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Asia-Pacific

India’s ITC May Sell Its Hotel Unit

Alan Woinski

July 6th, 2023


Skift Take

  • The Philippines Department of Tourism surpasses its tourist arrival target for 2022 and sets a higher goal of 4.8 million tourists for 2023.
  • Banyan Tree Group expands its portfolio with new hotel openings in Vietnam and Japan, along with plans for future properties in various countries.
  • ITC considers demerging its hotels business and exploring alternative business structures after a strong recovery in the industry, with plans for separate listing of the hotel section.

The Philippines Department of Tourism said they have already beaten last year’s full tourist arrivals target. As of June 26, the DOT said visitation was 2.64 million which is above the 1.7 million tourist goal set for 2022. The DOT is targeting 4.8 million tourists for the year 2023 as part of its National Development Plan. South Korea is the leading source visitor market for the Philippines with nearly 25% of the arrivals followed by the US and Australia.

Banyan Tree Group announced its seventieth property milestone with the recent openings of Angsana Ho Tram and Dhawa Ho Tram in Vietnam as well as Folio Sakura Shinsaibashi Osaka and Homm Stay Yumiha Okinawa in Japan, all unveiled in June. For Vietnam next up will be the opening of Angsana Quan Lan scheduled for next year. The two Japan hotels are the first in a planned global collection of micro-hotels under the new Folio and Homm brand extension, following the Group’s debut in Japan last year. Future plans include adding Banyan Tree Higashiyama, Banyan Tree Ashinoko Hakone and ski resort Cassia Niseko to its portfolio in the country. More micro-hotels under the Folio brand will open in gateway cities and urban centers in the years to come. Banyan Tree is also on track to launch Garrya Bianti Yogyakarta in Indonesia, Garrya Mu Chang Chai in Vietnam, Garrya Xianju and Dhawa Dalian in China and Homm Chura Samui in Thailand, all before the end of this year.

ITC is looking at finalizing the long-standing proposal for demerging its hotels business, which it shelved during the pandemic. The Indian tobacco and hospitality conglomerate is considering a separate listing of the hotel section. They are thinking of an alternative business structure for its hotel business after a strong recovery in the industry. In the past 12 months, ITC has opened nearly one hotel every month, led by their asset right strategy.

It appears the Raffles at Galaxy Macau opening that was spotted by local media was a friends and family opening. Galaxy Entertainment Group announced they plan to hold an official soft opening of Raffles on August 16 with an official grand opening planned for last 2023. Galaxy said what is going on now is a “first look” at several dining venues this month. 

The upcoming Como Orchard, a concept by the Como Group, will set the stage for Singapore’s finest fashion, lifestyle, and hospitality offerings. The 19-story Como Orchard is nestled in the heart of Orchard Road. Embarking on a phased opening starting this September, Como Orchard’s first offering is the Como Metropolitan Singapore, a 156-room hotel featuring facilities such as a tranquil rooftop pool and bar. Como Orchard is home to Como Shambhala wellness sanctuary and Como Cuisine.

The Bussleton Beach Resort in Perth, Australia, has changed hands following the end of a 40-year timeshare arrangement. The resort was built in the early 80s with the 1.7ha Marina Terrace site offering 208 meters of coastal frontage and four direct points to Bussleton’s Geographe Bay. The resort is located 4km from Bussleton Jetty and town center and comprises 32 two and three bedroom self-contained villas with a kitchen, living and dining areas, car, caravan and boat parking. Leisure amenities include tennis, squash, basketball courts as well as a mini putting and bowling green, an outdoor heated pool and spa and a gym and sauna. CBRE brokered the sale on behalf of private vendors who took back the property after the end of the timeshare arrangement.

SKS Group announced the scheduled opening of Sheraton Johor Bahru at Jalan Storey in JohorMalaysia’s capital city in 2025. The 345-room hotel will form part of a mixed-use development by SKS, comprising a retail podium and office spaces. SKS signed a management agreement with Marriott International to launch the Sheraton brand in Johor Bahru. The signing represents the second property in partnership with Marriott, following the opening of Four Points by Sheraton Desaruin 2021. The Johor hotel will be located adjacent to well-connected transportation hubs like the Johor Bahru Sentral Bus Terminal and the Bukit Chagar Johor Bahru – Singapore Rapid Transit System station, expected to open in 2026. The hotel is expected to feature a spacious ballroom as well as flexible and fully equipped meeting room spaces.

Discovery Hospitality Corp is opening a new five-star resort hotel in the Island Garden City of Samal, Davao, in the Philippines this month. The resort is located 5 minutes away from Davao City and features nine private villas, each with their own dipping pool. It also offers 128 hotel suites, 15 executive suites and the Grand Signature Suite. Discovery Samal features the biggest stretch of resort beach in Samal Island as well as an infinity pool. The resort has several restaurants with another specialty restaurant expected to open shortly. Discovery Samal is the first and only Discovery Resort brand in Mindanao with the biggest resort convention facilities in Davao.

DoubleDragon Corp announced its Hotel of Asia Inc. unit had acquired the necessary permits to start selling units in its Libis, Quezon, property, also in the Philippines. Hotel of Asia has begun preselling for the location and expects to generate P4.9 billion in unit sales. The Hotel101-Libis Bridgetowne units are being sold as having flexibility as unit owners are able to directly and perpetually own a real estate hard asset through the full ownership of the unit through a condominium title. The new Hotel101 location is expected to be complete by 2026. The Libis property is expected to have about 702 rooms, the largest hotel in Quezon City. Amenities are expected to include a gym, outdoor infinity pool, all-day dining, business center and function rooms.

Personnel Moves

H World, the shareholder of Deutsche Hospitality, appointed Oliver Bonke, CEO of Deutsche Hospitality, as CEO of H World International. Bonke will focus on the company’s growth and commercial success outside of its core market of China. Choon Wah Wong was appointed as Managing Director of Steigenberger Hotels GmbH/Deutsche Hospitality and SVP Finance of H World International with an official start date of October 1, 2023. Wong joins the company from Shangri-La International Pte Ltd in London where he was most recently Co-Head for the Middle East, Europe, India and America region. Wong is succeeding Dr. Ulrich Johannwille, Deutsche Hospitality’s former CFO and Managing Director who decided to leave the company at the end of March.

Alan Woinski

July 6th, 2023

Companies: Accor, Banyan Tree, Como Group, Discovery Hospitality Corp, DoubleDragon Corp., Four Points by Sheraton, H World Group Limited, Hotel101, ITC Hotels, Marriott International, Raffles, Sheraton Hotels & Resorts

Locations: Dalian, Macau, Malaysia, Okinawa, Philippines, Quezon, Singapore, Vietnam

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