HVS Market Pulse: Khao Yai, Thailand

By Ruj Masan, Pawinee Chaisiriroj and Paola Orneli Bock
This market pulse provides an overview of the tourism and hotel market performance in Khao Yai, Thailand. The article discusses recent tourism trends, market performance and hotel supply and pipeline.

To view the full article, please click here.

Naumi Hotels Acquires Central Ridge Boutique Hotel in Queenstown, New Zealand

Singapore-based private hotel owner and operator, Naumi Hotels (“Naumi”) has announced the acquisition of 14-key Central Ridge Boutique Hotel in Queenstown, New Zealand, for an undisclosed amount. Naumi’s latest acquisition follows the recent purchase of 13-key The Dairy Private Hotel in Queenstown in June 2019 and two Wellington properties in February 2018, marking its expansion in Australasia. Conveniently located in the heart of Queenstown, Central Ridge Boutique Hotel is approximately a 5-minute walk away from the town centre and a 15-minute drive away from Queenstown International Airport. The hotel features a guest lounge, ski storage facilities, a spa with sauna, a dining room for daily breakfast and a restaurant. To align the newly acquired hotel with the Naumi brand, the guest rooms and facilities will undergo a phased renovation scheduled for completion in 2020. During the renovation phase, the hotel will operate its business as usual. Upon the acquisition, Naumi now owns and/or manages seven hotels in Singapore, New Zealand and Australia.

Former Reef Hotel to Receive USD34 Million Redevelopment in Seychelles

The Seychelles’ government has approved the sale of the former 150-key Reef hotel, which will be demolished and rebuilt as a new establishment. The new owners, Krishan Malhotra, and Jadoo Harmann Dookan from Mauritius, have acquired the hotel at USD6 million, indicating USD40,000 per key. The Seychelles’ government will receive USD300,000 for processing fees and stamp duty. Following the acquisition, developers are planning to invest USD34 million in the redevelopment of a new tourism facility. Located at Anse Aux-Pins on the island of Mahé, the new hotel will retain the name as Reef Hotel. It will feature 135 rooms, including nine residential apartments and villas. Opened in 1972, the former Reef Hotel was the first tourist establishment of international standard and was a popular venue for seminars and local entertainment events.  The hotel closed down in 1990 and was brought by Mauritius-based Beachcomber Resorts & Hotels in 2001.

Indian Airline Vistara to Launch First International Flight to Singapore

India-based full-service airline, Tata SIA Airlines Limited, operating as Vistara, a joint venture between India-based Tata Sons Private Limited (“Tata”) and Singapore-based Singapore Airlines Limited (“SIA”), has announced the launch of daily flights to Singapore as the first international destination, from Delhi and Mumbai. The Singapore-Delhi and Singapore-Mumbai routes will commence from 6^th and 7^th August 2019, respectively. Vistara expressed that the launch of international flights will give it greater scale to profitability and ease pressure on international airfares from India. The new routes will be serviced by a B737-800 aircraft with 12 business class and 156 economy class seats. The carrier began operations in 2015 with a fleet of 23 A320 and six B737-800 aircraft. In its push to launch more long-haul international flights, Vistara has bought six Boeing 787-9 Dreamliner aircraft, scheduled for delivery between 2020 and 2021.

Beijing Daxing International Airport Emerges as World’s Largest Aviation Hub

The construction for Beijing Daxing International Airport was completed in late June as planned and is expected to be operational by the end of this September. Located at the south of Beijing, the new airport is approximately 46 kilometres from the city center and 67 kilometres from Beijing Capital International Airport. It features the world’s biggest single terminal building measuring over 1.4 million square meters. The new airport will not only help to relieve the current transporation pressure on Beijing Capital International Airport, but also cater for the continuous expansion of Chinese outbound travel. Going ahead, China is expected to overtake the United States as the biggest global aviation market by 2022. Beijing Daxing International Airport is anticipated to become the world’s busiest aviation hub, estimated to be able to handle over 100 million passengers per year. 

Absolute Share Price Performance, as on 19 July 2019