| South Korea moves forward with proposed theme park at Incheon | Return to Headlines |
| 19 January 2003 – South Korea’s Ministry of Finance and Economy announced Incheon is moving to attract global theme park operators to build recreational areas in its free economic zone. According to the ministry, theme park operators such as Universal and MGM studios, Walt Disney Co. and Lego Land were being considered as prospective investors. The government hopes to lure large-scale foreign investment that can enhance employment and living conditions as well as bolster economic production in the Incheon area. The building of the free economic zone is planned to be completed by 2008. | |
| Vietnam Saigon Hotel to pay VND300 dividend per share | Return to Headlines |
| 19 January 2003 – Vietnam's Saigon Hotel Co. reported that it would pay a dividend of VND300 (US$1.9 cent) per share, or 3% of its share's face value in February. However, the company did not disclose which period of its financial year the dividend payment was for. Last August, Saigon Hotel also paid a VND300 dividend per share for the first half of 2003. | |
| Meritus H&R and Thistle Hotels form alliance | Return to Headlines |
| 19 January 2003 – Meritus Hotels & Resorts and the UK’s Thistle Hotels have formed an alliance, which will enable both hotel groups to undertake joint marketing initiatives, including promoting all the hotels through joint sales calls and tradeshow activities in their respective markets. Thistle has 55 hotels in England, Scotland and Wales whilst Meritus has 11 hotels in Singapore, China, Malaysia and Thailand. | |
| Best Western adds one in Australia | Return to Headlines |
| 19 January 2003 – Best Western has added a new property to its portfolio in Australia. The Best Western Matthew Flinders Motor Inn is located in Coonabarabran, New South Wales. The hotel comprises 38 rooms, a pool and a restaurant. | |
| Opening of the JIA Boutique Hotel Apartment in Hong Kong | Return to Headlines |
| 19 January 2003 – The JIA Boutique Hotel Apartment is set to open in March 2004 in Hong Kong. Located in Causeway Bay, the Philippe Starck-designed hotel will comprise 57 rooms, including 30 studios, 25 apartments and 2 penthouses. | |
| Centrepoint property sets to double its portfolio | Return to Headlines |
| 20 January 2003 – Fraser Serviced Residences, the subsidiary of Singapore’s Centrepoint property, aims to double the number of serviced residence units to 2000 by year-end. The group will make its first foray into China with the opening of the 232-unit Fraser Place Shekou in Shenzhen. Furthermore, the group is set to manage a property in Sydney 2005. | |
| Gran Melia Pudong Shanghai breaks ground | Return to Headlines |
| 20 January 2003 – The 688-room Gran Melia Pudong, is now under construction on the banks of the Huang Pu River Shanghai. The hotel is expected to open in the second quarter of 2005. Furthermore, Sol Melia Hotels & Resorts also plans to manage hotels in other cities in China including Beijing, Lijiang, Hainan, Guilin, Kunming. | |
| Grande Asset Development to list on the Thailand Stock Exchange | Return to Headlines |
| 20 January 2003 – Thailand’s Grande Asset Development, the owner of the Westin Grande Sukhumvit hotel in Bangkok, is set to list on the Stock Exchange of Thailand this week. The company will float 150 million new shares at THB4.85 per share. Of the shares offered, 72.5 million will go to general investors, 40 million to institutional investors and the remainder to clients and business associates. In addition to the Westin Grande, the company is currently constructing the 380-room Crowne Plaza Sukhumvit Hotel, expected to open in 2005, and developing the Hua Hin Blue Lagoon Resort, including a five-star, 250-room hotel, 108 condominiums and 37 island villas, to be completed in mid-2005. | |
| Sarovar Park Plaza H&R to launch a no frill hotel brand in India | Return to Headlines |
| 20 January 2003 – India’s Sarovar Park Plaza Hotels & Resorts Pvt Ltd (SPPHR) is set to launch a no frill hotel brand in India in the next six months. According to Express Hotelier & Caterer, quoting the managing director of SPPHR, the new brand will consist of two-star hotels located in second- and third-tier cities as well as industrial towns in India. | |
| Como H&R to develop hotels in Bhutan and Bali | Return to Headlines |
| 26 January 2003 – Como Hotels & Resorts, a British company affiliated to Singapore-listed HPL, will invest in two new hotels in the Himalayan kingdom of Bhutan and in Ubud, Bali. Both hotels are due to open by the end of 2004 and will comprise approximately 30 rooms and spa facilities targeting high-end travelers. Como's investment in Bhutan gives it the distinction of being the first foreign investor selected by the Bhutanese King to build a hotel in his tiny country. | |
| Sofitel Wanda Chengdu opens in China | Return to Headlines |
| 26 January 2003 – Accor announced the opening of the Sofitel Wanda Chengdu in China’s Sichuan province. Sofitel Wanda Chengdu has 162 Deluxe rooms, 84 Sofitel Executive rooms and 15 Deluxe suites and a Presidential suite. Other facilities include 432 square-meter of meeting space and can comfortably handle 420 participants theatre style, restaurants and a recreational centre. | |
| Sheraton hotels in Fiji complete renovation | Return to Headlines |
| 26 January 2003 – The Sheraton Royal Denarau Resort and Sheraton Fiji Resort in Fiji have completed an A$5.2-million refurbishment. Refurbished facilities include the Lobby Sunken Lounge and Reception Desk at the Sheraton Royal Denarau Resort as well as the recently opened Pacific Pasta Kitchen. At the Sheraton Fiji Resort, the Ocean Lanai beachfront restaurant has been expanded and renamed Blue Vonu. Improvements of the resorts' guest rooms originally planned for completion at the same time, will commence in the coming months. | |
| Opening of Mana Island Resort in Fiji | Return to Headlines |
| 26 January 2003 – Fiji’s Mana Island Resort has recently opened 30 new beachfront suites. Each of the 30 new Ocean Front Suites measure 100 square meters and includes a mezzanine bedroom and bathroom, plus lounge area and second bathroom downstairs. | |
| Cendant eyes 40 hotels in China by 2008 | Return to Headlines |
| 27 January 2003 – Singapore’s Frontier Group has signed an agreement with the US-based Cendant to jointly open 40 hotels in China under the Days Inn brand over the next five years. Frontier plans to establish Days Inn Hotels in Beijing, Shanghai, Guilin, Dalian, Yantai, Wuhan, Shenzhen and other leading emerging markets. | |
| Accor to manage a property in Shenzhen, China | Return to Headlines |
| 27 January 2003 – Accor signed an agreement to manage the Novotel Bauhinia, Shenzhen in China. The hotel, which is scheduled to open in July 2004, will comprise 200 rooms, three food and beverage outlets as well as meeting and recreational facilities. | |
| Sun Holdings is building a mix-used project in Laos | Return to Headlines |
| 27 January 2003 – Malaysian-owned Sun Holdings Co. is building a US$22-million mix-used project by the Mekong River, in Laos. The project, which is expected to be completed in September, will include a 240-room Don Chanh Palace Hotel, a convention centre and tourist complex. The group signed an agreement with Exim Bank of Malaysia for a US$14 million loan to finance part of the project. | |
| Shangri-La Bangkok completes renovations | Return to Headlines |
| 27 January 2003 – Shangri-La Bangkok, Thailand, has completed a US$23-million renovation. The renovation included guest rooms, public areas, restaurants, interior and the addition of a new restaurant. Moreover, a US$2-million spa facility is due to open in May. | |
| The Oberoi Group adds one in India | Return to Headlines |
| 28 January 2003 – The Oberoi Group announced the opening of its business hotel, the Trident, in Gurgaon, India. The hotel, covers an area of seven acres, comprises 136 rooms, five food and beverage outlets, conference and recreational facilities. | |
| Visitor arrivals to Australia down 2% in 2003 | Return to Headlines |
| 28 January 2003 – According to the Australian Bureau of Statistic, visitor arrivals to Australia decreased from 4.84 million in 2002 to 4.74 million in 2003, a decline of 2% year-on-year. However, statistic showed that visitor arrivals started to recover from September 2003 onwards, increasing 8% in September compared to the previous year. The increase was mainly boosted by the main feeder markets, including New Zealand, the UK, Germany and Korea. | |
| ICH takes over Asiaworld Hotel Taipei | Return to Headlines |
| 28 January 2003 – InterContinental Hotel (ICH) has added one more property to its portfolio in Taiwan. The Asiaworld Taipei has been re-branded under ICH’s Holiday Inn flag. The hotel has undergone a renovation scheme covering lobby, public areas and a conversion of a new club floor as part of re-branding plan. | |
| Hotel projects in Quang Nam province, Vietnam | Return to Headlines |
| 28 January 2003 – The Vietnam Government is transforming the Dien Duong commune in Dien Ban District, central Quang Nam province into a tourism destination. Several tourism projects are being taken place in the area including a US$30-million hotel developed by the US-based Indochina Resort and a US$3.7-million hotel at the Ha My beach developed by the local firm, Kim Vinh Company. | |
| Raffles Holdings’ net profit up 20% in 2003 | Return to Headlines |
| 29 January 2003 – Singapore’s Raffles Holdings reported its net profit increased from S$44.9 million in 2002 to S$54.1 million in 2003, an increase of 20% in 2003. During the same period, the revenue increased by 9% from S$385.3 million to S$420.1 million, partly because of the consolidation of the Swissotel Nankai Osaka. However, Raffles’ overall revenue per available room (RevPar) declined by 3.2% to S$137. | |
| Royal Garden Resorts to increase shares in Marriott Vacation Villa time share to 50% | Return to Headlines |
| 29 January 2003 – The Board of Directors of Royal Garden Resorts PLC has recently passed a resolution to exercise its option to increase its interest from 15% to 50% in the Marriott Vacation Villa time share project in Phuket. The Marriott Vacation Villa is Asia’ s first purpose built time share resort with 144 two bedroom units integrated with the recently opened 265 room JW Marriott Resort & Spa Phuket. Phase one of the projects was completed last year with the second and final phases scheduled to begin development in 2004. In 2003, Marriott Vacation Villa recorded THB422 million of revenue. | |
| Pabhada Asset to develop hotel and serviced residence in Bangkok | Return to Headlines |
| 29 January 2003 – Pabhada Asset Co, a Thailand-based property developer, plans to invest approximately THB2 billion in real-estate projects in Thailand. The company is currently developing a 53-unit residential complex in Bangkok. Furthermore, Pabhada Asset has partnered with a Japanese firm to develop a 100-unit serviced apartment building in the Sukhumvit area and will set a joint venture to develop a 5-star hotel, also in Bangkok. | |
| Singapore Tourism Board expects visitor arrivals to increase by 24% in 2004 | Return to Headlines |
| 29 January 2003 – The Singapore Tourism Board targets visitor arrivals to increase by 24% in 2004 to 7.6 million visitors with China and Indonesia the key feeder markets. In 2003, visitor arrivals reached 6.1 million, a decline of 7.6% compared to 2002. | |
| Central H&R to operate the Central Huong Giang Hotel in Vietnam | Return to Headlines |
| 29 January 2003 – Central Hotels & Resorts recently began to operate the Central Huong Giang Hotel in Vietnam. The hotel is located in the Hue province. Central Hotels & Resorts signed a 10-year contract to run the 135-room four-star hotel and have planed to spend US$4 million to renovate and add new rooms and facilities this year. | |
| Hilton International opens a hotel in Tokyo, Japan | Return to Headlines |
| 30 January 2003 – Hilton International announced the opening of the Hilton Odawara Resort & Spa in Japan. The hotel, located in Hakone, 100 kilometres west of Tokyo, is scheduled to open in February. Positioned as a health retreat, the hotel offers 172 rooms with recreation facilities including a bowling alley, gym, sports arena, 18-hole golf course, tennis courts, four dining outlets and five karaoke rooms. | |
| The Norwest International Hotel re-branded under Crowne Plaza brand | Return to Headlines |
| 30 January 2003 – The Norwest International Hotel in Sydney, Australia, has been re-branded under Crowne Plaza Northwest. The 130-room Crowne Plaza Norwest Sydney is located in the Norwest Business Park Sydney. | |
| Dusit H&R to manage three hotels in Fiji and the Seychelles Islands | Return to Headlines |
| 30 January 2003 – Dusit Hotels & Resorts has recently signed an agreement to manage three new hotels in Fiji and the Seychelles Islands. In Fiji, the Bangkok-based group will manage a 256-room five-star hotel at Korolevu Bay and a 60-villa luxury resort on Nacula Island. Both hotels are scheduled to open in 2005. In Seychelles, Dusit will manage a 10-villa resort on Therese Island, also due to open in 2005. | |
