• Thu
  • Dec 18, 2014
  • Updated: 6:08am


Hotel investments in Asia triple in value in 2013

Mainland Chinese tourists are powering the hotel industry in the Maldives. Photo: SCMP

Hotel investments in Asia soared 218 per cent last year from 2012 to US$7.5 billion, defying industry expectations, figures from property firm JLL show. This made 2013 the strongest year since 2007, when the volume of transactions reached US$10.3 billion.

Monday, 17 March, 2014, 5:02pm

India's luxury hotels swap global brands as revenues slump

Starwood, which runs St Regis hotels like the one in Abu Dhabi, above, is in talks to add the former Mumbai Shangri-La to its portfolio. Photo: SCMP Pictures

Less than nine months after opening the first hotel in Mumbai under its brand, Hong Kong luxury chain operator Shangri-La Asia handed the keys back to the owner.

12 Feb 2014 - 3:27pm

Hilton Worldwide listing hopes to raise US$2.37 billion

Hilton has more than 4,000 properties worldwide. Photo: Reuters

Hilton is offering about 64.1 million shares, and selling shareholders are offering 48.7 million shares. Selling additional shares to banks could put the initial public offering's proceeds at as much as US$2.72 billion.

4 Dec 2013 - 1:55am

Chow Tai Fook guarantees HK$707m hotel dividend

Chow Tai Fook guarantees HK$707m hotel dividend

New World Development and its controlling shareholder, Chow Tai Fook Enterprises, have agreed to guarantee a minimum HK$707 million first-year payout from the proposed spin-off of the group's hotel subsidiary.

10 Jun 2013 - 5:18am

Fosun takes China holiday with Club Med

Club Med is still a particularly strong brand with decades of experience in the business. Photo: AFP

A global buying spree by cash-rich Chinese investors has taken a turn onto the tourist map, with word that Fosun International is taking part in a bid to purchase France's Club Med.

28 May 2013 - 6:29pm

Art fair experts share why hotels make good gallery spaces

Hotel art fairs are the antithesis of the "white cube" concept for a gallery space, and some consider it decidedly unfashionable. But proponents see it as a convenient and cost-efficient model.

20 May 2013 - 9:24am

Hoteliers' anger at steep rises in property rates

Michael Li Hon-shing. Photo: Edward Wong

The Federation of Hong Kong Hotel Owners has demanded an explanation from the Rating and Valuation Department, saying the rises will add to pressure on the industry, especially after a sluggish "golden week" holiday.

8 May 2013 - 5:46am

Investors snap up serviced apartments in Dubai hotel boom

Apartment tower blocks have sprouted along the Jumeirah beach district in Dubai. Photo: Reuters

It took Damac Properties just one day to sell the first 200 apartments in its Hollywood-themed apartment and hotel project as buyers seized the opportunity to invest in Dubai's booming tourism market.

8 May 2013 - 2:33am

Avian visitor curries favour with Hong Kong

Hong Kong people have taken to their latest giant visitor like a duck to water. Photo: George Chen

That duck - don’t pretend you don’t know the one I’m talking about - is the talk of the town.

7 May 2013 - 11:47am

New fee put off May Day visitors, Fenghuang hotel operators claim

A visitor takes in the scenic Tuo River near the ancient town of Fenghuang in Hunan province. Photo: Xinhua

Tourism operators in the historic city of Fenghuang, Hunan province, claim the introduction of an entry fee caused a sharp drop in visitors over the three-day May Day holiday.

5 May 2013 - 5:32am

New World joins hotel spin-offs trend

Adrian Cheng Chi-kong, New World joint general manager

New World Development has submitted a listing application to the Hong Kong stock exchange to spin off its three hotels in the city, a plan it announced in March.

3 May 2013 - 4:22am

Boom in local boutique hotels not abating

Girish Jhunjhnuwala, founder of the Ovolo Hotel Group. Photo: Jonathan Wong

He looks very much at home in the newly opened Ovolo 2AR hotel in Central. That's not just because Girish Jhunjhnuwala heads the group running the joint, but because anyone would feel at home here.

29 Apr 2013 - 9:23am

Shui On Land to convert Shanghai hotel into flagship retail store

Vincent Lo Hong-shui, Shui On chairman

The conversion of a luxury boutique hotel in a historical district of Shanghai into a multi-storey flagship retail outlet will be the first project to be tackled by China Xintiandi, a commercial property unit to be spun off by Hong Kong-listed Shui On Land.

24 Apr 2013 - 5:20am

Shangri-La Asia to add nine new hotels

Kowloon Shangri-La in Tsim Sha Tsui.

Luxury hotelier Shangri-La Asia plans to add nine new hotels, including one in Hung Hom, it said yesterday after posting a 42 per cent year-on-year increase in net profits.

Net profits for the year to December 2012, including a US$185 million revaluation gain on investment properties, rose to US$358.9 million.

22 Mar 2013 - 4:44am

China Travel on spending spree in new game plan

Travel agency revenue rose 6 per cent for the tourism operator.

China Travel International Investment Hong Kong says it will ramp up capital expenditure to HK$2.6 billion this year from HK$600 million as part of its new strategy to invest more in hotels and property.

22 Mar 2013 - 4:19am