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CapitaLand Ascott Trust to Divest Citadines Mount Sophia Singapore for SGD148 Million
CapitaLand Ascott Trust (CLAS), a Singapore-based lodging trust, has announced the sale of Citadines Mount Sophia Singapore (“The property”) for SGD148 million, to a joint venture between Hong Kong-based Weave Living and US-based asset manager, BlackRock. This transaction is expected to be completed in 1Q 2024. Located at 8 Wilkie Road in Singapore, the 154-key serviced residence forms the residential component of a mixed-use development called Wilkie Edge. Weave Living, an accommodation company, announced that the property will be renovated and re-launched under Weave Living’s contemporary serviced accommodation brand – Weave Suites (“Weave”). The renovated property will be Weave’s second property in Singapore and is expected to open around early-2025 featuring, fully self-contained studios, one-bedroom apartments, and amenity-rich resident spaces.
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IOI Properties Acquires MYR165 Million Penang Marriott Hotel in Malaysia
Malaysia-based IOI Properties Group has announced the acquisition of the Courtyard by Marriott Penang (“The hotel”), in Malaysia, from Malaysia-based Tropicana Corp, for MYR165 million. The 199-key hotel first opened in 2020 and was Malaysia’s first Courtyard-branded hotel. Located in George Town, Penang, Malaysia, the 22-storey hotel towers over the Straits of Malacca and the city.
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Choice Hotels APAC Acquires City Edge Apartment Hotels Franchise
Choice Hotels Asia-Pacific (APAC) (“Choice Hotels”), one of the largest hotel franchise groups in APAC and an owned subsidiary of US-based Choice Hotels International, has acquired the City Edge Apartment Hotels franchise (“City Edge”). This acquisition would enable Choice Hotels to expand their footprint in Australia, by doubling their presence in inner Melbourne. Choice Hotels will thus have an addition of 271 apartment-style rooms across five prime locations, near key business hubs – South Melbourne, North Melbourne, Melbourne CBD, East Melbourne, and Box Hill. The acquisition deal also includes City Edge’s active franchise agreements, the brand, and associated intellectual property.
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Singapore’s Marina Bay Sands Gets Authority Approval for their Fourth Tower Construction
Singapore’s Marina Bay Sands (MBS) has received development approval from the Urban Redevelopment Authority, to construct a fourth tower. The new tower is expected to have 153,100 square metres of hotel space and 12,185 square metres of retail space. MBS’s parent company, US-based Las Vegas Sands, mentioned that the new tower will be developed with a focus on enhancing the leisure and business tourism appeal of Singapore. Construction is expected to be completed by 8 April 2028, with the tower comprising 587 all-suite rooms, a live performance arena with a minimum seated capacity of 15,000 spectators, additional meetings, incentives, conventions, and exhibitions (MICE) facilities, and luxury retail shops. Furthermore, the tower’s top floor will house a sky roof with a swimming pool, and additional tourist attractions that will be announced at a later date.
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Vietjet to Expand Its Flight Network to Vietnam, China, and Taiwan
Vietjet has announced the launch of new flight routes to Vietnam, China, and Taiwan. Within Vietnam, from 1 March 2024, there will be a new non-stop service between Hanoi and Dien Bien, operating initially for three times a week. Regarding international routes, Vietjet had recently launched their daily, non-stop, Phu Quoc, Vietnam, and Taiwan route. Furthermore, on 10 February 2024, Vietjet will begin their daily, non-stop, Ho Chi Minh, Vietnam, and Chengdu, China, flight service. To accommodate the growing demand for their services and enhance operational reliability, Vietjet has recently received four wet-leased Airbus A320-200s. The airline has also recently won the International Finance Award, which is awarded to those with global business excellence, leadership skills and capabilities in finance, aviation, banking, energy, services, and more.
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Please note we will not be publishing the HVS Newsletter for the Week Ending 9 February 2024,
and will resume the week after.
Wishing all readers, a Prosperous Dragon Year in 2024!
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Absolute Share Price Performance, as of 2 February 2024 | |
| Closing Share Price | 2 February 2024 | 26 January 2024 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.32 | 1.32 | 0.4% | | Event Hospitality & Entertainment Ltd | 12.57 | 12.64 | -0.6% | | General Property Group | 4.64 | 4.41 | 5.2% | | Mirvac Group | 2.16 | 2.09 | 3.3% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 43.25 | 42.50 | 1.8% | | Dusit Thani Public Co Ltd | 8.20 | 8.30 | -1.2% | | The Erawan Group Public Co Ltd | 5.15 | 5.15 | 0.0% | | Grande Asset Hotels & Property Public Co Ltd | 0.14 | 0.14 | 0.0% | | Laguna Resorts & Hotel Public Co Ltd | 39.25 | 39.25 | 0.0% | | Minor International Public Co Ltd | 30.75 | 29.25 | 5.1% | | S Hotels and Resorts Public Company Limited | 2.48 | 2.40 | 3.3% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 6.51 | 7.87 | -17.3% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.07 | 3.98 | -22.9% | | Guangzhou Lingnan Group Holdings Company Limited | 7.20 | 8.83 | -18.5% | | |
| Huazhu Group Limited | 31.20 | 33.93 | -8.0% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 9.98 | 10.10 | -1.2% | | Regal Hotels International Holdings Ltd | 2.95 | 2.95 | 0.0% | | Sino Hotels Holdings Ltd | 1.70 | 1.78 | -4.5% | | The Hong Kong & Shanghai Hotels Ltd | 5.31 | 5.67 | -6.3% | | Shangri-La Asia Limited | 4.93 | 5.10 | -3.3% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 786.60 | 761.90 | 3.2% | | IHCL (Taj Hotels, Resorts & Palaces) | 500.00 | 473.60 | 5.6% | | EIH (Oberoi Hotels & Resorts) | 339.00 | 310.45 | 9.2% | | Hotel Leela Ventures | 35.65 | 36.15 | -1.4% | | Lemon Tree Hotels Ltd | 142.05 | 138.50 | 2.6% | | Mahindra Holidays & Resorts | 418.65 | 397.65 | 5.3% | | Royal Orchid Hotels | 386.85 | 351.70 | 10.0% | | SAMHI Hotels Limited | 203.30 | 182.65 | 11.3% | | |
| The Shilla | 59,700 | 60,100 | -0.7% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.60 | 0.59 | 2.6% | | ARA Htrust (US$) | 0.30 | 0.29 | 1.7% | | Ascott Residence Trust | 0.97 | 0.93 | 4.3% | | Banyan Tree Holdings Limited | 0.33 | 0.34 | -1.5% | | CDL Hospitality Trusts | 1.03 | 1.03 | 0.0% | | Far East Hospitality Trust | 0.64 | 0.65 | -1.6% | | Frasers Hospitality Trust | 0.46 | 0.46 | 0.0% | | Hotel Grand Central Ltd | 0.81 | 0.81 | 0.0% | | Hotel Properties Ltd | 3.60 | 3.56 | 1.1% | | Mandarin Oriental International Ltd (US$) | 1.47 | 1.50 | -2.0% | | Stamford Land Corporation Ltd | 0.40 | 0.40 | -1.3% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 215.00 | 212.50 | 1.2% | | The Ambassador Hotel, Ltd | 46.30 | 45.45 | 1.9% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 75,000 | 76,000 | -1.3% | | Imperial Hotel, Ltd | 1,062 | 1,022 | 3.9% | | Red Planet Japan Inc | 17.00 | 18.00 | -5.6% | | |
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