Featured in this Asia Pacific Hospitality Newsletter - Week Ending 11 November 2005
Accor Adds Three Luxury Hotels In China
India's Taj In Race For Woollloomooloo Hotel
Asia Hotel Group Set To Lure Indians And Chinese
Crowne Plaza Residences Karon Beach Phuket Launched
Starwood Hotels To Double Projects In Shanghai
Shangri-La Announces Second U.S. Property: Shangri-La Hotel, Miami To Open In 2008
Absolute Share Price Performance, as at 11 November 2005

Accor Adds Three Luxury Hotels in China Return to Headlines

Accor continues its rapid expansion in China with the signing of management agreements for three hotels, including two new Sofitels and a boutique property. Two hotels will be located in the Shanghai area and one in Guangzhou. Sofitel Guangzhou will be Accor's first Sofitel in one of southern China's main commercial hubs. Located right in the city's central business district, the 470-room, 28-storey hotel is scheduled to open in late 2007. The 318-room Sofitel Sheshan Resort Shanghai, located in Songjiang District (20 minutes from Hongqiao Airport), is also scheduled to open late 2007. Accor also signed a contract for the 52-room Puxi Boutique Hotel Fuxing Park Shanghai (managed by Accor) close to the Yandang Pedestrian Street. This area is near the former French Concession known for its colonial architecture and is also within walking distance of Xintiandi - one of Shanghai's trendiest dining and entertainment areas. The hotel will open in January 2006.

India's Taj in Race for Woollloomooloo Hotel Return to Headlines
The Mumbai-based Taj Hotels, Resorts and Palaces chain has made no secret of its desire to expand globally, and recently the group snared the management of the prestigious The Pierre hotel in New York. Sydney is believed to be next on the hit list, amid rumours Taj is on the shortlist to buy the high-profile W hotel at Woolloomooloo. It would be a first Australian property for Taj. The 104-room hotel is expected to attract a price of at least US$27 million for the Hong Kong-based Harilela family, who bought the boutique, harbour-front hotel for about $23 million in 1999. Interest in the deal has been high, buoyed by the recent run of major hotel deals across the country and the iconic status of the hotel, which has been frequented by guests such as pop star Robbie Williams.

Asia Hotel Group Set to Lure Indians and Chinese Return to Headlines
As hoteliers are anticipating a business slowdown next year, Asia Hotel executives hope to pick up the slack by penetrating new markets, particularly well-heeled, big-spending Indians. Chinese and Indian tourists are the two largest Asian customer groups, but on average Indian guests -- mostly high-income professionals -- spend more than the Chinese. The Asia Hotel group operates three properties: the Asia Hotel Bangkok, the Asia Pattaya Beach Hotel in Pattaya and the Asia Airport Hotel near Don Maung International Airport. The company spent US$2 million renovating the 360-room Pattaya property last year, and is now spending more than US$2.4 million renovating 160 rooms of the Asia Airport Hotel. As air traffic will soon be moved from Bangkok International Airport in Don Muang to the new Suvarnabhumi Airport, the company has changed its target market from travellers seeking accommodation near the airport to international professionals working in nearby industrial estates.

Crowne Plaza Residences Karon Beach Phuket Launched Return to Headlines
To cater for the increasingly discerning and sophisticated investors in the Phuket resort market, the internationally-managed Crowne Plaza Residences Karon Beach Phuket has been launched. With 30 exclusive beachfront apartments, investors benefit from the luxurious facilities and management of the adjoining 5-star Crowne Plaza Karon Beach Phuket, which is part of the InterContinental Hotels Group. Located along Karon beach with its expansive two and a half kilometre white sandy beach, the project is expected to be completed in March 2006.

Starwood Hotels to Double Projects in Shanghai Return to Headlines
Starwood Hotels and Resorts Worldwide wants to double its committed projects to 10 in Shanghai in the next decade. The group believes the Shanghai market can absorb 10 new Starwood-branded hotels in addition to the existing supply. Starwood in Shanghai operates a portfolio of top-end hotels, including a Westin, a St Regis and a Sheraton. Plans include the opening of a Four Points by Sheraton next year and another Sheraton in 2007. The group is also finalising a contract to manage China's first W Hotel, a Sun Hung Kai Properties project in Shanghai's Liujiazui financial district, Pudong. To diversify risks and quicken return on investment, the group plans to launch Aloft, a brand representing a more affordable version of luxury boutique W Hotel.

Shangri-La Announces Second U.S. Property: Shangri-La Hotel, Miami to Open in 2008 Return to Headlines
Shangri-La Hotels and Resorts will operate the 147-room Shangri-La Hotel, Miami, to be developed by the Flagstone Property Group. The Miami property is Shangri-La's second hotel under development in the United States following the announcement of the Shangri-La Hotel, Chicago. The Miami property will open in 2008 and the Chicago one in 2009. Situated on Biscayne Bay, the Shangri-La hotel will be part of the $480 million mixed-use Island Gardens project. In addition to Shangri-La services and amenities, distinctive attributes of the project will include a 50-slip "super-yacht" harbor plus sophisticated shops and restaurants. Shangri-La will also manage 105 Living Shangri-La fractional residences located on the top floors of Shangri-La Tower. The fractional residences will offer spacious two- to four-bedroom accommodation and amenities for owners and will periodically be available to hotel guests. Hong Kong-based Shangri-La Hotels and Resorts currently manages 48 hotels under Shangri-La and Traders brands with a rooms inventory of over 21,000.

Absolute Share Price Performance, as at 11 November 2005
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