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HVS Monday Musings: Reviving Luxury Trains in India

By Mandeep S Lamba and Dipti Mohan

Luxury trains are making a comeback around the world following a COVID-induced hiatus. India’s Palace on Wheels and the Maharajas' Express, two of the world’s best luxury trains, are also set to return later this year. Read on to know more.


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Annie Cannon-Brookes Purchased Dunk Island for an Undisclosed Sum

Annie Cannon-Brookes, the wife of tech billionaire Mike Cannon-Brookes, has settled on Dunk Island in Far North Queensland for an undisclosed sum with plans to rejuvenate the faded resort. The island is one of only a few freehold islands on the entire Great Barrier Reef. The former "Dunk Island Resort" operated as a 4.5-star family resort featuring 160 guest rooms, a 9-hole golf course, multiple food and beverage outlets, tennis courts, and a day spa. The transaction reinforces the appeal of investment in coastal locations and the sentiment of leisure travel across Australia.

Shibuya Upper West Project Mixed-Use Project Revealed with Swire Hotels Debut in Japan

Japan-based Tokyu Corporation, US-based L Catterton and Japan-based Tokyu Department Store have jointly revealed the mixed-use project of Shibuya Upper West Project (“SUWP”) in Tokyo’s Shibuya district. Situated in the heart of Shibuya district, the SUWP will feature a small luxury hotel, high-quality retail and rental residences. Swire Hotels, the subsidiary of Hong Kong-based Swire Properties, will bring the first The House Collective to Japan, and mark the first luxury hotel in the Shibuya district. Targeting completion in the fiscal year 2027, the SUWP will become the ‘super-connector’ and landmark in Shibuya, with prime access to large parks and public transportation

Green-light on AUD86 million Co-Living Development as Approved by Government

The Sydney-based residential and commercial development company, Sasco Development (“SD”), has been approved by the Land and Environment Court ruling to proceed with its AUD86 million development project. Despite the project building exceeding the heights development standard by 7.3m, the court ruled that sufficient environmental planning grounds had been established to justify the breach. The development plan consists of a large-scale mixed-use development comprising four buildings up to seven storeys in Sydney’s northwest featuring 133-room apartments and a 162-room co-living facility. The proposal also includes a new plaza that links Meadowbank shops to the nearby train station, 4,243 square metres of commercial floor space, a ground-level retail area, and 419 car parking spaces

Hong Kong Airport gets USD18 billion Expansion

Hong Kong Airport has opened its third runway on 8 July 2022. The third runway is part of a USD18 billion project that will increase approximately 50% of the footprint, expanding Hong Kong Airport by 650 hectares. An HKD20 billion project conducted by a local conglomerate New World Development is under construction that consists entertainment, retail, and commercial complex. The project aims to solidify the city’s role as a global aviation hub, despite the government’s flight bans and quarantine rules taking down the demand for air travel to and from Hong Kong. Merely 545,000 passengers passed through the airport in the first five months of 2022, which is a fraction of 31.4 million passengers in the same period of 2019. 

Absolute Share Price Performance, as of 22 July 2022

Closing Share Price

22 July 2022

15 July 2022

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group

1.64

1.72

-4.9%

Event Hospitality & Entertainment Ltd

14.03

13.26

5.8%

General Property Group

4.48

4.46

0.4%

Mirvac Group

2.12

2.05

3.4%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd

40.75

39.75

2.5%

Dusit Thani Public Co Ltd

11.10

11.00

0.9%

The Erawan Group Public Co Ltd

3.62

3.42

5.8%

Grande Asset Hotels & Property Public Co Ltd

0.19

0.19

0.0%

Laguna Resorts & Hotel Public Co Ltd

30.00

30.75

-2.4%

Minor International Public Co Ltd

33.25

32.25

3.1%

S Hotels and Resorts Public Company Limited

3.92

3.78

3.7%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

8.47

9.02

-6.1%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.

4.34

4.39

-1.1%

Guangzhou Lingnan Group Holdings Company Limited

9.94

10.19

-2.5%

NASDAQ (US$)

Huazhu Group Limited

39.97

38.43

4.0%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd

13.30

13.38

-0.6%

Regal Hotels International Holdings Ltd

3.29

3.18

3.5%

Sino Hotels Holdings Ltd

1.93

1.99

-3.0%

The Hong Kong & Shanghai Hotels Ltd

6.96

7.00

-0.6%

Shangri-La Asia Limited

6.11

6.05

1.0%

National Stock Exchange (INR)

Chalet Hotels Ltd

326.00

314.05

3.8%

IHCL (Taj Hotels, Resorts & Palaces)

252.00

250.70

0.5%

EIH (Oberoi Hotels & Resorts)

139.95

130.50

7.2%

Hotel Leela Ventures

9.15

9.10

0.5%

Lemon Tree Hotels Ltd

65.50

64.35

1.8%

Korea Exchange (KRW)

The Shilla

70,500

67,600

4.3%

Singapore Stock Exchange (S$)

Amara Holdings Ltd

0.33

0.33

0.0%

ARA Htrust (US$)

0.46

0.46

1.1%

Ascott Residence Trust

1.15

1.13

1.8%

Banyan Tree Holdings Limited

0.28

0.26

9.8%

CDL Hospitality Trusts

1.30

1.24

4.8%

Eagle Htrust

0.14

0.14

na

Far East Hospitality Trust

0.63

0.64

-1.6%

Frasers Hospitality Trust

0.70

0.70

0.7%

Hotel Grand Central Ltd

0.99

0.99

0.0%

Hotel Properties Ltd

3.52

3.55

-0.8%

Mandarin Oriental International Ltd (US$)

1.93

1.90

1.6%

Stamford Land Corporation Ltd

0.39

0.40

-2.5%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation

172.00

164.00

4.9%

The Ambassador Hotel, Ltd

32.80

32.00

2.5%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.

65,500

62,600

4.6%

Imperial Hotel, Ltd

1,811

1,807

0.2%

Red Planet Japan Inc

55

53

3.8%

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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