HVS Asia Pacific Hospitality Newsletter - Week Ending 6 August 2021 (August 10, 2021)

HVS Monday Musings: Bhopal – the Unexplored City of Lakes in India

By Mandeep S Lamba and Dipti Mohan
This article briefly highlights some of the measures that can help Bhopal, the capital city of the Indian state of Madhya Pradesh, become a popular leisure tourism destination.

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

Paramount Pictures to Develop Southeast Asia’s Biggest Theme Park in Bali

Indonesia-based PT Kios Ria Kreasi and US-based Paramount Pictures have recently signed a deal to start building a theme park in Pekutatan, Jembrana regency in Bali. The event of the signing was broadcasted and virtually attended by Indonesian officials including the People’s Consultative Assembly Speaker, Bambang Soesatyo, Tourism and Creative Economy Minister, Sandiaga Uno, and Bali Governor, Wayan Koster. According to Soesatyo, the theme park is set to boost Bali’s economy and international tourism standing post-COVID-19. The targeted location of the theme park at the 95-kilometre Gilimanuk-Mengwi toll road development area is strategically located to connect the Gilimanuk port to the cities of Denpasar, Badung, Gianyar, and Tabanan, which increases the ease of access to the theme park. The theme park is estimated to hold a soft launch in 2025 and is expected to attract up to five million visitors annually.

Taiwan’s Progressive Reopening After Pandemic Alert Lowered to Level Two

On 27 July 2021, the Taiwan government has lowered its COVID-19 pandemic alert from Level Three to Level Two. Following this announcement, various counties have eased restrictions and have progressively reopened for tourism. The Lienchiang County government has lifted restrictions on Matsu Island, where indoor dining is permitted, and tourism attractions are partially reopened with a limit of 50 people. Pingtung County has authorised five beaches to reopen in Kenting National Park, while the Penghu County would also reopen all tourism attractions and tourist centres from 27 July 2021, with social distancing and masking measures in place. Yilan County has announced that Turtle Island would be open from 29 July 2021, with whale and dolphin-watching cruises to continue its operations. Domestic visitors are only permitted to travel to these regions if they are either fully vaccinated for 14 days or have a negative PCR test three days before their departure, or a negative COVID-19 result at the airport. In addition, the Taiwanese government is currently in talks with the Palau government, to restart the travel bubble between the countries.

Hong Kong Eases Border Restrictions to Overseas Travellers from 9 August 2021

Hong Kong government has announced a series of policies to lift border restrictions to overseas travellers from 9 August 2021 onwards. The government has reclassified countries into three tiers: high-risk, medium-risk and low-risk. Vaccinated Hong Kong residents could now enter Hong Kong from ten previously banned high-risk countries including the United Kingdom, Russia and India with 21-day quarantine at designated hotels. Travellers, including Hong Kong residents and inoculated non-residents, from medium-risk countries, are allowed to enter Hong Kong with different quarantine rules. Vaccinated travellers from medium-risk countries with a positive antibody test result would only require a seven-day quarantine now. All vaccinated travellers from low-risk countries (Australia, New Zealand, Macau and Mainland China) could enter Hong Kong with seven-day quarantine, or 14-day quarantine if they are not vaccinated. 38% of the entire Hong Kong population have received the first dose of vaccine as of 5 August 2021. While the vaccination rate is insufficient to drive herd immunity, coupled with the fear of the spread of the delta variant, Hong Kong faces pressure to ease border restrictions to resume international trade, after seeing over 50 days of zero local infection.

IMG Australia’s AUD120 Million Pullman to Be Constructed

The City of Melbourne has announced its approval for Australia-based IMG Investments Australia’s plan to construct the 27-storey Pullman hotel over a 105-year-old Edwardian poultry food warehouse. The AUD120 million hotel is designed by Elenberg Fraser and consists of 344 hotel rooms and 27 parking spaces. The heritage council’s adviser initially opposed the plan, stating their concerns that the new hotel would diminish the perception and appreciation of the integrity of the original heritage building. Therefore, the approved plans are to adopt a contemporary design distinguishable from the heritage building, blending a respectful contextual design that avoids a direct reproduction from its original form. To achieve this, the hotel would retain the building’s original façade and restore the brickwork but would utilise steel-framed doors and windows in replacement of the original. Other facilities within the hotel include hotel offices and retail spaces on the ground floor, a coworking and meeting space on the fourth floor, and a wellness centre on the fifth floor.

Absolute Share Price Performance, as on 6 August 2021

Closing Share Price as at 6 August 2021 30 July 2021 % Change
Australia Stock Exchange (ASX)
Elanor Investors Group 1.98 1.93 2.6%
Event Hospitality & Entertainment Ltd 12.80 12.53 2.2%
General Property Group 4.70 4.67 0.6%
Mirvac Group 2.95 2.86 3.1%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 27.00 28.50 -5.3%
Dusit Thani Public Co Ltd 9.90 9.25 7.0%
The Erawan Group Public Co Ltd 2.64 2.72 -2.9%
Grande Asset Hotels & Property Public Co Ltd 0.54 0.54 0.0%
Laguna Resorts & Hotel Public Co Ltd 31.00 29.50 5.1%
Minor International Public Co Ltd 29.25 29.75 -1.7%
S Hotels and Resorts Public Company Limited 3.16 3.16 0.0%
China Shanghai Stock Exchange (RMB)
Jinling Hotel Corporation Ltd 5.39 5.32 1.3%
China Shenzhen Stock Exchange (RMB)
Huatian Hotel Group Co.,Ltd. 2.82 2.46 14.6%
Guangzhou Dong Fang Hotel Co Ltd 6.35 6.56 -3.2%
Huazhu Group Limited 44.92 44.98 -0.1%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 14.58 14.50 0.6%
Regal Hotels International Holdings Ltd 3.92 3.96 -1.0%
Sino Hotels Holdings Ltd 2.43 2.44 -0.4%
The Hong Kong & Shanghai Hotels Ltd 6.96 6.85 1.6%
Shangri-La Asia Limited 6.69 6.90 -3.0%
National Stock Exchange (INR)
Chalet Hotels Ltd 168.25 177.05 -5.0%
IHCL (Taj Hotels, Resorts & Palaces) 144.9 145.1 -0.1%
EIH (Oberoi Hotels & Resorts) 108.3 111.3 -2.7%
Hotel Leela Ventures 9.7 10.1 -4.5%
Lemon Tree Hotels Ltd 40.7 41.2 -1.3%
Korea Exchange (KRW)
The Shilla 94400 93500 1.0%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.37 0.38 -1.3%
ARA Htrust (US$) 0.52 0.54 -4.6%
Ascott Residence Trust 1.00 1.03 -2.9%
Banyan Tree Holdings Limited 0.32 0.31 4.9%
CDL Hospitality Trusts 1.17 1.21 -3.3%
Eagle Htrust 0.14 0.14 0.0%
Far East Hospitality Trust 0.58 0.58 0.0%
Frasers Hospitality Trust 0.52 0.52 0.0%
Hotel Grand Central Ltd 1.04 1.05 -1.0%
Hotel Properties Ltd 3.28 3.30 -0.6%
Mandarin Oriental International Ltd (US$) 2.03 1.99 2.0%
Stamford Land Corporation Ltd 0.51 0.53 -2.9%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 148.5 151.0 -1.7%
The Ambassador Hotel, Ltd 28.0 28.3 -1.1%
Tokyo Stock Exchange (JPY)
Japan Hotel REIT Investment Corp. 64000 66700 -4.0%
Imperial Hotel, Ltd 1875 1843 1.7%
Red Planet Japan Inc 55 55 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 [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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