CoStar published an article on Swire Hotels and its plans to expand The House Collective to destinations like Tokyo and Shenzhen Bay in China. The House Collective currently comprises four hotels in China and Hong Kong. In July, Swire announced its first international hotel affiliated with The House Collective, a collaboration between L Catterton Real Estate and Tokyu Corporation and Tokyu Department Store, both under the umbrella of the Tokyu Group. The Shibuya (Tokyo) property is targeted for completion in 2027. In August they announced a hotel management agreement with a privately held developer to operate a House Collective property in the heart of Shenzhen Bay, China. Due to open in 2025 with 115 rooms and 44 serviced residences, the hotel is part of a premium mixed-use development with offices and events and exhibition space. Names for both properties are expected to be announced 12 months before opening as that is typical for the brand. Swire believes The House Collective appeals to discerning Chinese guests who have traveled widely outside of China. Swire Hotels, in its 2021 financial results to the HK stock exchange, had detailed a $12 billion (HK$ 100 billion) expansion fund to strategically develop hotels and invest in key cities in China over the next 10 years. The focus will be on retail-led mixed-use developments in Tier-1 cities and emerging Tier-1 cities with the predominant target being mainland China. Southeast Asia, South Korea and Australia are also on the map for the development company and hotel brands.
Pullman Orchard is expected to open its doors within the next month, located in the heart of Orchard Road in Singapore. There are 9 types of rooms and suites to choose from and what has a lot of people excited, the open air beach club. The P.S.O Beach Club is a Level 4 open air space. Other amenities include a restaurant, lounge, fitness center and more.
Banyan Tree Group said they continue to expand one of their latest brand concepts, Homm, with two new properties. They are the 148-room Homm Sukhumvit34 Bangkok, Thailand and Homm Huzhou Xisai Chan, China with 116 guest rooms, 26 suites, 30 family rooms and four villas that opened their doors in October. They joined the brand’s debut hotel Homm Bliss Southbeach Patong in Phuket, Thailand. After Bangkok and Huzhou, more Homm properties are set to open next year in Bali, Indonesia and Luang Prabang, Laos. Homm is one of five new brands within Banyan Tree Group’s growing ecosystem of concepts.
South Korea is seeing real signs of a rebound. Lotte Tour Development, owner of Jeju Dream Tower, said monthly visitation through the first 28 days of November reached 12,152, surpassing 10,000 monthly visitors for the first time since opening. Lotte Tour said they welcomed 16,236 hotel guest nights in November. It isn’t all just people coming to South Korea on their own as the company has its program to fly in international VIPs for their casino by charter, including flights to and from Japan and Hong Kong. The Economist also reported that Tiger Airways launched a direct route between Taiwan and June three times a week as of last Friday. HK Express will start direct flights to and from Hong Kong as of January 22.
R&F Korea’s attempts to get the old Caesars SK property in Incheon, South Korea off the ground looked dead and done after Caesars said they sold their interest to R&F for some “barbequed pork.” R&F, a troubled Chinese conglomerate, said they have a new life in Incheon as Marriott International signed a service contract to see a JW Marriott hotel take center stage within Midan City once they finally build it. R&F Korea also said they are in negotiations with casino operators in Macau, Singapore and Europe. It also said it’s in discussions with two investors and expects to close the deals by the end of this year. The project, right now without any changes, is set to include a foreigner-only casino, 751 hotel rooms, a theater and convention space.
Shareholders of Landing International approved the company’s name change to Shin Hwa World Limited, to reflect the company’s only asset and operations, the Jeju Shinhwa World integrated resort in Jeju, South Korea.
In Cambodia, the government approved Maritime City Co Ltd’s proposal to build and operate a $164.4 million development in Preah Sihanouk province comprising a 582-room five-star hotel, a commercial center and entertainment facilities. The Council for the Development of Cambodia confirmed the decision in a November 28 statement. The project is planned for Village 2, Commune III, Sihanoukville. It was reported that there are currently more than 80 hotels in the province comprising over 9,000 rooms of which there are eight 4 or 5 star hotels with about 5,000 rooms.
juSTa Hotels & Resorts announced the launch of its twentieth hotel, juSTa Grand View Resort & Spa in Manali in India. This will be the company’s first hotel in Manali and fourth in Himachal Pradesh, opening on December 1. The property has 36 rooms divided into three categories – 10 Luxury Rooms, 20 Premium Rooms and 6 Duplex Rooms. The hotel features an all-day, multi-cuisine a la carte restaurant, a spa, a terrace, board room, full gym and a green lawn for events.
Indian Hotels Company announced its debut in Bharuch by opening a Ginger-branded hotel. Ginger Bharuch offers guests the opportunity to blend the lines of work and play in the midst of dynamic spaces, located within comfortable driving distance from Surat and Vadodara airports. The hotel features 55 rooms, an all-day diner, conference room, banquet hall and fitness center. With this addition, IHCL has 19 hotels across Taj, SeleQtions, Vivanta, and Ginger brands across Gujarat including three under development.
Sol by Melia Cam Ranh Bay on the south-central coast of Vietnam is expected to open in the fourth quarter of 2023. The complex will include 816 keys and include four dining outlets, multiple swimming pools with separate adult and family areas, a spa situated on its own island, a kids club, extensive MICE facilities and a fitness center. The main hotel at the heart of the complex will offer 167 rooms and suites on 15 floors. Another 111 keys will fan out in 40 villas and 29 bungalows from the main building toward the sands of Cam Ranh Bay while two condotel towers with a combined 538 keys will flank each side of the spiral-shaped main building.
Hyatt Hotels Corporation and Dream Hotel Group announced an agreement for a Hyatt affiliate to acquire Dream Hotel Group’s lifestyle hotel brand and management platform including the Dream Hotels, The Chatwal Hotels, and Unscripted Hotels brands, with properties in some of the world’s most prominent hotel markets across the Americas, Europe and Asia. This asset-light acquisition will include a portfolio of 12 managed or franchised lifestyle hotels, with another 24 signed long-term management agreements for hotels expected to open in the future. Upon closing, this expansion will add over 1,700 rooms to Hyatt’s lifestyle portfolio and increase Hyatt’s room count in New York City by more than 30%. Upon closing, Hyatt will pay a base purchase price of $125 million, with up to an additional $175 million over the next six years as properties come into the pipeline and open.
Personnel Moves
Dream Hotel Group founder Sant Singh Chatwal will continue his commitment as an owner of four open and two future hotels that are expected to join the Hyatt portfolio. Dream Hotel Group CEO Jay Stein will join Hyatt as head of Dream Hotels. Other key Dream executives will also remain following the acquisition, with Chief Development Officer David Kuperberg becoming head of development for Dream Hotels and Chief Operating Officer Michael Lindenbaum becoming global head of operations for Dream hotels. In connection with the transaction, Moelis & Company LLC served as financial advisor to Hyatt and Latham & Watkins LLP acted as its legal adviser.
