Featured in this Asia Pacific Hospitality Newsletter - Week Ending 01 October 2004
Accor announces two new hotels in Australia
New resort for Sentosa
Ascott Group’s expansion plan in China
Shangri-La Hotels & Resorts to manage fourth hotel in Guangdong Province
Haneda Tokyu Hotel closed down
Le Meridien Kuala Lumpur set to open

Accor announces two new hotels in Australia Return to Headlines
Accor announced two new hotel projects for the cities of Mackay and Townsville in northern Queensland, Australia. In Mackay, Accor and developer Sinadel Pty Ltd plan to build an 80 unit luxury all-suites hotel. The Mercure Grand Suites Mackay will be an A$30 million project with construction set to commence in early 2005 and completion scheduled for mid-2006. The seven storey Mercure Grand Suites, located between Wood and Gregory Streets, will be integrated with the recently refurbished Centrepoint Shopping Centre. In Townsville, Accor will manage a new 108-room Ibis Hotel. The Hotel Ibis Townsville, adjacent to the Transit Centre, is expected to open in November 2005.

New resort for Sentosa Return to Headlines
According to the Business Times, Robertson Quay Hotel is set to invest as much as S$35 million to develop a 125-room hotel in Sentosa, Singapore. Robertson Quay Hotel is controlled by TNT Development, which in turn is owned by Ng Swee Hwa and Law Ngee Hua. The low-rise hotel, which is slated for completion by early 2007, is expected to be positioned in the three-star segment. The new hotel will bring the number of new hotels and resorts in Sentosa to four properties with a total room counts range between 600 and 1,400. The other three hotels are 250-room beach club, resort developed by Pontiac Land and the 125-room Amara Sentosa.

Ascott Group’s expansion plan in China Return to Headlines
The Ascott Group announced its first 167-unit serviced residence in Suzhou, and a 239-unit serviced residence in Shanghai, which will be its first Asian property to carry the Citadines brand. Ascott has secured the management contracts to operate Somerset Chongrui serviced residence in Suzhou Industrial Park, and Citadines Jinqiao in Huangpu, Shanghai’s main business district. Somerset Chongrui in Suzhou Industrial Park will offer studio and one-bedroom suites and open in the first quarter 2006. Citadines Jinqiao will provide studio to two-bedroom suites and open in the fourth quarter next year.

Shangri-La Hotels & Resorts to manage fourth hotel in Guangdong Province Return to Headlines
Shangri-La Hotels and Resorts has signed an agreement with the Dongguan Sanyuan Yinghui Investment and Development Co. Ltd to operate a new deluxe hotel in Dongguan in mid 2007. This will be the group's fourth hotel in China's Guangdong Province. The Shangri-La hotel will be located in the Wanjiang District of Dongguan city. The hotel will comprise 500 guestrooms, four food & beverage outlets and a 1,500-square-metre ballroom.

Haneda Tokyu Hotel closed down Return to Headlines
The Haneda Tokyu Hotel which is located on the premises of Tokyo’s Haneda airport ceased operation on Thursday. The hotel will be demolished because it stands on state-owned land that will become part of a new international terminal to be built by 2009. The hotel will reopen as the Haneda Excel Hotel Tokyu in December in a new terminal currently under construction.

Le Meridien Kuala Lumpur set to open Return to Headlines
Le Meridien Kuala Lumpur is set to open in KL Sentral Station in October. The hotel will be Le Meridien's flagship hotel in Malaysia and will comprise 422 guestrooms, nine functions and three board rooms and three food & beverage outlets.

Absolute Share Price Performance, as at 01 October 2004