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HVS Monday Musings: The Road to Net-zero in the Indian Hotel Industry
By Mandeep S Lamba and Dipti Mohan
Despite increased efforts, the Indian hotel industry's sustainability initiatives are still limited to hotel operations. Hotels are often criticized for their conspicuous consumption and a concerted effort to reduce consumption and waste across the board is now needed. Read on to know more.
To view and download the full article, please click here.
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Thailand-based Boutique Corporation Public Company Limited to Sell Oakwood Studios Sukhumvit, Bangkok
Thailand-based Boutique Corporation Public Company Limited (“Boutique Corporation”) has agreed to dispose of investment in Oakwood Studios Sukhumvit, Bangkok to Singapore-based Legend Land Bangkok Pte. Ltd for approximately THB575,000,000 worth of shares. The 177-Key Oakwood Studios is centrally located in Bangkok’s Klongton sub-district, within a 15-minute drive to Terminal 21 shopping mall and Soi Cowboy. Each of the 177 rooms comes with fully equipped kitchens to cater to any length of stay. Additionally, Oakwood Studios Sukhumvit consists of an All-Day-Dining Restaurant, an outdoor Pool with a bar, co-working spaces, and a fitness center.
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Atlan to Acquire Hotel in the UK for MYR57.5 Million
Malaysia-based Atlan Holdings Bnd (“AHB”) is acquiring The Cornwall Hotel Spa & Estate (“TCHSE”) for MYR57.5 million and the asset management company, Belle Isle Hotels (Cornwall) Management Ltd (“BIHM”) for MYR1.33 million. Located in St Austell, the 65-key property has been managed by BIHM since 2014. AHB will take over all BIHM existing assets and liabilities to minimise disruption of hotel operations. The purchase of both the property and the management firm will be funded through internally generated funds, and/or borrowings. AHB believes that diversifying into the UK and generating revenue from the foreign-based assets will benefit the group over the long run.
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Australia-based La Vie Hotels and Resorts Enters into Strategic Partnership with Small Luxury Hotels of the World
Australia-based La Vie Hotels and Resorts (“La Vie”) has signed a strategic brand and distribution partnership with Small Luxury Hotels of the World (“SLH”). The strategic partnership will see several of La Vie’s Upper-Upscale and Independent Hotels join the exclusive collection. The first of which, The Islington Hobart (“IHT”), one of Tasmania’s first boutique luxury hotels. The 11-key IHT will benefit from SLH’s global distribution network of high-end luxury holiday seekers who are looking for bespoke and highly curated travel experiences. In addition to the latter, a soon-to-be announced hotel in the city of Surry Hills, New South Wales is also set to join the network later this year. Shellia Chang, Group Director of Sales & Distribution for La Vie believes “this strategic partnership with SLH enhances the distribution landscape in driving commercial performance across our expanding global portfolio of boutique hotels”. More of La Vie’s portfolio is said to join the SLH network over the coming months.
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Hong Kong 2022 Policy Address Laid Down Plans and Fundings to Increase the City’s Competitiveness
Hong Kong’s Chief Executive Mr John Lee has announced a series of key plans to boost economic growth and development of Hong Kong. Six major infrastructure projects including three railway projects: Hong Kong -Shenzhen Western Rail Link, Central Rail Link, and Tseung Kwan O Line Southern Extension will be implemented. HKD600 million will be set aside by the government for a three-year Cultural and Heritage Sites Local Tour Incentive Scheme, and new round of ‘Spend-to-Redeem’ program that will subsidise local tours and staycation package will be also re-organised. New work visa will be also set-up for high-earning individuals and HKD30 billion would go into a ‘Co-Investment Fund’ to attract enterprises to set-up operations in Hong Kong.
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Absolute Share Price Performance, as of 28 October 2022 | |
| Closing Share Price | 28 October 2022 | 21 October 2022 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 1.67 | 1.64 | 1.8%
| | Event Hospitality & Entertainment Ltd | 14.52 | 14.12 | 2.8%
| | General Property Group | 4.22 | 3.95 | 6.8%
| | Mirvac Group | 2.00 | 1.92 | 4.4%
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| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 51.75 | 50.00 | 3.5%
| | Dusit Thani Public Co Ltd | 11.60 | 11.70 | -0.9%
| | The Erawan Group Public Co Ltd | 4.48 | 4.44 | 0.9%
| | Grande Asset Hotels & Property Public Co Ltd | 0.22 | 0.22 | 0.0%
| | Laguna Resorts & Hotel Public Co Ltd | 31.50 | 31.50 | 0.0%
| | Minor International Public Co Ltd | 28.50 | 26.75 | 6.5%
| | S Hotels and Resorts Public Company Limited | 3.54 | 3.36 | 5.4%
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| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 8.45 | 7.40 | 14.2%
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| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 4.05 | 4.06 | -0.2%
| | Guangzhou Lingnan Group Holdings Company Limited | 8.85 | 8.63 | 2.5%
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| Huazhu Group Limited | 27.90 | 30.20 | -7.6%
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| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 11.04 | 11.32 | -2.5%
| | Regal Hotels International Holdings Ltd | 2.48 | 2.52 | -1.6%
| | Sino Hotels Holdings Ltd | 1.79 | 1.79 | 0.0%
| | The Hong Kong & Shanghai Hotels Ltd | 6.22 | 6.45 | -3.6%
| | Shangri-La Asia Limited | 4.39 | 4.49 | -2.2%
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| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 362.70 | 386.60 | -6.2%
| | IHCL (Taj Hotels, Resorts & Palaces) | 322.25 | 313.60 | 2.8%
| | EIH (Oberoi Hotels & Resorts) | 189.00 | 190.20 | -0.6%
| | Hotel Leela Ventures | 9.80 | 9.60 | 2.1%
| | Lemon Tree Hotels Ltd | 83.05 | 83.80 | -0.9%
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| The Shilla | 71,300 | 72,500 | -1.7%
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| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.34 | 0.34 | 0.0%
| | ARA Htrust (US$) | 0.37 | 0.35 | 5.7%
| | Ascott Residence Trust | 0.94 | 0.88 | 7.4%
| | Banyan Tree Holdings Limited | 0.28 | 0.28 | 0.0%
| | CDL Hospitality Trusts | 1.12 | 1.02 | 9.8%
| | Eagle Htrust | 0.14 | 0.14 | na
| | Far East Hospitality Trust | 0.58 | 0.54 | 8.4%
| | Frasers Hospitality Trust | 0.44 | 0.43 | 2.3%
| | Hotel Grand Central Ltd | 0.90 | 0.90 | 0.0%
| | Hotel Properties Ltd | 3.39 | 3.40 | -0.3%
| | Mandarin Oriental International Ltd (US$) | 1.64 | 1.79 | -8.4%
| | Stamford Land Corporation Ltd | 0.37 | 0.38 | -1.3%
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| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 173.50 | 181.50 | -4.4%
| | The Ambassador Hotel, Ltd | 31.20 | 30.65 | 1.8%
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| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 76,800 | 75,200 | 2.1%
| | Imperial Hotel, Ltd | 1,945 | 1,934 | 0.6%
| | Red Planet Japan Inc | 50 | 50 | 0.0%
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