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Main performers with promising future earnings in the sector ....
#AHPL :
Asian Hotels & Properties PLC (AHPL) is an 84% owned subsidiay of the largest listed conglomerate, John Keells Holdings PLC ( JKH). The company’s strategic business units include the Hotel operations, under which it controls approximately 40% of 5 Star city room supply, while the other being the Property Development arm. The Property Development arm completed the construction of the “Monarch” and has begun the construction of the 3rd residential apartment, the “Emperor”, with already around 79% of the apartments being sold off plan.
The Hotels owned and managed by AHPL include the Cinnamon Grand and the Trans Asia PLC (TRAN), located at the heart of the Colombo city. The Cinnamon Grand is a wholly owned subsidiary of AHPL while its stake in TRAN amounts to 42%. A further 49% of TRAN is owned by JKH, giving AHPL management control over Cinnamon Lakeside hotel.
AHPL currently controls approximately 40% of 5 star room supply in the city, while the
total city room supply is likely to remain unchanged atleast during the next couple of
years. With tourists arrivals expected to grow on a stagnant room supply, there is
significant upward potential for both hotels on the room rates and occupancies assumed
in the model. The Property Division too will bring in a stream of revenue during the
next couple of years until the next development project is unveiled.
#AHUN :
Aitken Spence Hotel Holdings PLC (AHUN) has a well diversified portfolio of
hotels in Sri Lanka, as well as operations spanning across both Asian as well as Middle Eastern regions. The company owns and operates 5 hotels boasting 465 rooms in Sri Lanka along with 2 hotels as associate companies while in the Maldives, it owns 7 hotels possessing 591 rooms. AHUN also manages 4 and 5 hotels in India and Oman respectively.
We believe that with positive growth in tourism in FY2011E coupled together with an
increase in average room occupancy to 72% and Average Room Rates (ARR) to US$
82, the local resorts and hotels are likely to generate an operating profit of Rs. 1,138
million.
Maldives operations have been successful as room occupancies on average have
remained above 80% during the last 3 years. Nevertheless, the segment has suffered
badly from the global economic downturn as approximately 73% of its tourism is
generated from the Europe. With the hope of recovery in the global economy towards
CY2011, we expect tourism to kick back with at least 85% room occupancy enabling
AHUN to generate approximately Rs. 930 million in Operating profit for FY2011/2012E.
(Source : JKPublications )
#AHPL :
Asian Hotels & Properties PLC (AHPL) is an 84% owned subsidiay of the largest listed conglomerate, John Keells Holdings PLC ( JKH). The company’s strategic business units include the Hotel operations, under which it controls approximately 40% of 5 Star city room supply, while the other being the Property Development arm. The Property Development arm completed the construction of the “Monarch” and has begun the construction of the 3rd residential apartment, the “Emperor”, with already around 79% of the apartments being sold off plan.
The Hotels owned and managed by AHPL include the Cinnamon Grand and the Trans Asia PLC (TRAN), located at the heart of the Colombo city. The Cinnamon Grand is a wholly owned subsidiary of AHPL while its stake in TRAN amounts to 42%. A further 49% of TRAN is owned by JKH, giving AHPL management control over Cinnamon Lakeside hotel.
AHPL currently controls approximately 40% of 5 star room supply in the city, while the
total city room supply is likely to remain unchanged atleast during the next couple of
years. With tourists arrivals expected to grow on a stagnant room supply, there is
significant upward potential for both hotels on the room rates and occupancies assumed
in the model. The Property Division too will bring in a stream of revenue during the
next couple of years until the next development project is unveiled.
#AHUN :
Aitken Spence Hotel Holdings PLC (AHUN) has a well diversified portfolio of
hotels in Sri Lanka, as well as operations spanning across both Asian as well as Middle Eastern regions. The company owns and operates 5 hotels boasting 465 rooms in Sri Lanka along with 2 hotels as associate companies while in the Maldives, it owns 7 hotels possessing 591 rooms. AHUN also manages 4 and 5 hotels in India and Oman respectively.
We believe that with positive growth in tourism in FY2011E coupled together with an
increase in average room occupancy to 72% and Average Room Rates (ARR) to US$
82, the local resorts and hotels are likely to generate an operating profit of Rs. 1,138
million.
Maldives operations have been successful as room occupancies on average have
remained above 80% during the last 3 years. Nevertheless, the segment has suffered
badly from the global economic downturn as approximately 73% of its tourism is
generated from the Europe. With the hope of recovery in the global economy towards
CY2011, we expect tourism to kick back with at least 85% room occupancy enabling
AHUN to generate approximately Rs. 930 million in Operating profit for FY2011/2012E.
(Source : JKPublications )
