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Hotels & Hospitality Group | March 2015

Hotel Destinations Asia Pacific

Welcome to the March 2015 edition of our Hotel Destinations Asia Pacific publication, a biannual overview providing a snapshot of key hotel markets around Asia Pacific.

As you browse through this guide, you will find a selection of notable hotel trends, recent transactions, upcoming new projects and a summary of key market statistics for each destination.

Enjoy the read and look out for the next edition!

Scott HetheringtonChief Executive Officer, AsiaJLL Hotels & Hospitality Group

Craig CollinsChief Executive Officer, AustralasiaJLL Hotels & Hospitality Group

Beijing

SeoulTokyo

OsakaShanghai

Taipei

Hong KongMacau

Singapore

KualaLumpur

PhuketHo ChiMinh

ManilaBangkok

YangonHanoiMumbai

Delhi

BaliJakarta

Sri Lanka

Seychelles

Maldives

AucklandMelbourne

Sydney

03Hotel Destinations Asia Pacific

Contents

36Quick Facts

08

38

City Profiles

Contributors

10 Hong Kong11 Macau12 Singapore 13 Kuala Lumpur14 Sydney15 Melbourne16 Auckland17 Manila18 Seoul19 Taipei20 Tokyo21 Osaka22 Shanghai

06

04

08

23 Beijing24 Bangkok25 Phuket26 Mumbai27 Delhi28 Ho Chi Minh City29 Hanoi30 Bali31 Jakarta32 Yangon33 Seychelles34 Maldives35 Sri Lanka

The Rise and Rise of Bali

Asia Pacific’s Key Destinations

A Sporting Nation

A Sporting Nation

Major sporting events profiting Australia’s hotel industry


The Cricket World Cup and the Asian Cup are just two major sporting events that have benefited the hotel industry enormously around Australia in the first quarter of 2015.

The economic benefits are expected to reach in the multi-millions of dollars as more than 100,000 tourists visit Australia amidst nine weeks of sporting action.

The expected TV audiences for both the Asian Cup and Cricket World Cup are anticipated to topple more than two billion, therefore exposing Australia to new potential tourists.

That’s on top of the recently completed Australian Open (tennis), the forthcoming F1, Super Rugby and the domestic AFL and NRL seasons about to kick off.

With events played around the country, hotels of all shapes and sizes can count on an increase in guests and therefore extend an opportunity to promote their customer loyalty programmes.

Tourism Research Australia’s (TRA) International and National Visitor Survey reports, released in December 2014, reveals that international visitors grew at 8% over the year-to-date September 2014, the fastest growing rate in a decade, while domestic visitor nights rose by 7% for the same period, the fastest growth rate in two decades.

But Australian hotels shouldn’t be relying on international sporting events hitting our shores or fluctuations in our currency to boost accommodation numbers and revenue per room.

“Hotel operators recognise the need for building brand loyalty so that no matter what is happening in Australia, people will always choose to stay at their hotels. ” Ross Beardsell, Senior Vice President - Strategic Advisory, JLL Hotels & Hospitality Group, said.

“Successful brand loyalty programmes combined with innovative marketing of services to individuals and corporate groups can ensure that hotels are always growing an increased share of business.

“Furthermore, by establishing strong brand loyalty relationships with frequent individual travellers, combined with corporates who are looking to stage conferences, events and meetings, hotel operators can gain great reward from the services they offer, and moreover increase owner’s returns.

“Most people are conservative by nature and would prefer to stay somewhere that they know and can trust, so if hotel operators can establish a strong rapport with any frequent individual travellers and corporate groups they should grow their market share accordingly.”

Combined with a falling Australian dollar, TRA forecasts a continued increase in tourism in 2015 and beyond, with Chinese tourists becoming the most lucrative, spending more and staying longer, than any other international tourist.

A lower Australian dollar also encourages locals to travel more domestically.

“There are many positives for the hotel industry in the future,” Mr Beardsell says.

“Every hotel in Australia can market their additional services to increase additional spend from their visitors, whether they be local or international. Hotels can tailor packages to individual and corporate needs that will not only increase brand loyalty but also their occupancy rates.” Mr Beardsell said.

“Now is the time to capitalise on growing visitor numbers.”

“Hotel operators recognise the need for building brand

loyalty so that no matter what is happening in Australia, people

will always choose to stay at their hotels,”

Ross Beardsell, Senior Vice President Strategic Advisory, JLL Hotels & Hospitality Group

The Rise and Rise of BaliBali’s hospitality sector is booming, tourism is rising and Bali’s future success seems assured


In many ways, Bali is the holiday destination that has it all. Feted for its immense beauty and deep-rooted Hindu/Animist culture, the little island near the geographical heart of the Indonesian archipelago attracts a steady flowing stream of visitors looking to sample its heady ambrosia.

From thrill-seeking surfers in hunt of the perfect break and nightlife enthusiast enticed by the island’s many beach clubs and bars to more cerebral types in quest of stimulation for the body and mind in bohemian hubs such as Ubud, Indonesia’s premier tourist draw satisfies all sorts.

“There are few destinations that can cater quite so capably for such a wide range of demographics,” agrees Djodi Trisusanto, Chief Representative for Hotel Development in Indonesia for Marriott International. “Those who like nightlife, beaches and shopping can opt for Kuta, Legian and Seminyak. Nusa Dua is better for families due to its host of kid-friendly resorts. Ubud is a cultural destination with some fantastic resorts while the rest of island offers everything from river rafting to hiking. Quite simply, there’s something for everyone.”

There’s certainly no denying the variety of experiences that Bali can offer. Historically much of the development has been focused on South Bali. This part of the island is home to the buzzing beach enclaves of Seminyak, Legian and Kuta as well as quieter, higher-end destinations such as Sanur and Nusa Dua. Further north, the town of Ubud is recognized as the spiritual home of Balinese culture.

Yet, outside these main tourist areas, the island remains largely untouched, with fantastic scenery, excellent beaches and cultural attractions to spare. This extra scope for development means that saturation point outside South Bali remains a long way off.

Given its wide-ranging appeal it is no surprise that the so-called “Island of the Gods” continues to witness extraordinary growth in popularity. In 2014, international visitors arriving via the island’s Ngurah Rai airport rose to 3.73 million, an increase of 15% from the previous year. With Indonesian visitor numbers up 12% to a total of 6.05 million in 2014, it is clear that Bali’s magnetic qualities are as compelling to a domestic audience as they are to those from abroad.

Indonesia’s tourism authorities have ambitious plans to grow the country’s international visitor numbers to 20 million by 2020 from a current figure of approximately 9 million. And experts believe that Bali – the undisputed jewel in the nation’s tourism crown – will be key to realizing these aspirations.

“Although Indonesia can still be considered an emerging economy, many investors now consider Bali hotel real estate to be an established investment,” states Adam Bury, Vice President - Investment Sales Asia at JLL Hotels & Hospitality Group. “An apt comparison would be Phuket in Thailand, which also has a well-established brand, developed infrastructure and an impressive portfolio of properties from ultra-luxurious to more affordable options.”

“Bali is rightly seen as very solid bet,” continues Bury. “Rules for investment are relatively transparent compared to other countries in the region and the Indonesian government is highly supportive of further growth.”

Bali’s infrastructure has improved significantly in recent years with major achievements including the refurbishment of the international airport and the construction of the Bali Mandara toll road, linking Kuta with Nusa

Dua. However, with visitor numbers set to boom, the completion of even further new infrastructure projects is seen as being key to Bali’s continued success.

Construction of a new international airport in the north of the island has been green-lighted by the authorities. Approval has also been granted for the improvement of roads linking South Bali and the capital Denpasar to East, West and North Bali – a move seen as the most essential requirement to harnessing the untapped potential for development in the remoter areas of the island.

“The Indonesian government has a good record for putting its money where its mouth is as far as developing infrastructure in Bali is concerned,” comments Dan Miller, Head of the Bali Office for JLL. “It stepped in to expand the airport and build new roads ahead of the APEC conference in Bali in 2013 and if tourist numbers continue to rise at the current rate, further improvements will have to be made.”

“One of the ways in which we can see Bali evolving is as a base for a multi-destination holiday in this part of Indonesia. Visitors would arrive and depart from Bali as a principal gateway to explore Indonesia, and use it as a jumping off point to neighboring islands such as Java, Lombok, Sumba, Flores, and Raja Ampat. The idea is to market the areas within a 1-2 hour flight time as “Greater Bali”. If that tactic is to be a success, there needs to be significant improvements in the marine tourism and transportation segments, which is also receiving substantial support from the current administration. Accessibility to the myriad of islands and diversity which Indonesia has to offer will be its ultimate driver for success in sustainable tourism growth.”

Yet while infrastructural challenges such as road access and occasional water and electricity shortages remain, Bali’s future success seems assured.

This is also reflected by a host of new air routes linking the island to Mainland China and the Middle East. Meanwhile, as of January 2015, visa-free entry is now granted to nationals from Japan, South Korea, Mainland China and Russia, a sign of the government’s desire to grow new markets beyond Bali’s traditional base of Australian tourists, who constituted 25% of international arrivals in 2014.

“Bali is maturing as a destination and the hotel market is maturing also,” adds Miller. “Previously there was not a whole lot of trading, but now property owners are considering selling at reasonable market values. Ally this with the variety on offer and Bali’s dynamism as a destination and it is clear there is plenty of scope for further growth.”

“There are few destinations that can cater quite so capably

for such a wide range of demographics”

Djodi TrisusantoChief Representative for Hotel Development in Indonesia, Marriott International

Beijing

SeoulTokyo

OsakaShanghai

Taipei

Hong KongMacau

Singapore

KualaLumpur

PhuketHo ChiMinh

ManilaBangkok

YangonHanoiMumbai

Delhi

BaliJakarta

Sri Lanka

Seychelles

Maldives

AucklandMelbourne

Sydney

Asia Pacific’s Key Destinations

Hotel Destinations Asia Pacific08


Asia Pacific Top 10 Single Asset Transactions in 2014 2014 Key Metrics

Average price per key:

USD 221,000

Number of keys traded:

34,000

CITY COUNTRY PRICE / KEY (USD)HOTELRANK PRICE (USD)

1 Sheraton on the Park Sydney Australia 398.2 million 714,865

3 Shanghai JC Mandarin Hotel Shanghai China 338.9 million 659,300

6 Sofitel Sydney Wentworth Sydney Australia 190.9 million 437,959

8 Hilton Hua Hin Resort Hua Hin Thailand 98.7 million 331,168

2 Marriott Executive Apartments Tomorrow Square Shanghai China 386.7 million 1,631,742

5 Sofitel Sydney ICC Sydney Australia 318.7 million 536,587

4 Tokyo Bay Maihama Hotel Club Resort Tokyo Japan 343 million 487,909

7 Mercure Tokyo Ginza Tokyo Japan 117.6 million 565,365

10 Sheraton Noosa Resort & Spa

Noosa Heads Australia 90.5 million 514,125

9 Park Hyatt Melbourne Australia 94.1 million 392,229

of all deals were cross border

Cross-borded transactions:

2/3 Source: JLL Note: Only arm’s length transactions considered

Across Asia Pacific in 2014

in hotel transactions

USD 7.5 BILLION

throughout the region146 DEALS


HIGHLIGHTS

Hong KongHong Kong is much more than a harbour city. The traveller weary of its crowded streets should not forget that this territory with its cloudy mountains and rocky islands is mostly a rural landscape. The popularity with inbound visitors from the Mainland continues to drive Hong Kong’s hotel pipeline with recent government forecasts suggesting a necessary doubling of hotel room numbers in the coming decade. Hong Kong has long been a gateway between East and West and the result is an intoxicating mix of Chinese and Western history, commerce, culture and cuisine. The hospitality scene is equally dynamic from luxury hotels within skyscrapers to smaller midscale options and boutiques.

Tourism Demand Supply Outlook

Despite political unrest, total visitor arrivals in 2014 increased 12.0% y-o-y to reach 60.8 million. Mainland China remained the largest source market (78% of total visitor arrivals) growing 16.0% y-o-y. Short haul markets grew

and long haul markets declined, both by marginally below 0.1%.

Hong Kong is an attractive leisure destination due to its numerous

shopping and entertainment options. As a leading financial centre, corporate

travel is another major demand generator for Hong Kong due to the

favourable business environment and close proximity to Mainland China.

Approximately 2,553 rooms are expected to enter the market in 2015. As at the end of 2014, Hong Kong had 230 hotels comprising 71,767 rooms. 1,750 new hotel rooms were opened throughout the year and consisted

of a mix of international and independent operators.

Mainland Chinese demand has diversified, shifting away from midscale

and budget tour groups towards more high-end leisure and corporate

travellers. Performance outlook is expected to remain stable, with

marginal improvements to ADR and occupancy supported by demand from leisure, corporate, and MICE as well as

the return of tour groups.

Hotel sávBest Western HotelEmperor HotelThe Kush HotelHoliday Inn Express Mongkok

UPCOMING HOTELS

NEW HOTELS

iClub Fortress Hill Hotel

iClub Sheung Wan Hotel

Ovolo Hotel Southside

Somerset Victoria Park Hong Kong

Dorsett Tsuen Wan Hotel

QUICK FACTS

rooms338

rooms248

rooms162

rooms92

rooms548

Mercer by Kosmopolito – HKD 545 millionPrintemp Hotel Apartment – HKD 340 million

NOTABLE HOTEL DEALS

Note: Hong Kong Hotels refers to Luxury stock only.Source: STR Global (YTD December 2014), Hong Kong Tourism Board, JLLADR - Average daily rate, RevPAR - Revenue per available room

60.8 millionInternational Visitor

Arrivals 2014

1,750 roomsNumber of New Rooms

2014 Revenue per Available

Room (RevPAR)

HKD

2,896HKD

3,689Average Daily

Rate (ADR)

78.5%Occupancy


MacauTake a stroll along the cobbled streets of today’s Macau, and you will find European influences interspersed with its Chinese heritage. This is due to the Portuguese traders who established a settlement in Macau during the 16th century, and subsequently administered the region for over 400 years. Since the handover in 1999, the Macau government shortly liberalised gambling licenses in 2001, stimulating the launch of several gaming investment projects after the issue of three licenses in 2002. Before the opening of Macau’s very first foreign-funded casino in 2004, Macau only held 9,000 hotel rooms. Today it nears 30,000.


Total visitor arrivals in 2014 reached a record high of 31.5 million, representing a 7.5% increase y-o-y driven by Macau’s primary source market Mainland China. 54% of total visitor arrivals were same-day. The average length of stay in 2014 remained on par with 2013 at 0.9 day.

Macau’s top three source markets were Mainland China, Hong Kong and Taiwan,

together contributing around 90% of total visitor arrivals. For the year 2014, visitors from Mainland China rose by

14% y-o-y, while those from Hong Kong and Taiwan decreased by 5%.

While there were no hotel openings in 2014, the 200-room Crowne Plaza

Macau opened early this year. In the next three to five years, there are a significant number of hotel rooms

scheduled for completion, with around 12,000 confirmed hotel rooms in

the pipeline.

Macau’s gambling revenue dropped in 2014, the first time in twelve years.

Rather than relying heavily on gambling revenue going forward, the government

will diversify Macau’s economy by developing the city into a major tourist

destination. The focus on tourism along with improved relations with Mainland

China is expected to benefit the hotel market.

There were no hotel transactions in 2014

NOTABLE HOTEL DEALS

JW Marriott MacauSt Regis Macau Cotai CentralHollywood Roosevelt MacauRitz Carlton MacauAscott Macau

UPCOMING HOTELS

NEW HOTELS

QUICK FACTS

HIGHLIGHTS

Note: Macau Hotels refers to Luxury stock only.Source: STR Global (YTD December 2014), Macau Government Tourist Office, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014

NoneNumber of New Rooms


Room (RevPAR)

MOP

1,559MOP

1,721Average Daily

Rate (ADR)

90.6%Occupancy

Crowne Plaza Macau

rooms200rooms


HIGHLIGHTS

SingaporeRanked by the World Economic Forum as Asia’s best tourism and aviation hub, Singapore is poised to capitalise on the region’s booming tourism industry. Asian travellers are projected to account for at least half of global tourism expenditure by 2020 and Singapore’s combination of leisure, retail and business opportunities is sure to guarantee the Lion State more than its fair share of the growth. The city state’s hotel market peaked in 2013 with the sale of Grand Park Orchard hotel and Knightsbridge retail, the city’s largest single asset sale, which pushed transaction volumes to more than 10 times those recorded in 2012.


International visitor arrivals to Singapore shrunk to 15.1 million in 2014,

a 3.1% decline over 2013 and failing to achieve the forecast of 16.3 to 16.8 million arrivals set by the Singapore Tourism Board (STB). This marks the

first time since 2009 that visitor arrivals to Singapore have fallen.

According to the Singapore Tourism Board (STB), Mainland Chinese visitor

arrivals, the second largest source market for Singapore, faced a 25.4% y-o-y decline as at November 2014. This was primarily due to a spate of negative events in the South East

region, including the disappearance of Malaysia Airlines flight MH370, political

tensions in Thailand and anti-China demonstrations in Vietnam.

The 502-room Hotel Jen Orchardgateway, which opened in September 2014, was the first ever “Jen” branded hotel to debut in the

world. Shangri-La International Hotel Management Ltd also announced the

rebranding of the Traders Hotel on Cuscaden Road to Hotel Jen Singapore.

This brings the total number of Hotel Jen room keys in Singapore to

over 1000.

The STB acknowledges that its 2015 target of 17 million visitors (set in 2004) - will probably not be met this year as the uncertain global economy and currency volatility looks likely to impact tourism. STB will also aim to ramp up marketing efforts in major tourism markets to drive demand, targeting secondary cities in China and Indonesia, and marketing Singapore as a solo destination to

decrease dependency on multi-tour destination travellers.

South Beach Hotel & ClubJurong Lake HotelHotel Grand Chancellor OrchardPark Hotel AlexandraMidlink Hotel

UPCOMING HOTELS

NEW HOTELS

Holiday Inn Express Clarke Quay

Parc Sovereign Hotel Tyrwhitt

One FarrerHotel & Spa

Sofitel So Singapore

Hotel Jen Orchardgateway

QUICK FACTS

rooms442

rooms270

rooms243

rooms134

rooms502

Hotel Grand Chancellor – SGD 248 million

NOTABLE HOTEL DEALS

Note: Singapore Hotels refers to Luxury stock only.Source: STR Global (YTD December 2014), Singapore Tourism Board, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

SGD

329SGD

410Average Daily

Rate (ADR)

80.3%Occupancy


Kuala LumpurKuala Lumpur is an endearing contradiction, from its colonial and Moorish buildings to grand Western-styled shopping malls and office towers. The city is helped by its relatively low cost – Trip Advisor in 2013 ranked it the seventh least expensive of major world cities for a night out – as well as its Islamic heritage which draws visitors from across the Muslim world. Kuala Lumpur has faced many tourism challenges in 2014 but will continue to lift demand along with the growth of its low cost carrier network, which will further develop the city as a global tourism and aviation hub.


Kuala Lumpur, the capital city of Malaysia, is predominantly a corporate market with strong weekday business and relatively limited leisure demand, except for weekends. Malaysia has

moved up in the global business rankings from 12th to 6th position,

according to the World Bank’s 2014 Doing Business Report which assesses

the ease of conducting business in the country.

According to Tourism Malaysia, international visitor arrivals reached

25.7 million in 2013, representing growth of 2.7% y-o-y. Despite the negativity surrounding the country’s national

airline carrier and the consequential fall in inbound Chinese travellers,

international visitor arrivals continue to grow. YTD October 2014 was 22.9 million

(up 9.6% y-o-y).

Additions to hotel supply were limited in 2014 with 739 hotel rooms and 160 serviced apartment units opening in

the city. The majority of the new supply is focused in KL Sentral and KLCC (the

Golden Triangle). JLL forecast that around 4,700 hotel rooms and 1,700

serviced residence units are likely to enter the market from 2015 to 2018.

Tourism Malaysia is trying to recover Mainland Chinese arrivals, sourcing marketing partnerships with airlines

and working with outbound operators to arrange for chartered flights. The

intention is to offer more direct flights to Kuala Lumpur and secondary

destinations such as Penang, Langkawi and Kota Kinabalu.


NOTABLE HOTEL DEALS

St. RegisD’ Majestic by Swiss GardenRitz Carlton ResidencesFour Seasons PlaceMövenpick Hotel & Convention Centre KLIA

UPCOMING HOTELS

NEW HOTELS

Fraser Residence

QUICK FACTS

rooms445rooms

HIGHLIGHTS

Note: Kuala Lumpur Hotels refers to Luxury & Upscale stock only.Source: STR Global (YTD December 2014), Malaysia Tourism Board, JLLADR- Average daily rate, RevPAR - Revenue per available room


Arrivals 2014(YTD October 2014)

739 roomsNumber of New Rooms


Room (RevPAR)

MYR

360MYR

492Average Daily

Rate (ADR)

73.3%Occupancy


HIGHLIGHTS

SydneySydney is the major gateway to Australia and a key hub for the Asia Pacific region. Famous for its harbour, the city offers extensive shopping, entertainment and dining experiences as well as countless surf beaches within the wider metropolitan area. The city also boasts a large domestic visitor segment, being both the primary corporate centre in Australia and key leisure destination. This broad demand base will therefore underpin the city’s hotel and tourism market in the coming years whereas major infrastructure projects such as the Barangaroo urban renewal project and the development of the Sydney International Convention and Exhibition Precinct will provide an added boost to the market over the medium to long term.


International visitor nights to Sydney reached 22.6 million YTD September 2014, recording a 5.6% improvement

over the same period in 2013. This was in line with international visitors

increasing by 8% over the same period to 1.6 million visitors.

According to Tourism Research Australia (TRA), China was the most

prominent source of visitor night demand (14.2%) despite an 8.6% decline

over YTD September 2014. In terms of overall visitor night demand, China was followed by the United Kingdom (12.7%), Korea (5.8%) and Taiwan (5.2%). Source markets with the strongest growth were

Malaysia (47.1%), Taiwan (46.5%) and Hong Kong (45.9%), whilst significant

decreases were seen from the United States of America (-25.8%) and

Korea (-17.6%)

No new hotels opened in Sydney City throughout 2014, with only an extension

of Swissotel Sydney (ten rooms) and Base Backpackers (three rooms)

completed.

The outlook for Sydney’s accommodation market remains strong

following the recovery which has been evident over the past four years.

Occupancy levels have reverted to a very high level and ADR growth is strengthening in line with the benign

supply outlook and more stable demand environment, with growth across a

variety of segments including corporate, cruise and inbound.

Tankstream Hotel57 HotelOld Clare Hotel

UPCOMING HOTELS

NEW HOTELS

No new hotels opened in Sydney during H2 2014.

QUICK FACTS

Sheraton on the Park, Sydney – AUD 463.0 millionSofitel Sydney ICC Hotel – AUD 341.0 millionSofitel Sydney Wentworth – AUD 201.0 millionHotel 1888 – AUD 32.8 millionBlue Sydney – AUD 32.0 million

NOTABLE HOTEL DEALS

Source: STR Global (YTD December 2014), Tourism Research Australia, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014(YTD September 2014)



Room (RevPAR)

AUD

198AUD

228Average Daily

Rate (ADR)

87.1%Occupancy


MelbourneMelbourne is Australia’s second most populous city and a major corporate centre notably the financial, manufacturing, education and logistics industries. Melbourne is renowned for its extensive annual calendar of festivals, exhibitions and major sporting events. Increased domestic and international visitation, as well as investment in tourism, convention and sporting infrastructure has underpinned investor confidence and Melbourne has emerged as Australia’s accommodation development hot spot over the past ten years. Melbourne has the newest and largest Convention and Exhibition facility in Australia following the opening of the Melbourne Convention and Exhibition Centre (MCEC) in 2009.


International visitor nights to Melbourne City reached 14.8 million in the year to

date September 2014, recording a 4.2% improvement over the same period in

2013. This was in line with international visitors increasing by 11.4% over the same period to one million visitors.

According to Tourism Research Australia (TRA), China was the most prominent source of visitor night demand (22.1%)

with a substantial 23.9% increase in visitor nights over the YTD September 2014. In terms of overall visitor night demand, China was followed by the

United Kingdom (9.2%), Korea (5.6%) and Malaysia (5.6%). In relation to growth,

the source markets that increased most rapidly were Germany (73.3%), Thailand (47.1%) and Canada (39.9%), whilst the most significant decreases were seen

from Japan (-50.3%), Indonesia (-22.6%) and Taiwan (-21.0%).

Four hotels opened in Melbourne City throughout 2014, comprising the

Wyndham on William (200 rooms), Sheraton Melbourne (174 rooms), Oaks Pinnacle (37 rooms) and the

Coppersmith Boutique Hotel (15 rooms).

The medium term outlook for Melbourne’s accommodation market remains positive after trading results show continual RevPAR growth over the twelve months to December 2014. RevPAR growth is expected to remain

robust over the next few years with the city expected to increase its share of national MICE demand following the

closure of the Sydney Convention and Exhibition Centre in late 2013.

Park Hyatt Melbourne – AUD 100.0 millionOaks on Lonsdale – AUD 65.0 millionIbis Styles Kingsgate – AUD 30.0 millionThe Albany Hotel – AUD 16.4 millionParade Inn Parkville – AUD 10.75 million

NOTABLE HOTEL DEALS

Hotel Sophia (extension)UPCOMING HOTELS

NEW HOTELS

QUICK FACTS

HIGHLIGHTS

Source: STR Global (YTD Dec 2014), Tourism Research Australia, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014 (YTD September 2014)



Room (RevPAR)

AUD

169AUD

197Average Daily

Rate (ADR)

85.8%Occupancy

Sheraton Melbourne Oaks Pinnacle Coppersmith Boutique Hotel

Wyndham on William

rooms174

rooms37

rooms200rooms rooms

15


HIGHLIGHTS

AucklandAuckland is New Zealand’s largest and most populous city, situated in the upper half of the North Island. It is centred between two harbours, surrounded by 48 volcanic cones and borders the rainforest hills of the Waitakere and Hunua Ranges. Auckland is renowned for being a multi-cultural city and is often referred to as the ‘City of Sails’ due to the popularity of sailing in the region and the dominant feature of Westhaven Marina on the city’s skyline. Media have reported that SkyCity Entertainment Group has acquired the necessary CBD land for the New Zealand International Convention Centre across the road from its Auckland casino and that final design plans for the NZICC are expected to be publicly unveiled later this year. Construction of the NZICC is expected to be completed by late 2017.


International visitor arrivals to New Zealand reached 2.85 million in 2014, a 5.1% improvement over 2013. Over

the past five years (2009 to 2014), international visitor arrivals to New Zealand have recorded compound average growth of 3.1% per annum.

Over the past five years, Auckland’s accommodation market has recorded

strong RevPAR growth, increasing on average by 5.3% per annum, with modest gains in ADR averaging 1.5%

per annum and occupancy rising from circa 70% in 2009 to over 80% in 2014. Auckland reported occupancy levels of 82.2% in 2014, the highest level on record in over 15 years. In 2014, ADR

improved by 5.1% to NZD 147 resulting in revenue per available room (RevPAR)

growth of 9.7% to NZD 121.

A 73 room extension to the existing 125-room Ibis Budget Auckland Airport

Hotel completed during Q4 2014 and an 80-room VR Queen Street Hotel

opened in May 2014. Two hotels are currently under construction, namely the conversion of the Reserve Bank

office building into a 130-room, five-star Sofitel, which is scheduled to open in Q1 2016 and in Manukau (South Auckland), construction is well advanced for a 152-room hotel which will be independently

operated and form part of the wider South Auckland/ Auckland International

Airport competitive set.

We expect the continuation of the balanced demand/ supply fundamentals.

The sound domestic economy and Auckland’s ongoing ability to capture its fair share of the forecast growth

in international visitors is expected to continue into the foreseeable future. These are seen as the main factors

which will continue to drive Auckland’s hotel accommodation market.

Lakewood Court Sofitel So

UPCOMING HOTELS

NEW HOTELS

QUICK FACTS

Hotel Grand Chancellor Auckland Airport – NZD 23.3 million

NOTABLE HOTEL DEALS

Source: NZHC (YTD December 2014), Statistics New Zealand, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

NZD

121NZD

147Average Daily

Rate (ADR)

82.2%Occupancy

Ibis Budget Auckland Airport addition

VR Queen Street Hotel

rooms80

rooms73


ManilaIn the heart of an archipelago of over 7,000 islands, the bustling city of Manila has emerged as a rising regional economic powerhouse, a growing destination for multinational corporations and a flourishing hospitality market with several exciting prospects in the pipeline. The main hospitality project which is set to be completed in 2018 is Manila’s very own integrated gambling and entertainment strip know as Entertainment City. Fashioned on the infamous Las Vegas Strip, Entertainment City will showcase a diverse range of world class facilities, integrated resorts, luxury hotels, state of the art theatres, celebrity-chef-themed restaurants, shopping malls and convention halls. Once completed, this hospitality complex is expected to reach over 10,000 rooms.


According to the Department of Tourism Philippines, international visitor arrivals to the Philippines were recorded at 2.7

million at YTD July 2014, achieving a 2.4% growth over YTD July 2013.

South Korea remained the top source market to the Philippines during YTD

July 2014, with a 24.2% share of visitors. However, this represented a 6.3%

decrease over the same period last year. The majority of the top ten source

markets to the Philippines registered improvements, in particular Mainland

China showed a significant 8.5% improvement during YTD July 2014 with the launch of more direct and chartered

flights as well as growing cruise itineraries.

The supply pipeline in Manila is expected to show significant growth with approximately 6,000 rooms from

2014 to 2018 with the penetration of many international hotel brands

alongside the entry of gaming developments namely Solaire Resort

& Casino Manila (2013), City of Dreams Manila, Manila Bay Resort and Resorts

World Manila Bayshore.

The Department of Tourism Philippines is aiming for ten million international

visitors by 2016. The upcoming pipeline of international branded hotels in the

next few years is also expected to boost tourism demand for Manila and

the Philippines. Along with this, the Department of Tourism is launching its “Visit the Philippines Year 2015”

campaign which should draw more visitors.


NOTABLE HOTEL DEALS

Mercure Manila OrtigasNovotel Manila AranetaRadisson Hotel Manila BayJin Jiang Inn OrtigasJin Jiang Inn Greenbelt

UPCOMING HOTELS

NEW HOTELS

City of Dreams Hyatt

QUICK FACTS

rooms365rooms

HIGHLIGHTS

Note: Manila Hotels refers to Marketwide hotels.Source: STR Global (YTD December 2014), Department of Tourism Philippines, JLL.ADR – Average daily rate, RevPAR – Revenue per available room.


Arrivals 2014 (YTD July 2014)



Room (RevPAR)

PHP

3,767PHP

5,592Average Daily

Rate (ADR)

67.4%Occupancy


HIGHLIGHTS

SeoulAs South Korea’s political, economic and financial hub, Seoul is a bustling metropolitan city in Asia. With its rich heritage and traditions, scenic landscapes and modern infrastructure, Seoul is a major corporate and leisure destination, offering tourists a diverse mix of cultural, entertainment, dining and retail experiences. There has been a significant increase in hotel development against a backdrop of demand growth and limited room supply in recent years.


International visitor arrivals to South Korea recorded a 16.6% growth to 14.2

million in 2014. All major source markets registered improvements in visitation apart from Japan which reflected a

17.0% y-o-y decline in 2014, primarily due to the depreciation of the Japanese

Yen and territorial issues between Japan and South Korea which affected

outbound travel from Japan.

Visitation from the Mainland Chinese market remains robust, showing a y-o-y growth of 41.6% in 2014 and accounting for 43.1% of all arrivals to South Korea. Regional source markets also recorded

strong growth including Hong Kong (+39.4% y-o-y), Thailand (+25.2% y-o-y),

Taiwan (+18.2% y-o-y) and Malaysia (+17.7%).

In 2014, 1,665 new hotel rooms entered the Seoul market. New

supply comprised both domestic and international brands. Lotte and Shilla continue to expand their presence in Seoul with the addition of the Lotte

Hotel City Guro and Shilla Stay Yeoksam. The majority of the new hotel supply

features economy and midscale brands such as Ibis, Aloft and Ramada Encore.

Moving forward, visitor arrivals are expected to continue on the upward

trajectory, particularly regional visitors and Mainland Chinese. South Korea’s

diverse tourism offerings including historical sights, medical tourism, MICE

and corporate travel remain the key demand drivers. The influence from

the ‘Korean Wave’ and easing of visa regulations for major source markets

will also encourage visitation.

Ibis Styles Ambassador Seoul MyeongdongFour Seasons Seoul

UPCOMING HOTELS

NEW HOTELS

QUICK FACTS

Seoul Stars Hotel – KRW 42.9 billion

NOTABLE HOTEL DEALS

Note: Seoul Hotels refers to Marketwide Hotels.Source: STR Global (YTD December 2014), Korean Ministry of Culture, Sports and Tourism, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014


2014Revenue per Available

Room (RevPAR)

KRW

157,756KRW

202,054Average Daily

Rate (ADR)

78.1%Occupancy

rooms306

Lotte Hotel City Guro Dormy Inn Premium Seoul Garosugil

Ramada Encore Seoul Dongdaemun

Ibis budget Ambassador Seoul Dongdaemun

Shilla Stay Yeoksam

rooms283

rooms212

rooms195

rooms306rooms rooms

204


TaipeiTaipei has been labelled as “the emporium without end.” Its main shopping area can be divided into two districts: East and West. West Taipei is the old city and is characterised by narrow streets packed with small traders. The Western district is home to most government buildings and the Taipei Main Station. East Taipei boasts wide tree-lined boulevards and the city’s four main shopping malls. Popular shopping destinations in East Taipei consist of the area around the ZhongXiao-DunHua intersection and Taipei 101.


Mainland China continued to be the main contributor to growth in visitor arrivals by overall share (up 38.2%

from last year), however South Korea outpaced Mainland Chinese growth at 56.2%. Taipei also acts as a gateway to Taichung and Kaohsiung, providing an

impetus for upscale hotel developers to build in anticipation for the increase in

room demand over the long term.

As at YTD December 2014, visitors to Taipei (measured by arrivals to Taoyuan

and Songshan International Airports) increased by 24.2% to nine million

visitor arrivals over the same period last year. This indicates arrivals to Taipei are mirroring the rest of the country’s rapid

growth in arrivals, particularly from Mainland China.

In the near future, large supply growth is imminent as tourist arrivals increase

at the fast pace realised. Since the recent opening of the W Hotel Taipei

and Le Méridien in 2012 and the impressive Mandarin Oriental last year, Taipei is becoming a mecca for upscale and luxury branded hotel development with a pipeline of 2,000 rooms over the

next three years.

The Tourism Bureau has been successful in its marketing campaigns

by targeting visitors within Asia, although it is uncertain if this pace of growth will be sustainable in the

medium term. However, in November 2014 Taiwan achieved its target of nine million visitor arrivals. Importantly, the overdue Taoyuan International Airport MRT is expected to commence service

by the end of the year.


NOTABLE HOTEL DEALS

Farglory Taipei Dome ComplexTaipei MarriottCourtyard by MarriottCitizenM Taipei

UPCOMING HOTELS

NEW HOTELS

Amba Taipei Zhongshan

QUICK FACTS

rooms90

rooms

HIGHLIGHTS

Note: Taipei Hotels refers to Luxury & Upper Upscale stock only.Source: STR Global (YTD December 2014), Dept. of Information and Tourism, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014(YTD November 2014)



Room (RevPAR)

TWD

5,108TWD

7,585Average Daily

Rate (ADR)

67.3%Occupancy


HIGHLIGHTS

TokyoThe 2020 Summer Olympic Games is set to bring a flood of tourism not only for the host city, but for the country. Tokyo’s hotel sector is entering an exciting new chapter. Japan’s economic revival is also providing a boost, with the depreciation of the Yen prompting a surge of international inbound arrivals and an expanding domestic economy driving renewed growth in corporate and leisure travel. Even after the athletes have checked out in 2020, the world’s most populous metropolis will continue to offer a seemingly endless variety of culture, dining, entertainment and fashion, with the usual Olympic legacy of new and improved infrastructure.


According to the Japan National Tourism Organization (JNTO), visitor

arrivals to Japan reached approximately 13.4 million in 2014. The number of inbound tourists in 2014 surpassed

the yearly total history record of 10.4 million achieved in 2013. The high

number of inbound tourists, as well as the increasing number of domestic

accommodation guests due to the Japanese economic recovery had a

positive impact on the Tokyo hotel market.

International accommodation guests, who account for approximately 25% of total accommodation demand in

Tokyo, reached an estimated 8.7 million as at YTD September 2014, registering

year-on-year growth of 25%. On the other hand, the number of domestic accommodation guests declined by

4.1% from the previous year to 26.6 million.

According to Japan Ministry of Health, Labour and Welfare, hotel supply in Tokyo comprised 680 hotels (97,879

rooms) as at March 2014, representing an increase of 2.1% in room supply from 2013. Over the second half of 2014, the 84-room Aman Tokyo opened its doors.

In order to achieve its goal of 20 million international visitors to Japan by

2020, the government has announced several initiatives and strategies

such as improved accessibility for foreign visitors. The above mentioned

strategies and the weakened Japanese Yen will continue to further support the increasing inbound demand and hotel trading performances are expected to improve. RevPAR growth in the short

term is likely to be driven by a rising ADR.

There are no known hotels forTokyo in 2015.

UPCOMING HOTELS

NEW HOTELS

AMAN TokyoANDAZ Tokyo

QUICK FACTS

rooms84

rooms164

Mercure Tokyo Ginza – UndisclosedTokyo Bay Maihama Hotel Club Resort – UndisclosedHotel Unizo Ginza Itchome – JPY 9.5 billionBest Western Shinjuku Astina Hotel Tokyo – JPY 8 billion

NOTABLE HOTEL DEALS

Note: Tokyo Hotels refers to Luxury stock only, unless otherwise stated.Source: STR Global (YTD September 2014), Japan Tourism Agency, JLLADR - Average daily rate, RevPAR - Revenue per available room

8.7millionInternational Visitor

Arrivals 2014 (YTD Septembe 2014)



Room (RevPAR)

JPY

38,070JPY

46,005Average Daily

Rate (ADR)

82.8%Occupancy


OsakaOsaka is the second largest city in Japan, located in the Kansai region on the western side of Japan. Osaka dates back to the Asuka and Nara period. Under the name Naniwa, it was the capital of Japan from 683 to 745, long before Kyoto became leader. Even after the capital was moved elsewhere, Osaka continued to play an important role as a hub for land, sea and river-canal transportation. Its close proximity to key tourism destinations such as Kyoto, Nara and Kobe has also boosted inbound arrivals as Osaka is normally included as part of the popular ‘Golden Route’.


Osaka is positioned as one of the top destinations in Japan both domestically

and internationally, recording strong growth in demand due to stable economic fundamentals and its

promotion of art and culture. Its close proximity to other destinations such as Kyoto, Nara and Kobe has also boosted

tourism as Osaka is normally included as part of the popular ‘Golden Route’.

The accommodation demand from international tourists remains strong in

the Osaka market. As at YTD September 2014, international accommodation

guests in Osaka Prefecture recorded a y-o-y increase of 32% to 4.2 million. The

number of domestic accommodation guests in Osaka prefecture reached

15.4 million as at YTD September 2014, an 8.2% increase from the same period

of the previous year. A new area in Universal Studio Japan (USJ), featuring Harry Potter, had a positive influence on

tourism demand in Osaka in 2014.

According to Japan Ministry of Health, Labour and Welfare, hotel supply

in Osaka prefecture comprised 374 hotels (56,992 rooms) as at March 2014, representing an increase of

2.9% in room supply from 2013. As for the pipeline, “The Park Front Hotel at Universal Studio Japan,” a 598-room

full-service hotel, is scheduled to open as one of USJ’s official hotels, in the

summer of 2015.

International visitor arrivals are anticipated to increase within the next few years. Kansai International Airport announced a plan to construct a third

terminal in 2015 for the exclusive use of international LCCs. Kansai International Airport aims to double the annual airport

capacity to eight million people upon the completion of Terminal 3, which will be able to accommodate more demand

from international travellers.

Hyatt Regency Osaka – UndisclosedOsaka Namba Washington Hotel Plaza – JPY 8.9 billionR&B Hotel Umeda-Higashi – JPY 1.5 billionDormy Inn Namba – JPY 700 million

NOTABLE HOTEL DEALS

The Park Front Hotel at Universal Studio Japan

UPCOMING HOTELS

NEW HOTELS

Osaka Marriott Miyako Hotel

QUICK FACTS

rooms360rooms

HIGHLIGHTS

Note: Osaka Hotels refers to Luxury and Up-scale stock, unless otherwise stated.Source: STR Global (YTD December 2014), Japan Tourism Agency, JLLADR - Average daily rate, RevPAR - Revenue per available room

4.2 millionInternational

Accommodation Guests (YTD Septembe 2014)



Room (RevPAR)

JPY

14,506JPY

17,960Average Daily

Rate (ADR)

80.8%Occupancy


HIGHLIGHTS

ShanghaiAs the Chinese middle class swells, domestic tourism is booming and Shanghai is among the biggest beneficiaries. With more than 25 million inhabitants, the port is an economic powerhouse, now connected to Beijing by high-speed rail. Cutting-edge infrastructure is also transforming the international visitor experience: a magnetic levitation train, which links the international airport to the city, reaches speeds of 430 kilometres per hour and provides a heady start to any stay. Visitors won’t find the must-see attractions of Beijing, New York or Rome but they will find endless entertainment walking the streets of this exciting global mega-city.


International visitor arrivals to Shanghai increased by 4.5% to 7.9 million in

2014, almost double Beijing’s arrivals. Shanghai received more than 8.8 million tourists during the week long National

Day holidays, an increase of 15.8% from 2013, mainly due to effective promotion

of domestic tourism.

The development of Hongqiao Central Business District, Shanghai Pilot Free

Trade Zone and Shanghai Disney Resort (although we note the opening date has now been delayed until early 2016) has stimulated demand from both corporate and leisure visitors. The opening of the

National Exhibition and Convention Center will further stimulate growth of

MICE demand.

The pace of new hotel rooms entering the market slowed in 2014 compared to previous years. There were four hotels with 1,662 rooms opened, mainly in the first half of 2014. Over 5,000 rooms are expected to enter the market this year

but it should be noted that opening dates are often delayed in Shanghai and

several projects may well extend into the 2016 pipeline.

Hotel demand is expected to increase in 2015, as the global economy recovers

and Shanghai Pilot Free Trade Zone, Hongqiao Central Business District and Shanghai Disneyland increase visitors

arrivals. The improvement of MICE facilities will also attract more MICE

demand to Shanghai.

Shanghai Disney Resort HUALUXE Shanghai Pudong Kangqiao InterContinental Shanghai WonderlandW Shanghai – PudongSheraton Shanghai Jiading Hotel

UPCOMING HOTELS

NEW HOTELS

Shanghai Marriott Hotel Parkview

Crowne Plaza Shanghai Noah Square

Hyatt Regency Shanghai Chongming

Pullman Shanghai South

QUICK FACTS

rooms317

rooms313

rooms235

rooms333

Yueda Nanjiao Huadu – RMB 75 million18 Hebao Rd – RMB 60 million

NOTABLE HOTEL DEALS

Note: Beijing Hotels refers to upscale stock only.Source: STR Global (YTD December 2014), Shanghai Tourism Bureau, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

RMB

697RMB

1,051Average Daily

Rate (ADR)

66.3%Occupancy


BeijingIn Beijing the ancient rubs shoulders with the modern. As one of the six ancient cities in Mainland China, it has been the heart and soul of politics and society throughout its long history and consequently there is an unparalleled wealth of discovery to delight and intrigue travellers as they explore the city’s ancient past and exciting modern development. The growth of the city’s hotel industry didn’t stop after the closing of the 2008 Olympic Games. Nor did ambitious infrastructure improvements: by the end of 2015 the city will have opened 14 new subway lines and last year city authorities announced 126 new projects that will see the further upgrading of this booming urban landscape.


International visitor arrivals to Beijing declined by 5.0% over 2013, recording 4.3 million arrivals in 2014. However,

domestic tourism has shown dynamic performance throughout 2014, reaching 257.2 million visitor arrivals to Beijing, which is a 4.0% increase compared

to 2013.

Although there was some recovery in 2014, driven by new opportunities from domestic tourism and economy

transformation, hotels still experienced difficulties due to restrictions on

government consumption and slowing economic growth. MICE demand has remained strong through the ongoing

APEC meetings during 2014.

The main supply in 2014 was through international brands in the high-end category, with 1,860 rooms entering

the market. With several projects postponed from 2014, there are

estimated to be more than 2,000 rooms in the pipeline for 2015. New brands

including Hotel Nuo and the Mandarin Oriental will be making an entrance into

the Beijing market.

The integration of Beijing, Tianjin, and development of the capital economic

circle will continue to attract MICE demand in the future. As well as this, the construction of Tongzhou District

Universal Studios and a second airport will help facilitate international arrivals.


NOTABLE HOTEL DEALS

NEW HOTELS

Beijing Wangfujing Renaissance hotel

Rosewood Beijing Grand Mecure DongCheng

Yanqi Lake hotel by Kempinski Beijing

Sunrise

W Beijing

QUICK FACTS

rooms329

rooms283

rooms111

rooms349rooms rooms

200

HIGHLIGHTS

Note: Beijing Hotels refers to upscale stock only.Source: STR Global (YTD December 2014), Beijing Tourism Bureau, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

RMB

672RMB

967Average Daily

Rate (ADR)

69.4%Occupancy

Kempinski Beijing SunriseCTS tower MetroparkInterContinental Beijing City CenterTangram HotelMandarin Oriental Beijing

UPCOMING HOTELS


HIGHLIGHTS

BangkokBangkok may be in a period of political upheaval, but few industry experts doubt the long-term prospects of the Thai capital’s hotel and hospitality sector. International tourists enjoy a colourful city break en route to Thailand’s paradise coastlines. Bangkok hotels receive most of their guests from Asia with China, Japan, India and Korea representing the top four markets. Bangkok’s sights, attractions, and city life appeal to diverse groups of tourists. Royal palaces and temples as well as museums constitute its major historical and cultural tourist attractions. Shopping and dining experiences offer a range of choices and prices. The city is also famous for its nightlife.


International tourist arrivals to Bangkok numbered 15.5 million in 2014, recording

an 11.3% decline over 2013. This represented the first decline since 2009,

due to the political demonstrations during the first quarter across the

capital city followed by a military coup.

China remains the biggest source market to Bangkok, followed by Japan, India and Russia. It must be noted that

each of the top ten feeder markets witnessed a decline in the number of

visitor arrivals during 2014. The primary purpose of visit for the majority of

tourists to Bangkok is leisure, followed by business and MICE.

New room supply declined in 2014 compared to the past few years.

Nevertheless, hotel room supply is expected to grow in the near future

with more than 3,000 rooms expected to enter the market during 2015. Notable

hotel openings in 2014 included the Radisson Blu Plaza Hotel (four-star) and

Holiday Inn Express Sukhumvit Soi 11 (three-star).

Bangkok saw some respite in international visitor numbers towards

the end of 2014 as the political situation stabilised. In the medium term, we

expect market performance to rebound as political tensions ease and Bangkok

tourism shows its resilience once again. Demand is forecast to continue to

recover strongly in 2015.

Ibis IMPACTCrowne Plaza SukhumvitAmara BangkokPremier Inn Soi 11Park Hyatt Central Embassy

UPCOMING HOTELS

NEW HOTELS

QUICK FACTS

Four Points By Sheraton, Sukhumvit 15– UndisclosedOakwood Apartments Trilliant Sukhumvit 18– UndisclosedCitrus Sukhumvit 22– Undisclosed

NOTABLE HOTEL DEALS

Note: Bangkok Hotels refers to Luxury stock only.Source: STR Global (YTD December 2014), Tourism Authority of Thailand, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

THB

3,181THB

5,820Average Daily

Rate (ADR)

54.7%Occupancy

rooms306

Le Méridien Suvarnabhumi Golf

Resort and Spa

Holiday Inn Express Sathorn

Holiday Inn Express Sukhumvit Soi 11

U Sathorn BangkokRadisson Blu Plaza Hotel

rooms214

rooms184

rooms86

rooms290rooms rooms

161


PhuketPhuket is Thailand’s largest island and one of the most popular tourist destinations in Southeast Asia. Located in the Andaman Sea, the island’s long history has shaped the Phuket of the present with its diverse ethnic groups, culture and architectural influence. These attributes have made Phuket a complete tourist destination that offers a lot more beyond its natural heritage of sea, sand, forest, and world-renowned diving sites. Sino-Portuguese architecture casts its spell delighting visitors, while Phuket’s style of hospitality has never failed to impress tourists from all walks of life.


International visitor arrivals to Phuket reached 3.2 million in 2014, recording a marginal improvement of 0.3% over

2013. Phuket may have benefited from tourists looking for alternatives to Bangkok as they tried to avoid the

political demonstrations.

During 2013 (latest available), China, Russia and Australia were Phuket’s

top three source markets, according to the Department of Tourism. Among

Phuket’s top ten source markets in 2013, Russia, Japan and China were the

fastest growing markets registering a y-o-y growth of 68.7%, 21.4% and 19.5%

respectively.

During 2014, Phuket witnessed an addition of 1,421 new rooms, the

majority of which were categorised in the upscale segment. The total

number of rooms in Phuket stood at 57,358 at year-end 2014. The west coast (including Patong, Layan and Kamala) remains the most popular location for

new hotel developments capturing 53.3% of total future supply between

2015 and 2018.

International tourist arrivals should continue to grow driven by Chinese tourists and facilitated by the future completion of the expansion of the Phuket International Airport. In the medium to longer term, we expect

occupancy levels to bounce back in light of growing demand and limited

future room supply.

Burasari Patong Phuket– THB 1.3 billion

NOTABLE HOTEL DEALS

Centara Grand Moringa Resort & SpaRamada Phuket DeevanaNovotel Phuket TownNikki Beach Hotel & SpaIbis Styles Phuket Town

UPCOMING HOTELS

NEW HOTELS

QUICK FACTS

HIGHLIGHTS

Note: Phuket Hotels refers to Marketwide Hotels.Source: STR Global (YTD December 2014), Tourism Authority of Thailand, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

THB

2,881THB

4,178Average Daily

Rate (ADR)

69.0%Occupancy

Novotel Phuket Karon Resort & Spa

Best Western Patong Beach Hotel

Tune Hotel Eastin Yama Hotel Phuket

Grand Mercure Phuket Patong

rooms224

rooms224

rooms105

rooms314rooms rooms

144


HIGHLIGHTS

MumbaiHome to major corporate and financial institutions, Mumbai has emerged as the economic powerhouse of the country and thus known as the ‘Financial Capital of India’. Mumbai also serves as a gateway to western India and has the second busiest domestic and international airport. Apart from business demand, Mumbai is also popular among leisure tourists as it serves as a base for visiting popular tourist destinations in Western India including Goa. Such a demand profile has proven to be a boon for the city’s lodging market.


During 2014, both domestic as well as international passenger traffic to Mumbai airport grew to an all-time high of 23.9 million and 11.1 million respectively. For foreign tourists,

Mumbai also serves as an entry point into India for connectivity to other

destinations within the country. Hotels located in South Mumbai primarily cater

to demand from the leisure segment.

Mumbai is the commercial capital of India and thus the nature of lodging demand tends to be dominated by

commercial demand, which contributes close to 75% of the city’s overall lodging

demand. MICE demand is typically generated from a number of large

conventions organised in Mumbai and is expected to grow further with the

development of proposed facilities like the Dhirubhai Ambani International Convention and Exhibition Centre

(DAICEC) in BKC by 2017.

Mumbai has seen very limited new hotel openings in the branded segment over

the past few years. However, future supply includes 25 hotels comprising of

6,633 rooms currently under different stages of development and planning.

While the strong supply pipeline remains a challenge for the market in

the near term, substantial improvements in infrastructure along with a positive economic outlook shall underpin the improvement in demand, with future supply to be fully absorbed over the

medium to long term.

JW Marriott Sahar Airport RoadTaj Airport Hotel, Terminal 1C

UPCOMING HOTELS

NEW HOTELS

Majestic Court Sarovar Portico Navi Mumbai

The Palladium Hotel

QUICK FACTS

rooms58

rooms390


NOTABLE HOTEL DEALS

Note: Mumbai performance pertains to Luxury stock only.Source: STR Global (YTD December 2014), Airports Authority of India, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

INR

5,859INR

8,769Average Daily

Rate (ADR)

66.8%Occupancy


DelhiDelhi is a city that bridges two different worlds. Old Delhi, once the capital of Islamic India, is a labyrinth of narrow lanes lined with crumbling havelis and formidable mosques. In contrast, the imperial city of New Delhi created by the British Raj is composed of spacious, tree-lined avenues and imposing government buildings. Delhi enjoys a diverse economic base driven by sectors such as information technology, banking, financial services and consulting. Apart from its commercial and political importance, the city is also an important leisure tourist destination, showcasing a rich and diverse cultural heritage.


International passenger traffic reached an all-time high during 2014 at 13.4

million, a growth of 4.7% y-on-y. With the launch of an e-visa facility for

visitors from 43 countries in November 2014, international arrivals are expected

to grow further in the near term.

Lodging demand in Delhi includes a healthy mix of business, MICE

and leisure. Business demand has rebounded post the election results and is likely to remain strong over

the medium term, primarily driven by growing foreign investment into

the country.

The 316-room Ibis Delhi Airport opened in August, making it the first property operated by Accor in Delhi. There will

be two additional hotels from the same operator – Novotel and Pullman New

Delhi Aerocity – which are expected to be operational in 2015.

Demand levels have shown an upward trend during 2014 across all star categories. We expect the

surge in demand to continue over the medium term underpinned by a stable government formation at the centre, business friendly environment and

continued government commitment to support the tourism industry.

Novotel New Delhi Aerocity Pride Hotel Aerocity Pullman New Delhi Aerocity Vivanta by Taj Dwarka Dusit D2 Aerocity

UPCOMING HOTELS

NEW HOTELS

Lemon Tree Premier, Delhi Airport

Holiday Inn New Delhi International Airport

Red Fox Hotel, Delhi Airport

Park Inn by Radisson IP Extension

Ibis Delhi Airport

QUICK FACTS

rooms280

rooms265

rooms76

rooms316rooms rooms

207

HIGHLIGHTS

Note: Delhi performance pertains to Luxury stock only.Source: STR Global (YTD December 2014), Airports Authority of India, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

INR

6,328INR

9,372Average Daily

Rate (ADR)

67.5%Occupancy


NOTABLE HOTEL DEALS


HIGHLIGHTS

Ho Chi Minh CityAs a result of the sweeping economic changes wrought by doi moi in 1986, Ho Chi Minh City, perched on the banks of the Saigon River and still known as Saigon to its eight million or so inhabitants, has changed its image from that of a war-torn city to one of a thriving metropolis. With all the key components of economic success – fine restaurants, flash hotels, glitzy bars and clubs, and shops selling imported luxury goods – are here, adding a glossy veneer to the city’s hotchpotch landscape of French stones of empire, venerable pagodas and austere, Soviet-style housing blocks.


International arrivals registered a y-o-y growth of 7.1% in 2014 to reach 4.4

million. 2014 was the third consecutive year of positive international arrival

growth with a CAGR of 12.4% between 2011 and 2014.

Top source markets to Ho Chi Minh City include China, South Korea,

Japan and USA. The Vietnam National Administration of Tourism targets

4.7 million foreign arrivals to the city in 2015.

During 2014, the Starcity Airport Hotel with 300 rooms was the only addition in supply in Ho Chi Minh City. Hotel supply

is expected to grow further with the addition of 1,577 rooms during 2015.

The tourism department plans to improve the quality of tourism products and services in hotels and river tourism,

as they try to sustain the growth in tourism. The department aims to

improve human resources and promote the city overseas.

Le Méridien SaigonIbis Grand Palace

UPCOMING HOTELS

NEW HOTELS

Starcity Airport Hotel

QUICK FACTS

rooms126 rooms

68rooms300

Mövenpick Hotel Saigon– USD 30.4 million

NOTABLE HOTEL DEALS

Note: Ho Chi Minh City Hotels refers to Marketwide Hotels.Source: STR Global (YTD December 2014), Vietnam National Administration of Tourism (VNAT), JLLADR – Average daily rate, RevPAR – Revenue per available room.


Arrivals 2014



Room (RevPAR)

USD

77USD

116Average Daily

Rate (ADR)

66.4%Occupancy


HanoiHanoi, the capital of Vietnam and second largest city in the country, offers a fascinating blend of East and West, combining traditional Sino-Vietnamese motifs with French flair. It is largely unscathed from the decades of war, and is now going through a building boom, making it a rapidly developing city in Southeast Asia. Its crumbly, lemon-hued colonial architecture is a feast for the eyes; swarms of buzzing motorbikes invade the ear, while the delicate scents and tastes of delicious street food can be found all across a city that – unlike so many of its regional contemporaries – is managing to modernise with a degree of grace.


During 2014, international arrivals to Hanoi increased by 16.3% from 2013 to reach an all-time high of three million. Visitor arrivals to Hanoi have shown

sustained growth for five consecutive years.

Top source markets to Hanoi include China, South Korea, Japan and USA.

The growing number of domestic flights from Hanoi is benefiting the overall tourism industry as visitors

are encouraged to travel to multiple destinations throughout Vietnam.

During 2014, 1,021 new rooms entered the market, with the most notable

openings being the Lotte Centre and JW Marriott. 2015 is expected to witness

an additional supply of 359 rooms in the branded segment.

Hanoi is continuing to work on its tourism development plan through to

2020, including the development of the Ba Vi-Suoi Hai zone into a national

tourist zone. Moreover, the government continues to promote MICE tours by

organising various international sports, cultural and political events

and festivals.


NOTABLE HOTEL DEALS

The InterContinental HanoiUPCOMING HOTELS

NEW HOTELS

JW Marriott

QUICK FACTS

rooms445rooms

HIGHLIGHTS

Note: Hanoi Hotels refers to Marketwide Hotels.Source: STR Global (YTD December 2014), Vietnam National Administration of Tourism (VNAT), JLL.ADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

USD

74USD

109Average Daily

Rate (ADR)

68.0%Occupancy

Lotte Centre

rooms318


HIGHLIGHTS

BaliKnown as the island of the gods, Bali is one of the most popular tourist destinations in the world. Few places on earth are blessed with the amount of sandy beaches, rugged coastlines, lush rice terraces, barren volcanic hillsides, panoramic views, art galleries, local traditions, culture and nightlife that Bali has to offer. On top of all this, Bali is benefiting from increased domestic and international visitor arrivals thanks to its continuously improving infrastructure, affordable air connections and Indonesia’s stable economic growth. Despite the rapid growth of development and tourism, the Balinese tradition, culture and lifestyle is still what it was and continues to make the island stand out from other destinations.


In 2014, international visitor arrivals to Bali registered a 15.1% increase over

the previous year to 3.7 million visitors, recording a new peak for Bali. The anti-

Chinese riots in Vietnam, the MH370 flight incident and the military coup in Thailand resulted in a diversion of

visitors from those countries directly to Bali and contributed to the growth

in visitation.

Major source markets to Bali showed remarkable growth in 2014 including

Mainland China (+51.2% y-o-y), Singapore (+28.6% y-o-y) and Australia

(+19.1% y-o-y). Improvements in infrastructure including the expansion

of Ngurah Rai International Airport in June 2014 and an increase in flight connectivity from the major source

markets have encouraged visitation to the resort destination.

Hotel supply in the pipeline will be mainly located in the Seminyak, Pecatu, Kuta and Nusa Dua areas. If all projects

materialise, JLL expect an addition of 12,831 rooms between 2015 and 2018,

representing an increase of 40.6% from 2014 to 2018.

The increase in airlift as well as a visa-free initiative for several major

source markets from 2015 is expected to draw more visitors to the resort island.

However, in light of the significant increase in hotel supply over the next few years, this will put some pressure

on the hotel market and also on existing hotels to upgrade their properties.

Eaton Luxe Nirwana BaliCentara Crystal on the Bay Nusa DuaHilton Garden Inn Bali Ngurah Rai AirportHotel Indigo Seminyak

UPCOMING HOTELSQUICK FACTS


NOTABLE HOTEL DEALS

Note: Bali Hotels refers to Luxury stock only.Source: STR Global (YTD December 2014), Statistics Indonesia, JLLADR - Average daily rate, RevPAR - Revenue per available room.


Arrivals 2014



Room (RevPAR)

USD

319USD

452Average Daily

Rate (ADR)

70.5%Occupancy

The Ritz-Carlton Bali Ramada Encore Bali Seminyak

Double-Six Seminyak Golden Tulip Essential Denpasar

Mercure Bali Legian

rooms313

rooms280

rooms94

rooms321rooms rooms

146

NEW HOTELS


JakartaPrimarily a city of government, business, industry and trade, Jakarta is also the main gateway to Indonesia’s many tourism destinations. In 2014 Jakarta witnessed its highest ever number of visitor arrivals. Although the capital of the world’s fourth most populous nation is seldom viewed as a centre for tourism and culture itself, efforts to improve the city’s reputation as a service and tourism city have been stepped-up. In recent years, Jakarta has expanded its facilities for visitors by developing new multi-star luxury hotels, entertainment centres, fine restaurants as well as tourist attractions in an effort to boost visitor arrivals.


In 2014, international visitor arrivals to Jakarta were recorded at 2.3 million, a marginal 0.3% increase from 2013.

Growth in international visitor arrivals slowed from 9.1% in 2013, possibly due to the presidential elections which took

place during H1 2014.

International visitors to Jakarta are mainly derived from corporate and meetings, incentives, conventions

and exhibitions (MICE) demand. The increase in flight connectivity between Jakarta and major gateway cities, and infrastructure improvements in the city, will continue to encourage visitation to

the capital city.

We estimate that 2,454 rooms opened in Jakarta in 2014, most of which are

in the economy and midscale sectors. Hotel openings comprised domestic brands such as Swiss-Belinn as well

as international brands including Holiday Inn Express, Ibis, Mercure,

Best Western and Doubletree by Hilton. There were no upscale or luxury hotel

openings in 2014.

Jakarta and Indonesia as a whole experienced a volatile early 2014 with

the depreciation of the Indonesia Rupiah and the presidential elections. However, with the elections over and the economic situation stabilising, a

cautious optimism has returned to the country with investors relooking at one of Southeast Asia’s largest economies.

The upcoming pipeline of luxury and upscale hotel developments will also

strengthen Jakarta’s standing as a key gateway city in Indonesia.


NOTABLE HOTEL DEALS

Fairmont JakartaRaffles JakartaThe Westin JakartaInterContinental Pondok Indah JakartaSheraton Jakarta Gandaria City Hotel

UPCOMING HOTELS

NEW HOTELS

QUICK FACTS

HIGHLIGHTS

Note: Jakarta Hotels refers to Upscale stock only.Source: STR Global (YTD December 2014), Statistics Indonesia, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

USD

115USD

181Average Daily

Rate (ADR)

63.7%Occupancy

Ibis Styles Jakarta Airport

Mercure Jakarta Sabang

Swiss-Belinn Kemayoran

Swiss-Belinn Airport

Holiday Inn Express Jakarta Pluit Citigate

rooms251

rooms166

rooms145

rooms297rooms rooms

156


HIGHLIGHTS

YangonWhile no longer the nation’s capital, Yangon remains the largest and most commercially important city in Myanmar and is a melting pot of different cultures and communities. Serving as the country’s main entrance and seaport, it is the country’s centre of business. The magnificent Shwedagon Pagoda dominates the city skyline, while at street level Yangon is a paradise for hunting out a variety of exotic arts and crafts. It still maintains its colonial charm with wide tree lined avenues, tranquil lakes, and gracious turn of the century architecture. Since the 2010 elections, Yangon’s fortunes have skyrocketed along with its land prices, as both local and foreign investors scrambled to gain a foothold.


Foreign visitor arrivals to Yangon have grown rapidly after cyclone Nargis in 2008, achieving a CAGR of 31.5% over the seven year period, albeit starting

from a very low base. Arrivals grew by 18.9% to 972,597 during 2014 compared

to the previous year.

Thailand and Mainland China have been the top source markets to Myanmar over the past few years given their close proximity and long-standing

economic cooperation. During 2014, Thailand was the top source market to Myanmar, followed by Mainland China

and Japan.

The majority of lodging supply in Yangon can be characterised as unbranded,

while supply considered to be of international standard remains fairly

limited. However, there are more than 5,000 rooms (mostly branded) slated to

enter the market over the next three to five years. Once operational, total

supply of international standard rooms will more than double in Yangon.

Tourist arrivals to Yangon are expected to continue growing aided by the

expansion of the existing airport and construction of a new Hanthawaddy

International Airport by 2018. In terms of supply, while the majority of future supply is categorised as luxury and

upscale, we see a strong opportunity for branded midscale hotels since the

segment remains largely untapped.

Novotel Hotel MaxHilton YangonRose Garden Hotel (Phase-2)

UPCOMING HOTELS

NEW HOTELS

Rose Garden Hotel (Phase-1)

Shangri-La Residences (Phase-2)

Sule Shangri-La Expansion

(formerly Traders Hotel)

QUICK FACTS

rooms123

rooms120

rooms214


NOTABLE HOTEL DEALS

Note: Yangon hotels refer to Luxury and upscale hotels only.Source: Ministry of Hotels & Tourism, JLLADR - Average daily rate, RevPAR - Revenue per available room, CAGR – Compound Annual Growth Rate

972,597International Visitor

Arrivals 2014



Room (RevPAR)

USD

121USD

169Average Daily

Rate (ADR)

71.9%Occupancy


SeychellesThe granite islands of the Seychelles archipelago cluster around the main island of Mahé, home to the country’s international airport and its capital, Victoria. Measuring 28 kilometres long by eight kilometres wide, the island is home to almost 90% of the Seychelles’ total population, reflecting the country’s diverse ethnicity and descent from African, Indian, Chinese, and European populations. Together, the islands of Mahé, Praslin and La Digue form the cultural and economic hub of the nation and contain the majority of Seychelles’ tourism facilities as well as its most stunning beaches. An expensive destination renowned for its ultra-luxurious options, the Seychelles also offers plenty of quaint, affordable self-catering facilities and guesthouses.


In 2014, international visitor arrivals to Seychelles increased to 232,667, largely driven by European countries. However,

the growth rate has slowed to 1.0% in 2014 compared to 10.7% in 2013.

Germany, France and Italy remain the dominant source markets with a

contribution of 15.4%, 13.9% and 8.5%, respectively. However, visitor arrivals

from France and Italy declined by 9.4% and 8.7% y-o-y during 2014. Chinese

visitors offset this decline with a y-o-y growth of 72.4%.

The Savoy Resort & Spa opened in May 2014, adding 163 rooms to the market.

Supply is expected to continue to grow during 2015 with a total inventory of 284

rooms, including the 124-room Avani Seychelles Barbarons Resort & Spa that

was launched in February 2015.

The Seychelles Tourism Board plans to launch its “I love Seychelles” tourism

promotion campaign during 2015, with the aim of raising Seychelles’ profile and strengthen awareness of Seychelles as a destination. The

board plans to concentrate on the key European source markets and China,

which includes the commencement of non-stop direct flights from Beijing to

Seychelles.

Banyan Tree Seychelles (70%)– USD 25 million

NOTABLE HOTEL DEALS

Six Senses Zil PasyonNira Sathwa

UPCOMING HOTELS

NEW HOTELS

Avani Seychelles Barbarons Resort & Spa

QUICK FACTS

rooms123 rooms

HIGHLIGHTS

Note: Seychelles Hotels refers to Marketwide Hotels.Source: Seychelles’ National Bureau of Statistics, JLL.ADR – Average daily rate, RevPAR – Revenue per available room.

232,667International Visitor

Arrivals 2014



Room (RevPAR)(2013)

USD

260USD

400Average Daily

Rate (ADR)(2013)

65.0%Occupancy

(2013)


HIGHLIGHTS

MaldivesA vast stretch of 26 atolls in the azure waters of the Indian Ocean, the Maldives is one of the world’s finest paradise resorts. Few destinations are blessed with such close proximity to so many fast-growing tourist markets: Russia, India, Mainland China and the emerging markets of Southeast Asia are all within 10-hour direct flights. But demand from Europe, the Maldives’ traditional visitor source, is growing too, with Germany supplying the second highest number of arrivals. Mainland China takes the top spot. Nightly rates are rocketing as a result, driving real estate transactions in access of USD 1 million per room as investors scramble to get their share of paradise.


As at YTD December 2014, visitor arrivals increased by 7.1% y-o-y to

1.2 million visitors. This increase was underpinned by strong growth in visitors from Mainland China, South Korea and

India. The Mainland Chinese market has been a major source market that has

resulted in a surge in visitor arrivals to the Maldives over the last few years.

As the leading source market to the Maldives, Mainland China comprises about 30.2% of total visitor arrivals to

the country in 2014, which is more than three times that of the second leading source market; Germany. The fastest growing source markets as at the end

of 2014 included India, South Korea and Mainland China with 19.9%, 15.1% and

9.6% growth, respectively.

The latest resort to open in the Maldives is Amilla Fushi on Baa Atoll in December

2014. The property is the first property under the Amilla brand created by The Small Maldives Island Co., and

comprises 34 over-water villas and 36 land suites/villas. There were four resort

openings in 2014, adding 280 rooms to the Maldives’ room inventory.

Underpinned by its liberal trade environment, increasingly dynamic private sector, and robust growth in visitor arrivals, we expect investor interest in the Maldives to remain

strong. Recent legislative changes that include acquiring islands on longer leases as well as the opportunity to extend existing leases will also help

encourage investment demand.

Outrigger Konotta Island Resort Radisson Blu Maldives HulhumaleAmilla Finolhu Maldives

UPCOMING HOTELS

NEW HOTELS

QUICK FACTS

Outrigger Konotta Island Resort– UndisclosedBeach House Iruveli– USD 72 millionHerathera Island Resort– USD 33.3 million

NOTABLE HOTEL DEALS

Note: Maldives Hotels refers to Marketwide Hotels.Source: STR Global (YTD December 2014), Ministry of Tourism, Arts & Culture, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

USD

517USD

756Average Daily

Rate (ADR)

68.4%Occupancy

JA Manafaru Amilla Fushi Maalifushi by COMO Club Med Finolhu Villas

Loama Resort Maldives at Maamigili

rooms84

rooms70

rooms52

rooms105rooms rooms

66


Sri LankaLocated south of the Indian subcontinent and just above the Equator amid the pleasant waters of the Indian Ocean, the tropical island nation of Sri Lanka is a place where nature’s beauty remains abundant and unspoilt. Six years after the end of the Sri Lankan civil war, the tourism sector has seen tremendous growth. The impressive pace of infrastructure development including several new expressways and a second international airport, as well as focused destination marketing efforts, have strengthened the country’s position as a competitive tourism destination.


Sri Lanka continued on its high growth trajectory, with 2014 arrivals growing by 19.8% year-on-year to 1.5 million

tourists. Total tourism earnings during the nine-month period from January through September (latest available)

increased 31.4% to USD 1.6 billion in 2014. The Sri Lankan Tourism

Development Authority (SLTDA) has set a target of 2.5 million annual arrivals by 2016, which amounts to a compounded

annual growth of over 25% y-o-y.

While Sri Lanka earlier depended heavily on European tourist traffic, there

has been a recent increase in tourist inflow from the Asia Pacific region,

particularly from India and Mainland China. Visitors from Mainland China grew 136.1% in 2014 making it one of

the fastest growing source markets to Sri Lanka, while India remained the top source market with a share of 15.9%.

The 158-room Ozo Colombo opened in May, marking the entry of Onyx Hospitality in Sri Lanka. The hotel

operator will open a 122-key Ozo Kandy in April 2015 and has also announced

the ground breaking of the construction of a 172-key Amari branded resort in

Galle in February 2015.

With a new government formation under the leadership of President Maithripala

Sirisena, the government remains committed on its focus to improve the overall tourism infrastructure

in the country. Continued focus on facilitating FDI investment into the country, particularly in the tourism, infrastructure, knowledge services,

export and manufacturing sectors will continue to drive business demand to

Sri Lanka.

Anantara Tangalle (49.9%)– USD 11.6 millionDickwella Resort & Spa – USD 11.4 million

NOTABLE HOTEL DEALS

Marriott Weligama Anantara Tangalle Ozo Kandy

UPCOMING HOTELS

NEW HOTELS

Centara Ceysands Resort & Spa, Bentota

Ozo ColomboCinnamon Red Colombo

QUICK FACTS

rooms165

rooms158

rooms242 rooms

HIGHLIGHTS

Note: Sri Lanka Hotels refers to Luxury Hotels only.Source: SLTDA, JLLADR - Average daily rate, RevPAR - Revenue per available room


Arrivals 2014



Room (RevPAR)

USD

82USD

114Average Daily

Rate (ADR)

72.0%Occupancy

Best Western Elyon Hotel Colombo

rooms60


Quick Facts

Seoul 1,665 78.1% 14914.2 million 191

Taipei(Luxury & Upscale)

803 67.3% 1679.0 million(YTD December 2014)

249

Tokyo(Luxury)

248 82.8% 3578.7 million 432

NUMBER OFNEW ROOMS 2014

OCCUPANCYUSD REVENUE PER AVAILABLE ROOM

(REVPAR)INTERNATIONAL VISITOR

ARRIVALS 2014

Hong Kong

(Luxury)

1,750 78.5% 37360.8 million 476

USD AVERAGE DAILY RATE (ADR)

Macau(Luxury)

0 90.6% 19131.5 million 211

Singapore

(Luxury)

1,773 80.3% 25915.1 million 323

Kuala Lumpur

(Luxury & Upscale) 739 73.3% 11022.9 million

(YTD October 2014)

150

Sydney 0 87.1% 17822.6 million(YTD September 2014)

204

Melbourne 426 85.8% 15214.8 million(YTD September 2014)

177

Manila 2,658 67.4% 852.7 million(YTD July 2014)

126

Shanghai

(Upscale)

1,662 66.3% 1137.9 million 171

Osaka(Luxury & Upscale)

360 80.8% 1364.2 million 168

Auckland 153 82.2% 1012.8 million 123


Jakarta

(Upscale)

2,454 63.7% 1152.2 million 181

Seychelles 123 65.0%(2013)

260(2013)

232,667 400(2013)

NUMBER OFNEW ROOMS 2014

OCCUPANCYUSD REVENUE PER AVAILABLE ROOM

(REVPAR)INTERNATIONAL VISITOR

ARRIVALS 2014

Beijing(Upscale)

1,860 69.4 % 1094.3 million 157

USD AVERAGE DAILY RATE (ADR)

Bangkok

(Luxury)

1,264 54.7% 9715.5 million 178

Phuket 1,421 69.0% 883.2 million 128

Mumbai

(Luxury)

0 66.8% 9611.1 million 143

Delhi(Luxury)

1,144 67.5% 10313.4 million 153

Ho Chi Minh

City

651 66.4% 774.4 million 116

Bali(Luxury)

3,838 70.5% 3193.7 million 452

Sri Lanka

(Luxury)

617 72.0% 821.5 million 114

Maldives 280 68.4% 5171.2 million 756

Hanoi 748 68.0% 743.0 million 109

Yangon

(Luxury and Upscale) 457 71.9% 121972,597 169

38

Contributors

Frank SorgiovanniHead of ResearchAsia [email protected]

Scott HetheringtonChief Executive Officer [email protected]

Craig Collins Chief Executive OfficerAustralasia [email protected]

Troy Craig Managing Director Strategic Advisory Asia Pacific [email protected]

Mike Batchelor Managing Director Investment Sales [email protected]

Mark Durran Managing Director Investment SalesAustralasia [email protected]

Tom Sawayanagi Managing Director Japan [email protected]

Hotel Destinations Asia Pacific

Front cover Shanghai skyline, China

About JLL Hotels & Hospitality GroupJLL’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centers; mixed-use developments and other hospitality properties. The firm’s more than 320 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totaling more than US $48 billion, while also completing approximately 4,500 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality, download the Hotels & Hospitality Group app for iOS and Android, or view our e-magazine The Hotel Investor, available for iPad.

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