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HVS Monday Musings: Lonavala: a Thriving Leisure Destination in Maharashtra

By Saniya Zanpure and Dipti Mohan

The hospitality industry in Lonavala, a popular weekend destination near Pune and Mumbai, has thrived over the last 2 years. Read on to know more.


To view and download the full article, please click here

Evergrande Group Sold Crystal City Project in Hangzhou for CNY3.66 billion

China-based Evergrande Group (“EG”) has announced to sell the land use and the building ownership of Crystal City Project (“CCP”) in Hangzhou to Zhejiang Zhejian Real Estate Group (“ZZREG”) and Zhejiang Construction Engineering Group (“ZCEG”) for CNY3.66 billion. CCP is envisaged to be a luxury regional attraction for tourists and residents. The proceeds of the transaction will be used to repay the construction fee of CNY920.7 million to ZCEG and the rest for the expense of its working capital. EG is expected to gain a profit of CNY216 million from the deal. 

PLP Architecture Unveils Masterplan of Tokyo’s Largest Mixed-use Regeneration Development

UK-based PLP Architecture International Ltd has developed plans for Tokyo Cross Park, an upcoming redevelopment of an entire district led by Japan-based Mitsui Fudosan Co., Ltd., which is set to become the most important development site in the metropolitan area of Tokyo. The project includes a total floor area of 1.1 million square meters, and the site connects to the 16-hectare Hibiya public park and will consist of four towers, a 31-meter-tall podium, and a two-hectare public plaza, together containing offices, commercial facilities, hotels, residential, co-creation spaces, and an extensive public realm. In addition to the rejuvenation of the new Imperial Hotel main building, a separate small super-luxury hotel and a wellness-focused hotel will also be both opened. Furthermore, rental housing and serviced apartments will introduce a new premium level ‘live’ offering into the area.

Singapore to Provide Additional Funding of SGD500 Million for the Recovery of the Tourism Industry

The Singapore government has set aside a budget of SGD500 million as financial support for the recovery of the tourism sector. The funds would be used to assist and strengthen the manpower capabilities in the sector, reduce expenses and improves competitiveness through digital transformation, and encourage the adoption of sustainable solutions. The COVID-19 pandemic has greatly reduced the tourism workforce. To prepare the tourism workforce for the recovery of the tourism industry, Singapore Tourism Board (“STB”) and National Trades Union Congress and Workforce Singapore (“NTUCWS”) has set up the Tourism Career Hub (“TCH”) to assist both working individuals and business owners to develop relevant skills for the industry. In line with Singapore's strategy to be a sustainable urban destination, Singapore had also launched the Tourism Sustainability Programme (“TSP”) to motivate tourism businesses to adopt innovations that enhance resource efficiency and improve business competitiveness.

VISA and Tourism Malaysia Collaborate to Drive Tourist Expenditure

US-based Visa Inc (“Visa”) has announced a partnership with Tourism Malaysia (“TM”) to promote the country as a preferred travel destination and drive tourism receipts in both domestic and international markets. The partnership includes the launch of the Visa Preferred Merchant (“VPM”) programme, providing exclusive offers in accommodation, air tickets, dining, shopping, and medical wellness for Visa cardholders. Malaysia had achieved 26.1 million international visitor arrival back in 2019 and recorded MYR86.1 billion in tourism receipts. By the end of 2022, Malaysia aims to attract two million international visitors arrival and MYR6.8 billion in tourism receipts.

Absolute Share Price Performance, as of 15 April 2022

Closing Share Price

15 April 2022

08 April 2022

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group

2.25

2.22

1.4%

Event Hospitality & Entertainment Ltd

14.22

14.04

1.3%

General Property Group

5.11

5.11

0.0%

Mirvac Group

2.46

2.43

1.2%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd

41.75

40.00

4.4%

Dusit Thani Public Co Ltd

9.75

9.65

1.0%

The Erawan Group Public Co Ltd

3.56

3.44

3.5%

Grande Asset Hotels & Property Public Co Ltd

0.19

0.20

-5.0%

Laguna Resorts & Hotel Public Co Ltd

28.75

29.50

-2.5%

Minor International Public Co Ltd

34.50

34.50

0.0%

S Hotels and Resorts Public Company Limited

3.78

3.74

1.1%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

9.10

8.22

10.7%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.

4.39

4.05

8.4%

Guangzhou Lingnan Group Holdings Company Limited

10.92

12.18

-10.3%

NASDAQ (US$)

Huazhu Group Limited

33.43

32.24

3.7%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd

12.70

12.84

-1.1%

Regal Hotels International Holdings Ltd

3.19

3.30

-3.3%

Sino Hotels Holdings Ltd

2.03

2.12

-4.2%

The Hong Kong & Shanghai Hotels Ltd

8.28

8.26

0.2%

Shangri-La Asia Limited

6.03

6.14

-1.8%

National Stock Exchange (INR)

Chalet Hotels Ltd

309.50

310.00

-0.2%

IHCL (Taj Hotels, Resorts & Palaces)

251.55

253.85

-0.9%

EIH (Oberoi Hotels & Resorts)

164.90

167.20

-1.4%

Hotel Leela Ventures

11.40

11.70

-2.6%

Lemon Tree Hotels Ltd

68.70

66.70

3.0%

Korea Exchange (KRW)

The Shilla

81,900

83,100

-1.4%

Singapore Stock Exchange (S$)

Amara Holdings Ltd

0.37

0.38

-3.9%

ARA Htrust (US$)

0.51

0.50

1.0%

Ascott Residence Trust

1.11

1.11

0.0%

Banyan Tree Holdings Limited

0.30

0.30

-1.7%

CDL Hospitality Trusts

1.30

1.29

0.8%

Eagle Htrust

0.14

0.14

na

Far East Hospitality Trust

0.68

0.64

5.5%

Frasers Hospitality Trust

0.63

0.60

5.0%

Hotel Grand Central Ltd

1.03

1.05

-1.9%

Hotel Properties Ltd

3.55

3.57

-0.6%

Mandarin Oriental International Ltd (US$)

2.05

2.06

-0.5%

Stamford Land Corporation Ltd

0.40

0.40

0.0%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation

176.50

173.50

1.7%

The Ambassador Hotel, Ltd

31.25

32.40

-3.5%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.

66,200

64,300

3.0%

Imperial Hotel, Ltd

1,807

1,794

0.7%

Red Planet Japan Inc

52

57

-8.8%

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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