Development Asia Pacific External Articles - Hospitality Net

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June 5, 2015

Surging Chinese Investment Has Widespread Global Impact, Especially Hospitality Industry | forbes.com

By Ed Fuller - Earlier this year, I blogged about the excitement in China generated by the news that its Dalian Wanda Group planned to invest $1.09 billion to build and operate a luxury hotel in London. At the time of their announcement (made in the summer of 2013), it was the first luxury hotel venture announced by a Chinese firm outside of China. Since then, Dalian Wanda has added a luxury hotel project in Madrid and, just this past summer, they advised Chicagoans they will open a $900 million skyscraper, the city’s 3rd-tallest building, on Lakeshore Drive East housing a 240-room luxury, 5-star hotel, luxury apartments and retail space in 2018. Additional US markets targeted by Dalian Wanda include New York, Los Angeles and San Francisco.

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April 10, 2015

Cash-rich Chinese investors expected to hoover up billions of pounds worth of hotel assets this year | thisismoney.co.uk

Sales of US hotels to the Chinese have soared since 2009 as they mop up trophy assets in primary destinations. One of the most recent transactions was China’s Anbang Insurance Group’s purchase last October of the prestigious Waldorf Astoria in New York for £1.31bn, which set a new record for a single hotel deal in the US. It followed a loosening of controls on outbound investment by China’s Ministry of Commerce. Deals above £67.4m now no longer require its approval.

thisismoney.co.uk

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November 13, 2014

Hotel Assets New Darling of Chinese Investors | wsj.com

Hotel assets are becoming the new darling of Chinese outbound real estate investors this year, as firms look to tap demand from the rising numbers of Chinese tourists venturing abroad, as well as to diversify from a slowing market at home. State-owned Shanghai Jin Jiang International is the latest to join the fray, picking up France’s Louvre Hotels Group, the second-largest European hotels company, from Starwood Capital Group. Jin Jiang, one of China’s biggest hotel groups that manages high-end hotels as well as a budget motel chain, agreed to a price tag of around 1.2 billion euros, according to people familiar with the matter.

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July 21, 2014

India: 'Hotels As A Business Vertical Are Not For The Impatient' | businessworld.in

It's intriguing to see so many real estate firms getting into hospitality services and expanding in that arena, especially as generating returns are much more difficult as compared to office space or apartments. Several realty firms, in fact, have lost value over their hotel investments. The Brigade group ventured into hospitality in June 2004 with serviced residences, and over the last ten years has expanded into lifestyle membership clubs like Woodrose, Augusta, Galaxy and Regent, MLR convention centres and the more recently, a standalone restaurant HIGH Ultra Lounge. Brigade Hospitality also has two operating hotels – Sheraton Hotel Bangalore at Brigade Gateway and Grand Mercure, Bangalore and 8 in the pipeline. BW| Businessworld's Chitra Narayanan quizzed Brigade Hospitality Services CEO & Executive Director Vineet Verma on growth plans...

businessworld.in

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April 22, 2014

Leela group to sell Delhi, Chennai hotels | indiatimes.com

Hotel Leelaventure Ltd is in talks with sovereign wealth funds of Abu Dhabi, Qatar and Malaysia to sell its prime properties in Delhi and Chennai for around Rs 1,850 crore to pare debt. The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities. While the foreign investor may pick up 74% interest in the hived-off entities, Leelaventure will retain 26% stake and continue to manage the five-star hotels, industry sources said.

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January 16, 2014

Japan's tourism boom fuels hotel growth | hotelmanagement.net

Is Japan the next development boom? Numbers sure don't lie. Last week, government data showed that a record 11.25 million tourists visited Japan last year, up 22.7 percent from a year earlier. Why the boost? Analysts say a combination of factors are involved, including a weaker yen, cheaper air fares, less strict visa requirements in the region and an overall boost to Asia-Pacific tourism, which has seen tourist visits double since 2,000. Hoteliers are taking note. For one, Red Planet Hotels, the major shareholder of budget brand Tune Hotels. It's CEO told CNBC it plans to open up 20 hotels by 2020 in Japan to benefit from this growing trend.

hotelmanagement.net

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September 2, 2013

Tata's Orient-Express Hotels investment value plunges by 67% | indiatimes.com

The value of Indian Hotels Company's (IHCL) six-year old stake in Orient-Express Hotels has reduced by two-thirds, further narrowing the options India's largest hospitality chain has for the British hotels-to-trains group. IHCL, known best for operating the Taj chain, holds about 7% stake in Orient-Express, which is now worth $86 million based on the NYSE-listed firm's Friday closing price. According to IHCL's latest annual report, its cost of acquisition towards Orient-Express shares was $262 million.

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June 19, 2013

China's Dalian Wanda to Build Hotels Overseas | wsj.com

Chinese property conglomerate Dalian Wanda Group plans to expand its luxury real-estate and hotel business overseas, as it builds the world's first Chinese luxury hotel outside of China's mainland to cater to the country's booming outbound travel market. Wanda said it plans a luxury hotel and development in London with a total investment value of £700 million ($1.09 billion). It will build luxury apartments and a luxury hotel in London, it said.

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June 12, 2013

Australia: Blackstone eyes $574m hotel bid | theaustralian.com.au

BLACKSTONE is tipped to secure a $574 million-plus hotel portfolio from its private equity rival Brookfield as the pair continue to dominate local real estate. Canada's Brookfield is selling five hotels as it recasts plans for the $1 billion-plus Wynyard redevelopment in central Sydney. Sources say the project will likely make a "grand statement" and feature a dynamic office skyscraper in line with other landmark projects the group has embarked on globally.

theaustralian.com

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May 3, 2013

Raymond Bickson's revival plan for Taj Hotels | moneycontrol.com

Raymond Bickson is trying to change the Taj hotels' operating model, but first the chain will have to learn to get out of its comfort zone In 2008, when INSEAD's Gabriel Szulanski wrote his case study around the Taj hotels’ acquisition of The Pierre, a marquee property in the heart of Manhattan, little did he realise just how prescient he would turn out to be. The case study delved into the group’s dilemma on whether to expand in the US market.

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April 12, 2013

In India, hotel operators grow via conversion route | hotelmanagement.net

While India continues to be a compelling destination for developers to build hotels, a gauntlet of red tape and provincial entangles makes it a very tough proposition. However, savvy hotel operators are turning to conversions instead of ground-up development to expand in the country, as Reuters reports. Consider Starwood Hotels & Resorts Worldwide. According to the article, it got a 104-room hotel up and running in India in less than 12 months by rebranding an existing property instead of building a new one.

hotelmanagement.net

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February 14, 2013

India needs more budget hotels, says Gateway Hotels CEO | thehindubusinessline.com

Notwithstanding the fact that a few thousands of new rooms have been added in the last two to three years, India is still a very under-supplied market, as far as hotel rooms are concerned. It is in dire need of both budget and upscale hotels, says P.K. Mohankumar, Chief Operating Officer of Gateway Hotels (of The Indian Hotels Company Ltd).

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November 2, 2012

Kempinski to Operate World’s Tallest Hotel in North Korea | businessweek.com

The world’s tallest hotel will open next year in the North Korean capital of Pyongyang as the impoverished totalitarian regime burdened by international sanctions seeks foreign currency through a boost in tourism. The 105-story, pyramid-shaped Ryugyong Hotel, whose foundations were poured almost three decades ago, will open partially in July or August, Kempinski AG Chief Executive Officer Reto Wittwer said today at a forum in Seoul. The German luxury-hotel manager will be the first western hospitality company to operate in North Korea, he said.

businessweek.com

Korea, Democratic People's Republic

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September 4, 2012

Kempinski Hotels to re-enter India with Ambience | dnaindia.com

Third time lucky! Kempinski Hotels appears to be betting as it prepares to re-enter the Indian hospitality market. This time around, however, Europe’s oldest luxury hotel group has taken the management contract route as opposed to the marketing alliance approach it had taken twice earlier with Capt C P Krishnan Nair’s The Leela Group.

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July 16, 2012

A new hotel every two days -- Chinese chain bids to be world's biggest | cnn.com

China's economic success has created a fast-growing middle class and an explosion in domestic travel. Cashing in on the travel boom is one hotel chain that's expanding so fast, it's opening a new property every two days. Budget hotel chain Hanting Inns was founded by billionaire businessman Ji Qi seven years ago. Today it has 1,000 properties in China, across four brands, and Ji expects Hanting to be the world's biggest hotel chain by 2020.

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July 5, 2012

Carlyle acquires 49 pct of China mid-tier hotel chain | reuters.com

U.S. buyout fund Carlyle Group LP said on Thursday it has acquired 49 percent and effective control of China's Mandarin Hotel Holdings Ltd for an undisclosed sum, seeking to tap into strong growth for the nation's mid-tier hotel sector. A burgeoning middle-class and growing domestic consumer spending has helped revenues for the mid-tier hotel segment climb around 15 percent annually over the last three to five years, said Eric Zhang, a managing director at Carlyle who will be Mandarin Hotel's co-chairman.

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June 12, 2012

India: Tata group to invest $107 million to open 55 Ginger hotels in India| indiatimes.com

Tata group firm Roots Corporation that runs mid-budget hotel chain Ginger, today said it will invest over Rs 600 crore in the next four years to open 55 new properties across the country. Roots Corporation, which is a subsidiary of Indian Hotels Company Ltd, currently operates 24 hotels and the 25th one was inaugurated today at Faridabad in Haryana.

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June 6, 2012

Lamborghini branded luxury hotel opens in Suzhou, China | chinadaily.com.cn

On June 3, the launch of Shanghai Join In hotel management company - a fashionable, luxurious, high-end international hotel (resort) management company, and the first Asian Tonino Lamborghini brand hotel - Tonino Lamborghini Boutique Hotel Suzhou was held near the Jinji Lake of Suzhou Industrial Park. More than 300 officials, foreign diplomats, entrepreneurs, celebrities attended the celebration including Chairman of Join-In Group Gao Jianrong, founder of the Tonino Lamborghini Group Tonino Lamborghini, Deputy Director of National Tourism Administration Zhu Shanzhong, Board Chairman of Century Golden Resources Group Huang Rulun, Czech Ambassador to China Libor Secka, Italian Consul General in Shanghai Vincenzo De Luca and Portuguese Consul General in Shanghai Joaquim Moreira De Lemos, actresses Liu Jialing and Huang Yi.

chinadaily.com.cn

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April 2, 2012

Bankok: Budget, mid-range hotels to boom as new markets emerge | bangkokpost.com

With luxury hotels in Bangkok oversupplied and room rates falling, more owners have shifted their focus to mid-range offerings that better match the emerging tourism trend from fast-growing markets such as India and China. The upscale room glut shows no sign of easing while demand from clients for no-frills accommodation is on the rise, says a new report by the property services company Colliers International.

bangkokpost.com

Bankok, Thailand

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November 21, 2011

U.S. hotels expand their reach into China | usatoday.com

Several U.S. hotel chains are ramping up their push into China, pledging to build dozens of properties there in the next three years. Sheraton, owned by Starwood Hotels and Resorts Worldwide, announced on Wednesday plans for nine new resorts in greater China by the end of 2012. With nearly 4,000 rooms, a 10th resort in Macao, a special administrative region of China, will become Sheraton's biggest hotel and Starwood's largest resort.