Featured in this Asia Pacific Hospitality Newsletter - Week Ending 6 May 2005
Singapore Court Clears the Path for P.T. Bintan Lagoon Resort Sale
China's First Annual China Hotel Investment Summit (CHIS) 2005
Shangri-La Opens First Traders Hotel in India
Accor buys Margaret River Time-share Property
Two Integrated Casino Resorts in Singapore
Raffles International Secures Management Contract for Historic Beijing Hotel
Absolute Share Price Performance, as at May 6 2005

Singapore Court Clears the Path for P.T. Bintan Lagoon Resort Sale Return to Headlines
The High Court of Singapore has cleared the path for the Receiver and Manager of P.T. Bintan Lagoon Resort to proceed with the sale. Bintan Island is approximately 42 km from Asia's gateway city of Singapore. The resort provides 416 rooms, 2 signature 18-hole golf courses, 6 resort villas, recreational facilities and 11 food & beverage outlets. It spans over 306 hectares (3.06 million sq m) including some 110 hectares of undeveloped land for future development. With the clearance from the High Court, this investment offering is ripe for the picking. It provides an excellent opportunity to acquire a world-class lifestyle resort with significant upside potential. Along with the announcement by the Singapore Government to build two integrated casino resorts, the development of resorts in the region is thriving. Expressions of Interest are to be submitted to the office of DTZ Debenham and HVS International Singapore by 16 May 2005.

China's First Annual China Hotel Investment Summit (CHIS) 2005 Return to Headlines

The inaugural China Hotel Investment Summit (CHIS) 2005 was held at the Westin Shanghai between 27 and 29 April 2005. With more than 280 delegates from over 15 countries, which included Chinese owners, developers, investors and international hotel operators, the Summit was able to provide a conducive meeting ground for industry colleagues to share ideas and the latest market trends. The Summit also took the opportunity to celebrate HVS International's 25 Anniversary with a special dinner at the Grand Hyatt Shanghai. As the host of the event, HVS International would like to express our gratitude and thanks to all delegates, supporters, patrons and sponsors for making CHIS a successful Summit and we look forward to seeing you again in the next CHIS in April 2006.

Shangri-La Opens First Traders Hotel in India Return to Headlines

Shangri-La Hotels and Resorts opened its first hotel in India, last week, The Traders Hotel, Chennai. The group is also developing more properties in India, including Shangri-La Hotel, New Delhi which will open mid 2005, and three new properties in Bangalore which will open between August 2007 to December 2008. The Traders Hotel, Chennai is situated in the heart of the city, close to the shopping hub. All 162 guestrooms, with a minimum size of 30 square metres, have data ports and broadband Internet connectivity. Amenities and services include 24-hour room service, same day laundry and valet, and satellite TV. Dining and entertainment facilities include Seasons Café, Indiana, a contemporary Indian restaurant; Zodiac, the hotel bar; and a rooftop restaurant which will open in the second phase. Meeting and banquet facilities feature a 516-square-metre grand ballroom as well as other banquet halls with a total space of 450 square metres.

Accor buys Margaret River Time-share Property Return to Headlines

Accor has expanded its presence in the time-share apartment market in Australia with the acquisition of Basildene Manor in Western Australia's Margaret River region. Accor's Première Vacation Club (APVC) bought the National Trust and Heritage Council-classified building for $4.5 million. The company will spend the same amount again on extensions to the property. APVC is a joint venture between Accor Asia Pacific and property developer Becton Corporation. The purchase of Basildene Manor was part of a major expansion program that has seen APVC invest in tourism accommodation in Palm Cove, Sunshine Coast, Gold Coast, Coffs Harbour, Sydney, Snowy Mountains and New Zealand. Future development plans involve the Hunter Valley, Swan Valley, South Australia, Fiji, and the north island of New Zealand. APVC reported that it planned to launch Asian operations during 2006 and expected to acquire or develop properties in such locations as Bali, Malaysia and Thailand during the next few years. Basildene Manor has 17 suites as well as a main hall, lobby, cellar lounge, terraces, reading room, conservatory, pool, sun deck, tennis court, and a lakeside pergola.

Two Integrated Casino Resorts in Singapore Return to Headlines

After almost six months of public debate and consideration by the government, the Singapore government has finally announced its decision to build two integrated casino resorts in the island state by 2009 and 2010. The two sites for the proposed developments are located on Sentosa Island, Singapore's main resort island and the Marina Bayfront. The Sentosa site is a 35.6 hectare site which will yield a gross floor area of approximately 250,000 sqm. It will target the leisure segment and will include a theme park, restaurants, retail outlets and resort hotels. The 13.5 hectare Marina Bayfront parcel, which is beside the new Central Business District, will include a convention and exhibition centre, boutique outlets and hotels. This development will target the MICE market. The total investment for these two projects is estimated at US$1.8 to 2.4 billion and will add roughly 2,500 to 3,000 rooms into the market when they both open by 2009 to 2010.

Raffles International Secures Management Contract for Historic Beijing Hotel Return to Headlines
Raffles International Limited has signed an agreement with Beijing Hotel, a hotel under the Beijing Tourism Group (BTG) to rebrand and manage two of the four blocks of the Beijing Hotel under Raffles International's luxury Raffles brand. After a period of renovations and refurbishment, it will be re-launched as the Raffles Beijing Hotel in 2006. The Raffles Beijing Hotel will have 179 rooms, four food and beverage outlets, meeting facilities, a brand new ballroom and a fitness centre with an indoor swimming pool. This contract marks the very first entry of Raffles International's luxury Raffles brand into China and is our ninth management contract in the past 24 months. With the Raffles Beijing Hotel, the growing portfolio of Raffles International will comprise 40 hotels and resorts in 20 countries, in 34 destinations. China is a strategic market for Raffles International. Its membership in the World Trade Organisation and the selection of Beijing as the venue for the 2008 Olympics augurs well for China's economic development and the hotel market.

Absolute Share Price Performance, as at May 6 2005
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