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HVS ANAROCK Hotels & Hospitality Overview August 2024
By Akash Datta, Dipti Mohan, and Dhwani Gupta
This is a monthly industry update that highlights the key trends in the Indian hospitality industry.
To view and download the full article, please click here.
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Atelier Capital Partners Singapore Acquires Capri by Fraser, Changi City for SGD170 Million in Singapore
Atelier Capital Partners Singapore (“ACP”), a joint venture consortium between the Singapore-based Fortez Capital and Hong Kong-based Atelier Capital Partners, has partnered with US-based TPG Angelo Gordon, Singapore-based Heeton Holdings and Dorsett Hospitality International (“DHI”), a subsidiary of Hong Kong-based Far East Consortium International, to acquire Capri by Fraser, Changi City in Singapore from Singapore-based Frasers Property. While ACP did not disclose the transaction price, market sources indicated a transaction price of SGD170 million, which translates to approximately SGD543,131 per key. The 313-key hotel is a 12-story building located within Changi Business Park and sits on a 60-year leasehold site, with a balance lease term of about 45 years. Opened in 2012, the property is part of an integrated development and offers facilities such as swimming pool, sauna and meeting space. Upon acquisition, DHI will operate and rebrand the hotel to Dorsett Changi City Singapore.
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TriO Capital Acquires Hilton Garden Inn Phuket Bang Tao in Thailand
TriO Capital, the investment arm of Hong-Kong based Ovolo Group, has acquired 177-key Hilton Garden Inn Phuket Bang Tao for an undisclosed sum, marking its first foray into Thailand. The recently constructed hotel, which will remain under Hilton’s franchise agreement, is set to undergo an extensive design and development program to further enhance the asset. Some strategic initiatives may include the introduction of premium room categories, wellness facilities, an activated rooftop, and an overhauled food and beverage programme. Situated on Phuket’s northwest coast and on the fringe of the Laguna integrated resort complex, the property features two food and beverage outlets, a fitness centre, a business centre, and two rooftop swimming pools.
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Takara Leben Acquires Three Hotels in Japan for JPY15.25 Billion
Japan-based REIT Takara Leben Real Estate Investment Corporation (“Takara Leben”) has acquired two hotels in Tokyo and one hotel in Hokkaido for a total sum of JPY15.25 billion. The two Tokyo-based hotels that were acquired are the 113-key Hotel Livemax Shinjuku Kabukicho Meijidori that was bought for JPY3.4 billion, and the 220-key APA Hotel Kamataeki-Higashi for JPY6.5 billion. The Sapporo-based hotel is the 167-key Quintessa Hotel Sapporo that was acquired for JPY5.35 billion. The acquisition will bring Takara Leben’s portfolio from three hotels with 482 rooms to six hotels with 982 rooms in Japan.
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ITC Properties Sells 50% Ownership of Bayshore Ventures JV Ltd
Rank Ace Investments Limited, the subsidiary of Hong-Kong based ITC Properties Group Limited (“ITC Properties”) has announced the sale of 50% equity stake in Bayshore Ventures JV Ltd. (“Bayshore Ventures”) to Hong Kong-based Caufield Investments Limited for CAD18.5 million. The main asset that Bayshore Ventures possesses is the 499-key Westin Bayshore, situated at Vancouver, British Columbia, Canada. Completed in 1961, the Property consists of a nine-storey main building, a separate 18-storey tower with guest rooms, three food and beverage outlets, two swimming pools, a spa and fitness centre, and an event spaces that spans over 6,372 sqm.
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Absolute Share Price Performance, as of 6 September 2024 | |
| Closing Share Price | 6 September 2024 | 30 August 2024 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 0.85 | 0.85 | 0.0% | | Event Hospitality & Entertainment Ltd | 9.98 | 10.62 | -6.0% | | General Property Group | 5.04 | 4.94 | 2.0% | | Mirvac Group | 2.13 | 2.03 | 4.9% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 37.25 | 34.75 | 7.2% | | Dusit Thani Public Co Ltd | 11.60 | 11.00 | 5.5% | | The Erawan Group Public Co Ltd | 3.96 | 3.78 | 4.8% | | Grande Asset Hotels & Property Public Co Ltd | 0.09 | 0.09 | 0.0% | | Laguna Resorts & Hotel Public Co Ltd | 38.00 | 39.00 | -2.6% | | Minor International Public Co Ltd | 28.25 | 27.25 | 3.7% | | S Hotels and Resorts Public Company Limited | 2.10 | 2.04 | 2.9% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 6.23 | 6.30 | -1.1% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.02 | 2.87 | 5.2% | | Guangzhou Lingnan Group Holdings Company Limited | 8.69 | 8.20 | 6.0% | | |
| Huazhu Group Limited | 29.77 | 30.90 | -3.7% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 9.38 | 9.50 | -1.3% | | Regal Hotels International Holdings Ltd | 2.56 | 2.72 | -5.9% | | Sino Hotels Holdings Ltd | 1.48 | 1.30 | 13.8% | | The Hong Kong & Shanghai Hotels Ltd | 5.15 | 5.10 | 1.0% | | Shangri-La Asia Limited | 4.68 | 4.78 | -2.1% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 900.00 | 856.00 | 5.1% | | IHCL (Taj Hotels, Resorts & Palaces) | 669.80 | 650.10 | 3.0% | | EIH (Oberoi Hotels & Resorts) | 396.00 | 383.70 | 3.2% | | Hotel Leela Ventures | 20.71 | 21.40 | -3.2% | | Lemon Tree Hotels Ltd | 131.15 | 135.35 | -3.1% | | Mahindra Holiday & Resorts | 436.00 | 407.00 | 7.1% | | Royal Orchid Hotels | 365.80 | 377.40 | -3.1% | | SAMHI Hotels Limited | 218.30 | 207.90 | 5.0% | | |
| The Shilla | 44800.00 | 47550.00 | -5.8% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.57 | 0.56 | 0.9% | | ARA Htrust (US$) | 0.24 | 0.23 | 4.3% | | Ascott Residence Trust | 0.93 | 0.91 | 2.2% | | Banyan Tree Holdings Limited | 0.33 | 0.34 | -1.5% | | CDL Hospitality Trusts | 0.93 | 0.94 | -0.5% | | Far East Hospitality Trust | 0.64 | 0.64 | 0.0% | | Frasers Hospitality Trust | 0.44 | 0.44 | 0.0% | | Hotel Grand Central Ltd | 0.73 | 0.72 | 1.4% | | Hotel Properties Ltd | 3.57 | 3.54 | 0.8% | | Mandarin Oriental International Ltd (US$) | 1.63 | 1.60 | 1.9% | | Stamford Land Corporation Ltd | 0.38 | 0.38 | 0.0% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 198.00 | 206.00 | -3.9% | | The Ambassador Hotel, Ltd | 56.10 | 60.70 | -7.6% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 70000.00 | 75000.00 | -6.7% | | Imperial Hotel, Ltd | 921.00 | 950.00 | -3.1% | | Red Planet Japan Inc | 1011.00 | 1309.00 | -22.8% | | |
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