Featured in this Asia Pacific Hospitality Newsletter - Week Ending 09 April 2004
Hyatt International launches vacation ownership in India
Regal Hotel reports net profit of HK$207.8 million
Club Med to expand in Asia
Swiss-Belhotel International adds one in Vietnam
Flag Choice Hotel announces 35 new associated properties in Asia
JAL Hotels Company adds one in Japan
Life Resorts to open hotels in Vietnam
Ansari Estate opens the Marina Towers in India
Visitor arrivals to Taiwan down in the first quarter 2004
HVS International – New Candidates for the China Market


Hyatt International launches vacation ownership in India Return to Headlines
Hyatt International has started selling vacation ownership units at Hyatt Grand Aspen Resort in India. To date, all units released, have sold out, with sales in excess of US$35 million. Sales for the 51-room property are expected to continue throughout the year. The Hyatt Grand Aspen is slated to open December, 2005. The resort, located at the base of Aspen Mountain and next to the gondola, will comprise 30 three-bedroom units, 19 two-bedroom units and two one-bedroom units.

Regal Hotel reports net profit of HK$207.8 million Return to Headlines
According to The Standard, Regal Hotels International Holdings posted a net profit of HK$207.8 million in 2003 compared to a net loss of HK$780.8 million in 2002. The gain was mainly attributable to the reviving in hotel industry and recovering in property sales. Regal, which operates a chain of five hotels, said that segment made a profit of HK$124.3 million last year, compared to a loss of HK$412.6 million in 2002. Furthermore, the company’s debt levels improved from HK$9 billion to HK$4.5 billion owing to the disposal of several assets.

Club Med to expand in Asia Return to Headlines
French vacation group Club Mediterranee expects 20-30% revenue growth in Asia this year. The growth is in line with its expansion plan in the region. Club Med is set to open a third village in the Maldives this year. Furthermore, the company is investigating opportunities in Vietnam, India, China and Sri Lanka, according to Asia Pacific president and chief executive Joel Tiphonnet. Currently, Club Med has 10 resorts in the region, including two in Indonesia, Japan and Maldives and one each in Australia, Thailand, Malaysia and Tahiti. In 2003, the Asia-Pacific operation contributed to approximately 15% of the company’s global revenues. The resort’s main feeder markets are Asian countries, including Japan, Australia, South Korea, Hong Kong, Singapore and Malaysia.

Swiss-Belhotel International adds one in Vietnam Return to Headlines
Swiss-Belhotel International has signed an agreement with Hiep Long Company to manage one more hotel in Vietnam. Positioned in the four-star hotel segment, the Mithrin Hotel is located in Halong. The newly-opened hotel comprises 90 rooms and suites, recreational facilities and a banquet hall which can accommodate up to 250 guests. In Vietnam, Swiss-Belhotel International currently manages the 250-room Horison Hotel (Hanoi) and the 500-room VinPearl resort & Spa (Nha Trang). Furthermore, the group will open the 80-room Hue-Abalone Resort & Spa and the 212-room Golden Sand resort (Hoi An) in 2004 as well as the 280-room Hung Vuong Hotel and the 80-Villa Swiss-Belhotel Beach Resort in 2005.

Flag Choice Hotel announces 35 new associated properties in Asia Return to Headlines
Flag Choice Hotels announced the signing of 35 new franchise partners with more than 3,000 new rooms under Comfort Inn, Quality and Clarion brands across the Asia Pacific region. In Shanghai, the group added the Clarion Rendezvous Merry Hotel to its portfolio. In Singapore, the company added two hotels to its portfolio, namely, the Comfort Inn Temple Street and the Clarion Rendezvous Hotel Singapore. The other new properties are located in New Zealand and Australia, including Queensland, Victoria, New South Wales, Western Australia, Northern Territory, South Australia and Tasmania.

JAL Hotels Company adds one in Japan Return to Headlines
JAL Hotels Company and Asset Managers Company signed an agreement to manage a hotel in Japan under its Nikko brand. The hotel will be the 55th property managed by JAL Hotels. Expected to re-open in June 2004, the Ibaraki Kyoto Hotel will be re-branded the Hotel Nikko Ibrakai after completing renovation projects, including the lobby, guest rooms and dining facilities. The hotel comprises 103 rooms, seven restaurants, meeting and recreational facilities.

Life Resorts to open hotels in Vietnam Return to Headlines
Life Resorts, a consortium of Austrian and Dutch investors, opened a 4-star resort in Quang Nam Province, Vietnam. The US$5 million Life Resorts Hoi An Riverpark, located in Hoi An town, covers a land area of 2.3 hectares. In addition to the 94-room resort, the group plans to open another luxury resort on Vong Canh Hill overlooking the Hue city.

Ansari Estate opens the Marina Towers in India Return to Headlines
Ansari Estate Pvt Ltd launched the Marina Towers, a three-star budget hotel in Chennai, India. Situated on a 16-acre property, the 120-room hotel is being opened in phases, with 56 rooms immediately available for use. In addition to the rooms, the 10-crore project will include two banquet halls, a restaurant and a permit room.

Visitor arrivals to Taiwan down in the first quarter 2004 Return to Headlines
According to the Taiwan Tourism Bureau, visitor arrivals to Taiwan are expected to decline below the projected target in the first quarter of this year due to the result of the political instability. The government designated 2004 as the "Year of Tourism" for Taiwan with an aim of attracting at least 3.2 million tourists. However, tourist arrivals reached 212,854 in January and 221,020 in February, a decline of 10.6% and 15%, respectively, compared to the same period 2003. During the period, arrivals from the main feeder market, Japan, decreased by more than 30%.

HVS International – New Candidates for the China Market Return to Headlines

As part of its growth strategy for Asia, HVS International is actively recruiting new professional staff to be based in China.

As a leading hotel consulting firm in the region, HVS International has constantly been called upon to provide consulting, valuation and investment advice on hotel and resort development projects across China. HVS International is looking for more professional staff to enhance its China operation and service its clients which comprise both regional and international hotel investment companies and local owners and developers.

Experience in real estate and/or hotel business and ability to communicate in Mandarin are essential. If you are interested and would like to be considered for one of the positions, please send your resume in confidence to: Ms. Sharon Ng via email: sng@hvs.com.sg or write to us at: HVS International, #32-04 Shaw Tower, 100 Beach Road, Singapore 189702. Tel: 65-6293 4415 Fax: 65-62935426.


Absolute Share Price Performance, as at 09 April 2004