Featured in this Asia Pacific Hospitality Newsletter - Week Ending 14 January 2005
In Memory of Reggie Shiu
Raffles International announces Swissotel Grand Shanghai
Weekly Mansion Tokyo Expands in Tokyo and Chiba
Starwood Hotels & Resorts announces two new hotels in China
Singapore targets 17m tourists in a decade

In Memory of Reggie Shiu Return to Headlines
Our deepest condolences to the family of Reggie Shiu. We are deeply saddened by the news of the loss of Mr. Reggie Shiu, his wife and two of his three children during the tsunami that struck Southern Thailand on 26th December 2004. Reggie was the Senior Vice President, Asia of Accor Asia Pacific based in Shanghai where he was responsible for Accor's operations and development in Greater China. Reggie has successfully expanded Accor properties from just a handful of hotels upon appointment to 25 hotels by the end of 2004, with another 13 hotels scheduled for opening in the next two years. A man of great natural charm and positive energy, Reggie is highly respected in the hospitality industry. A commemorative service for Reggie Shiu will be held at Bangkok Convention Centre at Sofitel Central Plaza Bangkok on Friday, 21 January 2005. The family requests no flowers - instead, donations should be made at the event to the 'Accor Zoe Shiu Trust Fund' for Mr Shiu's surviving daughter, Zoe.

Raffles International announces Swissotel Grand Shanghai Return to Headlines
Raffles International Limited has signed an agreement with Jing An City Construction Fitting Development Company (Jing'an Chengjian), to manage a new hotel development in Shanghai slated for opening in 2007. Named Swissôtel Grand Shanghai, the 478-room hotel will be managed under Raffles International's Swissôtel brand. The deal marks Raffles International's first foray into the buoyant Shanghai market and further strengthens its foothold in China. The 25-storey, 478-room Swissôtel Grand Shanghai will be located in the district of Jing'an. The hotel will comprise spa and gym facilities, a swimming pool, four restaurants and bars, Swiss Business Executive Club Floors and other business facilities.

Weekly Mansion Tokyo Expands in Tokyo and Chiba Return to Headlines
Weekly Mansion Tokyo, a leading limited-service extended-stay budget hotel operator in Japan, continues its expansion with the announced opening of two new hotels, the 122 room Weekly Mansion Machida in Tokyo and the 129 room Weekly Mansion Shinurayasu in Chiba. The Weekly Mansion Machida will begin operations on January 17, 2005 followed by the opening of the Weekly Mansion Shinurayasu on February 2, 2005. Weekly Mansion Tokyo, founded in 1999 and based in Tokyo, now manages 56 hotels with 4,600 rooms located in central Tokyo and throughout Japan. Weekly Mansion Tokyo budget hotels feature basic services and accommodations catering to business and leisure travellers seeking extended-stay lodging.

Starwood Hotels & Resorts announces two new hotels in China Return to Headlines
Starwood Hotels & Resorts announced the opening of the first Four Points by Sheraton in Shenzhen, China. Developed and owned by CAFU Investment (Shenzhen) Company, the Four Points by Sheraton Shenzhen is part of Phase I of "Cafu Square", a mixed-use complex consisting of residential apartments and a multi-story retail mall scheduled for completion in 2005. Phase II of Cafu Square, to be completed later this year, will introduce additional guestrooms with dedicated executive floors, a designated executive lounge and personalized check-in service. The Four Points by Sheraton Shenzhen features 278 guestrooms including 21 suites, six dining and entertaining venues, an outdoor pool and a fitness centre. Also in China, the group has signed an agreement with Chongqing Taizheng Company Limited to manage the Sheraton Chongqing Hotel. This newly built 330-room Sheraton Chongqing Hotel is scheduled to open in January 2008. Sheraton Chongqing Hotel is located in the new entertainment and commercial district in Nanbin Road, as part of the "Chongqing Bund" development in Chongqing. The hotel is part of a mixed-use complex that houses the hotel, convention hall, grade "A" office and retail spaces and will be the tallest building in Chongqing when completed. The hotel facilities will include 18,000 square feet of meeting and function space, three dining outlets, health club, spa and an indoor swimming pool.

Singapore targets 17m tourists in a decade Return to Headlines
The Singapore Tourism Board (STB) has unveiled its ten year plan to double visitor arrivals to 17 million by 2015, up from a record breaking year 2004's 8.3 million. Within the same time frame, tourism receipts are expected to fetch S$30 billion, triple the amount from last year's S$9.6 billion. The Singapore Government has earmarked S$2 billion for tourism developments. These developments could include a face-lift for Orchard Road, building new attractions, funding high-profile events and tax breaks and incentive for tourism business. The STB will also aim at focusing on three main areas - business travel and meetings, incentives, conventions and exhibitions (BTMICE) segment, leisure travel and service such as health care tourism and education.

Absolute Share Price Performance, as at 14 January 2005