Featured in this Asia Pacific Hospitality Newsletter - Week Ending 09 January 2004
Raffles takes over management of Nai Lert Park Hotel Bangkok
Prime Hotel Beijing completes renovation
Visitor arrivals to Singapore up 7.9% in November
Radisson New Delhi to complete major renovations
Shangri-La Hotel Zhongshan in Guangdong opens
Best Western adds 48 associated hotels in 2003
Furama H&R ends management in VinPearl Resort & Spa, Vietnam
China plans to develop Chongming Island near Shanghai
Tourism development plan at Cuo Lo Beach in Vietnam
Shanghai Xietong Group opens new hotel in Shanghai
Accor to manage a hotel in Chengdu, China
Thailand expects 30 million visitors by 2010
CP Plaza Co. to renovate shopping and hotel complex in Bangkok
Asia Development Bank to assist tourism development in South Asia
Strong growth in hotel supply in Tokyo
Hong Kong’s new exhibition and event centres
Visitor arrivals to Macao exceeds 11.9 million in 2003
Beijing expects 13 million travellers during Chinese festive season


Raffles takes over management of Nai Lert Park Hotel Bangkok Return to Headlines
05 January 2003 – Raffles International Hotels & Resorts officially took over the management of the Nai Lert Park Hotel in Bangkok. Owned by Nai Lert Park Hotel Corporation Ltd, the 338-room hotel was previously managed by Hilton International.

Prime Hotel Beijing completes renovation Return to Headlines
05 January 2003 – The Prime Hotel Beijing has recently completed a US$6 million renovation. The project includes all its guestrooms and public areas as well as the addition of a new lobby bar, western restaurant and club floor.

Visitor arrivals to Singapore up 7.9% in November Return to Headlines
05 January 2003 – According to the Singapore Tourism Board, visitor arrivals to the city reached 635,213 in November 2003, an increase of 7.9% compared to the same period last year. The main feeder markets include Indonesia, China and Malaysia, accounting for 44% of total visitor arrivals.

Radisson New Delhi to complete major renovations Return to Headlines
05 January 2003 – Radisson New Delhi in India has plans for renovations project which will include guestrooms, public area, restaurants and an addition of an entertainment area. The project is expected to cost Rs15 crore and to be completed within three years.

Shangri-La Hotel Zhongshan in Guangdong opens Return to Headlines
05 January 2003 – Shangri-La Hotels & Resorts announced the opening of its second property in the Guangdong Province in China. Positioned in the five-star hotel segment, the Shangri-La Hotel Zhongshan comprises 463 rooms as well as meeting and recreational facilities.

Best Western adds 48 associated hotels in 2003 Return to Headlines
05 January 2003 – Best Western Australia announced it added 12 associated properties to its portfolio in December 2003. These additions bring the total number of new locations added in 2003 to 48. At present, Best Western offers a total of 283 hotels, motels, apartments and resorts across Australia. Associated hotels benefit from Best Western’s brand, worldwide reservations system, advertising, sales, marketing and operational support services.

Furama H&R ends management in VinPearl Resort & Spa, Vietnam Return to Headlines
06 January 2003 – Hon Tre Tourist & Trade Company which owns the new luxury VinPearl Resort & Spa, Nha Trang and Hong Kong-based Furama Hotels & Resorts International have announced that following the successful opening of the VinPearl Resort in late December 2003, Furama Hotels & Resorts International will end its involvement with the resort.

China plans to develop Chongming Island near Shanghai Return to Headlines
06 January 2003 – The Chinese government has plans to develop Chongming Island, in the vicinity of Shanghai, into an eco-tourist attraction. The project will include a bird-park, forest park, theme parks & stadium, residence & pollution-free industries and an international exhibition & convention area. Furthermore, a 25.5-kilometres Shanghai-Chongming expressway will be built. With these developments, the island’s gross domestic product per capita is expected to reach US$20,000 by 2020.

Tourism development plan at Cuo Lo Beach in Vietnam Return to Headlines
06 January 2003 – Vietnam’s Hong Thai Construstion Consultancy Company and the Australian Safekeeping Investment Trust will jointly develop a tourism project at Cua Lo beach in Nghe An province, Vietnam. The 36/64 joint-venture project will comprise hotels, holiday villas, serviced apartments as well as sport & recreation centres. The complex is estimated to cost US$50 million and will be managed by Swiss-Belhotel International.

Shanghai Xietong Group opens new hotel in Shanghai Return to Headlines
06 January 2003 – The Shanghai Xietong (Group) Co. launched its fifth flagship chain hotel in Shanghai, China. The 18-floor hotel, located on the Beijing Road E. near the Suzhou Creek, comprises 176 suites of guest rooms with catering and entertainment facilities. The new hotel costs RMB 200 million (US$24 million) to construct.

Accor to manage a hotel in Chengdu, China Return to Headlines
07 January 2003 – Accor signed an agreement with the Wanda Group, a real estate developer in China, to manage a hotel in Chengdu, China. The 262-room Sofitel Wanda officially opened in December 2003 and cost RMB400 million (US$48 million) to construct.

Thailand expects 30 million visitors by 2010 Return to Headlines
07 January 2003 – The Tourism Authority of Thailand expects tourism arrivals to increase to 30 million visitors by 2010, boosted by an upsurge in arrivals from China. In 2003, 9.8 million tourists visited the kingdom compared to 10.8 million in 2002.

CP Plaza Co. to renovate shopping and hotel complex in Bangkok Return to Headlines
07 January 2003 – Thailand’s CP Plaza Co Ltd has plans to renovate its Fortune Town shopping and hotel complex on Ratchadaphisek road in Bangkok. The THB100-million renovation is expected to be completed in the third quarter of 2004.

Asia Development Bank to assist tourism development in South Asia Return to Headlines
07 January 2003 – The Asian Development Bank has granted a US$450,000 technical assistance package to develop a tourism plan for the four countries belonging to the South Asia Sub-regional Economic Cooperation. These countries include Bangladesh, Bhutan, India and Nepal. The development plan will focus on themes such as ecotourism, religious tourism and cultural activities.

Strong growth in hotel supply in Tokyo Return to Headlines
09 January 2003 – Hotel supply in Tokyo is expected to increase significantly over the next few years. Following the opening of the Grand Hyatt Tokyo in Minato Ward in April 2003, the Conrad Hotel located in Minato Ward, the Mandarin Oriental located in Chuo ward, the Peninsula Tokyo located in Chiyoda Ward and the Ritz-Carlton in Roppongi Hills are set to open from 2005 to 2008. Furthermore, the Imperial Hotel is undergoing a 17 billion yen five-year renovation project starting from December 2003.

Hong Kong’s new exhibition and event centres Return to Headlines
09 January 2003 – Asia-World Expo will be the new official name of Hong Kong’s new exhibition and event centres, which is due to open in December 2005. Asia-world Expo will offer approximately 70,000 square metres of rentable space and multi-purpose hall seating for over 13,000 people. This is a joint-venture project between the Airport Authority, the Hong Kong Government, Dragages et Travaux Public, Yu Ming Investments and NEC Group.

Visitor arrivals to Macao exceeds 11.9 million in 2003 Return to Headlines
09 January 2003 – According to the Macao Special Administrative Region Goverment, visitor arrivals to Macao exceeded 11.9 million in 2003, an increase of 3% compared to 2002. The increase was mainly driven by an upsurge in arrivals from mainland China, accounting for 48% of total arrivals, an increase of 36% year-on-year.

Beijing expects 13 million travellers during Chinese festive season Return to Headlines
09 January 2003 – 13 million travellers are expected to visit Beijing during the 40-day annual peak travel season, which started on January 7. According to the municipal transportation committee, the number of passenger movements at the airport are expected to reach 3.13 million, an increase of 4.5% compared to the same period last year.

Absolute Share Price Performance, as at 09 January 2004