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HVS Monday Musings: Indian Hotel Sector – 2022 Performance Review
By Akash Datta and Dipti Mohan
The Indian hospitality sector made a significant comeback in 2022. Read on to know more.
To view and download the full article, please click here.
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Grand Mercure Bangkok Windsor Acquired for THB3.2 Billion
Thailand-based Asset World Corporation has acquired Grand Mercure Bangkok Windsor for THB3.2 billion. Located along Sukhumvit’s Soi 20, the property can be reached within 9-minute walk from Asok BTS station. The property was rebranded from the former 456-key Windsor Suites Hotel, which featured six food and beverage outlets, a fitness centre, a spa centre, an executive lounge, and a helipad on its rooftop. This represents the largest hotel transaction recorded in Thailand in 2022.
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Mercure Pakenham Freehold Sold for almost AUD16 Million
The 64-key Mercure Pakenham Australia freehold interest has been sold to a Melbourne-based investor for AUD15.8 million, which represents a sharp passing yield of 5%. The property was sold on a leaseback for 20 years, with the three-storey building sitting on 3,500 square metres of land which is also connected to the popular Cardinia Club. The property which opened in September of 2022 is ideally located within the Pakenham Race Club Precinct and comprises of one restaurant & bar and two meeting rooms.
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L Catterton to invest in Hulic Redevelopment Project in Osaka, Japan
US-based private equity firm L Catterton backed by France-based Fashion Conglomerate Moet Hennesy Louis Vuitton (“LVMH”) has taken a stake in an Osaka redevelopment project led by Japan-based property group Hulic Co., Ltd (“Hulic”). With a gross floor area totaling 46,241 square metres, the 28-storey building will offer a mix of retail, hospitality, and office spaces. The project-site is in the key commercial district Shinsaibashi and includes the redevelopment of the Shinsaibashi Plaza Building and the Shinsaibashi Fuji Building. Upon completion in 2026, the building will have direct access to Shinsaibashi station of the Osaka Metro. To date, the Shinsaibashi Redevelopment project is L Catterton’s second investment in a major Japanese project in less than a year.
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Bohol, Philippines Gets a New Mixed-use Tourism Development
A 50-hectare mixed-use development which costs PHP25 billion that marks sustainability, community and local culture is taking shape in Panglao, Bohol. Named Panglao Shores, which will be Bohol’s first and biggest township will comprise of at least three hotels with 1,000 keys on a kilometre strip of white beach, 1,000 condominium and residential units, 37,000 square metres of indoor and outdoor retail and commercial areas, as well as medical and greenbelt facilities. Developed by the Philippines-based Alturas Group of Companies, the first phase of the 10-year project includes the commercial strip and the ongoing construction of a 188-key South Palms Resort. The resort will be managed by a foreign hotel management company which is slated to open by 2024. Panglao Shores is meant to be sustainable in all aspects, including water supply and electricity, coupled with a sense of place, connection to the surrounding land and Filipino heritage.
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Absolute Share Price Performance, as of 3 February 2023 | |
| Closing Share Price | 3 February 2023 | 27 January 2023 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.74 | 1.70 | 2.1% | | Event Hospitality & Entertainment Ltd | 14.43 | 13.85 | 4.2% | | General Property Group | 4.76 | 4.60 | 3.5% | | Mirvac Group | 2.44 | 2.30 | 6.1% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 52.75 | 52.00 | 1.4% | | Dusit Thani Public Co Ltd | 12.80 | 13.10 | -2.3% | | The Erawan Group Public Co Ltd | 4.78 | 4.86 | -1.6% | | Grande Asset Hotels & Property Public Co Ltd | 0.24 | 0.23 | 4.3% | | Laguna Resorts & Hotel Public Co Ltd | 34.00 | 33.75 | 0.7% | | Minor International Public Co Ltd | 33.75 | 34.00 | -0.7% | | S Hotels and Resorts Public Company Limited | 4.50 | 4.38 | 2.7% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 9.90 | 10.17 | -2.7% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 5.29 | 5.57 | -5.0% | | Guangzhou Lingnan Group Holdings Company Limited | 11.03 | 11.32 | -2.6% | | |
| Huazhu Group Limited | 46.68 | 50.23 | -7.1% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 12.26 | 12.40 | -1.1% | | Regal Hotels International Holdings Ltd | 3.36 | 3.30 | 1.8% | | Sino Hotels Holdings Ltd | 2.18 | 2.18 | 0.0% | | The Hong Kong & Shanghai Hotels Ltd | 8.93 | 8.65 | 3.2% | | Shangri-La Asia Limited | 7.50 | 6.54 | 14.7% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 361.75 | 350.70 | 3.2% | | IHCL (Taj Hotels, Resorts & Palaces) | 318.25 | 286.45 | 11.1% | | EIH (Oberoi Hotels & Resorts) | 166.95 | 160.65 | 3.9% | | Hotel Leela Ventures | 10.15 | 10.15 | 0.0% | | Lemon Tree Hotels Ltd | 75.40 | 72.85 | 3.5% | | |
| The Shilla | 80,200 | 82,900 | -3.3% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.35 | 0.34 | 2.9% | | ARA Htrust (US$) | 0.39 | 0.39 | 0.0% | | Ascott Residence Trust | 1.13 | 1.07 | 5.6% | | Banyan Tree Holdings Limited | 0.37 | 0.36 | 4.2% | | CDL Hospitality Trusts | 1.39 | 1.35 | 3.0% | | Eagle Htrust | 0.14 | 0.14 | na | | Far East Hospitality Trust | 0.68 | 0.67 | 0.7% | | Frasers Hospitality Trust | 0.50 | 0.50 | 1.0% | | Hotel Grand Central Ltd | 0.90 | 0.89 | 1.1% | | Hotel Properties Ltd | 3.58 | 3.57 | 0.3% | | Mandarin Oriental International Ltd (US$) | 1.91 | 1.88 | 1.6% | | Stamford Land Corporation Ltd | 0.40 | 0.41 | -1.2% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 253.50 | 255.00 | -0.6% | | The Ambassador Hotel, Ltd | 32.20 | 32.60 | -1.2% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 80,300 | 83,200 | -3.5% | | Imperial Hotel, Ltd | 1,944 | 1,977 | -1.7% | | Red Planet Japan Inc | 37 | 34 | 8.8% | | |
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