beside SSH. With both acquisitions, VL will be able to combine both sites to redevelop as a mixed-use project.

Pro-invest Adds Canberra Hotel to its Australian Portfolio

Australia-based hotel investment firm Pro-invest Group (“PG”) has acquired Campbell5 Hotel (“C5H”) in Canberra, Australia. The transaction will bolster its AUD2 billion Australian hotels portfolio, marking the first asset purchase under its third discretionary investment fund (Fund III). Fund III was created in 2021 for local and international investors who seek opportunities in the Australian hotel market after the pandemic. The C5H will be operating as the Sebel Canberra Campbell (“SCC”) and will be PG’s second Sebel-branded hotel in Canberra. The SCC is the last stage of the AUD500 million Campbell5 development project comprising serviced apartments and residential, commercial, and retail spaces. The property will be able to leverage the proximity to the Parliament House, the Defense Department, Canberra’s CBD, and Canberra Airport. Established in 2010, PG has launched a portfolio of 17 hotels with more than 3,600 keys throughout Australia and New Zealand.

Fukuoka’s Mixed-use Development Fukuoka Daimyo Garden City Announced

As part of Fukuoka’s ‘Tenjin Big Bang’ Redevelopment Program, officials have recently announced the redevelopment plan of the ‘Fukuoka Daimyo Garden City’. The building will be a mixed-use development opening at the end of 2022. It can be easily accessed from the Tenjin Station or the Nishitestsu Fukuoka Station. The development will include offices, an event hall, a community building, and the first Ritz-Carlton hotel in Kyushu. The 162-key luxury hotel will span over eight floors with 20 suites, six food, and beverage facilities and a chapel. The whole building will be able to enjoy the view of the Tenjin business area, Hakata Bay and Ohori Garden.

Swiss-Belhotel International to Expand Its Asian Hospitality through Odyssey Joint Venture

Hong Kong-based Swiss-Belhotel International Limited (“SBI”) is set to expand its hospitality portfolio in Japan and other Asian countries through a joint venture with Hong Kong-based Odyssey Group Limited (“OGL”). SBI currently has 125 hotels and projects in 19 countries, including a diverse portfolio of 16 brands. SBI has planned to double the number of hotels under management to 300 by 2025, and the partnership with OGL is part of this aggressive expansion plan. OGL’s expertise in the Asian hospitality real estate market and SBI's desire to provide high-quality hospitality experiences for their guests will complement the two companies for further expansion.

Absolute Share Price Performance, as of 06 May 2022

Closing Share Price

06 May 2022

29 April 2022

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group

2.10

2.16

-2.8%

Event Hospitality & Entertainment Ltd

14.32

14.63

-2.1%

General Property Group

4.94

5.09

-2.9%

Mirvac Group

2.26

2.42

-6.6%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd

43.50

46.50

-6.5%

Dusit Thani Public Co Ltd

9.35

9.50

-1.6%

The Erawan Group Public Co Ltd

3.60

3.74

-3.7%

Grande Asset Hotels & Property Public Co Ltd

0.19

0.22

-13.6%

Laguna Resorts & Hotel Public Co Ltd

29.00

28.75

0.9%

Minor International Public Co Ltd

33.75

35.00

-3.6%

S Hotels and Resorts Public Company Limited

4.06

4.42

-8.1%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

8.42

8.59

-2.0%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.

3.24

3.42

-5.3%

Guangzhou Lingnan Group Holdings Company Limited

8.41

8.97

-6.2%

NASDAQ (US$)

Huazhu Group Limited

28.43

30.24

-6.0%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd

12.56

12.60

-0.3%

Regal Hotels International Holdings Ltd

3.07

3.22

-4.7%

Sino Hotels Holdings Ltd

2.00

2.00

0.0%

The Hong Kong & Shanghai Hotels Ltd

7.93

7.81

1.5%

Shangri-La Asia Limited

6.00

5.97

0.5%

National Stock Exchange (INR)

Chalet Hotels Ltd

285.60

298.75

-4.4%

IHCL (Taj Hotels, Resorts & Palaces)

243.50

256.50

-5.1%

EIH (Oberoi Hotels & Resorts)

148.00

160.40

-7.7%

Hotel Leela Ventures

9.80

10.10

-3.0%

Lemon Tree Hotels Ltd

63.45

66.40

-4.4%

Korea Exchange (KRW)

The Shilla

77,200

81,200

-4.9%

Singapore Stock Exchange (S$)

Amara Holdings Ltd

0.36

0.37

-2.7%

ARA Htrust (US$)

0.51

0.51

-1.0%

Ascott Residence Trust

1.17

1.16

0.9%

Banyan Tree Holdings Limited

0.29

0.29

-1.7%

CDL Hospitality Trusts

1.34

1.34

0.0%

Eagle Htrust

0.21

0.14

na

Far East Hospitality Trust

0.66

0.67

-1.5%

Frasers Hospitality Trust

0.65

0.65

0.8%

Hotel Grand Central Ltd

1.00

1.01

-1.0%

Hotel Properties Ltd

3.65

3.57

2.2%

Mandarin Oriental International Ltd (US$)

2.06

2.05

0.5%

Stamford Land Corporation Ltd

0.40

0.40

-1.3%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation

170.00

173.50

-2.0%

The Ambassador Hotel, Ltd

31.35

31.55

-0.6%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.

68,100

66,100

3.0%

Imperial Hotel, Ltd

1,806

1,805

0.1%

Red Planet Japan Inc

52

62

-16.1%

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 hychee@hvs.com


Mandeep S. Lamba, President, South Asia – HVS Anarock mlamba@hvs.com


Mei Leng Ho, Senior Vice President – HVS Singapore mlho@hvs.com


Florian Kittler, Managing Director – HVS Executive Search Europe & Asia Pacific fkittler@hvs.com

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