HVS Asia Pacific Hospitality Newsletter - Week Ending 7 May 2021 (May 10, 2021)

HVS Monday Musings: Adventure Tourism in India

By Mandeep S Lamba and Dipti Mohan
Adventure tourism is still evolving in India and has considerable growth potential. This article discusses some of the factors that can help in the growth of this niche segment in the country.

To view and download the full article, please click here.  

Kanuhura Maldives Resort Acquired by Hotel Properties Limited

Mauritius-based Sun Resorts Limited (“Sun Resorts”), has recently sold its luxury Kanuhura Maldives Resort to Leisure Oceans Private Limited, a subsidiary of the Singapore-based Hotel Properties Limited (“HPL”). The transaction marks the end of Sun Resorts’ operation in the Maldives. Sun Resorts believes that the strategic transaction will allow them to focus and develop their core market - Mauritius. The 80-key Kanuhura Maldives is located 35-minute away from the Male airport by seaplane. After the completion of the multi-million refurbishment project in 2017, the property sees great opportunity with the potential to expand its capacity and the forthcoming completion of the nearby Madivaru Airport in Lhaviyani Atoll. HPL currently tallies 38 hotels across 15 countries under renowned hospitality brands such as Four Seasons Hotels & Resorts, COMO Hotels & Resorts, Six Senses Hotels & Resorts and Concorde Hotels. The Kanuhura Maldives becomes the ninth property HPL owns in the Maldives, which includes a private island and a yacht hotel currently operated by Four Seasons.

Fusion Hotels and Resorts Acquired GLOW Hotels and Resorts

On 28 April 2021, Vietnam-based Fusion Hotels and Resorts (“Fusion”) announced their acquisition of GLOW Hotels and Resorts (“GLOW”). Based in Thailand, GLOW has been developing and operating properties across Malaysia, Thailand, and Vietnam. The newly elected CEO of Fusion, Mr Kevin Beauvais, mentioned that this acquisition would allow both Fusion and GLOW to enhance their services toward their customers, drive future growth, and deliver value to their shareholders. Following this merger, Fusion has stated that it would continue to focus on increasing its presence in Vietnam, as well as exploring and capitalising on attractive growth opportunities in its new Malaysian and Thai foothold. Singapore-based Lodgis Hospitality Holdings (“Lodgis”), the owning company of Fusion, would continue to provide financial resources to support the further growth of Fusion. After this acquisition, Fusion would be managing approximately 4,000 rooms across 26 hotels, with numerous other destinations in its pipeline. The Lodgis portfolio would then consist of more than 7,000 rooms across over 30 projects, including numerous historic assets such as Sofitel Legend Metropole Hanoi, Raffles Le Royal Phnom Penh, and Raffles Siem Reap.

Japan Tourism Announced Plans to Set Up Office in Dubai

On 28 April 2021, the Japan National Tourism Organisation (“JNTO”) has announced plans to set up a tourism promotion office in Dubai by 2021. This marks Japan’s first tourism office in the Middle East, and the office seeks to market Japan as a desired travel destination to the residents in the region. One of the promotional campaigns by JNTO involves the organisation’s participation as an exhibitor in the Middle East’s largest tourism exhibition, the Arabian Travel Market 2021. The event would take place physically in Dubai from 16 to 19 May, and on a virtual platform from 24 to 26 May. Through this event, JNTO aims to promote their “Japan Endless Discovery” campaign, which highlights Japan’s unique and diverse tourist attractions to the Middle East’s leading travel and media professionals. The inception of this office is part of JNTO’s strategic efforts in achieving the Japanese government’s goal of welcoming 60 million international visitors to Japan by 2030.

Grand Lapa Macau Rebrands as Artyzen Grand Lapa Macau

On 29 April 2021, Grand Lapa Macau officially rebrands as Artyzen Grand Lapa Macau (“AGLM”), the first hotel under the Artyzen Hotels and Resorts brand of the Hong Kong-based Artyzen Hospitality Group (“AHG”), a subsidiary of Hong Kong-listed conglomerate, Shun Tak Holdings. Opened in 1984 as The Excelsior, formerly Mandarin Oriental Macau, the hotel has undergone holistic renovation with the rebranding, and brings a classic yet contemporary Sino-Portuguese experience. The brand new ‘Boa Vida’ program, translated from Portuguese as ‘enjoying good life’, is designed to be AGLM’s leading program. AGLM and the ‘Boa Vida’ program will be officially inaugurated in June, followed by a series of special events and packages. Situated near several UNESCO world heritage sites, the 428-key upscale lifestyle hotel will feature two retail outlets, five dining outlets, one ballroom and three function rooms, an outdoor swimming pool, a spa, a fitness centre, kids’ club, and outdoor facilities for playing tennis, basketball, volleyball and football. AHG currently features five distinctive brands, namely, Zitan, Artyzen Hotels & Resorts, Artyzen Habitat, The Shang by Arytzen and YaTi by Artyzen in Beijing, Shanghai and Macau. Eight additional hotels across Asia will join the portfolio by the end of 2023.

Absolute Share Price Performance, as on 7 May 2021

Closing Share Price as at 7 May 2021 30 April 2021 % Change
Australia Stock Exchange (ASX)
Elanor Investors Group 1.74 1.69 3.0%
Event Hospitality & Entertainment Ltd 12.69 12.80 -0.9%
General Property Group 4.63 4.62 0.2%
Mirvac Group 2.78 2.69 3.3%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 31.25 31.75 -1.6%
Dusit Thani Public Co Ltd 8.10 8.15 -0.6%
The Erawan Group Public Co Ltd 4.78 4.62 3.5%
Grande Asset Hotels & Property Public Co Ltd 0.54 0.57 -5.3%
Laguna Resorts & Hotel Public Co Ltd 30.25 30.75 -1.6%
Minor International Public Co Ltd 29.25 30.00 -2.5%
S Hotels and Resorts Public Company Limited 3.16 3.02 4.6%
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd 8.03 8.99 -10.7%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co.,Ltd. 2.96 3.14 -5.7%
Guangzhou Dong Fang Hotel Co Ltd 7.36 8.14 -9.6%
Huazhu Group Limited 57.40 58.96 -2.6%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 14.94 15.20 -1.7%
Regal Hotels International Holdings Ltd 4.09 4.14 -1.2%
Sino Hotels Holdings Ltd 2.50 2.43 2.9%
The Hong Kong & Shanghai Hotels Ltd 7.83 7.79 0.5%
Shangri-La Asia Limited 7.07 7.40 -4.5%
National Stock Exchange (INR)
Chalet Hotels Ltd 144.10 143.20 0.6%
IHCL (Taj Hotels, Resorts & Palaces) 112.4 111.5 0.8%
EIH (Oberoi Hotels & Resorts) 90.0 86.7 3.7%
Hotel Leela Ventures 6.0 5.8 3.5%
Lemon Tree Hotels Ltd 35.4 35.4 -0.1%
Korea Exchange (KRW)
The Shilla 92900 86500 7.4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.37 0.39 -5.1%
ARA Htrust (US$) 0.52 0.53 -1.0%
Ascott Residence Trust 1.06 1.06 0.0%
Banyan Tree Holdings Limited 0.32 0.34 -4.5%
CDL Hospitality Trusts 1.25 1.25 0.0%
Eagle Htrust 0.14 0.14 0.0%
Far East Hospitality Trust 0.61 0.63 -3.2%
Frasers Hospitality Trust 0.55 0.56 -1.8%
Hotel Grand Central Ltd 1.08 1.09 -0.9%
Hotel Properties Ltd 3.39 3.40 -0.3%
Mandarin Oriental International Ltd (US$) 1.98 1.95 1.5%
Stamford Land Corporation Ltd 0.41 0.42 -2.4%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 145.0 149.5 -3.0%
The Ambassador Hotel, Ltd 29.4 29.3 0.2%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 63000 62600 0.6%
Imperial Hotel, Ltd 1900 1877 1.2%
Red Planet Japan Inc 55 56 -1.8%

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 [email protected]
Mandeep S. Lamba, President, South Asia – HVS Anarock [email protected]
Mei Leng Ho, Senior Vice President – HVS Singapore [email protected]
Steven Zhu, Vice President – HVS Shanghai [email protected]
Florian Kittler, Managing Director – HVS Executive Search Europe & Asia Pacific [email protected]

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