HVS Monday Musings: Indian Hotel Sector - Riding the Next Growth Cycle

By Mandeep S Lamba, Dipti Mohan

Despite several headwinds such as inflationary pressure, the possibility of a recession in the US and Europe, and a manpower shortage, the Indian hotel industry’s performance outlook remains positive. Read on to know more.

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Capital Alliance and TFE Hotels has Announced to Build a AUD340 Million Mixed-use Development in Melbourne Docklands

Australia-based TFE Hotels (“TFE”), an international hotel group has entered a partnership with a local developer and hotel owner Capital Alliance (“CA”). Both entities have announced a two-tower mixed-use development project in Melbourne Docklands, a first of its kind featuring two world-class local hotel brands which will be connected through a sky bridge. Set to open in 2026, The AUD340 million project will feature Australia’s largest rooftop infinity pool, a conference centre with a capacity of 1,000 pax, and two accommodation towers. All of which come with an unobstructed 360-degree view of Melbourne city. Located at 28-38 Pearl River Road, Dockland, the mixed-use development project will also comprise a day spa, retails, and restaurants. The two towers will have a 200 key first purpose-built Collection by TFE Hotels and a 105 key premium brand A by Adina from TFE, aiming to deliver a perfect mesh of a hotel and a private city apartment experience.

Steadfast Capital to Develop Dual Hotel at Bourke Street Mall, Melbourne

Singapore-based Steadfast Capital (“SC”) has announced the development of the dual hotel project at Bourke Street mall shopping precinct for AUD200 million. Slated to be open in April 2024, both hotels with a total of 450 rooms will be operated by the IHG Group, with 180 rooms branded as Hotel Indigo and 270 rooms to be branded under Holiday Inn. The dual hotel development will be situated above a three-storey shopping mall. The Bourke Street mall is Melbourne’s premier shopping street where flagship department stores, such as David Jones and Myer can be found. Apart from the dual hotels, Bourke Street Mall will also expect opening of new retail offerings and office hub in the coming years to rejuvenate the area.

Weave Living Acquired Two Hotel Properties in Hong Kong for HKD3.2 Billion

Hong Kong-based Weave Living (“WL”) has acquired two hotels from the Tang Shing Bor family for HKD3.2 billion. It is understood HKD2.47 billion and HKD730 million was spent on the acquisition of the 598-key Hotel COZi Harbour View (“HCHW”) and 199-key Hotel Ease Mong Kok (“HEMK”). Located five minutes away from Ngau Tau Kok MRT station, HCHW features eleven room types and a carpark. On the other hand, HEMK is located one minute away from Mong Kok MRT station and features restaurant and a car park. WL has acquired five properties in Hong Kong in 2022 including the 435-key The Bay Bridge Lifestyle Retreat for HKD1.42 billion and the 435-key Rosedale Hotel Kowloon for HKD1.37 billion.

Pollux Properties to Acquire Three Hotels in Indonesia for IDR217 billion

Singapore-based Pollux Properties (“PP”) will be acquiring three hotels in Bekasi, a city in the Western Java of Indonesia, for IDR217 billion. The deal will be transacted fully by cash. The 3 hotels are expected start operations in the first quarter of 2023. However, the operator of the properties has not been confirmed. PP mentioned that this transaction will increase value for its shareholders, improve income stability of the company, and help the company expand its hotel portfolio overseas.

Absolute Share Price Performance, as of 16 September 2022

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 [email protected]

Mandeep S. Lamba, President, South Asia – HVS Anarock [email protected]

Mei Leng Ho, Senior Vice President – HVS Singapore [email protected]

Florian Kittler, Managing Director – HVS Executive Search Europe & Asia Pacific [email protected]

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