Featured in this Asia Pacific Hospitality Newsletter - Week Ending 20 October 2006
Six Senses Offers Villas On Remote Thai Island
Istithmar Invests In South Africa
Opening Of The Radisson Plaza Resort Phuket Panwa Beach
Hong Kong Listed Macau Prime To Acquire Stake In Grand Waldo Hotel
Seoul Eyes 12 Million Tourists By 2010
Beijing Welcomes Its First Westin Hotel
Absolute Share Price Performance, as at 20 October 2006


Six Senses Offers Villas On Remote Thai Island Return to Headlines

Soneva Kiri is located in Koh Kood, the fourth-largest island in Thailand. The island is located at the end of the Thai eastern maritime territory bordering Cambodia. The resort comprises 36 villas surrounded by water features and forest. The villas, each with a private pool, measure 560 to 930 square metres and are situated along the beach and on the hillside. The project also includes a hotel comprising of 42 smaller villas between 186 and 233 square metres for holiday makers. The company plans to release for sale the first batch of 20 villas for US$2.7 million to US$4 million each. The company offers buyers a guaranteed annual rental return of 6% for the first five year after purchase for the buyers who agree to stay 45 days a year in the villa.


Istithmar Invests In South Africa Return to Headlines

A group led by Istithmar plans to invest US$886 million in a recently-acquired South Africa-based V&A Waterfront property, according to a senior official ay Nakheel Hotels and Resorts, an affiliate company of Istithmar. Based in Cape Town's upmarket quarter, the waterfront property is one of the top tourist attractions in the country. In September 2006, Istithmar, UK property company London and Regional Properties and local black empowerment partners bought the V&A, announcing that they would bring an element of "pizazz" to the property.


Opening Of The Radisson Plaza Resort Phuket Panwa Beach Return to Headlines

The Radisson Plaza Resort Phuket Panwa Beach, located on the south-eastern tip of Phuket in Thailand, is scheduled to open in the second half of 2008. The four-storey resort will comprise of five accommodation wings with 217 rooms and villas. In keeping with the local environment, the resort will take on a Thai contemporary design with mixed rooflines and structural details to provide a ‘Village’ feel. Located about 45 minutes from the International Airport and 15 minutes from Phuket town, the resort will feature an all-day dining restaurant with open kitchen, a specialty beachside restaurant with extensive ocean and pool views, an open-air lobby lounge, and a poolside bar and grill.


Hong Kong Listed Macau Prime To Acquire Stake In Grand Waldo Hotel Return to Headlines
Macau Prime Properties Holdings Ltd said it is buying a 40 percent stake in More Profit International Ltd for US$40 million from Fast Profit Investments Ltd and Topmore Ltd. More Profit has agreed to acquire a 50 percent stake in Great China, which is the owner of a five-star hotel, the Grand Waldo Hotel in Macau. The company said the deal represents an opportunity for the group to tap Macau's hotel, leisure and entertainment businesses. It noted Great China will enjoy a five-year minimum rental income guarantee of US$25 million per annum, representing an eight percent yield per annum on the hotel's aggregate value, after the acquisition of the hotel.

Seoul Eyes 12 Million Tourists By 2010 Return to Headlines
The Seoul Metropolitan government has shared plans to strengthen the city’s business and tourism infrastructure to achieve the same. Seoul Mayor Oh Se-hoon referred to the 2008 Olympics in Beijing and the 2010 World EXPO in Shanghai, would provide the country great opportunities to expose the city internationally. The increased number of foreign visitors will create 200,000 new jobs, as per the projections shared by city officials. Among initiatives, there are plans to reduce the tax burdens for hotels and other businesses in the lodging sector, which currently charge customers value-added tax (VAT). The Ministry of Culture and Tourism is working to effectively improve the quality of life in Korea, to promote culture and tourism industries in the globalization process, and to make Korea more competitive in international sports.

Beijing Welcomes Its First Westin Hotel Return to Headlines
Situated in the centre of the city with the Forbidden City and Tiananmen Square to the East and Chang An Avenue to the South, The Westin Beijing, Financial Street has easy access to the city’s business, shopping, sightseeing and entertainment districts, and only 40 minutes away from the airport. The Westin Beijing, Financial Street comprises two towers, each rising 26 stories high, one with 486 rooms and suites and the other with 205 residences.

Absolute Share Price Performance, as at 20 October 2006
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