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HVS Monday Musings: Sustainability in the Hotel Industry is Crucial to Combat Climate Change
By Mandeep S Lamba and Dipti Mohan
As they recover from the COVID crisis, the tourism and hospitality industries, which are not only victims of the climate disaster but also big emitters and contributors to global warming, have the chance to take up climate action to move toward a greener, more sustainable future.
To view and download the full article, please click here.
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Operating Leasehold in Sydney’s Q Station Sold to Local Businessman Glenn Piper
Located at North Head in Manly, Sydney’s iconic hotel Q Station has been sold to northern beaches hotelier Glenn Piper in a deal brokered by Australia-based HTL Property and US-based CBRE Hotels. Piper will take over the operating lease of the property from its current owner Australia-based the Mawland Group, subject to the approval of the National Parks and Wildlife Service (“NPWS”). The 105-key Q Station features multiple F&B outlets, expansive event venues, dining outlets, and a private beach fronting Sydney Harbour. Mawland Directors Suzanne Stanton and Max Player, who previously operated Q Station in 2008 under a lease from the NPWS, stated, “Q Station is ready for a new layer of history, and we are excited to see value added to the property and operation under the care of its new leaseholder, with a continued focus on complying with the needs of the local community, which over the years has taken Q Station to its heart.”
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Carnmore Hotel Christchurch was Sold for NZD 18.4 Million by Bayleys Realty Group
New Zealand-based real estate company, Bayleys Realty Group (“BRG”), announced that Carnmore Hotel Christchurch (“CHC”) was sold for NZD 18.4 million by Wayne Keene and Pau Dixon. CHC, previously known as Cosa Hotel, is the first modular hotel designed in New Zealand. Positioned as an upscale hotel, CHC is ideally located within 300 metres from Te Pae Christchurch Convention and Exhibition Centre. The 88-key property has a total of 5 levels and is equipped with a two bed-room manager’s apartment, staff room with showing facilities, a gym, a café, a fully licensed bar area and conference facilities. CHC was listed as a Freehold Going Concern property by BRG in 2021 and according to the National Director of Hotels, Tourism and Leisure of BRG, Wayne Keene, mentioned that the property was eventually acquired by a Thai investor. CHC was built by Vietnam-based TLC Modular then was shipped to New Zealand for construction, where the modulars were stacked onto and connected above the ground floor.
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Citadines Sukhumvit 23 Bangkok Sold to Thailand-based Bhiraj Buri Group
Thailand-based Boutique Corporation Public Company Limited (“Boutique”) and Singapore-based The Ascott Limited, a wholly owned lodging business of CapitaLand Group, have sold Thailand’s Citadines Sukhumvit 23 to Thailand-based property developer Bhiraj Buri Co., Ltd. (“Bhiraj Buri”) for an undisclosed sum. The 138-key serviced apartment located in the heart of the prime Sukhumvit district of Bangkok is easily accessible from the Asok Skytrain Station and the Sukhumvit Subway Station. It features a rooftop pool, a fitness centre, and an onsite carpark. This purchase marks the first serviced apartment acquisition of Bhiraj Buri. Post-sale, Boutique will still own 2124-key worth of hospitality products across different cities in Thailand, with a further development focus on prime Sukhumvit areas, Phuket and Chiang Mai.
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Accor Launches New Collection Brand – Emblems Collection
France-based Accor S.A. (“Accor”) has announced a new brand, the Emblems Collection, a global portfolio of boutique hotels and luxury resorts this Tuesday. The brand's first flagship hotel, Guiyang Art Centre Hotel, Emblems Collection, will be located in the heart of China's Guizhou province, and is slated to be opened in December 2022. The brand is expected to expand its presence globally to 60 properties by 2030. With the creation of Emblem Collection, Accor is broadening its footprint in the collection brands space in hopes to follow the success it has achieved with MGallery Hotel Collection, a storied portfolio that now counts more than 100 boutique hotels worldwide. Focused on the luxury segment but with a free-spirited approach, the Emblems Collection will feature unique hotels emblematic of their designers, demographics, or destinations with stylish and innovative sets. The brand will fall into three categories, Emblems Collection Heritage-hotels that are landmarks of the destination, Emblem Collection Retreat-resort properties along blissful beaches, and Emblems Collection Signature-design-led hotels that embody an aesthetic universe.
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| Closing Share Price | 26 November 2021 | 19 November 2021 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 2.31 | 2.38 | -2.9% | | Event Hospitality & Entertainment Ltd | 15.07 | 15.84 | -4.9% | | General Property Group | 5.36 | 5.17 | 3.7% | | Mirvac Group
| 2.90 | 2.81 | 3.2% | | |
| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 32.25 | 34.50 | -6.5% | | Dusit Thani Public Co Ltd | 9.70 | 9.80 | -1.0% | | The Erawan Group Public Co Ltd | 3.04 | 3.24 | -6.2% | | Grande Asset Hotels & Property Public Co Ltd | 0.54 | 0.53 | 1.9% | | Laguna Resorts & Hotel Public Co Ltd | 29.75 | 30.00 | -0.8% | | Minor International Public Co Ltd | 29.25 | 32.75 | -10.7% | | S Hotels and Resorts Public Company Limited | 3.24 | 3.54 | -8.5% | | |
| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 5.46 | 5.54 | -1.4% | | |
| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 2.85 | 3.03 | -5.9% | | Guangzhou Dong Fang Hotel Co Ltd | 7.08 | 7.13 | -0.7% | | |
| Huazhu Group Limited__ | 39.67 | 48.21 | -17.7% | | |
| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 12.80 | 12.90 | -0.8% | | Regal Hotels International Holdings Ltd | 3.13 | 3.20 | -2.2% | | Sino Hotels Holdings Ltd | 2.21 | 2.21 | 0.0% | | The Hong Kong & Shanghai Hotels Ltd | 7.16 | 7.12 | 0.6% | | Shangri-La Asia Limited | 6.60 | 6.56 | 0.6% | | |
| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd___ | 244.00 | 269.45 | -9.4% | | IHCL (Taj Hotels, Resorts & Palaces) | 182.05 | 210.50 | -13.5% | | EIH (Oberoi Hotels & Resorts) | 127.30 | 141.95 | -10.3% | | Hotel Leela Ventures_ | 10.55 | 11.05 | -4.5% | | Lemon Tree Hotels Ltd__ | 46.65 | 55.05 | -15.3% | | |
| The Shilla__ | 74900 | 79000 | -5.2% | | |
| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd__ | 0.38 | 0.37 | 1.4%
| | ARA Htrust (US$)__ | 0.48 | 0.50 | -5.0% | | Ascott Residence Trust __ | 1.02 | 1.04 | -1.9% | | Banyan Tree Holdings Limited | 0.35 | 0.36 | -2.8% | | CDL Hospitality Trusts __ | 1.17 | 1.24 | -5.6% | | Eagle Htrust___ | 0.14 | 0.14 | 0.0%
| | Far East Hospitality Trust | 0.61 | 0.63 | -3.2% | | Frasers Hospitality Trust | 0.48 | 0.50 | -3.0% | | Hotel Grand Central Ltd | 1.04 | 1.03 | 1.0% | | Hotel Properties Ltd __ | 3.37 | 3.35 | 0.6% | | Mandarin Oriental International Ltd (US$) | 2.23 | 2.26 | -1.3% | | Stamford Land Corporation Ltd | 0.48 | 0.51 | -6.9% | | |
| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 150.00 | 154.50 | -2.9% | | The Ambassador Hotel, Ltd | 30.40 | 31.00 | -1.9% | | |
| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 63000 | 65300 | -3.5% | | Imperial Hotel, Ltd___ | 1880 | 1881 | -0.1% | | Red Planet Japan Inc ___ | 48 | 52 | -7.7% | | |
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