Featured in this Asia Pacific Hospitality Newsletter - Week Ending 31 March 2006
Countdown to China Hotel Investment Summit 2006 – 22 Days
2nd Hotel Investment Conference - South Asia (HICSA 2006)
The Westin Beijing in Chaoyang District Will Be The Second Westin in Beijing
Seibu Group to Spend US$1.7 Billion on The Makeover of Prince Hotels
Shangri-La to Open Traders Hotel in Kuala Lumpur
Central Hotels & Resorts Announces The Takeover of Islandia Phuket
New Harbour Front Park For Sydney's CBD
New Tower at Sydney's Star City Hotel And Casino Complex
Absolute Share Price Performance, as at 31 March 2006


Countdown to China Hotel Investment Summit 2006 – 22 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


2nd Hotel Investment Conference - South Asia (HICSA 2006) Return to Headlines

Hospitality sector in South Asia has shown robust performance in the past two years resulting in huge growth in the form of enhanced investment and development opportunities. Addressing the needs arising out of high interest levels in South Asia, HICSA 2006 aims to bring all the stakeholders of the hospitality industry together.

More details are available at our conference portal at www.hvs.com/HICSA/. For more information, kindly email: hicsa@hvs.com.

Hotel Investment Conference - South Asia (HICSA 2006)
Date: 5 - 6 April 2006
Venue: Taj Lands End Mumbai


The Westin Beijing in Chaoyang District Will Be The Second Westin in Beijing Return to Headlines

Starwood Hotels & Resorts and Beijing Modern Asia – Pacific Real Estate announced the signing of an agreement for Starwood to manage a 558-room Westin Hotel in Chaoyang District. The Westin Beijing at Chaoyang will be part of a mix-use complex comprising a hotel, office and retail space. It will be located on Liangma He near the diplomatic district, Sanlitun Street and the new CBD area. In addition to guestrooms, the Westin Beijing at Chaoyang will feature approximately 16,400 square feet of meeting space, four food and beverage outlets, a health club and a spa. It will be the sixth Westin hotel in mainland China and the second in Beijing.


Seibu Group to Spend US$1.7 Billion on The Makeover of Prince Hotels Return to Headlines

Seibu Holdings Inc., holder of the Seibu Group, will spend a total of US$1.7 billion in fiscal years 2006 and 2007 to renovate the Prince Hotels chain. The investment program will include US$0.25 billion to refurbish the Hakone Prince Hotel in Kanagawa Prefecture and US$340 million to build spa facilities and improve the cottages at the Karuizawa Prince Hotel in Nagano Prefecture. The holding company will improve its earnings structure by terminating unprofitable operations in a bid to get listed again within three to four years. The group was delisted from the Tokyo Stock Exchange in late 2004 due to a financial scandal.


Shangri-La to Open Traders Hotel in Kuala Lumpur Return to Headlines

The Shangri-La Group is expected to open its flagship business Traders Kuala Lumpur in July 2006. The 34-storey hotel, which is linked t the Kuala Lumpur Convention Centre, is owned by Kuala Lumpur Convention Centre Sdn Bhd, a wholly-owned subsidiary of KLCC (Holdings) Sdn Bhd. The hotel is The hotel owner has signed a 15-year management contract with Shangri-La International Hotel Management Ltd Hong Kong. The hotel will also have a health club, a gym and a one-and-a-half storey space allocated for its business centre.


Central Hotels & Resorts Announces The Takeover of Islandia Phuket Return to Headlines
Central Hotels & Resorts, together with an investor, has set a joint venture company - Karon Phuket Hotel Co., Ltd with 50:50 ownership ratio. On the 1 April 2006, the company took over Phuket Islandia Hotel in Karon Beach. They paid US$27 million to purchase the hotel and will invest US$3.9 million to renovate and rename it to "Central Karon Beach Resort, Phuket." Central Hotels & Resorts plans to own 22 hotels & resorts by 2010.

New Harbour Front Park For Sydney's CBD Return to Headlines
The winning designs of the international competition for the new harbour-front park were unveiled at the beginning of April. The project features a new harbour park covering more than 11 hectares of prime waterfront land in the CBD, a waterfront promenade completing the link between Woolloomooloo and the Anzac Bridge and building footprints on approximately 30% of the site. The redevelopment will also include enhanced port and passenger terminal facilities to accommodate growth in international passenger shipping.

New Tower at Sydney's Star City Hotel And Casino Complex Return to Headlines
Tabcorp Holdings is planning to add a new hotel tower and expand parking facilities at Sydney's Star City Hotel and Casino complex. The investment will offset the higher taxes it may face in coming years as its Sydney casino licence exclusivity expires in 2007. Analysts are saying that Tabcorp will be hit with higher gaming tax rates in return for extended exclusivity. The five-star Star City complex, now featuring 350 rooms and 140 apartments in two separate blocks, could start the construction of the additional tower by 2008. It would be among the first new hotel buildings in Sydney for several years.

Absolute Share Price Performance, as at 31 March 2006
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