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HVS Monday Musings: Unlocking the Potential of the Extended-Stay Hotel Segment in India
By Akash Datta, Dipti Mohan, and Dhwani Gupta
Extended-stay hotels are witnessing increasing popularity worldwide.
Read on to know more.
To view and download the full article, please click here.
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Genting Singapore gets URA nod to develop 228,000 sq ft of retail space, 700 hotel rooms at RWS
AN INDIRECT wholly owned subsidiary of Genting Singapore received provisional permission from the Urban Redevelopment Authority (URA) to develop 700 new hotel rooms and retail space with a gross floor area of 21,243 square meters at Resorts World Sentosa (RWS). The scheme and permission given is expected to be part of the pledge Genting Singapore made in 2019 to invest S$4.5 billion to expand its RWS integrated resort with new non-gaming attractions. The approval is slated to expand the hotel capacity at the casino resort by more than 40%, riding the post-pandemic tourism wave. As of now, RWS has six hotels totalling 1,840 rooms and three of the current six hotels with some 1200 rooms are undergoing refurbishment to refresh non-gaming attractions. The overall expansion is expected to give a further boost to the number of keys on the island nation.
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Marina Bay Sands (MBS) Singapore’s renovation to see fourfold increase in suite inventory
An ongoing Renovation and Refurbishment Program will see the property’s suite inventory increase from 200 to 770. With a US$1 billion Renovation and Refurbishment Program of two MBS hotel towers nearing completion, the company revealed it would invest a further US$750 million on Tower 3, to be completed in stages through 2025. The first phase has seen 1,300 hotel rooms refurbished including the expansion of its suite product from 200 to 390 while the Tower 3 investment will take that tally to 1,850 redesigned rooms including 770 suites.
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GIC buys 35% stake in European hotel operator HIP
Singapore’s sovereign wealth fund GIC has invested in a 35 per cent stake in Hotel Investment Partners (HIP), an owner of resort hotels in Southern Europe on October 31. However, financial details of the investment were not disclosed. Founded in 2015, HIP was acquired by funds managed by Blackstone in 2017 and Blackstone will remain as the majority shareholder in HIP with a 65 per cent stake after the acquisition. HIP has pursued an acquisition and repositioning strategy since 2017 and has invested over US$634.14 million into well-located but under-invested hotels and has accumulated 72 hotels across Spain, Greece, Italy and Portugal, employing about 10,000 people, and counts global hotel brands including Ritz-Carlton and Hilton as partners.
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Indonesian president breaks ground for airport in planned USD32-bln capital
Indonesian President Joko Widodo known as Jokowi, broke ground on November 1 for construction on vital projects in the new capital city, Nusantara. Designed to alleviate Jakarta's congestion, the USD2.6 billion budget allocated for 2024 has struggled to attract private investments. During Jokowi's visit, he launched USD784 million worth of projects, including The 347-hectare (857-acre) airport is expected to be fully operational by December 2024, at a total cost of USD263 million, a 57-km toll road to Balikpapan, and an international hospital expected in the second half of 2024. Local and international investors, such as Adaro, Barito Pacific, Astra International, and Agung Sedayu Grup, have invested roughly USD1.25 billion in Nusantara. President Jokowi pledged to initiate nine more projects in December, aiming to boost economic growth and competitiveness in Indonesia's new capital, Nusantara.
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Absolute Share Price Performance, as of 27 October 2023 | |
| Closing Share Price | 3 November 2023 | 27 October 2023 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.25 | 1.26 | -0.4% | | Event Hospitality & Entertainment Ltd | 10.85 | 10.16 | 6.8% | | General Property Group | 3.89 | 3.60 | 8.1% | | Mirvac Group | 1.95 | 1.88 | 3.7% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 46.00 | 45.00 | 2.2% | | Dusit Thani Public Co Ltd | 8.00 | 7.55 | 6.0% | | The Erawan Group Public Co Ltd | 5.15 | 5.15 | 0.0% | | Grande Asset Hotels & Property Public Co Ltd | 0.17 | 0.18 | -5.6% | | Laguna Resorts & Hotel Public Co Ltd | 36.25 | 35.25 | 2.8% | | Minor International Public Co Ltd | 29.25 | 28.25 | 3.5% | | S Hotels and Resorts Public Company Limited | 2.52 | 2.42 | 4.1% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 7.72 | 7.88 | -2.0% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.97 | 4.02 | -1.2% | | Guangzhou Lingnan Group Holdings Company Limited | 8.50 | 8.50 | 0.0% | | |
| Huazhu Group Limited | 36.77 | 37.45 | -1.8.% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 9.90 | 9.80 | 1.0% | | Regal Hotels International Holdings Ltd | 2.64 | 2.71 | -2.6% | | Sino Hotels Holdings Ltd | 1.72 | 1.65 | 4.2% | | The Hong Kong & Shanghai Hotels Ltd | 6.14 | 6.03 | 1.8% | | Shangri-La Asia Limited | 5.20 | 5.07 | 2.6% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 581.10 | 560.95 | 3.6% | | IHCL (Taj Hotels, Resorts & Palaces) | 392.90 | 374.50 | 4.9% | | EIH (Oberoi Hotels & Resorts) | 222.60 | 211.50 | 5.2% | | Hotel Leela Ventures | 23.15 | 21.35 | 8.4% | | Lemon Tree Hotels Ltd | 108.95 | 112.30 | -3.0% | | SAMHI Hotels Limited | 150.35 | 0 | 0.0% | | |
| The Shilla | 65,000 | 68,500 | -5.1% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.46 | 0.43
| 5.8% | | ARA Htrust (US$) | 0.25 | 0.24 | 4.3% | | Ascott Residence Trust | 0.93 | 0.93 | 0.0% | | Banyan Tree Holdings Limited | 0.39 | 0.39 | 0.0% | | CDL Hospitality Trusts | 1.00 | 0.96 | 4.2% | | Far East Hospitality Trust | 0.60 | 0.59 | 2.6% | | Frasers Hospitality Trust | 0.52 | 0.51 | 3.0% | | Hotel Grand Central Ltd | 0.79 | 0.80 | -0.6% | | Hotel Properties Ltd | 3.69 | 3.84 | -3.9% | | Mandarin Oriental International Ltd (US$) | 1.59 | 1.48 | 7.4% | | Stamford Land Corporation Ltd | 0.37 | 0.37 | 0.0% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 209.50 | 196.00 | 6.9% | | The Ambassador Hotel, Ltd | 48.50 | 47.25 | 2.6% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 67,900 | 70,200 | -3.3% | | Imperial Hotel, Ltd | 917 | 898 | 2.1% | | Red Planet Japan Inc | 19 | 18 | 5.6% | | |
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