Hotel industry and travel news from around the Asia Pacific region: Far East Hospitality to makes moves into Japan, Banyan Trees Laguna Lang Co Integrated Resort awarded Casino Licence and more...
Far East Hospitality to Undertake Hotel Project in Japan
Singapore-based Far East Hospitality Holdings Pte. Ltd. (FEHH) has entered into a joint venture with Boo Han Holdings Pte. Ltd. (Boo Han), a member of Far East Organization (Far East), to purchase a 2,542 square metre plot of land and a yet-unconstructed hotel in Ariake, Tokyo. The purchase price of JPY8.198 billion (Approximately S$100.5 million) will be shared equally by the two partners. Upon completion of the sale, the seller, Shimizu Corporation (Shimizu), will build the hotel before delivering the trust beneficiary interest worth to an indirectly-held joint venture entity, in the form of a Tokutei Mokuteki Kaisha (TMK), or Special Purpose Company. The forward purchase deal is expected to be completed in the second quarter of 2020 and the hotel is planned to be operated under a Far East hotel brand. Located in the Ariake district, the project is a short drive away from Central Tokyo, Tokyo Disneyland Resort, and Haneda Airport. It is also in proximity to Tokyo Big Sight, the largest convention centre in Japan as well as the Ariake arena, one of the venues hosting the Tokyo Olympics in 2020.
Banyan Trees Laguna Lang Co Integrated Resort Awarded Casino Licence
Singapore-based Banyan Tree Holdings Limited (Banyan Tree)s Laguna Lang Co Integrated Resort in Central Vietnam has been awarded the first casino licence to be issued by the Vietnamese government in ten years. Located in the Thua Thien Hue province along Vietnams central north coast, Laguna Lang Co is a 280-hectare integrated resort communitywith a 57-villa Banyan Tree Lang Co, a 229-key Angsana Lang Co resort, an 18-hole golf course, convention facilities, and recreational facilities that opened its first phase in 2013. With the long-awaited casino licence, the second phase of the project is expected to see investment capital increase from US$875 million to US$2 billion and the expansion is slated to be completed by 2022. Once launched, the new casino resort will feature a US$250 million casino, 2,220 villas and apartments, and as many as six five-star hotels.
Minor International Acquires NH Hotel Group
Thailand-based Minor International (MINT) has acquired 30 million shares in Spain-based NH Hotel Group through a 192-million-euro deal. This acquisition, combined with its existing shares in the group, increases MINTs stake in NH Hotel Group to 8.6%. NH Hotel Group, with its four main growth drivers of Spain, Benelux, Central Europe, and Italy, currently has a portfolio of 382 properties over 30 countries. The group consists of four brands, namely: NH Hotels, NH Collection, Nhow Hotels and Hesperia Resorts. This investment is seen as a strategic move to further expand MINTs presence in Europe following its earlier expansion into Portugal and Brasil in 2016 with the acquisition of Tivoli Hotels & Resorts.
Courtyard by Marriott Debuts in Shenzhen, China
US-based Marriott International (Marriott) recently announced the opening of its first Courtyard by Marriott hotel, namely Courtyard by Marriott Shenzhen Baoan, in Shenzhencity of China. Ideally located in the heart of Songgang Town, Baoan District, the hotel is about 20 minutes drive from Shenzhen Baoan International Airport and only 15 minutes drive from Guangming High-Speed Railway Station, with proximity to Fuyong Wharf. Sitting from 20th to 29th floor on a modern high-end business building, the hotel features 257 distinctive guestrooms with flexible working and leisure space, internet connection and a flat screen TV. There are extensive food and beverage options at the hotel, including an all-day dining restaurant Pavilion, a lobby Lounge and an executive lounge. In addition, Courtyard by Marriott Shenzhen Baoan provides a total meeting space of 755 square metres, comprising a 432-square-metre ballroom and five state-of-the-art function rooms.
www.hvs.com
