Asia Pacific Hospitality Newsletter - Week Ending 13 January 2023

HVS Monday Musings: Understanding Hospitality REIT

Hotel REITs or InvITs could be a game-changer for the Indian hospitality industry. Read on to know more.

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Tabet Group has Acquired Melbourne’s The Lyall Hotel and Spa for AUD30.5 Million

Australia-based Tabet Group (“TG”) has acquired the South Yarra boutique hotel, The Lyall Hotel and Spa (“TLHS”) for AUD30.5 million. TLHS was previously owned by Australian Hoteliers Rowina and Peter Thomas. The 48-key luxury hotel will be going through extensive renovation and expansion after 20 years of operations. TG plans to reopen TLHS in early 2023 under the management of The Royce. The 94-key The Royce Hotel that was previously purchased by TG in 2017 for AUD55 million, is currently also under renovation, and slated to be re-opened this year.

Salter Brothers to Acquire Spicers Retreats Portfolio

Australia-based Salter Brothers Asset Management Pty Limited has confirmed its acquisition of Spicers Retreats for an undisclosed sum. The deal comprises of the Spicers Brand, six out of ten of its freehold assets across New South Wales and Queensland, as well as the management rights for the remaining four properties. The acquired portfolio amounts to a total of 127 rooms. All retreats are within a two-hour drive from Sydney or Brisbane. The acquisition is expected to be completed by the end of quarter one in 2023.

Hong Kong Visitors to Macau Set to Receive Complimentary Ferry and Bus Tickets

Visitors from Hong Kong who spend a night in Macau will be able to receive complimentary return ferry and bus tickets from the local tourism bureau. The “Rewarding You to Visit Macau” initiative is set in the hopes to lure Hong Kong tourist back, as prior to COVID the city was the second most important source market for the gaming hub. Hong Kong residents traveling through Cotai Water Jet, TurboJET and the Hong Kong-Macau Express will be able to enjoy the complimentary return ticket offer. The offer is slated to run till the end of March, and many more public transport operators are expected to join the initiative. Currently, there are no COVID-19 requirements travelers must adhere to when entering both Hong Kong or Macau.

Tennis Pro Rafael Nadal Launches Lifestyle Hotel Brand with Melia Hotels International

Spain-based Melia Hotels International S.A. (“Melia”) has entered a strategic partnership with Spanish tennis player Rafael Nadal to introduce a new lifestyle hotel brand, ZEL. Over the next five years, ZEL is slated to have a footprint of over 20 hotels, with its first property in Mallorca, Spain in 2023. Future properties will be located in Europe, the Middle East, Asia and Americas with a key-focus on destinations that attract premium-quality leisure travelers. The ZEL brand will be a key ambassador to Mediterranean values and lifestyle, with a passion for the outdoors, decadent cuisine, architecture and design while being deeply rooted with nature.

Absolute Share Price Performance, as of 13 January 2023

Closing Share Price

13 January 2023

06 January 2023

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group	1.62	1.62	0.3%
Event Hospitality & Entertainment Ltd	13.60	13.08	4.0%
General Property Group	4.42	4.30	2.8%
Mirvac Group	2.22	2.17	2.3%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd	51.00	52.00	-1.9%
Dusit Thani Public Co Ltd	11.80	11.70	0.9%
The Erawan Group Public Co Ltd	4.48	4.60	-2.6%
Grande Asset Hotels & Property Public Co Ltd	0.23	0.23	0.0%
Laguna Resorts & Hotel Public Co Ltd	33.75	36.25	-6.9%
Minor International Public Co Ltd	34.00	33.50	1.5%
S Hotels and Resorts Public Company Limited	4.24	4.28	-0.9%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

10.12

10.62

-4.7%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.	5.48	5.86	-6.5%
Guangzhou Lingnan Group Holdings Company Limited	11.05	11.49	-3.8%

NASDAQ (US$)

Huazhu Group Limited

47.59

43.69

8.9%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd	12.38	12.60	-1.7%
Regal Hotels International Holdings Ltd	3.24	3.20	1.3%
Sino Hotels Holdings Ltd	2.16	2.00	8.0%
The Hong Kong & Shanghai Hotels Ltd	8.48	8.19	3.5%
Shangri-La Asia Limited	6.53	6.79	-3.8%

National Stock Exchange (INR)

Chalet Hotels Ltd	337.10	335.85	0.4%
IHCL (Taj Hotels, Resorts & Palaces)	309.35	311.55	-0.7%
EIH (Oberoi Hotels & Resorts)	174.85	178.00	-1.8%
Hotel Leela Ventures	11.05	11.90	-7.1%
Lemon Tree Hotels Ltd	79.65	78.25	1.8%

Korea Exchange (KRW)

The Shilla

82,500

85,400

-3.4%

Singapore Stock Exchange (S$)

Amara Holdings Ltd	0.33	0.33	0.0%
ARA Htrust (US$)	0.36	0.36	0.0%
Ascott Residence Trust	1.07	1.04	2.9%
Banyan Tree Holdings Limited	0.35	0.35	1.4%
CDL Hospitality Trusts	1.27	1.26	0.8%
Eagle Htrust	0.14	0.14	na
Far East Hospitality Trust	0.64	0.63	0.8%
Frasers Hospitality Trust	0.46	0.45	1.1%
Hotel Grand Central Ltd	0.90	0.89	0.6%
Hotel Properties Ltd	3.55	3.58	-0.8%
Mandarin Oriental International Ltd (US$)	1.93	1.89	2.1%
Stamford Land Corporation Ltd	0.38	0.37	1.4%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation	250.50	235.50	6.4%
The Ambassador Hotel, Ltd	32.25	32.60	-1.1%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.	80,200	76,300	5.1%
Imperial Hotel, Ltd	1,899	1,915	-0.8%
Red Planet Japan Inc	46	46	0.0%

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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