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HVS Monday Musings: Ancillary Revenue Opportunities – Only Our Imagination Limits Us!
By Mandeep S Lamba and Dipti Mohan
The hotel ancillary revenue revolution is expected to gain momentum in the Indian hotel industry, with more radical revenue-generating avenues gradually finding favor. Read on to know more.
To view and download the full article, please click here.
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High-Powered Consortium Offload Melbourne hotel amid Legal Tussles
The consortium behind the Hotel Continental development in Sorrento on the Mornington Peninsula has sold a nearly new hotel in West Melbourne amid a legal tussle with its former operator, Australia-based TFE Hotels ("TFE"). The consortium comprises developer Trenerry Property, Victor Smorgon Group, and the Kanat Family. The hotel is part of its completed AUD340 million West End development with 99 rooms, having hoped to sell for about AUD35 million and up to AUD45 million. The buyer was a Tasmanian-based investor who plans to continue to operate it as a hotel after purchase. Trenerry can confirm that the property has sold and has commenced Supreme Court proceedings against TFE for wrongful termination of the lease.
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Les' Copaque Production Sdn Bhd to Build Upin and Ipin Theme Park by 2024 to 2025
Malaysia-based Les’ Copaque Production Sdn Bhd (“LCPSB”) has signed a memorandum of understand with Malaysia-based Cyberview Sdn Bhd to explore the potential of building a Upin and Ipin Theme Park, which will be named as ‘Kampung Durian Runtuh’. The concept was chosen because it represent local culture and has gain massive popularity within south-east Asia. The new theme park will be located in the south of Johor Bahru, serving as a new attraction for neighbour countries, such as, Malaysia, Singapore, Indonesia and Brunei. Les’ Copaque’s head honcho, Burhanuddin Md Radzi, mentioned that Johor Bahru will be an ideal location as it is equipped with an international airport for foreigners. The development is expected to start in early 2023 and complete by 2024 to 2025. The estimated cost of the development is between MYR700 million to MYR1 billion.
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Central Pattana to Invest THB10 Billion in 37 Hotel Projects
Thailand-based Central Pattana Public Company Limited (“CPN”) has announced a THB10 billion hotel development project for 37 hotels in 27 provinces of Thailand. All 37 properties will be managed by the Centara Hotels and Resorts, which will eventually create 3,900 hospitality jobs. The President and Chief Executive, Wallaya Chirathivat, mentioned that this five-year investment plan for its hotel business ending in 2026 will strengthen its retail-led mixed-use developments as hotels will be a key part of future CPN projects. CPN estimated that the hotel development projects will add another 4,000 rooms to its current portfolio. CPN’s current two hotels includes 304-key Hilton Pattaya and 259-key Centara Hotel & Convention Centre Udon Thani.
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Quarantine-Free Travel for all Visitors to South Korea starting 8 June 2022
On 3 June 2022, South Korea Central Disease Control Headquarters announced that all international travelers to South Korea are no longer required to quarantine regardless of their vaccination status starting from 8 June 2022. The quarantine exemption also applies to travelers who entered the country before 8 June and are currently in quarantine. A negative COVID test result from either a PCR or Rapid Antigen Test and an additional COVID-19 PCR testing upon arrival will still be in effect to ensure whether it’s a safe traveler with a negative result. If travelers do not have a negative test result or lack accurate information, the passengers will not be able to board their flight. The travelers with a positive COVID-19 test after arrival will still be obliged to quarantine.
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Absolute Share Price Performance, as of 10 June 2022 | |
| Closing Share Price | 10 June 2022 | 03 June 2022 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.84 | 1.95 | -5.6% | | Event Hospitality & Entertainment Ltd | 13.90 | 14.84 | -6.3% | | General Property Group | 4.32 | 4.73 | -8.7% | | Mirvac Group | 2.06 | 2.19 | -5.9% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 42.75 | 41.00 | 4.3% | | Dusit Thani Public Co Ltd | 9.80 | 9.80 | 0.0% | | The Erawan Group Public Co Ltd | 3.78 | 3.76 | 0.5% | | Grande Asset Hotels & Property Public Co Ltd | 0.22 | 0.24 | -8.3% | | Laguna Resorts & Hotel Public Co Ltd | 30.25 | 34.25 | -11.7% | | Minor International Public Co Ltd | 35.25 | 34.25 | 2.9% | | S Hotels and Resorts Public Company Limited | 4.54 | 4.62 | -1.7% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 9.92 | 9.49 | 4.5% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.94 | 3.83 | 2.9% | | Guangzhou Lingnan Group Holdings Company Limited | 10.19 | 10.67 | -4.5% | | |
| Huazhu Group Limited | 31.32 | 32.08 | -2.4% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 14.42 | 13.40 | 7.6% | | Regal Hotels International Holdings Ltd | 3.19 | 3.18 | 0.3% | | Sino Hotels Holdings Ltd | 2.05 | 2.05 | 0.0% | | The Hong Kong & Shanghai Hotels Ltd | 7.71 | 7.49 | 2.9% | | Shangri-La Asia Limited | 6.22 | 6.05 | 2.8% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 297.25 | 297.90 | -0.2% | | IHCL (Taj Hotels, Resorts & Palaces) | 220.25 | 233.60 | -5.7% | | EIH (Oberoi Hotels & Resorts) | 135.20 | 140.58 | -4.0% | | Hotel Leela Ventures | 8.90 | 9.30 | -4.3% | | Lemon Tree Hotels Ltd | 65.60 | 68.30 | -4.0% | | |
| The Shilla | 77,300 | 79,000 | -2.2% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.35 | 0.35 | 0.0% | | ARA Htrust (US$) | 0.50 | 0.49 | 1.0% | | Ascott Residence Trust | 1.17 | 1.16 | 0.9% | | Banyan Tree Holdings Limited | 0.27 | 0.28 | -3.6% | | CDL Hospitality Trusts | 1.28 | 1.28 | 0.0% | | Eagle Htrust | 0.14 | 0.14 | na | | Far East Hospitality Trust | 0.68 | 0.66 | 2.3% | | Frasers Hospitality Trust | 0.66 | 0.65 | 2.3% | | Hotel Grand Central Ltd | 1.00 | 1.02 | -2.0% | | Hotel Properties Ltd | 3.56 | 3.56 | 0.0% | | Mandarin Oriental International Ltd (US$) | 2.07 | 2.05 | 1.0% | | Stamford Land Corporation Ltd | 0.39 | 0.39 | 1.3% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 181.00 | 176.50 | 2.5% | | The Ambassador Hotel, Ltd | 32.20 | 31.70 | 1.6% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 65,700 | 67,100 | -2.1% | | Imperial Hotel, Ltd | 1,853 | 1,848 | 0.3% | | Red Planet Japan Inc | 61 | 66 | -7.6% | | |
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