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Market Snapshot: Asia Pacific 2023
By Hok Yean Chee
The Market Snapshot: Asia Pacific 2023 highlights an overview of transaction activity in the region and presents 25 markets’ current hospitality landscape; each covering demand and supply dynamics, hotel performances, and key transactions.
To view and download the full article, please click here.
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New flight route connecting Singapore and Palau to take off on Nov 23
Singapore is set to connect with the island nation of Palau as a new flight route is announced. The inaugural commercial flight is scheduled for November 23, and it will link Singapore, Palau, and Bhutan. The five-hour flight between Singapore and Palau will operate once a week on Thursdays from November 23 to December 20. From December 21, there will be biweekly flights on Thursdays and Sundays. This new route follows the signing of an open skies’ agreement in October 2022 between Singapore and Palau. Previously, reaching Palau required a lengthy seven-hour connection via Manila, excluding transit time. The route is expected to boost tourism and make Palau more accessible to travellers. Palau, an archipelago comprising around 340 islands, is known for its clear waters, coral reefs, and outdoor activities such as snorkelling and diving.
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Popular ‘floating tourist train’ makes a comeback
The State Railway of Thailand (SRT) has revived its popular "floating train" service to Pasak Jolasid Dam in Lopburi province. Two round-trip journeys from Bangkok will be available every weekend in November, December 2023, and January 2024. This service offers travellers stunning views of Thailand’s longest earthen dam, the Pasak Jolasid Dam, which was built under the initiative of the late King Bhumibol Adulyadej to mitigate flooding in the Pasak and Chao Phraya River basins. The train departs from Bangkok’s Hua Lamphong station at 6 am and reaches the dam’s "floating railway" viewing point at 9:25 am. It stops for 20 minutes for passengers to enjoy the scenery before moving to Khok Salung station, where day-trippers can shop for souvenirs. The train then returns to the dam at 10:35 am, allowing passengers to disembark and explore nearby tourism spots, before departing for Bangkok at 3:30 pm. Activities include visiting the Pasak Basin Museum and having lunch in local communities. The train arrives back at Hua Lamphong station at 6:50 pm.
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Cambodia’s newest and biggest airport opens in Siem Reap, the gateway to UNESCO-listed Angkor
Cambodia’s newest and largest airport Siem Reap-Angkor International Airport (SAI) opened this Monday to commercial operations in the province of Siem Reap near the UNESCO-listed Angkor Archaeological Park. The new airport, funded by China as part of its Belt and Road Initiative at a cost of about $1.1 billion, was designed to initially handle 7 million passengers a year, 2 million more than the previous Siem Reap International Airport (REP) and has a 3,600-meter-long runway. The airport is the first overseas international airport to be constructed under a “Build-Operate-Transfer” model by Chinese companies and is operated and managed by the Yunnan Aviation Industry Investment Group and is designed to accommodate larger commercial planes, including those used on global long-haul routes. This new airport serves to further tourism within Cambodia and is on track to receive 4.5 to 5 million international tourists having received 3.5 million international arrivals in the first 8 months of 2023.
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Hong Kong Airlines Resumes Flights to Kumamoto
Hong Kong Airlines has announced resumption of direct service to Kumamoto later this year, previously operating this route in 2016. This route will run three times weekly and marks the fifth destination launched this year. Kumamoto, located on the island of Kyushu, boasts natural landscapes and is a popular destination for nature enthusiasts. Kumamoto features volcanic landscapes at Mount Aso and hosts one of the world’s largest calderas, the volcanic activity provides for the island’s numerous hot springs. Kumamoto marks Hong Kong Airlines’ second destination in Kyushu, complementing the existing daily routes to Fukuoka. Hong Kong Airlines has been expanding routes throughout Japan with flights to seven destinations across the country. The airline has been adjusting flight frequencies to capture the growing travel demand for Japan.
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Absolute Share Price Performance, as of 27 October 2023 | |
| Closing Share Price | 27 October 2023 | 20 October 2023 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.26 | 1.29 | -2.7% | | Event Hospitality & Entertainment Ltd | 10.16 | 10.75 | -5.5% | | General Property Group | 3.60 | 3.73 | -3.5% | | Mirvac Group | 1.88 | 2.04 | -8.1% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 45.00 | 43.75 | 2.9% | | Dusit Thani Public Co Ltd | 7.55 | 7.40 | 2.0% | | The Erawan Group Public Co Ltd | 5.15 | 4.98 | 3.4% | | Grande Asset Hotels & Property Public Co Ltd | 0.18 | 0.18 | 0.0% | | Laguna Resorts & Hotel Public Co Ltd | 35.25 | 34.00 | 3.7% | | Minor International Public Co Ltd | 28.25 | 28.25 | 0.0% | | S Hotels and Resorts Public Company Limited | 2.42 | 2.40 | 0.8% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 7.88 | 7.55 | 4.4% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 4.02 | 3.89 | 3.3% | | Guangzhou Lingnan Group Holdings Company Limited | 8.50 | 8.04 | 5.7% | | |
| Huazhu Group Limited | 37.45 | 34.08 | 9.9% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 9.80 | 10.12 | -3.2% | | Regal Hotels International Holdings Ltd | 2.71 | 2.61 | 3.8% | | Sino Hotels Holdings Ltd | 1.65 | 1.69 | -2.4% | | The Hong Kong & Shanghai Hotels Ltd | 6.03 | 6.13 | -1.6% | | Shangri-La Asia Limited | 5.07 | 5.11 | -0.8% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 560.95 | 582.15 | -3.6% | | IHCL (Taj Hotels, Resorts & Palaces) | 374.50 | 404.95 | -7.5% | | EIH (Oberoi Hotels & Resorts) | 211.50 | 223.20 | -5.2% | | Hotel Leela Ventures | 21.35 | 22.05 | -3.2% | | Lemon Tree Hotels Ltd | 112.30 | 119.55 | -6.1% | | |
| The Shilla | 68,500 | 67,900 | 0.9% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.43 | 0.44 | -1.1% | | ARA Htrust (US$) | 0.24 | 0.24 | -2.1% | | Ascott Residence Trust | 0.93 | 0.88 | 5.7% | | Banyan Tree Holdings Limited | 0.39 | 0.38 | 4.0% | | CDL Hospitality Trusts | 0.96 | 0.96 | 0.0% | | Far East Hospitality Trust | 0.59 | 0.57 | 3.5% | | Frasers Hospitality Trust | 0.51 | 0.50 | 2.0% | | Hotel Grand Central Ltd | 0.80 | 0.78 | 1.9% | | Hotel Properties Ltd | 3.58 | 3.58 | -0.6% | | Mandarin Oriental International Ltd (US$) | 1.48 | 1.56 | -5.1% | | Stamford Land Corporation Ltd | 0.37 | 0.37 | 0.0% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 196.00 | 190.00 | 3.2% | | The Ambassador Hotel, Ltd | 47.25 | 48.10 | -1.8% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 70,200 | 69,300 | 1.3% | | Imperial Hotel, Ltd | 898 | 920 | -2.4% | | Red Planet Japan Inc | 18 | 19 | -5.3% | | |
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