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Kasumigaseki Capital Transacted Two Japanese Hotel Development Sites
Kasumigaseki Capital, a Japan-based real estate consulting firm, has sold a land parcel of approximately 2,400 square metres along with a building intended for hotel development in Hatsukaichi City, Hiroshima Prefecture. The planned hotel will consist of five storeys and 34 guest rooms. In addition, the company is set to acquire a development site for another hotel in Ginza, Tokyo. The financial details for both transactions have not been disclosed.
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Osaka’s New Mixed-use Development Opens with Three New Hotels
Grand Green Osaka, the new mixed-use development in Osaka, is set to partially open within weeks. The development will house three hotels: the 252-key Waldorf Astoria Osaka, 482-key Hotel Hankyu Gran Respire Osaka, and 308-key Canopy Osaka Umeda. The project aims to transform the northern portion of Osaka into a contemporary district with 45,000 square metres of green space, and a variety of facilities such as shops, restaurants, a spa, a museum, sports and edutainment cubes, an information center, a train station with direct connection to Kansai International Airport and other parts of Japan, and a 120-metre-long canopy-covered event space. Full opening of Grand Green Osaka is targeted to be within fiscal year 2027.
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The Light City Mixed-Use Development in Penang is Set to Welcome Two New Hotels
The Light City Project, Penang, Malaysia will welcome JdV by Hyatt (“JBH”) and Galaxy Minyoun Penang The Light City Hotel (“GMPTLCH”) into the development. Developed by IJM Perennial Development, a joint venture between Malaysia-based IJM Corporation Berhad and Singapore-based Perennial Holdings Private Limited, the project is located on the eastern coastline of Penang Island. The development includes office spaces, meeting venues, restaurants, and leisure facilities. JBH will occupy six floors and feature 156 rooms, while GMPTLCH will occupy nine floors and feature 303 rooms.
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Malaysia Set to Enhance Cruise Tourism Infrastructure
The Malaysian government have announced on 29 July 2024 of their intention to enhance and develop the nation’s cruise tourism infrastructure, Port Klang Cruise Terminal and Swettenham Pier Cruise Terminal in particular, to make Malaysia a desirable port destination for cruises. Improvements in the works for Port Klang Cruise Terminal are focused on increasing the terminal’s capacity to accommodate more cruise ships. Swettenham Pier Cruise Terminal is undergoing works to beautify its surroundings. A technical committee for the purpose of improving the cruise industry in Malaysia was also established. Malaysia has seen a growth in its cruise sector, receiving 1,055 cruise ships in 2023, which represents an 85% increase compared to 2019.
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Grand Fortune Hotel Bangkok to be Rebranded into a New Avani Hotel in Bangkok
Minor Hotels, a subsidiary of Thailand-based Minor International, will launch its third property, the 402-key Avani Ratchada Bangkok from the former Grand Fortune Hotel Bangkok on 1 September 2024. This project is in partnership with Thailand-based real estate developer, CP Land Public Company Limited (“CP Land”). The property is located at Ratchada area, and will feature five food and beverage outlets, 16 meeting venues, and a wellness centre that occupies a whole floor with a lap pool, fitness centre, and spa facilities, including a Japanese Onsen and sauna.
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Absolute Share Price Performance, as of 16 August 2024 | |
| Closing Share Price | 16 August 2024 | 09 August 2024 | % Change | | |
| Australia Stock Exchange (ASX) | | |
| Elanor Investors Group | 0.87 | 0.87 | -0.6%
| | Event Hospitality & Entertainment Ltd | 11.36 | 11.33 | 0.3%
| | General Property Group | 4.69 | 4.58 | 2.4%
| | Mirvac Group | 1.99 | 1.98 | 0.5%
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| Bangkok Stock Exchange (THB) | | |
| Central Plaza Hotel Public Co Ltd | 30.25 | 35.00 | -13.6%
| | Dusit Thani Public Co Ltd | 9.65 | 10.00 | -3.5%
| | The Erawan Group Public Co Ltd | 3.50 | 3.76 | -6.9%
| | Grande Asset Hotels & Property Public Co Ltd | 0.08 | 0.09 | -11.1%
| | Laguna Resorts & Hotel Public Co Ltd | 37.50 | 38.00 | -1.3%
| | Minor International Public Co Ltd | 25.00 | 26.50 | -5.7%
| | S Hotels and Resorts Public Company Limited | 1.78 | 1.83 | -2.7%
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| China Shanghai Stock Exchange (RMB) | | |
| Jinling Hotel Corporation Ltd | 6.23 | 6.48 | -3.9%
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| China Shenzhen Stock Exchange (RMB) | | |
| Huatian Hotel Group Co.,Ltd. | 2.91 | 3.00 | -3.0%
| | Guangzhou Lingnan Group Holdings Company Limited | 8.61 | 9.19 | -6.3%
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| Huazhu Group Limited | 28.94 | 28.98 | -0.1%
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| Hong Kong Stock Exchange (HK$) | | |
| Miramar Hotel & Investment Co Ltd | 9.42 | 9.20 | 2.4%
| | Regal Hotels International Holdings Ltd | 2.80 | 2.76 | 1.4%
| | Sino Hotels Holdings Ltd | 1.30 | 1.48 | -12.2%
| | The Hong Kong & Shanghai Hotels Ltd | 5.35 | 5.39 | -0.7%
| | Shangri-La Asia Limited | 4.95 | 5.18 | -4.4%
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| National Stock Exchange (INR) | | |
| Chalet Hotels Ltd | 820.00 | 787.10 | 4.2%
| | IHCL (Taj Hotels, Resorts & Palaces) | 627.90 | 614.35 | 2.2%
| | EIH (Oberoi Hotels & Resorts) | 381.95 | 391.00 | -2.3%
| | Hotel Leela Ventures | 19.49 | 20.55 | -5.2%
| | Lemon Tree Hotels Ltd | 120.90 | 119.78 | 0.9%
| | Mahindra Holidays & Resorts | 399.15 | 433.00 | -7.8%
| | Royal Orchid Hotels | 340.10 | 353.00 | -3.7%
| | SAMHI Hotels Limited | 195.90 | 197.00 | -0.6%
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| The Shilla | 47700.00 | 47000.00 | 1.5%
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| Singapore Stock Exchange (S$) | | |
| Amara Holdings Ltd | 0.56 | 0.61 | -8.3%
| | ARA Htrust (US$) | 0.23 | 0.24 | -4.2%
| | Ascott Residence Trust | 0.87 | 0.86 | 0.6%
| | Banyan Tree Holdings Limited | 0.35 | 0.36 | -2.8%
| | CDL Hospitality Trusts | 0.86 | 0.88 | -1.7%
| | Far East Hospitality Trust | 0.62 | 0.61 | 2.5%
| | Frasers Hospitality Trust | 0.43 | 0.42 | 1.2%
| | Hotel Grand Central Ltd | 0.71 | 0.73 | -2.1%
| | Hotel Properties Ltd | 3.53 | 3.53 | 0.0%
| | Mandarin Oriental International Ltd (US$) | 1.61 | 1.61 | 0.0%
| | Stamford Land Corporation Ltd | 0.37 | 0.37 | 1.4%
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| Taiwan Stock Exchange (NT$) | | |
| Formosa International Hotels Corporation | 207.50 | 204.00 | 1.7%
| | The Ambassador Hotel, Ltd | 61.30 | 62.40 | -1.8%
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| Tokyo Stock Exchange (JPY) | | |
| Japan Hotel REIT Investment Corp. | 72600.00 | 73200.00 | -0.8%
| | Imperial Hotel, Ltd | 881.00 | 880.00 | 0.1%
| | Red Planet Japan Inc | 1140.00 | 1060.00 | 7.5%
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