Industry Update
Press Release18 March 2019

HVS Asia Pacific Hospitality Newsletter - Week Ending 15 March 2019

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Japan Airlines' New Low-Cost Carrier, ZIPAIR Tokyo, to Launch Flights in 2020

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Japan Airlines ("JAL")

has announced its new low-cost carrier ("LCC"), ZIPAIR Tokyo ("ZIPAIR"), which will cater for medium- to long-haul destinations. The first two connecting routes will be from its home base, Tokyo's Narita airport, to Bangkok's Suvarnabhumi airport and Seoul'sIncheon airport. Serviced by Boeing 787-8 Dreamliners, the carrier is set to commence operations in the summer of 2020, just in time for the Summer Olympics in Tokyo which will be held from July 24 to August 9, 2020. ZIPAIR will be JAL's second LCC business in Japan. The airline also operates the short-haul LCC, Jetstar Japan ("Jetstar"), a joint venture between JAL, Australia's Qantas Airways, Japan-based Mitsubishi Corporation and Japan-based Century Tokyo Leasing Corporation ("CTLC"). There are plans for ZIPAIR to increase its fleet by two 787-8s annually for the next four years, bringing it to a total of 10 aircrafts. While the initial focus will be on shorter routes in Asia, ZIPAIR will eventually target US west coast destinations from Narita.

Accor and SBE to Debut Hyde Brand in Gold Coast, Australia

Following France-based Accor's ("Accor") acquisition of a 50% stake in US-based SBE Entertainment Group ("SBE") in October 2018, Accor has selected Australia as the first Asia Pacific market to expand its partnership with SBE with its ultra-trendy luxury lifestyle hospitality brand, Hyde. Slated to debut on Queensland's Gold Coast in March 2019, Hyde Paradiso will be a fashionable playground, inspired by Los Angeles' famous Sunset Strip. The venue will open all day as a contemporary beach-themed hub of relaxation before evolving into a lounge and dining venue during the evenings. Accor and SBE has also recently launch a new luxury hotel brand collection, House of Originals, in places including Sanderson and St. Martins Lane in London, 10 Karakoy in Istanbul, and the Shore Club in Miami Beach. Sam Nazarian, founder and CEO of SBE, revealed that the SBE's portfolio will grow to over 50 hotels by 2020. Accor boasts a portfolio of 1,005 hotels with approximately 196,600 rooms across 22 countries and a pipeline of 415 hotels with approximately 82,600 rooms across 19 countries in the Asia Pacific region.

Rejuvenation of The Spit Gold Coast in Queensland, Australia

The Spit Gold Coast, Queensland, Australia is slated for rejuvenation with the development of Australia's biggest Ocean Park. Almost 140 hectares of The Spit's 201 hectares is set aside for the park, as detailed in the latest draft master plan, and is set to rival some of the best parks in the world, including New York's Central Park (340 hectares) and Hyde Park London (142 hectares). The draft plan features a 4,000-square-metre restored shore rainforest, more than 800 accommodation rooms, a light rail extension to Sea World, a super-yacht marina, an Aboriginal cultural centre, improved cycle and walkways through the dunes, and potentially a cruise terminal. Parts of the park are earmarked for commercial development, but with a three-story height restriction imposed by the Gold Coast City Council. The final master plan is expected to be released in mid-2019.

Six Senses Opens in Cambodia

International hotel and spa management company, Six Senses Hotels Resorts Spa ("Six Senses"), has debuted their flagship resort in Cambodia with the opening of the Six Senses Krabey Island. Consisting of 40 private pool villas, the new resort is located on a 12-hectare private island, located five kilometres from Ream National Park in the Gulf of Thailand in Southern Cambodia. The resort is accessible via a 10-minute drive from Sihanouk International Airport and a 15-minute speedboat crossing to Krabey Island. Other facilities include two restaurants, a bar, an ice cream parlor, a Six Senses Spa with gym, and rooftop yoga pavilion. Six Senses, with its portfolio of 16 hotels and resorts, 37 spas and sister companies, Evason and Raison d'Etre, was recently acquired by UK-based InterContinental Hotels Group plc ("IHG") for USD300 million in February 2019.

HKCTS International Investment Signs Detian Waterfall Project in Guangxi, China

China Travel International Investment Hong Kong Limited ("HKCTS International Investment"), an affiliate of The China National Travel Service (HK) Group Corporation ("HKCTS"), has recently completed the signing of Detian Waterfall Project. With a total investment of RMB1.45 billion, the project will be operated by HKCTS International Investment. Located on the Sino-Vietnamese border in Daxin County, Chongzuo City, Guangxi Zhuang Autonomous Region, China, the Detian Waterfall adjoins the Ban Gioc Waterfall on the Vietnamese side. It is known as Asia's largest transnational waterfall and national AAAAA level scenic spot in China. By leveraging the local rich resources and huge development potential, the project will help to enhance HKCTS's business base and market power in natural and cultural attractions which will also contribute as a new revenue generator. Looking ahead, HKCTS International Investment aims to uplift products by focusing on waterfall landscape, eco resort experience, transnational culture appreciation and night entertainment to further meet the market demands.

About HVS

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.

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