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Ventive Hospitality Files for INR20 Billion IPO
Backed by US-based private equity firm, Blackstone, and India-based Panchshil Realty, India-based Ventive Hospitality Limited (“Ventive Hospitality”) has filed a draft red herring prospectus in preparation for listing its portfolio of hotels across the Maldives and India in an IPO that could raise up to IDR20 billion. Ventive Hospitality’s portfolio comprises 17 hotels including eleven fully operational hotels and resorts with a total of 2,036 keys, and three hotels under construction with a total of 367 keys in the pipeline. most notable properties include the 415-key JW Marriott Pune, the 198-key Ritz Carlton Pune, the 197-key Anantara Maldives, the 151-key Conrad Maldives, and the 167-key Raaya by Atmosphere Maldives, which together account for over 80 percent of the portfolio’s pro forma hotel revenue over the last three fiscal years. The remaining six operational hotels consist of five under various Marriott brands and one DoubleTree by Hilton. As of March 31, 2024, Ventive Hospitality owned 64 percent of the luxury hotel inventory in Pune. In addition to its hospitality portfolio, Ventive Hospitality also owns three grade A office properties and a mall in Pune.
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GIC Sold Hilton Fukuoka Sea Hawk Hotel to Mizuho Leasing Company in Japan
Singapore-based sovereign wealth fund GIC Private Limited (“GIC”) has sold Hilton Fukuoka Sea Hawk Hotel to Japan-based Mizuho Leasing Company for an undisclosed sum. The 1,052-key hotel is part of a 169,157 sqm entertainment complex which also houses the Hawks Town Mall and is adjacent to the Mizuho PayPay Dome. The property is located 20 minutes by car from Fukuoka Airport and 16 minutes away from the city centre, Tenjin. The 35-storey hotel features five food and beverage outlets, a spa centre, a fitness centre, an indoor and outdoor pool, whirlpool, and Japanese stone bath. The hotel also boasts a large convention facility that can house up to 3,500 people.
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Fragrance Group Acquires Two Hotels from The University of Tasmania in Australia
Singapore-based Fragrance Group Limited has acquired the 122-key Allurity Hotel for approximately AUD26 million, and the 50-key Fountainside Hotel for AUD16 million from The University of Tasmania in Australia. This translates to approximately AUD213,000 and AUD320,000 per key, respectively. The Allurity Hotel is located at 96 Bathurst Street, approximately 2.2km away from the Hobart Convention And Entertainment Centre; and the Fountainside Hotel is located at 40 Brooker Avenue, features an on-site restaurant, and is located near the Tasmanian Museum and Art Gallery, Maritime Museum of Tasmania, and City Centre Hobart.
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Iris Capital Sold ibis Budget Dubbo in New South Wales, Australia
Australia-based private investment group, Iris Capital, has sold ibis budget Dubbo for an undisclosed sum, with the buyer remaining unnamed. The 65-keyhotel portfolio hotel is situated on a 3,963 square metres site featuring an on-site restaurant, outdoor swimming pool and a large carpark. Conveniently located at the intersection of the Newell & Mitchell Highways, the property is within walking distance of public transport and just a five-minutes’ drive from both Dubbo Airport and the town center. Upon acquisition, Iris Capital holds 22 hotels, 35 pubs, two casinos, and residential developments in Queensland and New South Wales in its pipeline.
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Suria Capital and BEDI Development to Jointly Develop Mixed-use Project in Kota Kinabalu Port Area
Malaysia-based Suria Capital Holdings Bhd (“Suria Capital”) have signed a joint development agreement to formalise the Jesselton Docklands 2 mixed-use project in the Kota Kinabalu port area. The project will span 11.54 hectares and is a key component of the broader Jesselton Waterfront City master plan. Scheduled to begin in 2026 with various parcels to be developed in phases over 15 years, it will feature residential and commercial spaces, a luxury hotel, a cruise terminal, an international school, and a wellness center. The Jesselton Docklands 2 will be developed by a joint venture between Suria Capital and BEDI Development, a 75% owned subsidiary of Malaysia-based EXSIM Development Sdn Bhd; and follows a previous JDA signed in June of this year for a 2.534 hectares site project adjacent to the Jesselton Docklands 2.
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Absolute Share Price Performance, as of 13 September 2024 | |
| Closing Share Price | 13 September 2024 | 06 September 2024 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 0.85 | 0.85 | 0.0% | | Event Hospitality & Entertainment Ltd | 10.37 | 9.98 | 3.9% | | General Property Group | 5.09 | 5.04 | 1.0% | | Mirvac Group | 2.26 | 2.13 | 6.1% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 37.50 | 37.25 | 0.7% | | Dusit Thani Public Co Ltd | 11.30 | 11.60 | -2.6% | | The Erawan Group Public Co Ltd | 3.96 | 3.96 | 0.0% | | Grande Asset Hotels & Property Public Co Ltd | 0.09 | 0.09 | 0.0% | | Laguna Resorts & Hotel Public Co Ltd | 37.50 | 38.00 | -1.3% | | Minor International Public Co Ltd | 28.00 | 28.25 | -0.9% | | S Hotels and Resorts Public Company Limited | 2.14 | 2.10 | 1.9% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 6.13 | 6.23 | -1.6% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 2.90 | 3.02 | -4.0% | | Guangzhou Lingnan Group Holdings Company Limited | 8.29 | 8.69 | -4.6% | | |
| Huazhu Group Limited | 28.74 | 29.77 | -3.5% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 9.35 | 9.38 | -0.3% | | Regal Hotels International Holdings Ltd | 2.54 | 2.56 | -0.8% | | Sino Hotels Holdings Ltd | 1.48 | 1.48 | 0.0% | | The Hong Kong & Shanghai Hotels Ltd | 5.20 | 5.15 | 1.0% | | Shangri-La Asia Limited | 4.79 | 4.68 | 2.4% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 888.00 | 900.00 | -1.3% | | IHCL (Taj Hotels, Resorts & Palaces) | 691.25 | 669.80 | 3.2% | | EIH (Oberoi Hotels & Resorts) | 384.80 | 396.00 | -2.8% | | Hotel Leela Ventures | 20.00 | 20.71 | -3.4% | | Lemon Tree Hotels Ltd | 132.35 | 131.15 | 0.9% | | Mahindra Holiday & Resorts | 422.70 | 436.00 | -3.1% | | Royal Orchid Hotels | 374.00 | 365.80 | 2.2% | | SAMHI Hotels Limited | 214.00 | 218.30 | -2.0% | | |
| The Shilla | 45850.00 | 44800.00 | 2.3% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.60 | 0.57 | 6.2% | | ARA Htrust (US$) | 0.25 | 0.24 | 2.1% | | Ascott Residence Trust | 0.94 | 0.93 | 1.1% | | Banyan Tree Holdings Limited | 0.33 | 0.33 | 0.0% | | CDL Hospitality Trusts | 0.96 | 0.93 | 2.7% | | Far East Hospitality Trust | 0.64 | 0.64 | 0.0% | | Frasers Hospitality Trust | 0.45 | 0.44 | 2.3% | | Hotel Grand Central Ltd | 0.73 | 0.73 | 0.0% | | Hotel Properties Ltd | 3.60 | 3.57 | 0.8% | | Mandarin Oriental International Ltd (US$) | 1.71 | 1.63 | 4.9% | | Stamford Land Corporation Ltd | 0.37 | 0.38 | -1.3% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 201.00 | 198.00 | 1.5% | | The Ambassador Hotel, Ltd | 58.70 | 56.10 | 4.6% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 69600.00 | 70000.00 | -0.6% | | Imperial Hotel, Ltd | 929.00 | 921.00 | 0.9% | | Red Planet Japan Inc | 1108.00 | 1011.00 | 9.6% | | |
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