Featured in this Asia Pacific Hospitality Newsletter - Week Ending 7 April 2006
Deal of The Year - 2nd Hotel Investment Conference - South Asia (HICSA 2006)
Lend Lease Buys Panthers Holiday Inn in New South Wales, Australia
Novotel Citygate Open For Business
Suvarnabhumi Airport Opening Faces More Delays
10 New Ibis Properties Planned For Thailand
Construction of Swiss-Belhotel Banda Aceh Expected Soon
Westin Hotels And Resorts Continues Expansion in India With Signing of Westins in Bangalore And Sohna
Countdown to China Hotel Investment Summit 2006 - 14 Days
Absolute Share Price Performance, as at 7 April 2006


Deal of The Year - 2nd Hotel Investment Conference - South Asia (HICSA 2006) Return to Headlines

HICSA 2006 saw exceptional participation from international operators, real estate developers, various global funds and other industry specialists. Over 350 delegates converged to witness the enhanced investment and development opportunities present in South Asia.

From this year HVS International has instituted the 'Deal of the Year' award to recognize various new hotel developments and acquisitions by South Asian operators and other international operators in South Asia. Indian Hotels Company Ltd (IHCL), which owns and operates Taj Hotels Resorts and Palaces, won the first deal of the year award for its acquisition of W hotel at Woolloomooloo, Sydney. Mr. Raymond Bickson, Managing Director, IHCL, accepted the all silver citation and the certificate on behalf of Taj. The award was presented by Mr. Stephen Rushmore, Founder and President, HVS International. This award will now become an annual feature at the South Asia conference.


Lend Lease Buys Panthers Holiday Inn in New South Wales, Australia Return to Headlines

Lend Lease has bought the Holiday Inn Penrith Panthers for US$21.4 million. The sale of the 216 room hotel is the first part of the larger rationalisation of the Penrith Panthers Property Portfolio estimated at US$218 million. The hotel was acquired by Lend Lease to constitute a wholesale fund expected to be launched in June. Colliers International's Associate Director for Hotels said it was the largest hotel deal in Sydney this year and is encouraged by the increasing interest in the hotel industry after significant growth in 2005. Abacus Property Group, which is setting up a hotel fund, also bid for the hotel, while Travelodge joint venture also looked at adding the property to its network.


Novotel Citygate Open For Business Return to Headlines

The 440-room Novotel Citygate featuring four restaurants and a bar, four executive floors, a multi-purpose 400-person meeting room, a fully equipped 'Biz Center and wireless internet throughout the hotel opened at the beginning of April. The hotel is situated on Lantau Island, a five-minute drive away from Hong Kong International Airport and near tourist attractions such as Hong Kong Disneyland, the Ngong Ping 360 Skyrail (opening in June 2006), and the AsiaWorld-Expo.


Suvarnabhumi Airport Opening Faces More Delays Return to Headlines

Suvarnabhumi Airport is unlikely to be ready for commercial operations in June. The airport was scheduled to open in September last year, but was postponed to June. Thailand's deputy transport minister said several parts of the terminal were still under construction and it would take another six to seven months to complete. The delays also hinder a comprehensive safety test to be carried out by the International Civil Aviation Organisation. The recently appointed President of Airport of Thailand (AOT) said that the airport should open for commercial services as soon as possible to ease the congestions at Don Muang Airport, which currently operates at 30 per cent above capacity.


10 New Ibis Properties Planned For Thailand Return to Headlines
Accor and Thailand's Erawan Group PLC have signed a memorandum of understanding to develop a network of up to 10 Ibis economy hotels in six major destinations in Thailand including Bangkok, Pattaya, Phuket, Koh Samui, Chiang Mai and Krabi. The move is intended to tap a forecasted surge in budget and business travellers to Thailand, particularly from China and India. Six Ibis hotels are scheduled to open by 2008 and further four properties by 2010. Each hotel will have around 200-250 rooms and will cost between US$7.8 to US$10.4 million.

Construction of Swiss-Belhotel Banda Aceh Expected Soon Return to Headlines
Swiss-Belhotel International Indonesia is planning to start the development of the hotel Swiss-Belhotel Banda Aceh before Hari Raya Idul Fitri in October 2006. The four-star 161-room hotel will be the first international chain hotel in the Nangroe Aceh Darussalam (NAD) province built in support of the post-Tsunami re-contrusction development plans in the area. Covering an area of 7,300 square metres in the city centre, the property will include a ballroom with hosting capacity of up to 500 people, a restaurant, a lobby lounge and a business centre.

Westin Hotels And Resorts Continues Expansion in India With Signing of Westins in Bangalore And Sohna Return to Headlines
Starwood Hotels & Resorts Worldwide, Inc continues its expansion momentum in India and in Asia Pacific by announcing agreements with Vatika Hospitality Private Limited, a subsidiary company of Vatika Group, to manage two new Westin hotels in India - the Westin Bangalore and the Westin Sohna Resort. Scheduled to open in 2009, the Westin Bangalore will feature 300 rooms and five dining outlets. The Westin Sohna Resort, located 45 minutes from Gurgaon in New Delhi, is scheduled to open at the end of December 2006, featuring 100 rooms comprising 63 guestrooms, 36 one and two bedroom villas, a presidential villa and three dining outlets. Starwood is currently strong of 21 hotels and resorts in operation and under development in India under its Westin, Sheraton, and Le Meridién brands.

Countdown to China Hotel Investment Summit 2006 - 14 Days Return to Headlines

China Hotel Investment Summit opens doors to both gateway and secondary cities of one of the fastest growing economies in the 21st century to investors, developers, owners, hotel and serviced apartment operators, governments, financial institutions and other industry specialists who have a stake in the country.

Co-hosted by the largest global hospitality consulting firm - HVS International, together with the leading institution for hospitality education in China - Beijing International Studies University, CHIS 2006 promises a whole new experience for hotel investment in China. We will meet the CHIS 2006 'China Hotelier of the Year' as well as the recipient of the 'Hospitality Excellence Award'. More details are available at our summit portal at http://www.chisummit.com. For more information, kindly email: chis@chisummit.com.

CHIS 2006 'Winning Strategies For Hotel Investment in China' (CHIS 2006)
Date: 26 - 28 April 2006
Venue: Grand Hyatt Shanghai


Absolute Share Price Performance, as at 7 April 2006
Return to Headlines