HOTEL OPERATIONS – CRYSTALISING VALUES
16
Hotels/ FY2015
Location
Total room Occupancy (%)
ADR (HK$)
GRAND HYATT HONGKONG*
Wanchai
539
62
3,268
RENAISSANCE HARBOURVIEW
Wanchai
857
78
2,062
HYATT REGENCY TST
TST
381
89
2,099
HYATT REGENCY SHA TIN
Sha Tin
559
83
1,332
PENTAHOTEL KOWLOON
Kowloon East
695
78
682
CRYSTALISING HOTEL ASSET VALUE
- On 29 April 2015, formed a JV with HIP, a wholly owned subsidiary of ADIA to own major hotel assets in Hong Kong
- Grand Hyatt Hong Kong, Renaissance Harbourview and Hyatt Regency TST
- The attributable consideration to NWD around HK$10 billion and the transaction was completed in FY2015
- A long-term relationship and opportunities to explore together with the new partner
- The transaction is in-line with NWD’s strategy to effectively allocate resources throughout the Group
*Under major renovation
