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HVS Monday Musings: Mumbai's Hotel Market Revival
By Mandeep S Lamba and Dipti Mohan
Recovery in Mumbai's hotel industry is finally underway.
Read on to know more.
To view and download the full article, please click here.
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Mitsui & Co. Digital Asset Management Acquired The Royal Park Hotel Iconic Tokyo Shiodome
Japan-based Mitsui & Co. Digital Asset Management (“MDM”) and Japan-based Japan Hotel REIT Advisors Co., Ltd. have acquired The Royal Park Hotel Iconic Tokyo Shiodome at an undisclosed sum. Located next to the Shimbashi Station and Shiodome Station, the 490-key property is part of the mixed-use development Shiodome Tower with a gross floor area of 25,717.77 square metres. The property features four food and beverage outlets, five meeting rooms, a banquet hall, a laundromat, and a spa and fitness centre. This acquisition is part of MDM’s ambition to tokenise over JPY100 billion in assets and distribute them as digital securities.
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Horan Group plans to develop a 233-key hotel in Surfers Paradise
Australia-based Horan Group has submitted plans to Gold Coast City Council to develop a 16-storey, 233-key hotel at 9-17 Cypress Avenue, Surfers Paradise. Situated near the Cypress Avenue light rail station, the 2,409 square metres site is in a predominantly hotel precinct which includes the 332-key Meriton Suites Surfers Paradise, 166-key BreakFree Imperial Surf Surfers Paradise, and 76-key Mantra Crown Towers Surfers Paradise. The proposed hotel will feature a recreational 20m pool, a fitness centre, a rooftop bar, four separate function spaces on level 4 and level 15, retail spaces on the ground, and 98 car parking spaces.
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Asset World Corporation and Accor Group has Signed Strategic Multiple-Property Framework Agreement
France-based Accor Group (“AG”) and Thailand-based conglomerate Asset World Corporation (“AWC”) has signed its first multiple-property framework agreement on 9 December 2022. AG and AWC will strategically develop more than a thousand room keys across the country’s key tourism destinations. As part of the agreement, all developments will be branded with Accor’s various lifetstyle and luxury brands. AG currently operates 83 hotels under 11 brands within Thailand, AG currently has a pipeline of 20 hotels in Thailand.
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Japanese developer Daiwa House Industry to sell Resort Unit to Godo Kaisha Ebisu Resorts for JPY55.6 billion
Japan-based developer Daiwa House Industry has sold its subsidiary Daiwa Resort Co.,Ltd. (its hotel-business unit) to Godo Kaisha Ebisu Resorts for JPY55.6 billion, which sees approximately 112 million shares being transferred over. Daiwa Resort Co.,Ltd operated 24 hotels and resorts across Japan. Reasons for sale was due to the prolonged negative effects of the pandemic and ageing hotel buildings, which have led to sub-par hotel operating ratios and poor year-to-date performances compared to pre-pandemic levels. In conclusion, the sale of its hotel-business unit is in alignment with Daiwa House Industry’s sustainable growth model of achieving both profit growth and improved capital efficiency.
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Absolute Share Price Performance, as of 16 December 2022 | |
| Closing Share Price | 16 December 2022 | 09 December 2022 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.66 | 1.67 | -0.9%
| | Event Hospitality & Entertainment Ltd | 12.84 | 13.11 | -2.1%
| | General Property Group | 4.36 | 4.34 | 0.5%
| | Mirvac Group | 2.22 | 2.20 | 0.9%
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| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 48.50 | 48.00 | 1.0%
| | Dusit Thani Public Co Ltd | 10.90 | 11.20 | -2.7%
| | The Erawan Group Public Co Ltd | 4.48 | 4.46 | 0.4%
| | Grande Asset Hotels & Property Public Co Ltd | 0.23 | 0.22 | 4.5%
| | Laguna Resorts & Hotel Public Co Ltd | 33.00 | 32.50 | 1.5%
| | Minor International Public Co Ltd | 31.75 | 30.75 | 3.3%
| | S Hotels and Resorts Public Company Limited | 3.96 | 3.96 | 0.0%
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| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 10.40 | 9.99 | 4.1%
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| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 5.68 | 5.38 | 5.6%
| | Guangzhou Lingnan Group Holdings Company Limited | 13.06 | 11.18 | 16.8%
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| Huazhu Group Limited | 42.64 | 42.98 | -0.8%
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| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 12.00 | 11.84 | 1.4%
| | Regal Hotels International Holdings Ltd | 2.80 | 2.80 | 0.0%
| | Sino Hotels Holdings Ltd | 1.80 | 1.76 | 2.3%
| | The Hong Kong & Shanghai Hotels Ltd | 7.99 | 7.68 | 4.0%
| | Shangri-La Asia Limited | 6.00 | 6.11 | -1.8%
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| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 354.55 | 360.30 | -1.6%
| | IHCL (Taj Hotels, Resorts & Palaces) | 327.15 | 330.10 | -0.9%
| | EIH (Oberoi Hotels & Resorts) | 179.35 | 183.35 | -2.2%
| | Hotel Leela Ventures | 14.15 | 13.80 | 2.5%
| | Lemon Tree Hotels Ltd | 85.95 | 92.35 | -6.9%
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| The Shilla | 80,100 | 79,600 | 0.6%
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| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.32 | 0.32 | 0.0%
| | ARA Htrust (US$) | 0.36 | 0.36 | -1.4%
| | Ascott Residence Trust | 1.05 | 0.99 | 6.6%
| | Banyan Tree Holdings Limited | 0.31 | 0.30 | 5.1%
| | CDL Hospitality Trusts | 1.22 | 1.22 | 0.0%
| | Eagle Htrust | 0.14 | 0.14 | na
| | Far East Hospitality Trust | 0.64 | 0.61 | 4.9%
| | Frasers Hospitality Trust | 0.45 | 0.45 | 1.1%
| | Hotel Grand Central Ltd | 0.89 | 0.90 | -1.1%
| | Hotel Properties Ltd | 3.49 | 3.50 | -0.3%
| | Mandarin Oriental International Ltd (US$) | 1.82 | 1.85 | -1.6%
| | Stamford Land Corporation Ltd | 0.36 | 0.35 | 4.3%
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| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 252.50 | 257.50 | -1.9%
| | The Ambassador Hotel, Ltd | 31.05 | 31.20 | -0.5%
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| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 79,700 | 77,500 | 2.8%
| | Imperial Hotel, Ltd | 1,950 | 1,950 | 0.0%
| | Red Planet Japan Inc | 51 | 52 | -1.9%
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