Featured in this Asia Pacific Hospitality Newsletter - Week Ending 21 January 2005
Sale of Bintan Lagoon Resort & Golf Courses
THL and Golden Tulip Hospitality Forms Partnership
CapitaLand to Develop Mixed Use Development in Guangzhou
Hotel Properties Limited to Manage Hard Rock Hotel in Malaysia
Accor's Expansion in Fiji
Shangri-La Hotels and Resorts to Open a Resort in The Philippines
Hotel New Otani Singapore Rebranded
Indian Skies Opening to Private Airlines
Absolute Share Price Performance, as at 21 January 2005

Sale of Bintan Lagoon Resort & Golf Courses Return to Headlines

HVS International and DTZ Debenham Tie Leung (SEA) Pvt. Ltd. have been jointly appointed as sole marketing agents by the Receiver and Manager of Bintan Lagoon Resort Ltd. for the sale of its investment in PT Bintan Lagoon Resort which owns the Bintan Lagoon Resort.

Bintan Lagoon Resort is a 5-star tropical resort and golf courses located on Bintan Island approximately 42 km from Asia's gateway city of Singapore. It spans over 306 hectares (3.06 million sq m) including some 110 hectares of undeveloped land for future development. The resort provides 416 rooms, 2 signature 18-hole golf courses, 6 resort villas, recreational facilities and 11 food & beverage outlets. Click here to download brochure in PDF format (Size: 1,409 KB).

This investment offering provides an excellent opportunity to acquire a world-class lifestyle resort with significant upside potential.

For further enquiries, please contact:
David Ling at +65 6293-4415 or via email: dling@hvsinterantional.com.sg
Samuel Lim at +65 6293-4415 or via email: slim@hvs.com.sg

THL and Golden Tulip Hospitality Forms Partnership Return to Headlines

Tourism Hotels & Leisure, formerly Travel Holdings Limited (THL), and Golden Tulip Hospitality B.V. ("Golden Tulip"), based in The Netherlands, have entered into a strategic partnership to become one of the largest operators of hotels in the world, with properties located in five continents. Under the terms of the agreement executed by both companies, THL will acquire a 30% stake in Golden Tulip's share capital through a mix of THL shares and cash which values Golden Tulip at approximately Euro 18.5 million (US$24 million). The share consideration will see Golden Tulip take up a 19.9% equity stake in THL. The strategic partnership between Golden Tulip and THL will comprise 534 hotels, 52,150 hotel rooms, located in 362 cities in 45 countries. Presently, THL comprises portfolios of Pacific International Hotels (21 properties) and Plaza Hotels (30 properties).

CapitaLand to Develop Mixed Use Development in Guangzhou Return to Headlines

According to the Singapore Business Times, CapitaLand Group will develop a 400-unit condo and a 192-unit service apartment block in Tianhe district, Guangzhou. Ascott, the serviced residences arm of CapitaLand, will take over the development of the serviced residences component with a total investment of RMB168 million (US$20.2 million). The investment will be a cash consideration of RMB92 million (US$11.0 million) and a loan of RMB76 million (US$9.2 million). Ascott will also own and manage the serviced apartments when they are completed in 2007 under the Ascott brand. The project's condo component is expected to be launched for sale by year-end and is slated for completion by the first quarter of 2008.

Hotel Properties Limited to Manage Hard Rock Hotel in Malaysia Return to Headlines

Hotel Properties Limited announces the management of Asia's third Hard Rock Hotel, Hard Rock Hotel Port Dickson, located on the coastal city of Port Dickson, in the state of Negeri Sembilan on the west coast of Peninsular Malaysia. Scheduled to open in late 2006, this 300-room beachfront hotel is undergoing a multi-million dollar construction on a four-hectare site overlooking the Straits of Malacca. In addition to rooms, the hotel will also feature a 500-seat ballroom and smaller meeting rooms, a large free form swimming pool, water slides for kids, poolside cabanas, a sand island, a kids' play station, a Kids' Club, a Hard Rock Spa, a gym and tennis court. The other two Hard Rock hotels within the region are located in Bali (Indonesia) and Pattaya (Thailand). Reportedly, both properties have been very successful, attracting both local and international clients.

Accor's Expansion in Fiji Return to Headlines

The Vomo Island Resort in Fiji will be managed by Accor under the Sofitel brand in February 2005 following the completion of a full upgrade and refurbishment of the resort's 29 burés and public facilities. Scope of the renovation include a new poolside bar, new beach burés, upgrades of the pool and restaurants and new furnishings and fittings for all villas. Facilities at the resort include four restaurant venues (including a spectacular cliff-top restaurant) and bars, a large swimming pool, a 9-hole golf course, tennis courts and a massage centre. In addition to the Vomo Island Resort, the group will also take over management of the Dominion Hotel in Nadi (which will be re-branded to a Mercure Hotel after a major refurbishment in 2005) and launch the Sofitel Fiji Resort and Spa on Danerau Island in October 2005. Following this addition, the number of properties managed by the French hospitality giant will be more than 4,000 hotels in 90 countries.

Shangri-La Hotels and Resorts to Open a Resort in The Philippines Return to Headlines

Shangri-La Hotels and Resorts will open a new spa resort in Boracay Island, Philippines in mid 2007. The resort will feature 170 large guestrooms and 50 deluxe villas, five food and beverage outlets, a 600-square-metre ballroom and 400 square metres of function rooms, an outdoor wedding pavilion, a 1,350-square-metre CHI spa, outdoor tennis courts, a free form swimming pool, a health club and a marine centre with diving facilities. Shangri-La's existing properties in Philippines include the Makati Shangri-La, Manila, the Edsa Shangri-La, Manila; the Traders Hotel, Manila; and the Shangri-La's Mactan Island Resort and Spa, Cebu.

Hotel New Otani Singapore Rebranded Return to Headlines

Accor Hotels and Resorts has announced that the former Hotel New Otani Singapore has been rebranded as Novotel Clarke Quay Singapore. A S$12-million (US$7.36 million) refurbishment and upgrade programme to rooms and public areas will be completed by the end of September 2005. The 408-room hotel is located between Raffles Place and Orchard Road and within a five-minute drive from Suntec City Exhibition Centre. The hotel is situated on top of a four-storey shopping centre, with guest accommodation occupying the 8th through the 25th floors of the hotel tower.

Indian Skies Opening to Private Airlines Return to Headlines

The Government of India approved the proposal to allow private airlines to operate to any part of the globe except the Gulf countries. The travel industry of India is upbeat and industry experts are foreseeing the availability of more seats at lower fares. This decision will allow private airlines operating with in India to compete with the two state carriers, Air India and Indian Airlines. Albeit, the good news has come with some riders. The Gulf circuit (read the most lucrative sector) has been kept out of this scheme for a three year period. Secondly, only those carriers which have been in existence for more than five years and have a minimum fleet strength of 20 can aspire to fly on international routes. Jet Airways and Sahara Airlines have been direct beneficiaries of this move. This will translate to India offering more seats to the US and European markets. Few would disagree that as competition intensifies, passengers will receive higher quality of services at better rates.

Absolute Share Price Performance, as at 21 January 2005
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