Red Planet to Invest 22 Billion Yen Through Joint Venture with GreenOak in Japan

Japan-based hotel company Red Planet Japan Inc. (“Red Planet Japan”) has announced a joint venture with Japan-based real estate investment management and advisory firm, GreenOak Investment Management K.K (“GreenOak Investment Management”). GreenOak Investment Management, the Japanese arm of US-based real estate investment firm GreenOak Real Estate (“GreenOak”), will invest up to 5 billion yen into the venture while Red Planet Japan will invest up to 555 million yen. The venture is aiming a total capital of 22.2 billion yen to finance up to six new hotels in Japan over the next two years, commencing with a 160-key hotel in Hiroshima. With this joint venture, Red Planet will operate 2,500 rooms across Japan and Philippines under its brand, increasing the total number of rooms to approximately 7,450 in Asia. Red Planet Hotels, founded in 2010, focus on budget hotels with a portfolio of 30 hotels and 4,780 rooms across Indonesia, Japan, Philippines and Thailand. GreenOak is operating in Japan since 2010 and has USD 10.6 billion in asset under management in Asia, Europe and the US.

Garuda Launches Bandung-Singapore Route

The national airline of Indonesia, Garuda Indonesia (“Garuda”), has launched direct flights connecting Singapore with Bandung that will operates four-times-weekly. According to the Director of Commercial Garuda Indonesia, Pikri Ilham Kurniansyah, the new services are expected to support the Indonesian government’s programme to double the number of international tourist arrivals visiting the country by 2019. Having launched the Singapore-Tanjung Pandan flights in October and with the new Singapore-Bandung flights, Garunda continues to see the Singapore Changi connection as a way to draw tourists to Indonesia through one of Asia’s busiest aviation hubs. Prior to the new addition, Garuda operates 88 flights per week to and from Singapore to cities in Indonesia and these includes Singapore – Jakarta (9x per day), Singapore – Surabaya (per day), Singapore – Denpasar (2x per day) and Singapore – Tanjung Pandan (4x per week).

ACV to Upgrade Cat Bi International Airport

The Airports Corporation of Viet Nam (“ACV”) will invest VND4 trillion (USD170 million) to upgrade Cat Bi International Airport in Hai Phong. Key projects include passenger terminal 2 (“T2”), a parking lot in front of the new terminal and a cargo terminal, as well as several projects to renovate and expand existing aircraft parking areas. The auxiliary works include the synchronous infrastructure system and traffic system to connect with terminal T1. Once completed, T2 will have an expected capacity of 5 million passengers per year, with the potential to expand to 10 million passengers per year. The capacity of the commodity station will increase to 250,000 tonnes of cargo per year, up from the existing 100,000 tonnes of cargo annually. Since its inception in 2016, Cat Bi Airport has been operating above its current capacity. Hence, efforts to expand and upgrade its facilities are necessary. The whole project is scheduled to complete by the fourth quarter of 2020.

Ovolo The Valley Opens in Brisbane, Australia

Hong Kong-based independent hotel brand Ovolo Hotels (“Ovolo”) has officially opened the second Queensland hotel, Ovolo The Valley, following the opening of the 50-key Ovolo Inchcolm earlier this year. Located within Brisbane’s vibrant cultural precinct of Fortitude Valley, the 103 rooms and suites are divided in to five categories namely Medium (designed for short stays); Large (open-plan design); Large Spa (large open-plan design with a private spa bath); The Valley Suites (spacious suites with private top-floor balconies); and Rockstar Suites (signature suites with separate lounges, dining areas, speaker units and original art pieces). Other facilities include a gym, a sauna, a rooftop swimming pool and a meeting room. A new restaurant and bar concept from renowned chef and restaurateur, Justin North, is due to launch at Ovolo The Valley in early 2019. Ovolo currently operates four hotels in Hong Kong, and six hotels across Sydney, Melbourne, Canberra and Brisbane.

First Radisson Blu Hotel Opens in Henan Province of China

US-based Radisson Hotel Group (“Radisson”) recently announced the opening of its first property, Radisson Blu Zhengzhou Huiji, in Henan Province, China. Strategically located in Huiji District of Zhengzhou City, the five-star hotel stands close to the Jialu River, the bustling city center, beautiful mountains, and wetlands along the Yellow River. With natural scenic areas, such as Wulong Mountain, Wanda Plaza, and Zhengzhou International Convention and Exhibition Centre in the neighborhood, it allows guests to fully experience the capital city. The hotel features 272 deluxe (measuring 36 to 45 square metres) and presidential rooms (260 square metres) with free WiFi, work space, and 24-hour service. Food and beverage outlets at the hotel include an all-day dining restaurant, a Cantonese restaurant, and a lobby lounge. In addition, the hotel offers 1,500 square metres of meeting space, a ballroom that can host up to 1,200 pax, an indoor swimming pool, a 24-hour fitness center, a Business Class Lounge, and a business center. As of end 2017, Radisson’s portfolio comprises of 1,423 hotels with 224,428 rooms globally.

Absolute Share Price Performance, as on 7 December 2018