Weekly Hotel Industry Asia Pacific News Roundup from from HVS
The Emerald Collection Acquires Emerald Faarufushi Resort & Spa to Expand Maldives Portfolio
Italy-based luxury resort group, The Emerald Collection, has announced its acquisition of a luxury property in Raa Atoll, Emerald Faarufushi Resort & Spa at an undisclosed sum. Located on a seven-hectare island with a 100-hectare private lagoon and coral reef, the resort is expected to open on 1 May 2022 and will undergo restyling to integrate the Italian touch, a part of the brand's DNA, along with new services. The 80-key resort features six different villa categories including Beach Villas, Family Villas, Family Villas with Pool, Beach Villas with Pool, Water Villa with Pool, Superior Water Villa with Pool and one Presidential Villa beautifully located on the pristine beach. Other facilities include five restaurants, two bars, the Emerald spa with eight spa suites, a kids' club, a tennis court, a paddle court, and a gym and sports centre. The resort is currently in the process of affiliation with "The Leading Hotels of the World," which is a renowned hospitality organization representing more than 400 unique independent hotels in over 80 countries.
Singapore to Further Open-up its Border and Welcome Travellers
From 8 November 2021, Singapore will extend its quarantine-free vaccinated travel lanes ("VTL") scheme to Switzerland and Australia. All fully vaccinated travellers could enjoy two-way quarantine-free travel between Switzerland and Singapore if they can obtain a negative COVID-19 test result before departure and on arrival at Changi International Airport. While the same condition applies to Australia, only fully vaccinated Australian citizens, permanent residents, and their immediate families could enjoy two-way quarantine-free travel due to Australia's border control. Students and business pass holders from Singapore would be allowed to enter Australia in the next step. Singapore has now announced 13 VTLs in total, and the daily quota of VTL arrivals will be expanded from 3,000 to 4,000. Furthermore, Singapore has lifted its travel ban for travellers with a 14-day travel history to various countries such as Bangladesh, India, Myanmar, Nepal, Pakistan, and Sri Lanka from 26 October under the Category IV border restrictions. Travellers from Malaysia, Cambodia, Egypt, Hungary, Indonesia, Israel, Mongolia, Qatar, Rwanda, Samoa, Seychelles, South Africa, Tonga, the UAE and Vietnam will now be placed under Category III border measures. They can now serve their 10-day quarantine at the declared place of residence or accommodation instead of a dedicated facility, regardless of their vaccination status and travel history.
Quang Ninh Province Launches Four Key Projects Worth Over USD12.5 Billion
On 24 October 2021, the groundbreaking ceremonies for the series of projects worth over USD12.5 billion in total were held in Quang Ninh Province, Vietnam. The four key projects are Ha Long Xanh ("HLX"), Dong Trieu golf course ("DTGC"), Quang Ninh LNG power plant ("QNLPP"), and Van Ninh sea port ("VNSP"). Developed by Vietnam-based Vingroup Joint Stock Company ("JSC") and its subsidiary, Vinhomes JSC, at an estimated investment capital of USD10.2 billion, HLX will be Vietnam's new centre of economy, culture and tourism. Spanning more than 4,100 hectares, the massive project will feature luxury resorts and hotels, amusement parks, and golf courses. DTGC will be developed by Vietnam-based Silk Path Hotel JSC over a land of 130 hectares at an investment cost of USD55.7 million. The 27-hole golf course is expected to serve 800 players per day and is slated to open by the second half of 2024. With an investment cost of over USD2 billion, QNLPP will increase the nation's electricity grid, enhance energy security and reduce the emission of greenhouse gases upon completion. The 83-hectare VNSP is expected to improve maritime security and the system of seaport infrastructure and services with an investment cost of USD96,000. The port is expected to be completed in the fourth quarter of 2024.
Bokor City to Develop 30,000 Hectares for Eco-Tourism
On 25 October 2021, the Cambodian government announced five small scale eco-tourism development plans in Preah Monivong Bokor National Park. Ministry of Environment spokesperson, Neth Pheaktra, stated that these five small scale projects are part of 40 ecotourism projects planned for Bokor National Park, witheach project covering ten hectares of land. Companies that are interested in the development of these areas are required to submit their master plans, with proposals stating the measures included that would minimise environmental impacts during the construction and operation of the development. In addition, the plans are required to state the development's waste management methods and apply the principles of environmental stewardship set by the ministry. Pheaktra further added that such eco-tourism sites have been relatively popular with domestic travellers in recent times and expect the development of Bokor National Park to observe a similar popularity. Spanning a total area of 30,000 hectares, the Bokor National Park aims to establish a "Smart City", "Historical City", and "Tourism City" in the future, with these new eco-tourism sites creating employment opportunities, offering sustainable livelihoods and improving the local economies.
Absolute Share Price Performance, as on 29 October 2021
| Closing Share Price as at | 29 October 2021 | 22 October 2021 | % Change |
| Australia Stock Exchange (ASX) | |||
| Elanor Investors Group | 2.15 | 2.10 | 2.4% |
| Event Hospitality & Entertainment Ltd | 16.42 | 15.99 | 2.7% |
| General Property Group | 5.16 | 5.24 | -1.5% |
| Mirvac Group | 2.82 | 2.95 | -4.4% |
| Bangkok Stock Exchange (THB) | |||
| Central Plaza Hotel Public Co Ltd | 36.00 | 35.75 | 0.7% |
| Dusit Thani Public Co Ltd | 9.95 | 10.00 | -0.5% |
| The Erawan Group Public Co Ltd | 3.26 | 3.22 | 1.2% |
| Grande Asset Hotels & Property Public Co Ltd | 0.54 | 0.54 | 0.0% |
| Laguna Resorts & Hotel Public Co Ltd | 31.00 | 32.00 | -3.1% |
| Minor International Public Co Ltd | 32.75 | 33.50 | -2.2% |
| S Hotels and Resorts Public Company Limited | 3.58 | 3.62 | -1.1% |
| China Shanghai Stock Exchange (RMB) | |||
| Jinling Hotel Corporation Ltd | 5.53 | 5.55 | -0.4% |
| China Shenzhen Stock Exchange (RMB) | |||
| Huatian Hotel Group Co.,Ltd. | 3.07 | 3.29 | -6.7% |
| Guangzhou Dong Fang Hotel Co Ltd | 6.62 | 6.50 | 1.8% |
| NASDAQ (US$) | |||
| Huazhu Group Limited | 46.36 | 48.41 | -4.2% |
| Hong Kong Stock Exchange (HK$) | |||
| Miramar Hotel & Investment Co Ltd | 13.04 | 13.36 | -2.4% |
| Regal Hotels International Holdings Ltd | 3.20 | 3.27 | -2.1% |
| Sino Hotels Holdings Ltd | 2.21 | 2.17 | 1.8% |
| The Hong Kong & Shanghai Hotels Ltd | 7.09 | 7.54 | -6.0% |
| Shangri-La Asia Limited | 6.34 | 6.36 | -0.3% |
| National Stock Exchange (INR) | |||
| Chalet Hotels Ltd | 235.95 | 237.60 | -0.7% |
| IHCL (Taj Hotels, Resorts & Palaces) | 196.7 | 204.7 | -3.9% |
| EIH (Oberoi Hotels & Resorts) | 138.8 | 138.2 | 0.4% |
| Hotel Leela Ventures | 10.7 | 11.1 | -4.1% |
| Lemon Tree Hotels Ltd | 54.5 | 51.3 | 6.3% |
| Korea Exchange (KRW) | |||
| The Shilla | 87400 | 89400 | -2.2% |
| Singapore Stock Exchange (S$) | |||
| Amara Holdings Ltd | 0.38 | 0.37 | 1.4% |
| ARA Htrust (US$) | 0.49 | 0.49 | 0.0% |
| Ascott Residence Trust | 1.03 | 1.03 | 0.0% |
| Banyan Tree Holdings Limited | 0.34 | 0.34 | 0.0% |
| CDL Hospitality Trusts | 1.20 | 1.20 | 0.0% |
| Eagle Htrust | 0.14 | 0.14 | 0.0% |
| Far East Hospitality Trust | 0.65 | 0.64 | 1.6% |
| Frasers Hospitality Trust | 0.48 | 0.51 | -5.9% |
| Hotel Grand Central Ltd | 1.06 | 1.06 | 0.0% |
| Hotel Properties Ltd | 3.45 | 3.38 | 2.1% |
| Mandarin Oriental International Ltd (US$) | 2.32 | 2.26 | 2.7% |
| Stamford Land Corporation Ltd | 0.51 | 0.49 | 4.1% |
| Taiwan Stock Exchange (NT$) | |||
| Formosa International Hotels Corporation | 148.5 | 148.5 | 0.0% |
| The Ambassador Hotel, Ltd | 30.3 | 29.2 | 3.8% |
| Tokyo Stock Exchange (JPY) | |||
| Japan Hotel REIT Investment Corp. | 68800 | 65300 | 5.4% |
| Imperial Hotel, Ltd | 1889 | 1910 | -1.1% |
| Red Planet Japan Inc | 51 | 53 | -3.8% |
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