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HVS Monday Musings: Hotel Industry Tapping the Metaverse
By Mandeep S Lamba and Dipti Mohan
Global hotel chains are entering the metaverse because it has the potential to improve the guest experience, boost customer loyalty, streamline operations, and help businesses in forging connections with potential customers. Read on to know more.
To view and download the full article, please click here.
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Pro-invest Group Acquired Larmont Sydney by Lancemore for AUD46.3 Million
Australia-based Pro-invest Group (“PIG”) has acquired the 103-key Larmont Sydney by Lancemore Hotel (“Larmont Sydney”) for AUD46.3 million. The Larmont Sydney comprises of one breakfast restaurant and an option of complimentary 24-hour gym access to the on-site Anytime Fitness. The Larmont Sydney is strategically located within a mixed-use commercial building and is within walking distance to Sydney’s Central Business District and Kings Cross railway station. The property was last traded in 2014, when Singapore-based TEE Land, Singapore-based KENMOORELAND Pte. Ltd, and Australia-based The Lancemore Group has acquired the former 76-key Diament Hotel for AUD23.2 million. The investors have then acquired apartments on levels 11 and 12 of the building for AUD12 million and turned the 24 units into more hotel rooms.
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Atami's Hotel Acao and Hotel Acao Annex Sold to Fortress Investment Group
Shinrakami, an affiliated company of US-based Fortress Investment Group, has recently acquired the former Hotel New Akao, former Royal Wing Hotel and 7% of the landholdings from Japan-based Acao Spa & Resort at an undisclosed sum. Situated in Atami, a famous resort town in Shizuoka Prefecture, the two properties were built into the cliffside below Atami Castle. The 20-storey Hotel New Akao was opened in 1973 and featured a dining hall on the second floor, a karaoke, dance hall, onsen facility, and an ocean facing pool on the first floor. The nearby Royal Wing Hotel also featured onsen, spa facilities and a swimming pool. Together they comprise of 350 guest rooms. Japan-based Mystays Hotel Management Co., Ltd. will be the new management of the two properties.
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BeOnd, New Premium Airline Set-up in Maldives
Maldives-based SIMDI Group and UAE-based ARABESQUE Investment Firm is setting-up a new premium airline BeOnd in Maldives. Set to launch in early 2023, BeOnd’s airlines’ vision is to take people on their journey to the best places on Earth. The Airline will provide non-stop flights from Maldives to up to 60 destinations around the globe including Europe, Asia, Africa and Australia. Initial destinations will comprise of key global destinations such as Dubai, Hong Kong, Milan, Munich, Paris and Singapore. BeOnd airlines will fly the customed Airbus A321neos with a capacity of 68 passengers in fully flat business class seats with a two-by-two seating configuration. The airline will offer premium services such as baggage check-in at home, premium transfers, dedicated lounge, and inflight cuisine.
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NH Hospitality Brand to Debut in Asia
NH Hospitality (“NH”) brand owned by Thailand-based Minor International is set to debut its first ever hotel in Asia by partnering with Thailand-based Boat Lagoon Co.Ltd. The first NH property will be located at the soon to be rebranded Boat Lagoon Resort. Located on the east coast of the island of Phuket, the 271-key property is slated to open by the first quarter of 2023 and will be rebranded to “NH Boat Lagoon Phuket Resort”. With the re-branding, the property will include a mix of guest rooms and serviced apartments, an all-day-dining restaurant, lobby café, swimming pool with a bar, a gym, tennis courts and a kids club. Furthermore, the property will include a marquee of 1,000 square meters, a business centre and on-site parking. The NH brand currently has 330 hotels in 30 countries across Europe and the Americas.
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Absolute Share Price Performance, as of 09 December 2022 | |
| Closing Share Price | 09 December 2022 | 02 December 2022 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.67 | 1.68 | -0.6%
| | Event Hospitality & Entertainment Ltd | 13.11 | 13.74 | -4.6%
| | General Property Group | 4.34 | 4.40 | -1.4%
| | Mirvac Group | 2.20 | 2.24 | -1.8%
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| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 48.00 | 48.50 | -1.0%
| | Dusit Thani Public Co Ltd | 11.20 | 11.00 | 1.8%
| | The Erawan Group Public Co Ltd | 4.46 | 4.48 | -0.4%
| | Grande Asset Hotels & Property Public Co Ltd | 0.22 | 0.22 | 0.0%
| | Laguna Resorts & Hotel Public Co Ltd | 32.50 | 32.25 | 0.8%
| | Minor International Public Co Ltd | 30.75 | 30.75 | 0.0%
| | S Hotels and Resorts Public Company Limited | 3.96 | 4.06 | -2.5%
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| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 9.99 | 9.71 | 2.9%
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| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 5.38 | 5.46 | -1.5%
| | Guangzhou Lingnan Group Holdings Company Limited | 11.18 | 10.48 | 6.7%
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| Huazhu Group Limited | 42.98 | 39.86 | 7.8%
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| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 11.84 | 11.14 | 6.3%
| | Regal Hotels International Holdings Ltd | 2.80 | 2.50 | 12.0%
| | Sino Hotels Holdings Ltd | 1.76 | 1.72 | 2.3%
| | The Hong Kong & Shanghai Hotels Ltd | 7.68 | 6.81 | 12.8%
| | Shangri-La Asia Limited | 6.11 | 5.22 | 17.0%
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| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 360.30 | 368.05 | -2.1%
| | IHCL (Taj Hotels, Resorts & Palaces) | 330.10 | 324.55 | 1.7%
| | EIH (Oberoi Hotels & Resorts) | 183.35 | 175.95 | 4.2%
| | Hotel Leela Ventures | 13.80 | 13.95 | -1.1%
| | Lemon Tree Hotels Ltd | 92.35 | 99.05 | -6.8%
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| The Shilla | 79,600 | 76,000 | 4.7%
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| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.32 | 0.32 | 1.6%
| | ARA Htrust (US$) | 0.36 | 0.38 | -4.0%
| | Ascott Residence Trust | 0.99 | 0.94 | 5.3%
| | Banyan Tree Holdings Limited | 0.30 | 0.28 | 7.3%
| | CDL Hospitality Trusts | 1.22 | 1.20 | 1.7%
| | Eagle Htrust | 0.14 | 0.14 | na
| | Far East Hospitality Trust | 0.61 | 0.61 | 0.8%
| | Frasers Hospitality Trust | 0.45 | 0.45 | 0.0%
| | Hotel Grand Central Ltd | 0.90 | 0.88 | 2.3%
| | Hotel Properties Ltd | 3.50 | 3.50 | 0.0%
| | Mandarin Oriental International Ltd (US$) | 1.85 | 1.75 | 5.7%
| | Stamford Land Corporation Ltd | 0.35 | 0.37 | -6.8%
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| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 257.50 | 260.00 | -1.0%
| | The Ambassador Hotel, Ltd | 31.20 | 31.40 | -0.6%
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| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 77,500 | 74,000 | 4.7%
| | Imperial Hotel, Ltd | 1,950 | 1,945 | 0.3%
| | Red Planet Japan Inc | 52 | 51 | 2.0%
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