CBRE 2011 Hotel Investment Strategy What Every Developer Should Know VN

2011 Chin lc u t Khch sn: Mi nh u t nn bit nhng gMi nh u t nn bit nhng g

Thuyt trnh bi:

Khch sn New World, 27/09/2011

Thuyt trnh bi:

Robert McIntosh, Gim c iu hnh, CBRE Hotels,

Chu Thi Bnh Dng

TM TT

Hot ng khch sn

u t khch sn trong khu vc

u t khch sn qua cc phn khc bt ng sn

Qu tn thc bt ng sn khch sn (Hotel REITs)Qu tn thc bt ng sn khch sn (Hotel REITs)

Bn v Cho thu li

Tiu chun Qun l v Thng hiu

CB Richard Ellis | Page 2

Tnh hnh hot ng khch sn

Hot ng khch sn trong khu vc (Upper-Upscale-Luxury)

250

Average Daily Rate (MAT)

200

150

100

50

0Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11

Vietnam Singapore Kuala Lumpur


Vietnam Singapore Kuala LumpurJakarta Bangkok ManilaHong Kong SAR

Source: STR Global/CBRE Hotels


90%

Occupancy (MAT)

80%

85%

70%

75%

60%

65%

55%

60%

50%Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11

Vietnam Singapore Kuala Lumpur


Vietnam Singapore Kuala LumpurJakarta Bangkok ManilaHong Kong SAR

Source: STR Global/CBRE Hotels


160

RevPAR (MAT) Indexed Local Currency

140

100

120

80

60

40Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11

Vi t Si K l L J k t


Vietnam Singapore Kuala Lumpur Jakarta

Bangkok Manila Hong Kong SAR

Nhu cu ti th trng Tp. H Ch Minh

8,000

9,000

6 000

7,000

8,000

r

s

(

'

0

0

0

)

4 000

5,000

6,000

u

m

b

e

r

o

f

v

i

s

i

t

o

r

2 000

3,000

4,000

N

0

1,000

2,000

02004 2005 2006 2007 2008 2009 2010

International visitors to HCMC ('000) Domestic visitors to HCMC ('000)


Ngun cung khch sn thi trng Tp. H Ch Minh

5,000

4,000

t

e

l

r

o

o

m

s

2 000

3,000

N

u

m

b

e

r

o

f

h

o

t

1,000

2,000

02000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 F2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-F

5 star 4 star 3 star


Ngun cung khch sn 5 sao v Cng sut phng - HCMC5 star

70%

75%5,000

5 star

60%

65%4,000

t

e

l

r

o

o

m

s

50%

55%3,000

N

u

m

b

e

r

o

f

h

o

t

40%

45%

1 000

2,000

30%

35%

40%

0

1,000

30%02000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-F

Supply Occupancy


Ngun cung khch sn 4 sao v Cng sut phng - HCMC

90%3,000

4 star

70%

80%

2,000

e

l

r

o

o

m

s

60%

70%2,000

N

u

m

b

e

r

o

f

h

o

t

e

50%1,000

30%

40%

02000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-F

Supply Occupancy


Ngun cung khch sn 3 sao v Cng sut phng - HCMC3 star

90%5,000

3 star

70%

80%4,000

o

t

e

l

r

o

o

m

s

60%

2 000

3,000

N

u

m

b

e

r

o

f

h

o

40%

50%

1,000

2,000

30%

40%

02000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 F2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-F

Supply Occupancy


D on ngun cung th trng Tp. H Ch Minh

7,000

5,000

6,000

r

o

o

m

s

4,000

N

u

m

b

e

r

o

f

h

o

t

e

l

2,000

3,000N

0

1,000

02000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-F 2012 2013

5 star 4 star 3 star


Mi trng u t khch sn

Gi tr khch sn chuyn nhng (Chu Thi Bnh Dng)Hotel sales volume (US$ Billions)

$1.8

$2.0

Hotel sales volume (US$ Billions)

$1 4

$1.6

$1.2

$1.4

$0.8

$1.0

$0.4

$0.6

$0.0

$0.2


08Q1 08Q2 08Q3 08Q4 09Q1 09Q2 09Q3 09Q4 10Q1 10Q2 10Q3 10Q4 11Q1 11Q2Source : RCA

Cc nh u t hin ang u t vo th trng no?

Not Applicable

Cambodia

Macauu t hin nay ti cc th

trng Chu

Vietnam

Philipines

pp

Hong Kong

Japan

Malaysia

India

Indonesia

Australia & New Zealand

Tier 1 Chinese cities


Thailand

Singapore


Source Terrapinn, Hospitality Real Estate Investment survey 2011

0% 5% 10% 15% 20% 25% 30% 35% 40%

Cc nh u t s hi iu g?

Nhn t ri ro ln nht i vi th trng

Tr ngi v mt php l

Nhn t ri ro ln nht i vi th trngngh dng Chu trong 12-18 thng ti

Khng b

Chi ph ti chnh cao

Ri ro tin t

g

Bt n kinh t

Lm pht

Bt n chnh tr

0% 10% 20% 30% 40% 50% 60% 70%

Bong bng bt ng sn



Cc nh u t d tnh s u t vo th trng no?

Future investment in the following Asian markets


Cambodia

Macauu t tng lai ti cc th

trng Chu


Japan


Malaysia

Thailand

I d i


Hong Kong

Philipines

India

Indonesia

Vietnam

Singapore

p



0% 5% 10% 15% 20% 25% 30% 35% 40%

u l th trng tim nng?

Luxury resorts

Themed/concept hotels

Boutique resorts

Tng trng tim nng khu vc Chu trong12-18 thng ti

Integrated resorts

Themed/concept resorts

Luxury resorts

Boutique serviced apartments

Beach resorts

L i d

Recreation resorts

Family-oriented serviced apartments

Full-service hotels

Boutique hotels

Luxury serviced apartments

Economy hotels

Budget hotels



0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Ti sn khch sn trong Danh mc du t a dng

Cc c im ca u t khch sn

Ri ro/khng n nhAn ton ca thu nhpu t vo kinh doanh ch khng ch l mt dng btu t vo kinh doanh ch khng ch l mt dng btng sn Ph thuc vo vic qun lPh thuc vo vic qun lKhch hng a dngCc nhn t bn ngoiCng sut phng v gi phngCng sut phng v gi phngnh hng ca cc thay i trong thu nhp


Chu k khc nhau i vi phn ti sn cn li

Th trng Australia


Ti sn khch sn Nhng iu cn lu

Th ic trng ca bt ng sn c trng ca phn khc

Thng mi

V tr Li nhun doanh nghip

Cht lng ta nh To vic lm

Cc chi ph bo tr

Thi hn thu v cht lng ca khchthuthu

h h h i

c trng ca bt ng sn c trng ca phn khc

Khch sn nh trn, cng vi

c trng ca bt ng sn c trng ca phn khcThng hiu C s h tng

Ngun khch hng Ngun nhn lc


T l li nhun ca khch sn qua cc phn khc bt ng sn

(Australia)


Cc qu tn thc bt ng sn khch sn

Mt nht thi hay u t di hn?

Qu tn thc bt ng sn - REIT Mt tp on hoc qu u t s dng ngun vn gp t nhiu nh u Mt tp on hoc qu u t s dng ngun vn gp t nhiu nh u

t mua li v qun l thu nhp REITs c giao dch trn cc th trng chng khon ln nh c g g g

phiu c u i v thu REITs mang n nhiu li ch thng qua vic s hu bt ng sn

u tin, chng mang tnh thanh khon cao, khng ging cc bt ng sn truyn thng no

Th hai, REITs cho php chia s cc bt ng sn phi dn c, nhkhch sn trung tm mua sm v cc bt ng sn thng mi vkhch sn, trung tm mua sm v cc bt ng sn thng mi vcng nghip khc

Th ba, khng gii hn s vn u t i vi REITsTh ba, khng gii hn s vn u t i vi REITs Php l Nht Bn, Singapore, Hong Kong, Hn Quc, i Loan,

Thi Lan v Malaysia


REITs Chu


Cc qu tn thc bt ng sn khch sn Hotel REITs

S lng Cc xut mi Cc nguyn nhn Cc nguyn nhn Cc cu trc cho thu Pht trin H thng H thng Qun l Cc chi ph thnh lp Th ch ha u t


Th ch ha u t

REITs


BN v CHO THU LI

Cc chin lc exit

BN v CHO THU LI

Bn ti sn nhng gi li quyn s dng thng qua mt hp ngcho thuc o t u

Khon tin thu l c nh hoc c nh + khon tin thu binii

Gii phng vn cho cc nh u tp g Cung cp cho nh u t dng thu nhp n nh hn Cn hiu c cc ri ro

Ph bin mt s nc Chu u v Nht Bn


BN v CHO THU LI

Hp ng cho thu khch sn Mt s im tho lun

Cu trc gi thug iu khon thu Cc la chn gia hn thu FF&E Chi ph vn Bo dng hng ngyBo dng hng ngy t cc Bo him

Chuyn nhng Kim ton Ht hn hp ng Ht hn hp ng


n v qun l khch sn v Thit k

Mt s vn

Lm th no la chn mt n v qun l

Mt n v qun l quc t c th l mt li th nhng cn phi cn nhck trong khi:

Trc khi khai trng

La chn n v qun l La chn thng hiu Cc iu khon thng mi (MOU) Hp ng qun lSau khi khai trng

Ph duyt ngn sch hng nm Xem xt ngn sch hng thng

Cc sai st trong qu trnh la chn c th s tn km v sau cho cc nh


u t

Ch u t mong mun iu g?

Ch u t n v iu hnh

n v iu hnh-i tc Ch n v iu hnh

Ti a ha t l hon vn Gi cc tiu chun

Thit k ca ch u t Thit k ca n v iu hnh

Ch u t kim sot hon ton n v qun l kim sot hon ton

Thng hiu linh hot (chi ph thp hn) Thng hiu khng linh hot

Ch u t kim sot hon ton n v qun l kim sot hon ton

Ch u t kim sot mua bn n v iu hnh kim sot mua bn

Thng hiu linh hot (chi ph thp hn) Thng hiu khng linh hot

Hp ng ngn hn (5-10 nm) Hp ng di hn (30-50)

Quyn chm dt Khng chm dt


Quyn chm dt Khng chm dt

Tiu chun gii hn Theo nhiu tiu chun

Tiu chun thng hiu

Kim sot thng hiu hot ng nh th no?

Ph duyt quy

Hon thnh Thit

Xy dng Tin khai trng Khai trng

y gGiai on xy dng

hoch/Thit k k/Tin xy dngXy dng Tin khai trng Khai trng

q p p g Nhn s ca n v qun l can thip vo - Hp ng h tr k thut

InputfromBusiness

OperatorProjectManager

(headquarter),Designreview,

focusing on :VPOperation:

GM hiring VP O iP h iDeveloperGeneralSuggestions

focusingon:

Roomsize

Circulations

Reception

GMhiring

StafftrainingVPOperation

BrandstandardControl

VPOperation(inspections)

SafetyRegulation..

PurchasingDepartment(inspections)

HotelEquipment

Furniture Facilities

Landscaping

Parking

Furniture


Tiu chun thit k v thng hiu

Trng hp c th: Ibis, Accor Hospitality

Loi phng: Twin / King 17 sqmTi hi h b Tin nghi trong phng bao gm:

H thng iu ha ring T lnh

Kt st an ton Kt st an ton ng h/Radio ISD/STD telephone and voicemail Tin nghi tr/cafe


g Ti vi

TI A HA LI NHUN

Mt vi vn

TI A HA LI NHUN

Bn c bit nhiu nh cc n v qun l? Nu mt thng hiu quc t i km cc tiu chun ng tin hnh trong vi vng tp trung vo $$$ Suy ngh v tng lai khng phi qu kh Li nhun n t u? Cc ngun thu nhp khc cc ri ro v tnh tng thchg p g

Bn l Spa

S b Sng bc Thc n v ung NightclubNightclub Kim sot cc chi ph Thng hiu ph hp vi bt ng sn


Thng hiu ph hp vi bt ng sn

Dch v T vn Khch sn CBRE Vietnam

Mi gii

La chn n v iu hnh

Tm kim n v iu hnh

m phn hp ng qun lm phn hp ng qun l

T vn u t

Thm nh gi

T vn pht trin

Nghin cu th trng


Nghin cu th trng

TM TT

Hot ng khch sn g

u t khch sn trong khu vc

u t khch sn qua cc phn khc bt ng sn khc

Qu tn thc bt ng sn khch sn

Bn v Cho thu li

Ti h l th hiTiu chun qun l v thng hiu


Chn thnh cm n qu v

CHI TIT LIN HMauro Gasparotti

Hotel Services - CBRE Vietnam

M 84 903 028 722

Robert McIntosh

Executive Director - CBRE Hotels Asia Pacific

Duong Thuy Dung

Research & Consultancy - CBRE Vietnam

M 84 913 381 118


M 84 903 028 722

Email: [email protected]

2010 CB Richard Ellis (Vietnam) Co., Ltd.

M 65 8123 0208


M 84 913 381 118


Documents

CBRE 2011 Hotel Investment Strategy What Every Developer Should Know VN