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HVS Monday Musings: International Flight Resumption – A Gradual Return to Normalcy for the Indian Travel Sector
By Mandeep S Lamba and Dipti Mohan
The resumption of regular international flights in India is the first step towards a gradual return to normalcy for the travel and hospitality sectors. Read on to know more.
To view and download the full article, please click here.
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Weave Living and its Partner Jointly Acquire Rosedale Hotel, Kowloon for HKD1.37 Billion
Hong Kong-based Weave Living (“WL”) and US-based PGIM Real Estate (“PGIM”) are acquiring Rosedale Hotel in Kowloon, Hong Kong, for HKD1.37 billion from Hong Kong-based ITC Properties Group Limited and Hong Kong-based Shaw Trustee (Private) Limited . The USD200 million joint venture between WL and PGIM will see that the 435-key Rosedale Hotel features 15,000 square feet of shared spaces, 4,000 square feet of rooftop terraces and a restaurant after renovation. The built up of the property will be 111,000 square feet. WL will act as the asset manager, development manager and operations manager for the joint venture as well as retaining 10 percent stake in the joint venture. The renovation will be completed mid-2023, marking WL’s fourth hotel conversion and expanding their room count by 40%.
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The Assembly Place to Acquire Co-living Peer Operator Commontown Singapore
Singapore-based co-living start-up company The Assembly Place ("TAP") is set to an agreement with Singapore-based Liberto Pte Ltd, the operator of Commontown Singapore’s co-living spaces, to acquire all company assets through a share swap agreement at an undisclosed sum. The deal includes acquiring all Commontown Singapore’s assets of 120 rooms across ten locations as well as head leases and subleases. The brand's co-living space is currently fully leased out throughout the country. TAP plans to launch a 181-key co-living hostel and a four-storey residential block in April. The serviced apartment assets are currently in the planning and construction phase across three locations. TAP was founded in 2019, and since, the company has amassed more than SGD250 million in asset under management.
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Vietnamese Co-living Start-up Secures USD1.7 Million Venture Capital Funding
Vietnam-based Mvillage Joint Stock Company ("MV"), an accommodation start-up in co-living spaces, has received funding of USD1.7 million led by Vietnam-based venture fund Simple Tech Investment. The fund will expand the number of rooms MV has in Ho Chi Minh City (“HCMC”) from the current 300 to 1,000 this year. MV was founded in October 2020 and operates five locations in HCMC, with their occupancy rates exceeding 90 percent. The founder, Nguyen Hai Ninh, is also the founder and ex chief executive officer of The Coffee House, a HCMC-based coffee chain with more than 140 stores across Vietnam. MV has also received funding from Singapore-based Vulpes Venture, Japan-based Genesia Ventures, Inc., and some other angel investors.
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Joint Hospitality Group Vista launched in a partnership between Pro-invest and Next Story
Australia-based Pro-invest Group (“PI”) and Singapore-based Next Story Group (“NSG”) have come together to establish a new management company, Vista Hospitality Group Australasia (“Vista”). Vista will offer a one stop shop combining the expertise and capabilities of each company and will include everything from development planning, asset management to tailored hotel operations. Vista will have a dynamic range of brands from mid-market to luxury segments. The new group is currently launching with 1,500 rooms and plans to expand this to 5,000 rooms across Australia and New Zealand over the next five years.
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Absolute Share Price Performance, as of 08 April 2022 | |
| Closing Share Price | 08 April 2022 | 01 April 2022 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 2.22 | 2.10 | 5.7% | | Event Hospitality & Entertainment Ltd | 14.04 | 14.20 | -1.1% | | General Property Group | 5.11 | 5.23 | -2.3% | | Mirvac Group | 2.43 | 2.49 | -2.4% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 40.00 | 40.25 | -0.6% | | Dusit Thani Public Co Ltd | 9.65 | 9.50 | 1.6% | | The Erawan Group Public Co Ltd | 3.44 | 3.32 | 3.6% | | Grande Asset Hotels & Property Public Co Ltd | 0.20 | 0.22 | -9.1% | | Laguna Resorts & Hotels Public Co Ltd | 29.50 | 29.00 | 1.7% | | Minor International Public Co Ltd | 34.50 | 34.00 | 1.5% | | S Hotels and Resorts Public Company Limited | 3.74 | 3.62 | 3.3% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 8.22 | 7.68 | 7.0% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 4.05 | 4.19 | -3.3% | | Guangzhou Lingnan Group Holdings Company Limited | 12.18 | 12.54 | -2.9% | | |
| Huazhu Group Limited__ | 32.24 | 35.06 | -8.0% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 12.84 | 12.60 | 1.9% | | Regal Hotels International Holdings Ltd | 3.30 | 3.20 | 3.1% | | Sino Hotels Holdings Ltd | 2.12 | 2.12 | 0.0% | | The Hong Kong & Shanghai Hotels Ltd | 8.26 | 8.38 | -1.4% | | Shangri-La Asia Limited | 6.14 | 6.15 | -0.2% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd____ | 310.00 | 306.90 | 1.0% | | IHCL (Taj Hotels, Resorts & Palaces) | 253.85 | 240.60 | 5.5% | | EIH (Oberoi Hotels & Resorts) | 167.20 | 159.45 | 4.9% | | Hotel Leela Ventures_ | 11.70 | 9.15 | 27.9% | | Lemon Tree Hotels Ltd | 66.70 | 63.95 | 4.3% | | |
| The Shilla__ | 83,100 | 83,300 | -0.2% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd__ | 0.38 | 0.37 | 4.1% | | ARA Htrust (US$)__ | 0.50 | 0.50 | 1.0% | | Ascott Residence Trust__ | 1.11 | 1.12 | -0.9% | | Banyan Tree Holdings Limited | 0.30 | 0.30 | 0.0% | | CDL Hospitality Trusts__ | 1.29 | 1.30 | -0.8% | | Eagle Htrust___ | 0.14 | 0.14 | na | | Far East Hospitality Trust | 0.64 | 0.64 | 0.8% | | Frasers Hospitality Trust | 0.60 | 0.54 | 12.1% | | Hotel Grand Central Ltd | 1.05 | 1.04 | 1.0% | | Hotel Properties Ltd_ | 3.57 | 3.50 | 2.0% | | Mandarin Oriental International Ltd (US$) | 2.06 | 2.00 | 3.0% | | Stamford Land Corporation Ltd | 0.40 | 0.40 | -1.3% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 173.50 | 174.50 | -0.6% | | The Ambassador Hotel, Ltd | 32.40 | 33.70 | -3.9% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 64,300 | 62,600 | 2.7% | | Imperial Hotel, Ltd___ | 1,794 | 1,795 | -0.1% | | Red Planet Japan Inc__ | 57 | 60 | -5.0% | | |
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