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HVS Monday Musings: Multiskilled Workforce – A Necessity for the Indian Hotel Sector
By Mandeep S Lamba and Dipti Mohan
The often-overlooked opportunity to multi-skill hotel employees is a great way to address the staffing issues in the Indian hotel industry. Read on to know more.
To view and download the full article, please click here.
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Blackstone Group Acquires Crown Resorts for AUD8.9 billion after Approval from Australian Federal Court
US-based Blackstone Group ("BG") has acquired Crown Resorts Ltd ("CRL") for AUD8.9 billion as the Australian Federal Court approves the deal. The offer of AUD13.10 per share is 11% higher than BSG's previous bid in November 2021. CRL is one of Australia's most extensive entertainment groups, operators, and developers of integrated resorts. CRL operates more than 3,000 guest rooms over three developments: Crown Melbourne, Crown Perth, and Crown Sydney. The major shareholder of CRL, James Parker, would be receiving AUD3.3 billion from the deal for the 37% shares of CRL.
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S Hotel & Resort Moves Forward with its Portfolio Enhancement Strategy in the UK
Thailand-based S Hotel and Resorts Public Company Limited ("SHR") is moving forward confidently with its portfolio enhancement strategy in the United Kingdom. The strategy is based on three core pillars of portfolio enhancement: asset rotation and renovations, tactical mergers and acquisitions, and developing an asset-light business model to help accelerate its recovery from the global pandemic. The S Hotel & Resorts group currently has 27 hotels in the UK with 2,940 keys, operating under world-leading brands such as Mercure and Holiday Inn. In February 2021, S Hotels & Resorts invested GBP13.75 million to purchase additional 50% stakes in 26 of its UK hotels, raising its total ownership of these properties to 100%. The main strength of enhancing the UK hotel portfolio is that it is well-balanced both geographically and seasonally, and the revenue from the UK portfolio is expected to increase 50% in 2022 compared to 2021.
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Alliance Global Group Injects USD75 million on Resort World Manila Expansion Projects
Philippine-based conglomerate Alliance Global Group Inc (“AGI”) announced to inject PHP4 billion (USD75 million) on expansion projects to Resort World Manila, a jointly owned integrated resort. AGI stated that the corporate would provide funding to the parent company Travellers International Hoel Group Inc’s ongoing expansion projects, especially in the leisure and entertainment sector, as part of a broader capital expenditure plan with a total amount of PHP60 billion (USD1.1 billion). With a propelled reinvigorated VIP business, Resort World Manila has demonstrated a rise in gross gaming revenues on eased quarantine restrictions. The entire Resort World Manila complex is currently opened for MICE activities as nearby hotels such as Marriott Manila, Sheraton Manilla, Hilton Manila, and Hotel Okura Manila provide sufficient room supply.
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STB and CapitaLand Enter into a Multi-Faceted Partnership to Boost Singapore’s Retail Scene
Singapore-based Singapore Tourism Board ("STB") and Singapore-based CapitaLand Investment Limited ("CIL") entered into a multi-faceted three-year partnership earlier in June 2022. STB and CLI will curate 20 events and experiences together during the three years. The partnership objectives include home-grown profile brands locally and in China across selected CapitaLand malls in both countries, creating unique retail entertainment and lifestyle offerings, and collaborating with international brands to raise the profile of Singapore's retail scene. On June 12, STB collaborated with CLI to support the inaugural Wellness Festival Singapore ("WFS"), which is a key part of STB's strategy to position the city as a leading Urban Wellness Haven.
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Absolute Share Price Performance, as of 17 June 2022 | |
| Closing Share Price | 17 June 2022 | 10 June 2022 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.67 | 1.84 | -9.2% | | Event Hospitality & Entertainment Ltd | 13.70 | 13.90 | -1.4% | | General Property Group | 4.10 | 4.32 | -5.1% | | Mirvac Group | 2.08 | 2.06 | 1.0% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 42.25 | 42.75 | -1.2% | | Dusit Thani Public Co Ltd | 11.40 | 9.80 | 16.3% | | The Erawan Group Public Co Ltd | 3.84 | 3.78 | 1.6% | | Grande Asset Hotels & Property Public Co Ltd | 0.21 | 0.22 | -4.5% | | Laguna Resorts & Hotel Public Co Ltd | 32.00 | 30.25 | 5.8% | | Minor International Public Co Ltd | 32.75 | 35.25 | -7.1% | | S Hotels and Resorts Public Company Limited | 4.34 | 4.54 | -4.4% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 9.75 | 9.92 | -1.7% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.73 | 3.94 | -5.3% | | Guangzhou Lingnan Group Holdings Company Limited | 10.46 | 10.19 | 2.6% | | |
| Huazhu Group Limited | 31.07 | 31.32 | -0.8% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 14.14 | 14.42 | -1.9% | | Regal Hotels International Holdings Ltd | 3.15 | 3.19 | -1.3% | | Sino Hotels Holdings Ltd | 2.04 | 2.05 | -0.5% | | The Hong Kong & Shanghai Hotels Ltd | 6.93 | 7.71 | -10.1% | | Shangri-La Asia Limited | 6.07 | 6.22 | -2.4% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 287.50 | 297.25 | -3.3% | | IHCL (Taj Hotels, Resorts & Palaces) | 211.05 | 220.25 | -4.2% | | EIH (Oberoi Hotels & Resorts) | 125.10 | 135.20 | -7.5% | | Hotel Leela Ventures | 8.90 | 8.90 | 0.0% | | Lemon Tree Hotels Ltd | 62.00 | 65.60 | -5.5% | | |
| The Shilla | 71,600 | 77,300 | -7.4% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.33 | 0.35 | -5.7% | | ARA Htrust (US$) | 0.47 | 0.50 | -5.1% | | Ascott Residence Trust | 1.15 | 1.17 | -1.7% | | Banyan Tree Holdings Limited | 0.26 | 0.27 | -1.9% | | CDL Hospitality Trusts | 1.30 | 1.28 | 1.6% | | Eagle Htrust | 0.14 | 0.14 | na | | Far East Hospitality Trust | 0.64 | 0.68 | -5.2% | | Frasers Hospitality Trust | 0.70 | 0.66 | 5.3% | | Hotel Grand Central Ltd | 0.99 | 1.00 | -1.0% | | Hotel Properties Ltd | 3.55 | 3.56 | -0.3% | | Mandarin Oriental International Ltd (US$) | 1.93 | 2.07 | -6.8% | | Stamford Land Corporation Ltd | 0.39 | 0.39 | -1.3% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 163.50 | 181.00 | -9.7% | | The Ambassador Hotel, Ltd | 31.85 | 32.20 | -1.1% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 65,100 | 65,700 | -0.9% | | Imperial Hotel, Ltd | 1,851 | 1,853 | -0.1% | | Red Planet Japan Inc | 55 | 61 | -9.8% | | |
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