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Vision Hotels Sold Tasmania’s Scamander Beach Resort

Australia-based Vision Hotels has announced the sale and settlement of the Scamander Beach Resort at an undisclosed sum. Situated in Scamander, the property is just next to Steels Beach and Scamander River. The 60-key property features one food and beverage outlet with more than 150 seats and a liquor store.

Mitsubishi Estate sells stakes in Tokyo Commercial Building for almost JPY24 Billion

Japan-based Mitsubishi Estate Co., Ltd (“MECL”) is selling a 50% stake of the newly constructed ARGYLE Aoyama (“AA”) to Japan Real Estate Asset Management Co., Ltd (“JRE-AM”), an investing arm of Japan Real Estate Investment Corporation (“JRE”) for JPY23.9 Billion. The 20-storey AA sits on a 22,010 square metre plot located in the fashion-centric Minato Ward and consists of office, co-working, a hotel, and retail spaces. The 42-key Aoyama Grand Hotel is currently operated by Japan-based hospitality firm Plan Do See Inc and consists of four restaurants, rooftop bar and a fitness center. The AA which was completed in 2020, sits on the corner of Gaien Nishi-dori Avenue and Aoyama-dori Avenue in Minato ward’s Aoyama upscale neighborhood.

Tokyu Land Invest in Three Thai Franchised Hotels amidst Tourism Recovery

Japan-based Tokyu Land Corporation (“TL”) is investing in hotels located in Thailand through the company’s Singapore arm, investing in a trio of Ibis-branded franchised hotels as tourist returns. TL will acquire ownership interests from Thailand-based developer Origin Property Company Ltd. (“OPCL”) of three properties located in Phuket, Krabi and Hua Hin. OPCL will enter the partnership through their subsidiary, One Origin Company Ltd (“OOC”) which together with Tokyu Land will form a new entity with a registered capital of THB281 million. OOC will hold a 51% share while the remaining 49% will be held by Tokyu Land’s Singaporean investing arm. The 258-key Ibis Phuket Kata, which is the largest of the trio sits on a 5,700 square metre site and consists of one restaurant and bar, swimming pool and three meeting rooms. The 206-key Ibis Styles Krabi sits on a 5,700 square metre site and consists of one restaurant and bar, two swimming pools and two meeting rooms. Lastly the smallest of the trio, the 200-key Ibis Hua Hin which sits on a 3,400 square metre site and consists of one restaurant and bar, swimming pool and two meeting rooms.

Frasers Residence Singapore Rebranded as Coliwoo Orchard

Frasers Residence Singapore has recently rebranded as Coliwoo Orchard, marking the eighth property of the Singapore-based LHN Group launched in Singapore. Situated at 2 Mount Elizabeth Link near Orchard and Somerset MRT stations, the 411-key property is within walking distance of the Mount Elizabeth Hospital. The 22-storey property features shared facilities such as a swimming pool, separate children’s pool, a jacuzzi, a co-working lounge, a gymnasium, and a BBQ pit. All rooms are equipped with a kitchenette, washer, and dryer machine, and en-suite bathroom. LHN Group has secured a three-year lease agreement with Eastern Realty, a wholly owned subsidiary of the Singapore-based Oversea-Chinese Banking Corporation, Limited

Malaysia’s Subang Airport is set to be Redeveloped as an Aviation Hub

Malaysia’s Subang Airport is set to be redeveloped into a premium city airport and aviation hub after the Cabinet approved of plans for its rejuvenation last week. The redevelopment plan, which is part of the new Subang Airport Rejuvenation Plan (“SARP”), will focus on seven areas, including the introduction of commercial jet passenger flights for general aviation, business aviation, urban air mobility, as well as regional commercial flight operations among others. The end goal is to turn the Subang Airport into a regional aviation hub with a maximum capacity of eight million annual passengers. The completion of this project will create thousands of high-value jobs in Malaysia.

Absolute Share Price Performance, as of 03 March 2023

Closing Share Price

03 March 2023

24 February 2023

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group

1.68

1.70

-1.5%

Event Hospitality & Entertainment Ltd

12.87

13.42

-4.1%

General Property Group

4.58

4.62

-0.9%

Mirvac Group

2.18

2.25

-3.1%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd

55.00

55.75

-1.3%

Dusit Thani Public Co Ltd

11.70

11.80

-0.8%

The Erawan Group Public Co Ltd

4.92

5.00

-1.6%

Grande Asset Hotels & Property Public Co Ltd

0.22

0.23

-4.3%

Laguna Resorts & Hotel Public Co Ltd

35.50

36.00

-1.4%

Minor International Public Co Ltd

33.25

34.50

-3.6%

S Hotels and Resorts Public Company Limited

4.50

4.60

-2.2%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

10.78

10.42

3.5%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.

5.42

5.10

6.3%

Guangzhou Lingnan Group Holdings Company Limited

11.78

11.75

0.3%

NASDAQ (US$)

Huazhu Group Limited

52.01

47.65

9.2%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd

11.98

11.80

1.5%

Regal Hotels International Holdings Ltd

3.24

3.21

0.9%

Sino Hotels Holdings Ltd

2.28

2.25

1.3%

The Hong Kong & Shanghai Hotels Ltd

8.15

8.15

0.0%

Shangri-La Asia Limited

7.74

7.60

1.8%

National Stock Exchange (INR)

Chalet Hotels Ltd

360.80

363.20

-0.7%

IHCL (Taj Hotels, Resorts & Palaces)

318.05

309.60

2.7%

EIH (Oberoi Hotels & Resorts)

160.55

162.50

-1.2%

Hotel Leela Ventures

10.30

10.30

0.0%

Lemon Tree Hotels Ltd

78.40

73.90

6.1%

Korea Exchange (KRW)

The Shilla

78,000

79,700

-2.1%

Singapore Stock Exchange (S$)

Amara Holdings Ltd

0.33

0.34

-1.5%

ARA Htrust (US$)

0.40

0.41

-3.7%

Ascott Residence Trust

1.02

1.02

0.0%

Banyan Tree Holdings Limited

0.34

0.34

-1.5%

CDL Hospitality Trusts

1.27

1.26

0.8%

Eagle Htrust

0.14

0.14

na

Far East Hospitality Trust

0.62

0.62

0.0%

Frasers Hospitality Trust

0.48

0.48

-1.0%

Hotel Grand Central Ltd

0.90

0.88

1.7%

Hotel Properties Ltd

3.55

3.58

-0.8%

Mandarin Oriental International Ltd (US$)

1.88

1.86

1.1%

Stamford Land Corporation Ltd

0.40

0.40

0.0%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation

309.00

312.50

-1.1%

The Ambassador Hotel, Ltd

36.80

38.40

-4.2%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.

77,500

78,500

-1.3%

Imperial Hotel, Ltd

1,921

1,980

-3.0%

Red Planet Japan Inc

33

34

-2.9%

For the latest in the hospitality industry, please visit: http://www.hvs.com/. You are also welcome to contact the following personnel. 


Hok Yean Chee, Regional President – HVS Asia Pacific hychee@hvs.com


Mandeep S. Lamba, President, South Asia – HVS Anarock mlamba@hvs.com


Mei Leng Ho, Senior Vice President – HVS Singapore mlho@hvs.com


Florian Kittler, Managing Director – HVS Executive Search Europe & Asia Pacific fkittler@hvs.com

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