HVS APAC.jpg

Conrad Seoul Hotel Sold to ARA Asset Management Limited for USD 292 Million

Canada-based Brookfield Asset Management inked the sale of the 434-key, 38 story Conrad Seoul to Singapore-based ARA Asset Management Limited for USD 292 million, which translates to approximately USD 670,000 per key.  Conrad Seoul offers rooms and suites, with a spa, fitness club, executive lounge, seven on-site food and beverage offerings, and eighteen meetings room with a total event space of 2,545sqm

AXA IM Alts Acquired Kyoto Hotel for JPY 6.8 Billion

France-based AXA IM Alts purchased an unnamed hotel in Kyoto, Japan JPY 6.8 billion to be subsequently refurbished and rebranded to Holiday Inn Kyoto Gojo. The sustainability-focused 183-key hotel is expected to open in early 2025, and the 8.099 square metres property is located near Kyoto Station, and other cultural heritage sites. The property will feature various on-site dining options, multiple banquet rooms, traditional Japanese baths, and a fitness centre.

Australia-based TPG Hotels Acquires Pacific Hotel Cairns in Cairns, Australia.

The 207-key Pacific Hotel Cairns was sold to the Australia-based hospitality group TPG Hotels for an undisclosed sum. The hotel has eleven stories, with both rooms and suites offered. Facilities include an on-site restaurant, a guest lounge, a common swimming pool, and parking spaces. The hotel also has four retail tenancies, utilized by two current tenants, Destination Cairns Marketing and Flamingos Tiki Bar, which form part of the asset. The hotel’s ADR and RevPAR were 41% and 24% above pre-pandemic levels in 2023. 

Hanjin KAL Sells Hawaiian Waikiki Resort Hotel to Sono International for USD 101.2 Million

South Korea-based Hanjin KAL Co. Ltd. is selling a 100% stake its US-based subsidiary Waikiki Resort Hotel Inc. for approximately USD 101.2 million to South-Korea based Sono International Co. The sale includes the full stake in the luxury hotel, and the subject property and land. The Waikiki Resort Hotel is in the state of Hawaii, an estimated 14.5km away from Hawaii’s Daniel K. Inouye International Airport. The 275-key property has a gross floor area of 19,800 square meters, comprising 20 stories: 19 above ground and one underground. In 2023, the Waikiki Resort Hotel achieved an average occupancy rate of 86%, an annual revenue of KRW 23.2 billion representing a 8.7% year-on-year increase, and a net profit of KRW 2.8 billion representing a 12.9% decrease year-on-year. 

Thailand to Roll Out New Visa Initiatives to Boost Tourism Growth

The Thai government has approved several new visa initiatives to enhance the country’s attractiveness to international tourists. 36 new countries, including China and India, will be added to Thailand’s visa-free entry eligibility list, expanding it from 57 to 93.  Visa-on-arrival has also been approved for 12 new countries, upping the number from 19 to 31. Five-year visas will now be issued to tourists who wish to work and sightsee for stays lasting up to 180 days, and extendable for another 180 days. Foreign graduates in Thailand may now also remain in Thailand for up to a full year after graduation. Health insurance requirements for long-stay tourists aged 50 and above have also been reduced from a mandatory coverage of THB 3 million or more to THB 440,000. These measures will help Thailand to boost the tourism sector significantly.

Absolute Share Price Performance, as of 07 June 2024

Closing Share Price

07 June 2024

31 May 2024

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group

1.07

1.10

-2.7%

Event Hospitality & Entertainment Ltd

12.00

11.87

1.1%

General Property Group

4.29

4.26

0.7%

Mirvac Group

2.00

1.97

1.3%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd

40.75

41.00

-0.6%

Dusit Thani Public Co Ltd

11.20

11.30

-0.9%

The Erawan Group Public Co Ltd

4.50

4.74

-5.1%

Grande Asset Hotels & Property Public Co Ltd

0.12

0.14

-14.3%

Laguna Resorts & Hotel Public Co Ltd

42.50

45.00

-5.6%

Minor International Public Co Ltd

30.75

30.75

0.0%

S Hotels and Resorts Public Company Limited

2.08

2.18

-4.6%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

6.51

6.70

-2.8%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.

2.83

3.04

-6.9%

Guangzhou Lingnan Group Holdings Company Limited

8.58

9.08

-5.5%

NASDAQ (US$)

Huazhu Group Limited

34.85

37.26

-6.5%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd

10.12

10.08

0.4%

Regal Hotels International Holdings Ltd

2.51

2.62

-4.2%

Sino Hotels Holdings Ltd

1.43

1.50

-4.7%

The Hong Kong & Shanghai Hotels Ltd

6.21

6.08

2.1%

Shangri-La Asia Limited

5.47

5.53

-1.1%

National Stock Exchange (INR)

Chalet Hotels Ltd

832.00

818.00

1.7%

IHCL (Taj Hotels, Resorts & Palaces)

591.00

577.00

2.4%

EIH (Oberoi Hotels & Resorts)

448.00

444.00

0.9%

Hotel Leela Ventures

25.80

25.35

1.8%

Lemon Tree Hotels Ltd

143.80

143.35

0.3%

Mahindra Holidays & Resorts

404.10

417.00

-3.1%

Royal Orchid Hotels

357.05

340.00

5.0%

SAMHI Hotels Limited

186.00

190.70

-2.5%

Korea Exchange (KRW)

The Shilla

56200.00

57200.00

-1.7%

Singapore Stock Exchange (S$)

Amara Holdings Ltd

0.61

0.61

-0.8%

ARA Htrust (US$)

0.28

0.28

0.0%

Ascott Residence Trust

0.90

0.90

0.0%

Banyan Tree Holdings Limited

0.42

0.42

-1.2%

CDL Hospitality Trusts

0.97

0.99

-2.0%

Far East Hospitality Trust

0.62

0.63

-0.8%

Frasers Hospitality Trust

0.43

0.44

-1.1%

Hotel Grand Central Ltd

0.77

0.77

0.0%

Hotel Properties Ltd

3.55

3.60

-1.4%

Mandarin Oriental International Ltd (US$)

1.71

1.72

-0.6%

Stamford Land Corporation Ltd

0.40

0.40

0.0%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation

226.50

224.00

1.1%

The Ambassador Hotel, Ltd

70.20

69.30

1.3%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.

79800.00

78600.00

1.5%

Imperial Hotel, Ltd

869.00

863.00

0.7%

Red Planet Japan Inc

82.00

51.00

60.8%

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 hychee@hvs.com


Mandeep S. Lamba, President, South Asia – HVS Anarock mlamba@hvs.com


Mei Leng Ho, Senior Vice President – HVS Singapore mlho@hvs.com


Florian Kittler, Managing Director – HVS Executive Search Europe & Asia Pacific fkittler@hvs.com

Superior Results through Unrivaled Hospitality Intelligence. Everywhere.

Stay current. Click here to receive free HVS newsletters

Looking for insights into the hospitality industry?

Discover unique hospitality intelligence at hvs.com/publications

Interested in a particular market?

Find hundreds of market overviews, all written by HVS experts, at hvs.com/marketreviews

Like to be in the know on hotel trends and predictions?

See our Hotel Valuation Index for dozens of cities at hvi.hvs.com



HVS.com

LinkedIn  Twitter  Facebook  YouTube  Email  Web

Copyrights © 2024 All Rights Reserved by HVS

Privacy Policy


Sent By: HVS Asia Pacific


If you would like to change your preferred email format, change your subscribed email address, or have any comments or suggestions, please contact us at: hvs@hvs.com.