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Tag: hospitality

  • Capella Hotel Group Opens Capella Kyoto in Japan

    Capella Hotel Group Opens Capella Kyoto in Japan

    Capella Hotel Group has launched Capella Kyoto in Japan this week, entering the country’s prime cultural tourism market with 1 ultra-luxury hospitality development.

    The opening brings the Singapore-based hospitality operator into direct competition with established luxury properties in Kyoto’s heritage districts.

    Expanding Luxury Footprint in Japan

    International luxury operators continue to target Kyoto because of sustained foreign tourist spending and strict zoning constraints that limit new inventory in historic neighbourhoods. High barriers to entry make boutique developments in prime central locations especially valuable for global operators seeking premium room rates.

    Capella’s entry into the Japanese market follows the brand’s regional expansion across major destination markets in Southeast Asia and Greater China. By establishing a presence in Kyoto, the group adds an anchor location in Japan to capture high-net-worth leisure demand travelling across the Asia-Pacific circuit.

    Operator Competition in Historic Hubs

    Competition among five-star hotel brands in Kyoto has intensified as international flags establish properties near key heritage assets. Rival luxury operators have similarly focused on smaller room counts and tailored guest experiences to maintain elevated average daily rates rather than relying on high guest volume.

    For hotel owners and asset managers, Kyoto presents elevated development costs alongside complex municipal preservation guidelines. The operators that succeed in this environment depend on high-spending overseas guests who stay longer and spend more on on-site dining and wellness offerings.

    Next Steps for Regional Portfolios

    The brand’s performance in Kyoto will test customer intake against existing luxury properties across western Japan. RetailNews Asia will track the operator’s room yield metrics and subsequent project rollouts across the domestic market.

  • Informa Opens Restaurant, Bar & Café 2026 with 400 Brands in Hong Kong

    Informa Opens Restaurant, Bar & Café 2026 with 400 Brands in Hong Kong

    Informa Markets opened the 2026 edition of Restaurant, Bar & Café Hong Kong on September 1. More than 400 commercial brands across 11 countries and regions are taking part. The trade exhibition runs for three days at the Hong Kong Convention and Exhibition Centre. Organisers expect to draw over 9,000 commercial buyers, operators and hospitality suppliers.

    Eight commercial sectors are represented, spanning food and beverage, coffee, hospitality equipment, natural products and front-of-house technology. Informa co-located the show with the Retail Asia Conference and Expo. That pairing links traditional foodservice procurement directly to retail automation, point-of-sale software and artificial intelligence systems.

    Equipment Debuts and Dedicated Sourcing Zones

    Exhibitors are using the floor to debut equipment and raw ingredients in Asian commercial channels. Hardware displays include the FSWAAI automated packing and labelling scale, as well as robotic dispensing units from Tao Bin Smart Beverage Machine (HK) Limited. Food suppliers brought premium lines such as Marble King Full Blood Wagyu and Kochi Prefecture chicken from Japan. These items target upscale restaurant buyers looking for differentiated menus.

    Dedicated sourcing zones divide the floor to speed up buyer meetings. The Japan Sake & Spirits Pavilion groups regional distillers and brewers. Nearby, the Eco-Innovation Hub concentrates on biodegradable packaging and certified organic food products. The Specialty Coffee Corner features live demonstrations at a dedicated Brew Bar, connecting green coffee importers with independent café chains.

    Retail Technology and Automation Take the Floor

    Hong Kong restaurant operators face heavy margin pressure from high rents and kitchen staffing shortages. Automation is no longer optional. Dining chains must automate basic prep work, weighing, inventory control and beverage delivery to protect their margins. Suppliers displaying self-service beverage dispensers and automated packaging systems are pitching directly to quick-service operators seeking to trim back-of-house headcount.

    Landlords and food hall operators face equal pressure to refresh tenancies with destination dining concepts. Store layouts increasingly require digital ordering kiosks, automated inventory integration and rapid takeaway counters. The commercial risk falls hardest on small operators. Many face steep capital costs when adopting proprietary smart kitchen tech that takes years to deliver a return.

    Demographic Shifts Drive Sourcing Priorities

    Consumer demographic shifts across East Asia shape this year’s conference programme. Organised with KPMG, the Retail Asia Conference focuses on artificial intelligence adoption and younger consumer engagement. On the final day, the IFSA Food Safety Symposium addresses nutrition and texture formulations tailored specifically to an ageing population.

    Local trade shows are working to rebuild international exhibitor numbers following years of travel disruptions and tighter regional budgets. Earlier editions saw smaller regional turnouts. Drawing 11 exhibiting jurisdictions sets a benchmark for the city’s cross-border hospitality trade recovery.

    Events wrap up on September 3 with the Hong Kong Coffee Challenge finals, the Pairing Sensations Awards and the release of final verified trade buyer attendance figures.

  • Okada Manila and Dior Lead Philippine Customer Service Rankings

    Okada Manila and Dior Lead Philippine Customer Service Rankings

    Okada Manila topped a Philippine customer service study across 78 categories with a score of 96.87, leading a field led by luxury hospitality and global retail brands.

    Grand Hyatt Manila followed in second place at 95.57, while French fashion house Dior ranked third overall at 95.12. The benchmark, compiled by data portal Statista and the Philippine Daily Inquirer, evaluated both physical and digital operations using more than 90,000 customer reviews collected between February and April 2025.

    How the scores were calculated

    Researchers weighted the final scores equally between a respondent’s likelihood to recommend a brand and five direct performance metrics. Those five criteria, each carrying a 10 percent weighting, covered accessibility, customer focus, quality of communication, professional competence and range of services.

    Participants evaluated companies they had transacted with, visited or researched over the previous three years. The survey spanned five broad sectors: brick-and-mortar stores, online retailers, digital services, hospitality and general consumer services.

    Top performers across retail and hospitality

    Homegrown luxury furniture maker Philux placed fourth with a score of 94.88 in the home goods retail division. Shangri-La Hotels took fifth at 94.81, followed by serviced apartment operator Ascott at 94.41.

    Consumer technology and fast-moving retail also secured spots in the upper tier. LG Electronics Philippines led online home goods with 94.33, while bakery chain Red Ribbon scored 93.5 in the restaurant and leisure bracket. Japanese apparel giant Uniqlo took the final two spots in the top ten, scoring 93.38 for its physical stores and 93.30 for its Philippine e-commerce operation.

    The strong showing of physical flagships alongside digital channels mirrors a broader shift across Southeast Asian retail, where omnichannel consistency dictates customer loyalty. Premium hospitality operators and luxury apparel labels continue to command the highest marks because their operating models justify higher floor staffing and dedicated post-purchase support.

    Statista and local partners plan to track category shifts through the next evaluation cycle, where rising store automation and digital checkouts face direct consumer assessment.

  • Singapore Land to Close Marina Square for 76,000-Square-Metre Revamp

    Singapore Land to Close Marina Square for 76,000-Square-Metre Revamp

    Singapore Land will close its Marina Square retail mall on March 31 to begin a multi-year redevelopment across more than 76,000 square metres of gross floor area. The project converts the standalone four-storey shopping centre into a mixed-use complex slated for completion in 2031.

    The overhaul will add three new towers to the site. These buildings will contain 204 luxury homes, a 260-key serviced apartment development, a 304-key hotel, and approximately 13,000 square metres of Grade A office space.

    New Towers and Rooftop Links

    Plans for the redesigned four-storey podium focus on experiential retail, sports, wellness facilities, dining, and pet-friendly outdoor areas. Direct roofscape links will connect the mall to the new towers and the precinct’s three existing hotels, which will remain open during construction.

    Singapore Land intends to use the retail podium as an active conduit between residential, commercial, and hospitality traffic throughout Marina Bay across different hours of the day. The developer plans to run community activations and events before the shutdown to maintain tenant sales and visitor footfall.

    “By adding residences, serviced apartments and workplaces alongside the existing hotels and repositioning the mall around experience-led retail, sports, wellness and community, we are creating a new ecosystem where people can live, work, stay and connect,” said Jonathan Eu, chief executive of Singapore Land.

    Rethinking Prime Downtown Retail

    The project reflects a broader trend across prime Asian commercial districts, where landlords are dismantling single-use suburban-style malls in favour of dense, mixed-use assets. With e-commerce shifting retail spending patterns and office attendance remaining flexible, central developers in Singapore and Hong Kong increasingly rely on on-site residential and hotel populations to guarantee daily mall traffic.

    Tenants at Marina Square will vacate ahead of the March 31 shutdown, with construction work running through to the targeted delivery date in 2031.

  • Fairmont and Asset World Corp Open 474-Room Hotel in Bangkok

    Fairmont and Asset World Corp Open 474-Room Hotel in Bangkok

    Fairmont Hotels & Resorts and Asset World Corp have opened the 474-room Fairmont Bangkok Sukhumvit in Thailand. The property expands the luxury footprint of Accor’s heritage brand along Bangkok’s busiest commercial corridor.

    Located in the heart of Sukhumvit, the new property targets corporate travel, large-scale conferences and upscale leisure guests. Asset World Corp, the hospitality and property arm of Thai billionaire Charoen Sirivadhanabhakdi’s TCC Group, partnered with Fairmont to deliver the project.

    Sukhumvit pipeline gains scale

    Sukhumvit continues to draw major international operators. Hilton introduced its lifestyle banner nearby with the opening of the 174-room Canopy Bangkok Sukhumvit on Sukhumvit Soi 12, adding direct competition in the central retail and business district.

    Developers across Southeast Asia are accelerating high-end inventory deliveries. Luxury operators in Thailand are chasing high-spending regional visitors, relying on established global brands to lock in corporate accounts and loyalty program members.

    Regional network expansion

    The Bangkok addition mirrors broader hospitality development across Asia. Hilton opened the 170-room Conrad Nagoya in Japan with Mitsubishi Estate, while bringing its Tapestry Collection brand into Vietnam with the NHAAN Resort & Spa in Hoi An.

    Asset World Corp will monitor ramp-up metrics and room yield across its prime Bangkok portfolio through the upcoming high season.

  • Chinese Restaurant Chains Target US Market as Domestic Growth Slows

    Chinese Restaurant Chains Target US Market as Domestic Growth Slows

    Chinese restaurant chains are expanding across the United States to offset slowing growth at home, betting American diners are finally ready to embrace authentic regional menus.

    The push enters a market that already counts more Chinese dining spots than individual locations of almost any major American fast-food chain. For decades, those menus relied heavily on Westernised adaptations like chop suey and fortune cookies, both created in the United States rather than mainland China. Traditional fare struggled to gain traction during the twentieth century as immigrant chefs navigated widespread consumer resistance and discrimination.

    Shifting from takeout staples to authentic menus

    Domestic headwinds across China’s dining sector are now accelerating the overseas push. Operators face tighter consumer spending and intense margin pressure in their home cities, making international expansion an urgent priority rather than a long-term experiment.

    Instead of modifying dishes to suit Western palates, newer entrants are bringing specialized formats straight from the mainland. Concepts range from high-end Michelin-starred Peking duck houses to regional hotpot and noodle formats. The shift reflects growing diner familiarity with authentic Chinese culinary traditions, moving the market away from generic takeout boxes toward distinct regional identities.

    Navigating saturated overseas markets

    Breaking into the American market presents operational hurdles despite the historical presence of Chinese food. Mainland chains must manage higher labor expenses, complex local supply chains, and entrenched domestic competitors while maintaining recipe authenticity.

    The test for Chinese operators is whether authentic regional concepts can capture mainstream suburban foot traffic or remain confined to dense urban centers with established Asian diaspora populations.

  • Champagne Bureau Australia Launches Education Prize for Wine Retailers

    Champagne Bureau Australia Launches Education Prize for Wine Retailers

    Champagne Bureau Australia has launched the Champagne Education Prize for early-career hospitality and fine wine retail staff. Australia ranks as the world’s seventh-largest Champagne export market.

    The training scheme targets frontline workers. It combines technical category study with direct travel to France.

    Focus on frontline wine sellers

    Organisers view sommeliers, bartenders and fine wine retail employees as the primary channel for introducing Australian consumers to the category. The program aims to deepen their technical knowledge through direct interaction with shoppers and restaurant diners.

    Selected participants will travel directly to the Champagne region for on-the-ground study.

    Australia holds seventh place globally

    Sustaining demand across Asia-Pacific liquor retail channels relies heavily on trade education. Premium wine distributors face stiff competition from domestic sparkling producers for shelf space and wine list placements.

    Intake dates and selection details for the inaugural cohort will determine when the first group of Australian trade professionals heads overseas.

  • Nomura Real Estate Master Fund Buys Tokyo Best Western for $55 Million

    Nomura Real Estate Master Fund Buys Tokyo Best Western for $55 Million

    Nomura Real Estate Master Fund has agreed to acquire the Best Western Hotel Fino Tokyo Akasaka from developer Ichiken for JPY 8.7 billion ($55 million). That prices the 87-key property at JPY 100 million ($626,000) per room. The price represents a 20 percent discount to its July appraisal value of JPY 10.9 billion.

    Settlement will take place on 1 September following signing on Thursday, funded with cash on hand. Ichiken carries the asset at JPY 5.3 billion on its books. The sale delivers a gross spread of JPY 3.4 billion before transaction expenses.

    Property Cash Flow and Operator

    Completed in March 2020, the 13-storey building spans 2,385 square metres in Minato ward. It sits three minutes on foot from Akasaka and Akasaka-mitsuke subway stations. Double rooms make up 86 percent of the inventory. That space includes 22 moderate doubles, 53 superior doubles, 11 superior twins and one accessible deluxe twin.

    Polaris Holdings operates the property under a lease where rent is calculated as a fixed percentage of gross operating profit. Foreign visitors represent 95 percent of all guests and stay an average of 3.7 days. Based on an appraisal net operating income of JPY 385 million, the asset yields 4.4 percent on the purchase price.

    Portfolio Shift Toward Hospitality

    The acquisition expands the trust’s hotel holdings by 31 percent to JPY 37 billion across nine properties. Hospitality now accounts for 3.3 percent of total portfolio assets, up from 2.6 percent. Greater Tokyo hotel exposure increases to JPY 11.1 billion from JPY 2.4 billion. Master Fund holds JPY 1.1 trillion across commercial, logistics, residential and lodging assets.

    Recent portfolio moves include Master Fund’s sale of eight residential buildings to Integral Real Estate for JPY 10.8 billion in March 2025 and its March purchase of two Tokyo properties for JPY 8.9 billion. Looking ahead, Minato ward is targeting more than 9 million overnight stays in 2026, up from 8 million in 2024.

  • Crackdown on Underground Hospitality: Thailand Targets Illegal Hotels on Phuket Island

    Crackdown on Underground Hospitality: Thailand Targets Illegal Hotels on Phuket Island

    The Thai government is stepping up its measures against unauthorized accommodations, following the discovery of three illegal hotels on Phuket, the nation’s largest island. During a recent operation, Deputy Interior Minister Polapee Suwunchwee led a task force targeting three hotels consisting of approximately 200, 240, and 45 rooms. The investigation revealed that none of the properties held valid construction permits or operating licenses.

    Two of these establishments had initially received approval as residential buildings or condominiums but had been unlawfully converted into hotels. In addition, officials conducted online booking simulations, which showed that the hotels were mostly selling rooms to European and other international tourists, with very few Thai patrons.

    Illegal Ownership and Consequences

    The investigation further exposed suspected nominee ownership arrangements, involving companies with a shareholding structure that is 49% foreign and 51% Thai. In some instances, the properties were legally owned by Thai citizens but rented out to Chinese investors, who allegedly ran the hotels without the necessary licenses.

    This operation is part of a larger scheme covering over ten locations across Phuket. Local authorities, under the instruction of Phuket Governor Sophon Suwannarat, have been directed to immediately close businesses that fail to provide the necessary documentation.

    Director-General of the Department of Provincial Administration, Narucha Kosasivilize, highlighted the triple-edged harm of illegal lodging operations. They disadvantage legal, tax-paying businesses, pose safety hazards due to non-compliance with government safety standards, and damage Thailand’s reputation, thereby undermining long-term confidence in its tourism industry. Efforts are being made in conjunction with the Royal Thai Police, Ministry of Commerce, Department of Special Investigation, and other agencies to broaden probes into foreign business networks nationwide.

    In a separate development, Deputy Government Spokeswoman Lalida Pervsivatan announced that Thailand will implement a new intelligence-based screening system on August 1 to enhance the detection of nominee businesses. This system will scrutinize company registration records, shareholder structures, and financial statements to pinpoint high-risk firms with Thai shareholders in suspicious circumstances. Lalida emphasized, however, that these measures are not designed to deter rightful foreign investment but to distinguish legal investors from those employing nominee structures to operate illicitly.

    Questions & Answers

    What is the focus of the crackdown in Thailand?
    The Thai government is focusing on the detection and closure of illegal hotels without the necessary operating licenses.

    What consequences do these illegal operations bring?
    Illegal hotels disadvantage legal businesses, pose safety threats due to non-compliance with government safety regulations, and tarnish Thailand’s reputation, undermining confidence in its tourism sector.

    What is the future plan of the Thai government to curb these illegal operations?
    Thailand plans to introduce a new intelligence-based screening system to improve the detection of businesses that are high-risk or suspicious, focusing on those with Thai shareholders.

  • Vinpearl CEO Dang Thanh Thuy Steps Down: A Turn of Tide in Vietnam’s Hospitality Giant

    Vinpearl CEO Dang Thanh Thuy Steps Down: A Turn of Tide in Vietnam’s Hospitality Giant

    Dang Thanh Thuy has stepped down from her position as chief executive officer of Vinpearl, Vingroup’s resort division. Despite her resignation, Thuy continues to hold a seat on the organization’s board. Vinpearl has not yet announced a successor or the reasons behind Thuy’s departure.

    Background of Dang Thanh Thuy

    Thuy, 56, holds a Bachelor’s degree in literature. She joined the ranks of Vinpearl in 2004 and has held significant positions in the company over the years. She served as the chairman of Vinpearl from January 2023 to March 2024, and from 2012 to 2016, she was the deputy CEO of Vingroup.

    Vinpearl’s Status in the Hospitality Industry

    Vinpearl stands as one of the foremost hospitality brands in Vietnam, boasting an impressive portfolio of 48 hotels, resorts, theme parks, and golf courses spread across 18 provinces and cities.

    Financial Performance

    In the third quarter of 2025, Vinpearl reported revenues of VND3.09 trillion (US$117.5 million), marking a 40.7% decrease year-on-year. The company’s post-tax profits stood at VND169 billion, falling 66.6%. Furthermore, its profits for the first nine months of the year saw a drastic decline, plummeting by 86%.

    Vinpearl is primarily owned by Vingroup, with an ownership stake of 85%. The conglomerate’s chairman is renowned billionaire, Pham Nhat Vuong.

    Questions & Answers

    Who was the previous CEO of Vinpearl?
    Dang Thanh Thuy was the former CEO of Vinpearl.

    What significant positions did Dang Thanh Thuy hold in Vinpearl and Vingroup?
    Dang Thanh Thuy served as the chairman of Vinpearl from January 2023 to March 2024 and was the deputy CEO of Vingroup from 2012 to 2016.

    What was the financial performance of Vinpearl in the third quarter of 2025?
    In the third quarter of 2025, Vinpearl reported revenues of VND3.09 trillion (US$117.5 million), a 40.7% decrease year-on-year. The company’s post-tax profits stood at VND169 billion, a decrease of 66.6%.

  • Western Australia’s New Liquor Law Reforms: A Toast to Hospitality Growth and Enhanced Tourism Experience

    Western Australia’s New Liquor Law Reforms: A Toast to Hospitality Growth and Enhanced Tourism Experience

    The recently approved revisions to liquor laws in Western Australia are set to streamline processes, reduce bureaucratic hindrances, and inject vitality into the region’s liquor, tourism, and hospitality sectors.

    Enhancements to Alcohol Service and Trading Hours

    The legislation overhaul permits licensed establishments such as hotels, taverns, small bars, and alcohol manufacturers to offer alcoholic beverages with or without an accompanying meal on notable public holidays such as Good Friday and Christmas Day. Furthermore, the trading hours on these holidays, as well as on Anzac Day, will see an extension of up to four hours, permitting operation from 10 am to midnight.

    Introduction of Digital ID Checks

    In alignment with modern technological trends, the Liquor Control Act 1988 will also integrate digital ID checks into its enforcement mechanism. However, the law stipulates that digital evidence such as photographs or screenshots of IDs will not be deemed acceptable.

    Reducing Paperwork and Boosting Growth

    As part of the drive to slash red tape, the new laws will eliminate the need to renew extended trading permits, thus reducing paperwork and related costs for business operators. Small bars stand to benefit from these changes, as the legislation raises their patron capacity limit from 120 to 150.

    Expanding Product Range and Strengthening Penalties

    The reforms also broaden the scope for spirit producers, enabling them to produce a wider array of products, including ready-to-consume beverages like hard seltzers. To address potential alcohol-related issues, the Banned Drinkers Register (BDR) will become a permanent measure in Kimberley, Pilbara, Goldfields, Carnarvon, and Gascoyne Junction. The law will also amplify penalties for unauthorized alcohol sales and distribution.

    According to Racing and Gaming Minister Paul Papalia, these reforms echo the government’s dedication to facilitating business operations in Western Australia. He underscored the legislation’s dual benefit for businesses and customers, stating, “We’re backing growth in tourism, hospitality and the night-time economy with a modern liquor licensing system that works for both businesses and patrons.”

    Questions & Answers

    What are the key changes in Western Australia’s new liquor law reforms?
    The primary changes include extended trading hours on public holidays, introduction of digital ID checks, eradication of extended trading permit renewals, increase in customer capacity at small bars, and expansion of the product range for spirit producers.

    How will the reforms affect small bars?
    The reforms will ease administrative burdens for small bars by dispensing with the need for extended trading permit renewals. They will also allow for an increase in customer capacity from 120 to 150.

    What measures will be taken to address potential alcohol-related issues?
    The reforms will make the Banned Drinkers Register (BDR) a permanent feature in certain areas, and also strengthen penalties for illegal alcohol sales and distribution.

  • Coach Dives into Hospitality with Flagship Restaurant Launch at Jewel Changi Airport: A Mix of Fashion, Food, and New York Heritage

    Coach Dives into Hospitality with Flagship Restaurant Launch at Jewel Changi Airport: A Mix of Fashion, Food, and New York Heritage

    Coach, the American fashion brand, has unveiled The Coach Restaurant Singapore at Jewel Changi Airport as part of its continued expansion into the hospitality industry and overarching lifestyle approach.

    The Restaurant Blueprint

    The restaurant’s design is heavily influenced by Coach’s New York roots, boasting an impressive view of the Jewel’s Rain Vortex. Its layout is spacious, accommodating a 56-seat dining room, a 10-seat bar, and a 10-seat chef’s counter that is centered around an open woodfire kitchen.

    The interior design is a creative harmony of bronze mirrors, terrazzo flooring, tropical wood louvres, and leather accents, the latter being utilized in menu covers and staff aprons. As the centerpiece, a full-sized yellow taxi cab is suspended above the dining area, a nod to the brand’s origin.

    Location and Comment from Coach

    Marcus Sanders, VP of global food and beverage at Coach, highlighted Singapore’s vibrant food culture and international community as the driving factors behind the decision to place the hospitality concepts there.

    He said, “In this venue, we are providing an opportunity for guests to come together, celebrate, and experience the Coach brand in a manner that is both timeless and innovative.”

    The Wider Strategy

    This latest venture enhances Coach’s existing food and beverage initiatives and aligns with its Coach Coffee Shop and the recently revamped retail store at Jewel. These three spaces are designed to fortify the brand’s most comprehensive integrated lifestyle concept in Asia.

    Questions & Answers

    What is the design inspiration for The Coach Restaurant Singapore?

    The design takes its cues from Coach’s New York heritage and includes elements such as bronze mirrors, terrazzo flooring, tropical wood louvres, and leather accents.

    What are the features of the restaurant?

    The restaurant includes a 56-seat dining room, a 10-seat bar, and a 10-seat chef’s counter built around an open woodfire kitchen. A full-sized yellow taxi cab is suspended above the dining area as a focal point.

    What is the purpose of the new restaurant in Coach’s broader strategy?

    The new restaurant is part of Coach’s continued expansion into the hospitality industry. It complements Coach’s existing food and beverage ventures, including the Coach Coffee Shop and the refurbished retail store at Jewel, strengthening the brand’s integrated lifestyle concept in Asia.

  • Tekka Place Soft opens End of Year

    Tekka Place Soft opens End of Year

    Hospitality-and-retail integrated development Tekka Place has marked its topping out, and is scheduled for a soft opening by the end of this year.

    Located at 2 Serangoon Road, the complex has a main tower and a seven-storey annex with rooftop deck. Tekka Place will cater to the needs of nearby residents, office workers and commuters of both the North East and Downtown MRT lines, as well as house the new Citadines Rochor serviced residences, attracting new international visitors.

    Tekka Place’s construction started in mid-2017, managed by Lum Chang-LaSalle joint venture.
    Nearly 50 per cent of the 70,000sqft lettable retail space in the integrated development has been leased or is in advanced negotiations.

    “Even though we have been approached by reputable local and international retail and F&B brands, we are selective in curating Tekka Place’s retail mix to both reflect and build on the unique cultural identity of the Little India heritage precinct, and to complement the shopkeeper businesses in the area,” said Kelvin Lum, director at Lum Chang Holdings and spokesperson for the joint venture.

    XinTekka, a new food hall concept by Andrew Tan will occupy 10,000sqft of the mall, offering a spread of local culinary favourites with a twist. XinTekka is set to be Singapore’s newest dining destination.

    “We very much look forward to the forthcoming completion of Tekka Place, which will add to the revitalisation of the precinct as well as the dynamism of Little India,” said Rajakumar Chandra, chairman of the Little India Shopkeepers and Heritage Association.

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  • Berjaya Land to build Four Seasons Resort in Okinawa for US$1b GDV

    Berjaya Land to build Four Seasons Resort in Okinawa for US$1b GDV

    Berjaya Land Bhd’s (BLand) subsidiary Berjaya Okinawa Development Co Ltd will develop the Four Seasons Resort and Private Residences Okinawa in Japan, which has an estimated gross development value of US$1 billion (RM4.1 billion), in partnership with hospitality company Four Seasons Hotels and Resorts. BLand’s parent Berjaya Corp Bhd founder and executive chairman and BLand major shareholder Tan Sri Vincent Tan said the project has a development cost of US$400 million (RM1.64 billion).

    Four Seasons Resort and Private Residences Okinawa will have 120 hotel rooms, 120 residences and 40 villas. The project is expected to take four years to complete.

    Tan said Four Seasons Resort and Private Residences Okinawa is another iconic project in Japan for the Berjaya group, emulating the success of Four Seasons Hotel and Hotel Residences Kyoto, which was launched in December 2016.

    “We think it will be the most valuable and expensive hotel in Okinawa. It will have the highest rate, just like Four Seasons Kyoto where the average rate is US$1,500 per night, but Okinawa will be slightly less. It will be good for BLand and BCorp,” he said at the hotel management agreement signing ceremony.

    He added that four-star hotels in Okinawa average at US$700-US$800 per night while the better ones are priced at US$1,000, viewing that Four Seasons Resort and Private Residences Okinawa will do well there.

    “I’m confident that Okinawa will be an outstanding successful project for Berjaya,” said Tan.

    The project will comprise 30 acres out of the 100 acres of beachfront land owned by BLand along the western coast of the island of Okinawa.

    “We have another 70 acres. We can build many more hotels on that land and Okinawa is a good market. We can do shopping mall, residences, three- or four-star hotels,” added Tan.

    This is BLand’s second partnership with Four Seasons but Tan said both parties are also in talks on future projects in Japan and other cities.

    Four Seasons operates 111 hotels and resorts, 41 residential projects in major city centres and resort destinations in 47 countries, and with over 50 projects under planning or development.

    “We have plans to grow our footprint in Japan such as Osaka, Hakone, leisure destination in Hokkaido, including Niseko. It’s a country that we continue to focus on, not only growth but also operating existing assets there,” said Four Seasons Hotels and Resorts senior vice-president for development Asia Pacific Christopher Wong.

    When asked if Four Seasons Resort and Private Residences Okinawa will also be put for sale, like the Four Seasons Kyoto, Tan said it is possible, adding that every thing is up for sale with the right price.

    On the divestment of the Four Seasons Hotel in Kyoto, Tan said it is talking to several parties for a better price and is expected to be finalised in the next three months.

    On the plan to carve out the hotel assets from BLand and to list the hotel business in Singapore, Tan said it is not finalised yet, but it could include Malaysian hotel assets.

    “We will list those that we’re not selling. We have a few hotels that we’re not selling like Berjaya Times Square Hotel and Ansa Kuala Lumpur. Those that we want to hold for long term, mostly are the Malaysian hotels,” he added.

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  • LVMH acquires Belmond hotel group

    LVMH acquires Belmond hotel group

    The London-based owner of the Hotel Cipriani in Venice and the Orient Express train service is being acquired by LVMH for $3.2bn including debt, marking a return to dealmaking by the world’s largest luxury group by revenues. The acquisition of Belmond boosts the hotel portfolio of LVMH, which already has Cheval Blanc hotels in Courchevel, the Maldives, Saint-Barthélemy and Paris as well as owning Bulgari Hotel and Resorts.

    Belmond operates in 24 countries and its hotels include the Copacabana Palace in Rio de Janeiro and Hotel Splendido in Portofino. It also owns train services such as the Venice Simplon-Orient-Express and Belmond Royal Scotsman, and cruises including Belmond Afloat in France and Belmond Road to Mandalay.

    LVMH, which owns brands such as Christian Dior and Louis Vuitton, saw off interest from several other potential bidders for the deal, including private equity groups.

    Belmond, which used to be known as Orient-Express Hotels, had said in August it had hired Goldman Sachs and JPMorgan Chase for a strategic review.

    The acquisition of Belmond comes as companies seek to tap into a rising trend of so-called “experiential” luxury, with consumers buying fewer products and more experiences in areas such as high-end food and wine, luxury hotels and travel.

    “Our agreement today with the Belmond Group is entirely consistent with our continued investment in the field of experiential luxury,” Bernard Arnault said.

    He added that the deal will “bring us ever closer to our highly discerning customers”. “Bernard Arnault was one of the first to think hard about how best to attract and retain an increasingly volatile luxury customer,” said Thomas Chauvet, analyst at Citi. “Over the past decade, LVMH has expanded its reach beyond its traditionally boundaries with continued expansion of travel retail, the rollout of high-end hotels and spas,” he said.

    “While these activities have a limited impact on LVMH’s overall profit, these have been among the group’s fastest growing businesses over the past few years.” The global luxury hotel market was worth at $83.1bn in 2017 and is expected to grow at a compound annual growth rate of 4.3 per cent to reach $115.8bn by 2025, according to Grand View Research, a consulting firm.

    Paris-based LVMH said on Friday that it was buying Belmond for $25 per share in cash — a premium of more than $7 per share to the stock’s closing price on Thursday. That represents a value of $2.6bn for the overall equity of group.

    Including debt, Belmond is being valued at $3.2bn.

    In the year to September, Belmond made adjusted earnings before interest, tax, depreciation and amortisation of $140m on revenues of $572m.

    Its average price per room night ranges from $1,206 in Europe to $448 in Asia.

    The last substantial deal by LVMH chairman and chief executive Bernard Arnault was more than 18 months ago, when his family company Groupe Arnault paid €12.1bn for the minority stake that it did not already own in Christian Dior.

    At the time Mr Arnault said that LVMH was shunning external acquisitions because they were either unavailable or too expensive. “We’re not actively looking at external acquisitions, we’re focusing on internal growth,” said Mr Arnault in April 2017. “Given the current market, fewer and fewer assets are looking attractive to us. And the best assets are not for sale.”

    In 2016, LVMH also bought high-tech German suitcase maker Rimowa, which is headed by Mr Arnault’s son, Alexandre Arnault.

    The Belmond transaction is expected to complete in the first half of 2019.

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