Weekly Hotel Industry Asia Pacific News Roundup from HVS
Singapore Firms Are Investing In Timor Leste's Hospitality Sector
Singapore-owned businesses are investing millions in Timor-Leste's leisure and hospitality sectors such as five-star hotels, serviced apartments, and an entertainment centre. For instance, Pelican Paradise Resort ("hotel"), a five-star hotel, part of a mixed-use township development that spans 556 hectares, boasting scenic views of the Timor Sea. The first phase of this development would cost about USD500 million. The hotel features 300 rooms, ten beachfront villas, and facilities such as specialty dining outlets, a 1,000-seat ballroom, and a 50-metre infinity lap pool. Timor Leste's potential for tourism development, with its coastline and natural beauty, is among the reasons Singapore businesses are investing in the country. Furthermore, the hotel would help Timor-Leste fulfil the requirements to be a member of ASEAN. Having convention centres and significant numbers of hotel rooms is needed to host the regional bloc's meetings. Timor Leste with her investor-friendly policies, political stability and a burgeoning young demography has great prospects. The current push towards tourism would aid the country in diversifying the economy from oil and gas. The recent opening of Singapore's embassy in Timor-Leste's capital Dili would further increase access and room for collaboration between Singapore and Timor-Leste.
AUD150 Million Boutique Hotel To Be Built in Melbourne's Southbank
Australia-based property developer Time & Place, together with Australia-based MaxCap Group and TFE Hotels, are set to open a AUD150 million boutique hotel in Southbank, Australia, in September 2025. The 188-key hotel is to be named the Hannah Street Hotel and will be operated by TFE Hotels under the Collection by TFE Hotels brand. The hotel will be located between the Melbourne CBD, Yarra River, and the Arts Precinct, within the podium of a 62-level skyscraper that is currently under construction. The skyscraper will feature the ten-level hotel and 367 apartments. The hotel will feature a neighborhood bar, restaurant, rooftop bar, events space, lap pool, large-scale gym, a work club equipped with sound-poof pod-casting rooms, and an on-site 'Experience Director' to create unique experiences for guests.
Hyatt and Hongkong Land Announce Plans for Hyatt Centric East CBD Chengdu Hotel
Hyatt Hotels Corporation, in partnership with Hongkong Land, has announced the upcoming opening of a new Hyatt Centric hotel in Chengdu, China. The Hyatt Centric East CBD Chengdu is expected to open in 2025 and will mark the entry of the Hyatt Centric lifestyle brand into China's southwest region. The hotel will be part of the upscale commercial complex, The Ring, developed by Hongkong Land, featuring premium office towers, a shopping mall, and a lifestyle hotel. Positioned in Chengdu's bustling downtown area, the hotel aims to provide a modern and dynamic environment for travelers to explore the vibrant energy of the neighborhood. This expansion aligns with Hyatt's commitment to enhancing its lifestyle portfolio in sought-after leisure destinations.
Macau Land Reclamation for Major Airport Expansion to Begin In 2024
The Macau government has outlined a tentative timeline for land reclamation to expand the Macau International Airport. Starting in H2 2024, the project aims to accommodate increasing passenger demand and allow the airport to enhance its capacity. The expansion involves reclaiming land off Taipa to create additional apron space, taxiways, and maintenance facilities. The completion of the project is estimated by 2029, and once finished, the airport's capacity will increase to around 13 million passengers. The expansion aligns with Macau's efforts to diversify its economy and attract more visitors beyond gambling. The government-owned airport saw record passenger numbers of 9.6 million in 2019.
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