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HVS Monday Musings: India’s Budding Amusement & Theme Parks Sector

By Mandeep S LambaDipti Mohan and Dhwani Gupta

India's amusement & theme parks industry is still nascent, accounting for only a minuscule global market share, however, demand in this segment is expected to increase in the future. Read on to know more.

 

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Red Plant Hotel in Sapporo, Japan Transacted at JPY1.73 Billion

GK Fortune One has just sold the Red Planet Sapporo Susukino South Hotel to Singapore-based consortium led by Heeton Holdings Limited through their local investment vehicle GK Nakashima. The consortium also includes Singapore-based Hong Heng Company Private Limited and Singapore-based NineCo Investments Pte Ltd. The 123-key property has been acquired for approximately JPY1.73 billion with vacant possession. According to new plans, the hotel will be rebranded to a domestic Japanese hotel brand. Built in 2018, the property consists of one restaurant which serves breakfast, launderette and vending machine. The property is located in Susukino, the entertainment and nightlife district of Sapporo, it is also located approximately 50 kilometres from New Chitose International Airport.  

Freedom Hostel Cairns has Sold and Rebranded

Shield Abbott Pty Ltd, part of the Australia-based Jreissati Group, Inc. which owns Bensons Property Group and Levantine Hill Winery, has sold Freedom Hostel Cairns at an undisclosed sum. Situated in the centre of Cairns, the 1,945 square metres site housed a three-level, mixed-use accommodation and retail complex. With a total lettable area of 3,555 square metres, the development includes a recently refurbished 200-bed Freedom Hostel as well as nine retail stores. Following the sale, the property has been rebranded as The Village Cairns, and draws tourists visiting the nearby Great Barrier Reef and Daintree Rainforest

Japan’s First Harry Potter Theme Park to Open in June

Japan-based Warner Bros. Studio Japan, a subsidiary of the US-based movie studio giant, is set to open the world’s largest indoor Harry Potter theme park in Tokyo on 16 June. The Warner Bros Studio Tour Tokyo – The Making of Harry Potter will be the second Harry Potter attraction by Warner Bros, with the first being in London. Located on the former site of Toshimaen park, the new theme park features a variety of Harry Potter-related exhibits, costumes, props, special effects, and models. Apart from attractions such as the Hogwarts Express, a version of the magical train in the story, the Tokyo counterpart will exclusively feature a Fantastic Beasts-related set as well. 

INNSiDE by Melia Bangkok to Debut in the Summer of 2023 

The first ever INNSiDE by Melia Bangkok (“IMB”) is set to debut in July 2023 and will be located in the heart of the action in Bangkok’s lively On Nut Neighborhood. The property is approximately a 30-minute drive from Suvarnabhumi International Airport and in close proximity to Bangkok’s largest convention centre BITEC. IMB drew its stunning design from some of Bangkok’s most famous landmarks such as the Chao Phraya River and historic temples will boast mesmerizing views of Bangkok’s skyline. The 208-key property will consist of eight different room categories, two-storey infinity pool, a rooftop pool bar, meeting and multifunctional areas, 24-hour fitness centre, Speciality-Spanish tapas bar along with two other Food & Beverage outlets and co-working spaces. INNSiDE by Melia is a brand that challenges convention, designed for the curious minded whom cultivates a fluid lifestyle between work and leisure

Absolute Share Price Performance, as of 12 May 2023

Closing Share Price

12 May 2023

05 May 2023

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group

1.65

1.71

-3.5%

Event Hospitality & Entertainment Ltd

11.79

11.99

-1.7%

General Property Group

4.41

4.43

-0.5%

Mirvac Group

2.35

2.36

-0.4%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd

55.50

55.00

0.9%

Dusit Thani Public Co Ltd

11.00

11.00

0.0%

The Erawan Group Public Co Ltd

4.68

4.88

-4.1%

Grande Asset Hotels & Property Public Co Ltd

0.23

0.23

0.0%

Laguna Resorts & Hotel Public Co Ltd

39.75

47.50

-16.3%

Minor International Public Co Ltd

33.75

33.25

1.5%

S Hotels and Resorts Public Company Limited

3.50

3.48

0.6%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

8.76

9.08

-3.5%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.

4.43

4.53

-2.2%

Guangzhou Lingnan Group Holdings Company Limited

10.12

10.72

-5.6%

NASDAQ (US$)

Huazhu Group Limited

41.75

45.06

-7.3%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd

11.80

11.78

0.2%

Regal Hotels International Holdings Ltd

3.08

3.10

-0.6%

Sino Hotels Holdings Ltd

2.00

2.09

-4.3%

The Hong Kong & Shanghai Hotels Ltd

7.56

7.72

-2.1%

Shangri-La Asia Limited

6.78

7.05

-3.8%

National Stock Exchange (INR)

Chalet Hotels Ltd

418.30

377.95

10.7%

IHCL (Taj Hotels, Resorts & Palaces)

358.50

358.70

-0.1%

EIH (Oberoi Hotels & Resorts)

189.00

185.45

1.9%

Hotel Leela Ventures

11.30

11.35

-0.4%

Lemon Tree Hotels Ltd

91.10

90.65

0.5%

Korea Exchange (KRW)

The Shilla

80,300

84,100

-4.5%

Singapore Stock Exchange (S$)

Amara Holdings Ltd

0.34

0.34

0.0%

ARA Htrust (US$)

0.35

0.35

0.0%

Ascott Residence Trust

1.08

1.09

-0.9%

Banyan Tree Holdings Limited

0.35

0.37

-6.8%

CDL Hospitality Trusts

1.20

1.23

-2.4%

Eagle Htrust

0.21

0.14

na

Far East Hospitality Trust

0.60

0.63

-4.0%

Frasers Hospitality Trust

0.47

0.49

-4.1%

Hotel Grand Central Ltd

0.90

0.90

0.0%

Hotel Properties Ltd

3.55

3.56

-0.3%

Mandarin Oriental International Ltd (US$)

1.81

1.77

2.3%

Stamford Land Corporation Ltd

0.40

0.40

0.0%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation

282.50

292.50

-3.4%

The Ambassador Hotel, Ltd

43.05

41.45

3.9%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.

78,000

78,500

-0.6%

Imperial Hotel, Ltd

1,978

1,994

-0.8%

Red Planet Japan Inc

26

30

-13.3%

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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