|
HVS Monday Musings: The Indian Hotel Sector – 2021 in Review
By Mandeep S Lamba and Dipti Mohan
The Indian hotel sector once again showed resilience in 2021, navigating through uncertainty, adapting to an ever-changing environment, and persevering through the ups and downs on the rocky path to recovery by building on the lessons learned the year before. Read on to know more.
To view and download the full article, please click here.
| |
|
AEW Capital Management Acquired Hong Kong Hotel for HKD1.65 Billion
US-based AEW Capital Management, L.P. and Hong Kong-based Crystal Investment Limited have recently acquired Hotel Sav in Hong Kong from Hong Kong-based Chuang’s Consortium International Ltd for HKD1.65 Billion. Situated at Wuhu Street in Hung Hom area, the 388-key hotel features an indoor lounge, a 24-hour fitness centre, a parking lot, two meeting rooms, as well as 933 square metres retail space on the first two floor. It is believed the new buyer will convert the property into co-living, as the property is located in close proximity to three metro stations, Hong Kong Polytechnic University, and the Intercity Through Train which connects Hong Kong with Guangzhou, Shanghai and Beijing.
| |
|
South Korea’s Lotte Corporation has Acquired Kimpton Hotel Monaco Chicago
South Korea-based LOTTE Corporation (“Lotte”) has been revealed as the purchaser of Kimpton Hotel Monaco Chicago from US-based Xenia Hotels & Resorts, Inc for USD36 million. Situated on the border of the Loop, the 191-key hotel is located at an excellent location with walking distance to the Chicago River and all touristic attractions. The hotel features one restaurant and bar, 380 square metres meeting and event spaces, and a 24-hour fitness centre. The previously unknown buyer, Lotte, has been expanding its presence in the States in recent years, debuted with the 822-key Lotte New York Palace hotel in 2015 and followed up with the 189-key Lotte Hotel Seattle in 2020. It is believed that the property will be rebranded into Lotte’s.
| |
|
Minor International and Abu Dhabi Fund for Development Announce Joint Venture on Five Assets in Thailand
Thailand-based Minor International Public Company (MINT) and UAE-based Abu Dhabi Fund for Development (ADFD) announced a new joint venture agreement to hold shares in four tourist resorts and a plaza mall in Thailand namely: Anantara Riverside Bangkok Resort, Avani+ Riverside Bangkok Hotel, Riverside Plaza Bangkok, Anantara Layan Phuket Resort and Four Seasons Resort Koh Samui. MINT will be holding 60% of the share, while 40% will be from ADFD. The aggregate selling price of the portfolio is USD 104.8 million, implying a 12.5x to 2019 EBITDA on an overall basis. This valuation reflects strong confidence in MINT asset management performance and the future economic projections for Thailand’s tourism sector. The five assets will continue to be operated and managed under the existing brands of MINT. Established in 1971, ADFD is a UAE-linked government entity that has invested in more than 500 projects and companies with more than USD 40 billion in assets.
| |
|
High Speed China-Laos Railway Officially Opened
In early December 2021, Laos inaugurated the Boten-Vientiane railway, a 414-kilometer high-speed railway that runs between the capital Vientiane and the town of Boten on the Laos-China border. The new railway holds the possibility of transforming Laos, a landlocked country and one of the least industrialized in ASEAN, into a land-linked hub that connects to the broader region. This USD6 billion project is equivalent to one-third of Laos’s GDP and is funded by China as part of its Belt and Road Initiative (BRI). It is a linchpin of the deepening ties between the two countries. Traveling to the Chinese border will now take less than four hours compared to the 15 hours by car and costs USD 33 for a second-class seat. Currently, most China-ASEAN trade, worth more than USD600 billion in 2020, relies mainly on coastline routes, with the Laos-China trade representing merely two percent of the total China-ASEAN trade. According to a World Bank report, transit trade through Laos could increase to 3.9 million tons by 2030 from the 1.6 million tons reported in 2016.
| |
| Closing Share Price | 7 January 2022 | 31 December 2021 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 2.25 | 2.26 | -0.4% | | Event Hospitality & Entertainment Ltd | 14.18 | 14.78 | -4.1% | | General Property Group | 5.43 | 5.42 | 0.2% | | Mirvac Group | 2.87 | 2.91 | -1.4% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 30.50 | 31.25 | -2.4% | | Dusit Thani Public Co Ltd | 9.45 | 10.10 | -6.4% | | The Erawan Group Public Co Ltd | 2.92 | 3.00 | -2.7% | | Grande Asset Hotels & Property Public Co Ltd | 0.61 | 0.57 | 7.0% | | Laguna Resorts & Hotels Public Co Ltd | 31.00 | 31.25 | -0.8% | | Minor International Public Co Ltd | 28.75 | 28.75 | 0.0% | | S Hotels and Resorts Public Company Limited | 3.06 | 3.00 | 2.0% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 5.85 | 5.72 | 2.3% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 3.19 | 3.15 | 1.3% | | Guangzhou Lingnan Group Holdings Company Limited | 7.44 | 7.45 | -0.1% | | |
| Huazhu Group Limited__ | 36.77 | 37.34 | -1.5% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 12.76 | 12.80 | -0.3% | | Regal Hotels International Holdings Ltd | 3.07 | 3.12 | -1.6% | | Sino Hotels Holdings Ltd | 2.29 | 2.29 | 0.0% | | The Hong Kong & Shanghai Hotels Ltd | 6.63 | 6.85 | -3.2% | | Shangri-La Asia Limited | 6.31 | 6.50 | -2.9% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd____ | 222.75 | 215.80 | 3.2% | | IHCL (Taj Hotels, Resorts & Palaces) | 186.35 | 180.75 | 3.1% | | EIH (Oberoi Hotels & Resorts) | 127.95 | 124.50 | 2.8% | | Hotel Leela Ventures_ | 10.45 | 9.85 | 6.1% | | Lemon Tree Hotels Ltd__ | 47.80 | 46.60 | 2.6% | | |
| The Shilla__ | 77300 | 78000 | -0.9% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd__ | 0.37 | 0.36 | 2.8% | | ARA Htrust (US$)__ | 0.51 | 0.50 | 1.0% | | Ascott Residence Trust__ | 1.04 | 1.03 | 1.0% | | Banyan Tree Holdings Limited | 0.32 | 0.32 | 0.0% | | CDL Hospitality Trusts__ | 1.16 | 1.17 | -0.9% | | Eagle Htrust___ | Temporary closure | Temporary closure | 0.0%
| | Far East Hospitality Trust | 0.60 | 0.59 | 2.6% | | Frasers Hospitality Trust | 0.47 | 0.47 | 1.1% | | Hotel Grand Central Ltd | 1.02 | 1.04 | -1.9% | | Hotel Properties Ltd_ | 3.34 | 3.33 | 0.3% | | Mandarin Oriental International Ltd (US$) | 2.21 | 2.24 | -1.3% | | Stamford Land Corporation Ltd | 0.36 | 0.37 | -2.7% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 145.50 | 151.00 | -3.6% | | The Ambassador Hotel, Ltd | 31.20 | 30.90 | 1.0% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 55000 | 56200 | -2.1% | | Imperial Hotel, Ltd___ | 1837 | 1858 | -1.1% | | Red Planet Japan Inc__ | 38 | 40 | -5.0% | | |
Superior Results through Unrivaled Hospitality Intelligence. Everywhere.
| |
|
Stay current. Click here to receive free HVS newsletters
Looking for insights into the hospitality industry?
Discover unique hospitality intelligence at hvs.com/publications
Interested in a particular market?
Find hundreds of market overviews, all written by HVS experts, at hvs.com/marketreviews
Like to be in the know on hotel trends and predictions?
See our Hotel Valuation Index for dozens of cities at hvi.hvs.com
HVS.com
| |
|
Copyrights © 2021 All Rights Reserved by HVS
Privacy Policy
Sent By: HVS Asia Pacific
If you would like to change your preferred email format, change your subscribed email address, or have any comments or suggestions, please contact us at: hvs@hvs.com.
| | | | |
