HVS Asia Pacific Hospitality Newsletter - Week Ending 8 February 2019
HVS is Honoured to Participate in the Inaugural Serviced Apartments Summit Asia
We will be represented by Paola Orneli Bock who will speak at the Battle of the deal makerssession on February 22nd. SAS Asia is a dedicated conference to the serviced apartment, branded residence, aparthotel, corporate accommodation and short-term rental sectors. The Summit will take place on February 21-22 at the Amari Watergate, Bangkok, Thailand. Please contact us to set up a meeting and make sure to attend first Serviced Apartments Summit Asia - we look forward to connecting with you.
HVS, the world's leading hospitality consulting and services organization, announced that Florian Kittler has been promoted and will oversee HVS Executive Search in Europe & Asia Pacific as Managing Director. Florian will be based out of London and Frankfurt and will oversee this year's expansion with new offices in Singapore and Frankfurt.
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Chinese Investors Acquires Travelodge Rockhampton for AUD6.5 Million
A private Chinese investment group has acquired the four-star Travelodge Hotel in Rockhampton from Australia-based Tucker Box Hotel Trust ("Tucker Box Hotel Trust"), a joint venture between Australia-based companies, Mirvac Group ("Mirvac") and the National Roads and Motorists' Association ("NRMA"). The property was sold for AUD 6.5 million with a yield of 8%and will continue to be operated by Australia-based hotel management company, Toga Fast East Hotels ("TFE Hotels") under the Travelodge brand. The 74-room property features four conference and meeting rooms, two dining outlets, a swimming pool, a gymnasium and spacious parking space. NRMA is one of Australia's largest tourism providers with a portfolio valued at over AUD 800 million, which comprises over 10 hotels as well as more than 40 parks and resorts across Australia and New Zealand. Mirvac owns and manages assets across the office, retail and industrial sectors, with over AUD 18 billion of assets currently under management.
Shangri-La To Acquire 23 Plots of Land and Buildings in Bangkok, Thailand
Hong Kong-based Shangri-La Hotel Public Company Limited ("Shangri-La") has announced their intention to acquire and enter into the land purchase agreement for 23 plots of land and six buildings from Thailand-based real estate group Sriview International Company Limited ("Sriview") for a total transaction value of THB1,885,501,630. Located at Sukhumvit 55, Khlong Tan Nuea Sub-District, Wattana District in Bangkok, Thailand, the total area of the lands span approximately 657.5 square wah (2,630 square metres). The transaction including the registration of transfer and payment are anticipated to be completed within 4 months after the execution date of the land purchase agreement on 4 February 2019. After the completion of the transaction, Shangri-La plans to demolish the buildings and use the lands to develop a 27-storeyfour stars hotel with about 350 rooms under the brand, "Hotel Jen". Shangri-La owns and manages 90 hotels and resorts across Asia Pacific region including Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Maldives, Mongolia, Philippines, Singapore, Sri Lanka, Taiwan and Thailand, with another 10 developments in the pipeline.
Red Planet Japan Acquires Thailand Hotel Portfolio for 6.6 Billion Yen
Japan-based Red Planet Japan, Inc ("Red Planet Japan") will acquire Thailand-based hotel operations from its parent company, Thailand-based Red Planet Hotels Limited ("Red Planet Hotels"), for 6.6 billion yen (US$60.4 million) in a deal that is expected to be completed by the end of first quarter in 2019. The portfolio includes five operating hotels, located in Bangkok's Surawong and Asoke, Phuket's Patong, Pattaya, and, Hat Yai, and a sixth property under development in Bangkok's Sukhumvit Soi 8. This acquisition is part of Red Planet Japan's expansion plans and comes shortly after its acquisition of two flagship properties in Manila in June 2018, as well as its joint venture with US-based GreenOak Real Estate ("GreenOak") to establish six new hotels over the next two years with 22 billion yen of investment. The latest acquisition will increase Red Planet Japan's portfolio to a total of 15 hotels in Japan, Philippines and Thailand, including five hotels under development. Founded in 2010, Red Planet Hotels is a privately-owned regional hotel group which owns and operates 30 hotels with 4,779 rooms across Indonesia, Japan, Philippines and Thailand. 14 additional hotels with a total of 2,669 rooms, are slated to open across Japan, Philippines and Thailand in 2019 and 2020.
HVS is a leader in global hospitality financial consulting. Hotel owners, developers, investors, lenders, management companies, and public agencies around the world rely on HVS to make informed business decisions. HVS's commitment to excellence and unrivalled hospitality intelligence is delivered by more than 300 people in over 50 offices throughout the world who specialize in a wide range of hospitality assets including hotels, restaurants, casinos, shared ownership lodging, mixed-use developments, spas, and golf courses, as well as conventions, sports, and entertainment facilities. For more information about HVS visit https://hvs.com.