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HVS Monday Musings: Alternative Accommodation – Threat or Opportunity for Indian Hotel Sector?

By Mandeep S Lamba and Dipti Mohan

Post-COVID, travelers' interest in alternative accommodation products such as homestays and villa rentals has increased, intensifying the competition between hotels and alternative accommodations. Continue reading to learn more.


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Glenn Piper Acquires the Leasehold of Whitsundays Hook Island

Sydney hospitality baron Glenn Piper has acquired Whitsundays' Hook Island leasehold in Queensland to build a new luxury eco-resort to attract domestic and international visitors. Hook Island is the second-largest island in Queensland, which is located between Hayman Island and Whitsunday Island. No visitor has been on the island since the closure in 2013 of the 50-key old resort Hook Island Lodge. The market value has been undisclosed, with an estimated amount between AUD10 million and AUD12 million for the lease on a 9.3 hectares area. The island consists of a desirable water frontage and two private beaches property. The Australian baron has continued to purchase properties since 2020 with the purchase of the 105-key Q Station hotel with an estimated value of AUD15 million.

The Straits Trading Co Ltd and Malaysia Smelting Corp Bhd Reveal Masterplan for Penang’s MYR3 Billion Straits City

Singapore-based The Straits Trading Co Ltd (“TST”) and Malaysia-based Malaysia Smelting Corp Bnd (“MSCB”) has revealed their MYR3 billion masterplan for the Straits City (“SC”) in Butterworth, Penang. The SC is a 16.19-hectare mixed-use development with residential, retail, hotel and commercial developments, targeted to be fully constructed by 2038. The first phase of SC development will contain a 23 floors four-star hotel with 343 guest rooms, and 3,885 square metres of net lettable retail space that consist of retail, meeting, incentive, conference and exhibition facilities. The Gross Development Value is estimated to be MYR250 million. The Chief Executive Officer of TST, Eric Teng, added that the phase one of SC is targeted to be open by the third quarter of 2023. According to the State Government’s Vision 2030 plan, Penang’s Butterworth population is expected to increase to 1.2 million, representing 55% of the state’s population.

Quality Hotel Marlow to be Rebranded to Holiday Inn Express & Suites Singapore Novena

Scheduled to open in 2023, the 240-key Quality Hotel Marlow will be rebranded as Holiday Inn Express, the fifth Holiday Inn Express hotel in Singapore, with other operating hotels located in Clark Quay, Katong, Orchard Road, and Serangoon. Located in the Balestier district of Singapore, the property will undergo an extensive renovation and is expected to offer 231 rooms, including 34 suites specifically catered for extended guest stays, families, and large groups. The property will feature meeting rooms of approximately 500 square meters, a gym, a swimming pool, and self-service laundry. To target the business and leisure travellers to the property, an integrated lobby and food and beverage venue called the Express Café & Bar can be the perfect setting for guests seeking a place to work, relax, or recharge.

Six Senses Fiji has been Acquired by Sequitur Resorts after Restructure

Six Senses Fiji has been acquired by Sequitur Resorts (“SR”) after a successful restructure and relaunch led by the US-based FTI Consulting ("FTI"). Six Senses Fiji will be operated by predominantly local Fijian Staff, employing over 130 people. The resort features 24 villas on the western coastline of Malolo Island in the Mamanuca Islands. The Six Senses Fiji resort was completed in 2018 and reopened its doors after two years on 1 April 2020. Fiji is a world-renowned destination that enjoys direct flights from many destinations. The visitor arrivals had shown significant growth from 2000 to 2019, from 300,000 annually to 900,000.

Absolute Share Price Performance, as of 27 May 2022

Closing Share Price

27 May 2022

20 May 2022

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group

1.99

1.96

1.5%

Event Hospitality & Entertainment Ltd

14.75

14.79

-0.3%

General Property Group

4.76

4.77

-0.2%

Mirvac Group

2.23

2.15

3.7%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd

41.00

40.25

1.9%

Dusit Thani Public Co Ltd

9.95

9.70

2.6%

The Erawan Group Public Co Ltd

3.86

3.76

2.7%

Grande Asset Hotels & Property Public Co Ltd

0.24

0.25

-4.0%

Laguna Resorts & Hotel Public Co Ltd

32.50

29.00

12.1%

Minor International Public Co Ltd

34.75

33.75

3.0%

S Hotels and Resorts Public Company Limited

4.60

4.08

12.7%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

9.11

9.07

0.4%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.

3.64

3.63

0.3%

Guangzhou Lingnan Group Holdings Company Limited

9.90

9.68

2.3%

NASDAQ (US$)

Huazhu Group Limited

30.76

28.62

7.5%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd

13.18

12.20

-0.2%

Regal Hotels International Holdings Ltd

3.07

3.00

2.3%

Sino Hotels Holdings Ltd

2.00

2.05

-2.4%

The Hong Kong & Shanghai Hotels Ltd

6.65

7.09

-6.2%

Shangri-La Asia Limited

5.62

5.55

1.32%

National Stock Exchange (INR)

Chalet Hotels Ltd

292.95

302.30

-3.1%

IHCL (Taj Hotels, Resorts & Palaces)

225.05

223.00

-0.9%

EIH (Oberoi Hotels & Resorts)

127.65

138.70

-8.0%

Hotel Leela Ventures

9.10

9.55

-4.7%

Lemon Tree Hotels Ltd

59.15

62.70

-5.7%

Korea Exchange (KRW)

The Shilla

75,600

74,000

2.2%

Singapore Stock Exchange (S$)

Amara Holdings Ltd

0.36

0.35

2.9%

ARA Htrust (US$)

0.48

0.49

-2.0%

Ascott Residence Trust

1.12

1.12

0.0%

Banyan Tree Holdings Limited

0.28

0.27

1.9%

CDL Hospitality Trusts

1.22

1.27

-3.9%

Eagle Htrust

0.14

0.14

na

Far East Hospitality Trust

0.65

0.67

-2.3%

Frasers Hospitality Trust

0.65

0.60

8.3%

Hotel Grand Central Ltd

1.00

1.02

-2.5%

Hotel Properties Ltd

3.56

3.54

0.6%

Mandarin Oriental International Ltd (US$)

2.02

2.00

1.0%

Stamford Land Corporation Ltd

0.40

0.39

1.3%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation

164.50

161.00

2.2%

The Ambassador Hotel, Ltd

31.40

30.90

1.6%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.

67,300

67,100

0.3%

Imperial Hotel, Ltd

1,820

1,798

1.2%

Red Planet Japan Inc

58

54

7.4%

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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