Featured in this Asia Pacific Hospitality Newsletter - Week Ending 27 February 2004
Shangri-La H&R to manage hotel in Suzhou, China
Greenery Resort to launch theme park in Thailand
Emaar Properties set to develop Armani hotel brand in Tokyo and Shanghai
Burswood reports A$24.1 million net profit in second half of 2003
Sofitel Silom awarded five-star certification
Reef Casino Trust’s net profit up 33% in 2003
Amarin Plaza reports THB315.51 million net profit in 2003
Green Circle Properties and Resources to develop beach resort in Philippines
Hong Kong Tourism Board expects visitor arrivals up 31.8% in 2004
Landmark Bangkok completes room renovations
Le Meridien H&R to manage second hotel in Shanghai
More four- & five-star hotels to be developed in Bangladesh
Shangri-La Hotel Thailand reports THB234.03 net profit in 2003
Marriott International to add 10 hotels in Asia by 2006
Amari Palm Reef Resort completes renovations
Royal Garden Resort reports THB400.57 million net profit
New property laws in Bangkok, Thailand
Shangri-La to launch hotel in Guangzhou, China
Hongkong and Shanghai Hotels reports HK$618 million operating profit in 2003
Central Plaza’s net profit up 25% in 2003
Shangri-La H&R to manage hotel in Suzhou, China Return to Headlines
23 February 2004 – Shangri-La Hotels and Resorts signed an agreement with New World (Qingdao) Estate Development Group to operate a hotel in Suzhou, in the south of Jiangsu, China. The Traders Hotel will be located in the city’s hi-tech development zone and is scheduled to open in mid-2005. Designed by Jiangsu Construction Design Institute, the hotel will comprises 420 rooms, 3 food & beverage outlets as well as recreational facilities and an 800-square-metre conference hall.

Greenery Resort to launch theme park in Thailand Return to Headlines
23 February 2004 – The Greenery Resort in Khao Yai, in Nakhom Nayok Province, Thailand is set to launch a THB130-million theme park at the end of the year. Adventure World will comprise 13 activities, including ATV car-driving, paint ball, softball, bowling and two Wild West theme activities. Subsequently, the 146-room resort has plans to add 80 rooms additional to its inventory.

Emaar Properties set to develop Armani hotel brand in Tokyo and Shanghai Return to Headlines
23 February 2004 – Giorgio Armani S.p.A. will form a partnership with Dubai's Emaar Properties to develop 10 luxury hotels and four resorts over the next six to eight years. The US$1 billion joint-venture will include hotels in Milan, Dubai, London, Paris, New York, Tokyo and Shanghai with six hotels and two resorts opening within five years. Armani will oversee the hotels' design and styling whilst Emaar will be responsible for real estate, management and development cost.

Burswood reports A$24.1 million net profit in second half of 2003 Return to Headlines
23 February 2004 – Burswood Limited, an Australian casino operator, reported a net profit of A$24.1 million in the second half of 2003, compared to A$4.5 million in the previous corresponding period. Total revenue increased by 5.9% to A$186.2 million in 2003, from the previous period's A$175.8 million.

Sofitel Silom awarded five-star certification Return to Headlines
23 February 2004 – Sofitel Silom Bangkok has been awarded five-star certification by the Tourism Authority of Thailand, the Thai Hotel Association and the Association of Thai Travel Agents. The 454-room hotel, under Accor management since completing major refurbishment works in 2001-2002, is one of only 17 hotels nationwide to receive the coveted five-star ranking. This certification recognises Sofitel Silom Bangkok’s high standards for interior design, comfort, facilities and outstanding service.

Reef Casino Trust’s net profit up 33% in 2003 Return to Headlines
24 February 2004 – Australian-based Reef Casino Trust reported a net profit of A$11.1 million in 2003, a 33% increase compared to the previous corresponding year’s A$8.4 million. Earnings per unit increased from 16.8 cents in 2002 to 22.3 cents in 2003. Reef Casino Trust is a single purpose trust that is listed on the Australian Stock Exchange. Accor group and Casinos Austria are the two largest unit-holders. The trust's main asset is the Reef Hotel Casino complex in Cairns, Queensland, which comprises the Reef Casino and the 5-star 128-suite Sofitel Reef Casino.

Amarin Plaza reports THB315.51 million net profit in 2003 Return to Headlines
24 February 2004 – Amarin Plaza reported a net profit of THB315.51million for 2003 versus THB112.7 million for 2002. Furthermore, the board approved a change in share par value from THB6 to THB1 and a dividend of THB0.65 per share for 2003, to be paid on May 20.

Green Circle Properties and Resources to develop beach resort in Philippines Return to Headlines
24 February 2004 – Green Circle Properties and Resources Inc, a property developer firm, is set to launch the construction of a beach resort in Aurora province in the Philippines. The resort will be part of a mix-used project, namely Pacific Coast Cities. The project will include a master-planned industrial, educational and resort city community to be built on an 80,000 hectare property in the Quezon and Aurora provinces.

Hong Kong Tourism Board expects visitor arrivals up 31.8% in 2004 Return to Headlines
24 February 2004 – According to the Hong Kong Tourism Board, visitor arrivals to Hong Kong are expected to reach 20.5 million in 2004, an increase of 31.8% compared to 2003. Mainland Chinese will remain the key feeder market to Hong Kong. Furthermore, visitor arrivals reached 1.75 million in January 2004, an increase of 13.1% compared to the same period in 2003.

Landmark Bangkok completes room renovations Return to Headlines
24 February 2004 – The Landmark Bangkok has launched 44 newly-renovated rooms on two new floors, namely the Lifestyle floors. The hotel is also planning to carry out further renovations later this year.

Le Meridien H&R to manage second hotel in Shanghai Return to Headlines
25 February 2004 – Le Méridien Hotels & Resorts signed an agreement with Shanghai Shimao Group (SSG) to manage a hotel in Shanghai, China. Le Méridien She Shan, located in National Tourist Resort of She Shan, is scheduled to open in the third quarter of 2005. The hotel will comprise 325 apartments and suites as well as a convention hall which can accommodate up to 2,400 people. Le Royal Méridien Shanghai, another property owned by SSG, is currently under construction and is expected to open in 2005 as well.

More four- & five-star hotels to be developed in Bangladesh Return to Headlines
25 February 2004 – According to the BBS news agency, the Bangladeshi Government has approved the construction of four-star and five-star hotels in an attempt to attract more foreign tourists. The hotels will be built in Chittagong, which is close to one of the country's other main tourist attractions, the seaside resort Cox's Bazar. Furthermore, the hotels will be constructed by private developers on land donated by the government. The number of hotels due to be built is not yet known.

Shangri-La Hotel Thailand reports THB234.03 net profit in 2003 Return to Headlines
25 February 2004 – Shangri-La Hotel Thailand reported a net profit of THB234.03 million for 2003, versus THB429.77million for 2002. Its board approved a dividend of THB1 per share for 2003, to be paid on May 18.

Marriott International to add 10 hotels in Asia by 2006 Return to Headlines
26 February 2004 – Marriott International announced the upcoming opening of 10 new hotels in the Asia by 2006. In Malaysia, Marriott is set to open two new hotels, the 291-room Kota Kinabalu Marriott and the 225-room Miri Marriott Resort & Spa, both due to open later this year. Also in 2004, the group is set to open the 245-room Ramada Hotel Seoul in South Korea, the 308-room Hyderabad Marriott in India as well as three new properties in China: the 453-room Sanya Marriott Resort, the 105-room Ramada Wuyishan and the 284-room Renaissance Tianjin TEDA. Other properties to open in China include the 289-room Renaissance Wuhan and the 380-room Renaissance Suzhou due to soft open in 2005 and 2006 respectively. In Taiwan, Marriott will manage its first hotel in 2006, the 417-room Marriott Taipei.

Amari Palm Reef Resort completes renovations Return to Headlines
26 February 2004 – The Amari Palm Reef Resort in Koh Samui, Thailand has completed its renovation project. The resort has added an Italian restaurant, spa facility and 86 deluxe rooms additional to its inventory.

Royal Garden Resort reports THB400.57 million net profit Return to Headlines
26 February 2004 – Royal Garden Resort reported a net profit of THB400.57 million for 2003 versus THB345.53million for 2002.

New property laws in Bangkok, Thailand Return to Headlines
26 February 2004 – New laws restricting the floor-area and open-space ratios in Bangkok central business district are due to be implemented by July 2004. As a consequence, the maximum constructible Gross Floor Areas (GFA) will decline. The areas of Pinklao and Rama III road are anticipated to be the most impacted by the new regulations.

Shangri-La to launch hotel in Guangzhou, China Return to Headlines
27 February 2004 – Shangri-La Hotels and Resorts is set to launch a hotel in Guangzhou, in China’s Guangdong province in early 2007. The Shangri-La Pazhou is situated in the Hai Zhu District, adjacent to the new Guangzhou International Convention and Exhibition Centre. The hotel will comprise 750 rooms with a minimum room size of 44 square metres. Furthermore, the hotel will have 6 food & beverage outlets and a total space of 3,600 square metres of meeting and banquet facilities.

Hongkong and Shanghai Hotels reports HK$618 million operating profit in 2003 Return to Headlines
27 February 2004 – The Hongkong and Shanghai Hotels, the owning company of Peninsula Hotels, achieved a group operating profit of HK$618 million in 2003 in line with 2002. Furthermore, profit attributable to shareholders for 2003 amounted to HK$351 million as compared to HK$293 million in 2002.

Central Plaza’s net profit up 25% in 2003 Return to Headlines
27 February 2004 – Thailand-based Central Plaza Hotel reported a net profit of THB279 million in 2003, an increase of 25% compared to THB223 million in the previous corresponding year. Furthermore, earning per share reached THB3.10 in 2003 versus THB2.49 in 2002.

Absolute Share Price Performance, as at 27 February 2004