Global hotel pulse: Asia/Pacific news
Global hotel pulse: Asia/Pacific news
30 NOVEMBER 2016 8:15 AM

In this week’s roundup of news from the Asia/Pacific region: Hoshino Hotels expanding beyond Japan; a new hospitality platform in Vietnam; October 2016 performance data; and more.

Hotel News Now each week features a news roundup from a different region of the world. Today’s review covers the Asia/Pacific region.

Hoshino focuses on Japanese tradition, expanding reach
Japan’s Hoshino Resorts is moving forward with its global expansion plans with the construction of a Hoshinoya property in Bali, Indonesia, set to open in early 2017, according to HNN’s Terence Baker. The company opened its first international property, the Hotel Kia Ora Resort & Spa in French Polynesia, last year through a management agreement.

The company currently has 33 properties in Japan, but executives said there are plans to open more properties domestically and internationally. Its three brands are Hoshinoya, a contemporary resort brand; Kai, a collection of traditional ryokan inns with hot springs; and Risonare, a premier resort with family entertainment and leisure.

Warburg Pincus, VinaCapital debut $300m hotel platform
Global private equity firm Warburg Pincus has partnered with VinaCapital, a private equity firm in Vietnam, to create a “fully integrated hospitality platform” focusing on hotel development, acquisitions and operations in Southeast Asia, according to a news release.

The joint venture will initially be seeded with about $300 million of capital commitments from the two partners as well as hospitality assets, including a 100%-stake of Vietnamese hotel management company Serenity Holdings. The goal is to grow its asset base through “acquiring, repositioning and enhancing well-located city hotels in key tier-1 cities and developing luxury resorts in leading resort destinations across Southeast Asia.”

STR: Asia/Pacific hotel performance for October 2016
Hotels in the Asia/Pacific region reported nearly flat year-over-year performance for October 2016 in the three key performance metrics when reporting in U.S. dollar constant currency, according to data from STR, HNN’s parent company.

The region saw a 0.5% increase in occupancy to 71.3%, but average daily rate dropped 0.4% to $103.77, resulting in revenue per available room increasing only 0.1% to $74.02.

India experienced its first month of occupancy decline since November 2015, dropping -4.6% to 59.4%. ADR increased 1.4% to 5,865.97 Indian rupees ($85.47), but RevPAR still fell 3.2% to 3,484.48 rupees ($50.77).

New Zealand is on track for a second year of double-digit RevPAR growth after occupancy grew 3% to 80% and ADR increased 12.9% to 175.92 New Zealand dollars ($125.31). As a result, RevPAR grew 16.3% to NZ$140.79 ($100.29).

Deals and developments

  • Rosewood Hotels & Resorts announced it will open the Rosewood Hong Kong, a 398-room property taking up 27 stories of the former New World Centre building on Victoria Harbor, in 2018.
  • AccorHotels announced it opened the 101-room Hotel Formule1 Nashik and the 132-room Hotel Formule1 Chennai OMR in India.
  • New Century Hotels & Resorts signed two hotel developments, the Daide New Century Hotel Tongxiang and the Zhili new Century Hotel Baoding, in China.
  • Deutsche Hospitality opened the 281-room IntercityHotel Qingdao, the first of the brand in China.
  • Fern Hotels opened the 89-room Fern Goregaon in Mumbai, Maharashtra.

Compiled by Bryan Wroten.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.