Asia Pacific Hospitality Newsletter - Week Ending 09 August 2024

Nomura REIT to Acquire La’gent Stay Hakodate Ekimae in Hokkaido for JPY6.3 Billion

Japan-based Nomura Real Estate Master Fund (“Nomura REIT”) is set to acquire La’gent Stay Hakodate Ekimae from Japan-based builder Daiwa House Industry for JPY 6.3 billion, with sponsorship from Nomura Real Estate Development. The 261-key hotel is located within the Hakoviva commercial complex in Hakodate, the second largest city in Hokkaido, just a one-minute walk away from the Hakodate Station. The acquisition price equates to JPY 24.1 million per key for the hotel which covers 13,303 square metres across eleven stories.

Evason Phuket Resort Site Acquired by YTL Group

Malaysia-based YTL Corporation Berhad (“YTL Group”) have completed its 100% ownership acquisition of Singapore-based AF Global Limited’s wholly owned subsidiary RP Hotels (Thailand) Limited for a total sum of THB 1.6 billion. The deal also included certain real estate assets, namely two freehold condominium units, and two plots of freehold land in Phuket, Thailand to be utilized for hotel development. The plots of land used to be the site of the 260-key Evason Resort and Six Senses Spa.

The Jazz Corner Hotel in Melbourne Acquired by Minor Hotels

Thailand-based Minor Hotels announced their acquisition of the 101-key Jazz Corner Hotel in Melbourne, Australia for an undisclosed sum. The property is located next to the Flagstaff Gardens, and is a two-minute walk away from the Flagstaff Railway Station. The Jazz Corner Hotel features jazz themed rooms and suites, a fitness centre, and on-site food and beverage options.

Singapore’s Tuan Sing Holdings Launching First Australian-based Hospitality Venture

Grand Hotel Group, a wholly owned subsidiary of Singapore-based Tuan Sing Holdings, will launch its first Australian hospitality project at former 366-key Hyatt Regency Perth. It is located at 99 Adelaide Terrace and will be rebranded as Residence on Langley Park, which will reopen with luxury accommodation suitable for both short and long-term stay. The project will also include a new vibrant retail precinct, diverse hospitality offerings and public spaces, which is expected to be completed in 24 months.

AirAsia Announces New Direct Route between Two Indonesian Cities and Hong Kong

Malaysia-based low-cost carrier AirAsia has announced its newest routes between Indonesia and Hong Kong, offering direct flights between Bali – Hong Kong and Jakarta – Hong Kong daily. Bali is renowned for its stunning beaches such as Kuta Beach and serene Uluwatu Temple while Jakarta serves as the gateway to Indonesia’s diverse cultural and historic attractions. Official flights for the Bali – Hong Kong flight begin on 1October 2024, while flights for Jakarta – Hong Kong operates from 8 October 2024.

Absolute Share Price Performance, as of 09 August 2024

Closing Share Price

09 August 2024

02 August 2024

% Change

Australia Stock Exchange (ASX)

Elanor Investors Group	0.87	0.89	-2.2%
Event Hospitality & Entertainment Ltd	11.33	10.95	3.5%
General Property Group	4.58	4.48	2.2%
Mirvac Group	1.98	2.08	-4.8%

Bangkok Stock Exchange (THB)

Central Plaza Hotel Public Co Ltd	35.00	38.50	-9.1%
Dusit Thani Public Co Ltd	10.00	10.10	-1.0%
The Erawan Group Public Co Ltd	3.76	3.68	2.2%
Grande Asset Hotels & Property Public Co Ltd	0.09	0.08	12.5%
Laguna Resorts & Hotel Public Co Ltd	38.00	38.25	-0.7%
Minor International Public Co Ltd	26.50	27.50	-3.6%
S Hotels and Resorts Public Company Limited	1.83	1.94	-5.7%

China Shanghai Stock Exchange (RMB)

Jinling Hotel Corporation Ltd

6.48

6.55

-1.1%

China Shenzhen Stock Exchange (RMB)

Huatian Hotel Group Co.,Ltd.	3.00	2.82	6.4%
Guangzhou Lingnan Group Holdings Company Limited	9.19	9.57	-4.0%

NASDAQ (US$)

Huazhu Group Limited

28.98

27.83

4.1%

Hong Kong Stock Exchange (HK$)

Miramar Hotel & Investment Co Ltd	9.20	9.22	-0.2%
Regal Hotels International Holdings Ltd	2.76	2.78	-0.7%
Sino Hotels Holdings Ltd	1.48	1.44	2.8%
The Hong Kong & Shanghai Hotels Ltd	5.39	5.32	1.3%
Shangri-La Asia Limited	5.18	5.31	-2.4%

National Stock Exchange (INR)

Chalet Hotels Ltd	787.10	801.00	-1.7%
IHCL (Taj Hotels, Resorts & Palaces)	614.35	611.20	0.5%
EIH (Oberoi Hotels & Resorts)	391.00	410.00	-4.6%
Hotel Leela Ventures	20.55	21.49	-4.4%
Lemon Tree Hotels Ltd	119.78	144.00	-16.8%
Mahindra Holidays & Resorts	433.00	440.00	-1.6%
Royal Orchid Hotels	353.00	349.00	1.1%
SAMHI Hotels Limited	197.00	182.00	8.2%

Korea Exchange (KRW)

The Shilla

47000.00

49400.00

-4.9%

Singapore Stock Exchange (S$)

Amara Holdings Ltd	0.61	0.60	1.7%
ARA Htrust (US$)	0.24	0.29	-15.8%
Ascott Residence Trust	0.86	0.88	-2.3%
Banyan Tree Holdings Limited	0.36	0.38	-5.3%
CDL Hospitality Trusts	0.88	0.94	-6.9%
Far East Hospitality Trust	0.61	0.63	-3.2%
Frasers Hospitality Trust	0.42	0.42	0.0%
Hotel Grand Central Ltd	0.73	0.73	-0.7%
Hotel Properties Ltd	3.53	3.55	-0.6%
Mandarin Oriental International Ltd (US$)	1.61	1.62	-0.6%
Stamford Land Corporation Ltd	0.37	0.38	-2.7%

Taiwan Stock Exchange (NT$)

Formosa International Hotels Corporation	204.00	205.00	-0.5%
The Ambassador Hotel, Ltd	62.40	70.00	-10.9%

Tokyo Stock Exchange (JPY)

Japan Hotel REIT Investment Corp.	73200.00	70900.00	3.2%
Imperial Hotel, Ltd	880.00	866.00	1.6%
Red Planet Japan Inc	1060.00	675.00	57.0%

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 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

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