HVS Monday Musings: Bleisure Travel is Back in Business
By Mandeep S Lamba and Dipti Mohan
Bleisure travel – business travelers extending their business trips by a few days for leisure tourism activities – is expected to grow substantially in the next few years. Can the hotel industry leverage its potential? Read on to know more.
To view and download the full article, please click here.
| |
Ascott Proposed to Acquire 9 Property Assets in 5 Key Markets
Singapore-based wholly-owned hotel operator Ascott Residence Trust (“ART”) proposed to acquire nine quality serviced residences, rental housing, and student accommodation properties across Australia, France, Japan, the USA, and Vietnam. The expected total acquisition cost is SGD318 million, and the yield accretive is set to increase ART’s distribution by SGD9.2 million. ART anticipates that the acquisition will strengthen its presence in existing markets and grow the company’s portfolio to SGD8.3 billion. After the acquisition, ART’s portfolio will exceed 100 properties, with over 18,000 units across 47 cities and 15 countries. As 92% of the nine assets’ gross profit are from stable income sources, ART hopes to enhance its portfolio’s income resilience.
| |
Old Supermarket to be Redeveloped as Shoptop Hotel Development
Sydney developers plan to construct a 104-key hotel on a Botany Bay beachfront in Ramsgate, Australia. The AUD78 million mixed-use shoptop hotel development application is now handed to the Bayside Council to envisage a four-storey hotel that will be on top of a rebuilt Coles supermarket, other retail, and food and beverage facilities. The hotel will be built across eight adjoining lots with a total of 4,479 square metres area, 15 kilometres south of the Sydney CBD. The Coles supermarket, built in 1977, will be demolished and rebuilt under the proposal with a larger floorspace on the ground floor with a higher rise development. The second podium level will include a restaurant, gymnasium, spa, office space, retail outlets, and a swimming pool. Two basement levels will provide parking for 204 cars. The second pool is expected to be utilized as a rooftop garden and recreation area.
| |
Singapore’s Park Hotel Alexandra to be Rebranded as Momentus Hotel Alexandra
Singapore’s Park Hotel Alexandra (“PHA”) will be rebranded as Momentus Hotel Alexandra. Opened in 2015, the 442-key PHA will be temporarily closed from 26 August 2022 for a significant refurbishment and name change. Owned by the Momentus Hospitality Ptd Ltd (“MH”), a Singapore-based Chip Eng Seng Group subsidiary, the soon-to-be owner-operated property will implement sustainable solutions and drive technology innovation and adoption in the refurbished property. A new look can be expected for all guest rooms, lobby, and food and beverage establishments. All staff will also undergo training and upskilling to prepare for the launch of the newly branded hotel. The refurbished hotel is expected to benefit from the uptrend in the global tourism and hospitality sector when it reopens in Q1 2023.
| |
Absolute Share Price Performance, as of 19 August 2022 | |
Closing Share Price | 19 August 2022 | 12 August 2022 | % Change | | |
Australia Stock Exchange (ASX) | | |
Elanor Investors Group | 1.79 | 1.74 | 2.9%
| Event Hospitality & Entertainment Ltd | 15.55 | 14.20 | 9.5%
| General Property Group | 4.21 | 4.45 | -5.4%
| Mirvac Group | 2.16 | 2.14 | 0.9%
| | |
Bangkok Stock Exchange (THB) | | |
Central Plaza Hotel Public Co Ltd | 43.75 | 42.50 | 2.9%
| Dusit Thani Public Co Ltd | 11.00 | 11.10 | -0.9%
| The Erawan Group Public Co Ltd | 3.82 | 3.88 | -1.5%
| Grande Asset Hotels & Property Public Co Ltd | 0.22 | 0.22 | 0.0%
| Laguna Resorts & Hotel Public Co Ltd | 31.00 | 31.00 | 0.0%
| Minor International Public Co Ltd | 33.50 | 33.75 | -0.7%
| S Hotels and Resorts Public Company Limited | 4.12 | 4.20 | -1.9%
| | |
China Shanghai Stock Exchange (RMB) | | |
Jinling Hotel Corporation Ltd | 7.65 | 8.11 | -5.7%
| | |
China Shenzhen Stock Exchange (RMB) | | |
Huatian Hotel Group Co.,Ltd. | 3.80 | 3.92 | -3.1%
| Guangzhou Lingnan Group Holdings Company Limited | 9.00 | 9.41 | -4.4%
| | |
Huazhu Group Limited | 38.93 | 39.33 | -1.0%
| | |
Hong Kong Stock Exchange (HK$) | | |
Miramar Hotel & Investment Co Ltd | 13.22 | 13.30 | -0.6%
| Regal Hotels International Holdings Ltd | 3.23 | 3.17 | 1.9%
| Sino Hotels Holdings Ltd | 1.90 | 1.80 | 5.6%
| The Hong Kong & Shanghai Hotels Ltd | 7.21 | 7.29 | -1.1%
| Shangri-La Asia Limited | 6.29 | 6.33 | -0.6%
| | |
National Stock Exchange (INR) | | |
Chalet Hotels Ltd | 336.75 | 333.00 | 1.1%
| IHCL (Taj Hotels, Resorts & Palaces) | 270.10 | 277.75 | -2.8%
| EIH (Oberoi Hotels & Resorts) | 152.80 | 154.85 | -1.3%
| Hotel Leela Ventures | 10.15 | 9.70 | 4.6%
| Lemon Tree Hotels Ltd | 70.75 | 75.70 | -6.5%
| | |
The Shilla | 71,400 | 72,900 | -2.1%
| | |
Singapore Stock Exchange (S$) | | |
Amara Holdings Ltd | 0.35 | 0.34 | 2.9%
| ARA Htrust (US$) | 0.48 | 0.47 | 2.1%
| Ascott Residence Trust | 1.14 | 1.18 | -3.4%
| Banyan Tree Holdings Limited | 0.30 | 0.30 | 0.0%
| CDL Hospitality Trusts | 1.28 | 1.29 | -0.8%
| Eagle Htrust | 0.14 | 0.21 | na
| Far East Hospitality Trust | 0.64 | 0.63 | 0.8%
| Frasers Hospitality Trust | 0.70 | 0.70 | 0.0%
| Hotel Grand Central Ltd | 0.99 | 0.98 | 0.5%
| Hotel Properties Ltd | 3.52 | 3.54 | -0.6%
| Mandarin Oriental International Ltd (US$) | 1.97 | 1.95 | 1.0%
| Stamford Land Corporation Ltd | 0.37 | 0.38 | -1.3%
| | |
Taiwan Stock Exchange (NT$) | | |
Formosa International Hotels Corporation | 166.50 | 165.00 | 0.9%
| The Ambassador Hotel, Ltd | 32.80 | 33.15 | -1.1%
| | |
Tokyo Stock Exchange (JPY) | | |
Japan Hotel REIT Investment Corp. | 69,400 | 69,600 | -0.3%
| Imperial Hotel, Ltd | 1,820 | 1,813 | 0.4%
| Red Planet Japan Inc | 51 | 52 | -1.9%
| | |
Superior Results through Unrivaled Hospitality Intelligence. Everywhere.
| |
Stay current. Click here to receive free HVS newsletters
Looking for insights into the hospitality industry?
Discover unique hospitality intelligence at hvs.com/publications
Interested in a particular market?
Find hundreds of market overviews, all written by HVS experts, at hvs.com/marketreviews
Like to be in the know on hotel trends and predictions?
See our Hotel Valuation Index for dozens of cities at hvi.hvs.com
HVS.com
| |
Copyrights © 2021 All Rights Reserved by HVS
Privacy Policy
Sent By: HVS Asia Pacific
If you would like to change your preferred email format, change your subscribed email address, or have any comments or suggestions, please contact us at: hvs@hvs.com.
| | | | |