Featured in this Asia Pacific Hospitality Newsletter - Week Ending 30 April 2004
Natural Park to develop resort in Japan
Marriott to manage two new luxury hotels in Beijing
Starwood H&R to manage a hotel in China
Cendant to introduce Super 8 brand
Shangri-La H&R to launch new spa brand
Boutique hotel in Bangkok
Millennium & Copthorne to acquire outstanding shares in Kingsgate
HVS International – Vacancies for Asia Offices


Natural Park to develop resort in Japan Return to Headlines
Listed developer Natural Park Plc has expanded overseas, with a THB700-million investment through its wholly-owned subsidiary Kyoto Resort to develop a five-star resort hotel in Japan. Kyoto Resort has sealed an agreement to purchase a 100-rai parcel of land near the Kinkakuji Temple in Kyoto for THB240 million. The real estate developer plans to turn the first 20-rai plot into a five-star hotel, managed by Singapore-based Amaresorts Group. The total cost of the land and construction will be around THB700 million and the exclusive hotel is expected to open in 2007. N-Park expects overseas investments to represent half of its investment portfolio over the next two years.

Marriott to manage two new luxury hotels in Beijing Return to Headlines
Marriott International signed an agreement with Beijing Guohua Real Estate Co. to manage two luxury hotels in Beijing under the Ritz-Carlton and JW Marriott brands. The two hotels are located in the Central Business District on Changan Avenue and are due to open in 2007. Both properties will be part of a mixed-use development complex that will include more than 230,000 square meters of office space, eight residential towers, 160,000 square metres of retail shopping space, a large park and sports centre. Construction is expected to start later this year. The Ritz-Carlton Hotel will comprise 320 rooms, 5 food & beverage outlets, 6 spa treatment rooms and a 1,245 square meters of conference space including a 700 square metre ballroom. The JW Marriott will comprise 591 rooms, 5 food & beverage outlets, 8 spa treatment rooms and a 2,255 square meters of meeting space including a 1,200 square metre grand ballroom.

Starwood H&R to manage a hotel in China Return to Headlines
Starwood Hotels & Resorts Worldwide signed an agreement with Ningbo East Seaport Hotel Co. to manage a hotel in Ningbo China. The newly-built Sheraton Ningbo Hotel is scheduled to open in July 2006. Located in Ningbo's Central Business District, the hotel is part of a mixed-use complex including the hotel, offices, condominiums and retail components. The hotel will comprise 381 rooms, 2,000 square metre of meeting space and 4 dining outlets.

Cendant to introduce Super 8 brand Return to Headlines
Cendant Corporation's Hotel Group plans to expand its Super 8 brand in China. Super 8 is Cendant’s two-to three-star hotel brand. Tian Rui Hotel Corp, a privately held company based in Hong Kong, has committed to develop more than 55 Super 8 hotels during the next five years under a master license agreement. The company plans to open five Super 8 hotels this year. The first hotel is expected to open in Beijing next month.

Shangri-La H&R to launch new spa brand Return to Headlines
Shangri-La Hotels & Resorts announced the launch of a new spa brand, CHI. The first CHI spa is scheduled to open at the Shangri-La Bangkok in June 2004. There are plans for 10 CHI spas to be launched in various hotel locations over the next few years. According to Shangri-La, CHI will feature some of the largest and most luxurious private spa suites and villas. It will offer a range of specialised body, water, massage and facial therapies based on the ancient healing traditions, philosophies and rituals of China and the Himalayas.

Boutique hotel in Bangkok Return to Headlines
Siam Heritage, a new boutique hotel will open in Bangkok, Thailand in May. The owner, the Bundityanand family, which also owns the Rabbit Resort in Pattaya, and condominium and serviced apartments in Bangkok, invested THB100 million into the construction of the hotel, excluding the land cost. The 69-room hotel will be located on Surawong Road.

Millennium & Copthorne to acquire outstanding shares in Kingsgate Return to Headlines
According to Channel News Asia, Millennium & Copthorne plans to take control of Kingsgate International private, which owns the Millennium Sydney Hotel and shopping malls in Sydney, Australia. A subsidiary of Millennium & Copthorne and Tai Tak, a Singapore-based partner already own 83 % of Kinsgate. It will offer NZ$0.32 New Zealand for each Kingsgate share, or a total of approximately US$79 million (S$134 million) for all of the outstanding shares.

HVS International – Vacancies for Asia Offices Return to Headlines

As part of its growth strategy for Asia, HVS International is actively looking for more professional staff with experience in real estate and/or hotel business to service its clients in North Asia and Southeast Asia.

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 30 April 2004