| Featured in this Asia Pacific Hospitality Newsletter - Week Ending 13 April 2007 |
| Singapore's UOL Buys Pan Pacific Hotel Group | Return to Headlines |
| Singapore based United Overseas Land (UOL) has recently acquired the Pan Pacific Hotel Group comprising 12 hotels spread over major cities in Asia and the United States. This expands its portfolio of hotels to a total of 26, operated under the brands of Parkroyal, Negara, Sheraton, Sofitel, Crowne Plaza and Pan Pacific. UOL's group president and CEO, Mr Gwee Lian Kheng noted that the move would strengthen the group's marketing platform and ability to penetrate the mid and high-end business and leisure markets. | |
| Morgan Stanley Buys 13 hotels From ANA | Return to Headlines |
| In bid to concentrate on its core airline business, Japan's second largest airline carrier, All Nippon Airways (ANA) has divested 13 Japanese hotels and two property management units to US investment bank, Morgan Stanley for US$2.37 billion. The deal, which is Japan's largest-ever real estate transaction, is expected to complete in June 2007 and will add on to the investment bank's current interest in 14 Japanese hotels. The ANA hotels are expected to be operated by a joint venture launched by ANA and InterContinental Hotels Group PLC. | |
| Japan Pushes Ahead With Airport Expansion Programme For Tokyo | Return to Headlines |
| Japan's government and airport authorities are currently taking steps to expand air capacities at Tokyo's Narita and Haneda airports. With both airports currently operating at full capacity, international flights which are unable to land in Tokyo would have to fly to Nagoya or Osaka Kansai airports. This may hinder Japan's aims to increase international visitors from 7.3 million in 2006 to 10 million by 2010. Expected to be ready by 2009, Narita airport's upgraded second runway will receive international flights and increase the airport's passenger capacity to 34.8 million. In Haneda Airport, the construction of a fourth runway, to be completed in 2009, will increase flight capacity by 40% to 407,000 flights. Haneda is forecasted to handle 73.2 million passengers by 2012. | |
| Fairmont Hotels & Resorts and Jin Jiang International Form Joint Venture To Operate Shanghai's Peace Hotel | Return to Headlines |
| Jin Jiang International Group and Fairmont Hotels & Resorts announced in April 2007 that they have formed a joint venture company, which will renovate and operate the Peace Hotel in Shanghai. The hotel is scheduled to close during the refurbishment period and to reopen in 2010. Situated on the Bund, the 12-story Peace Hotel enjoys a downtown location, facing the Pudong area over the Huangpu River. First opened in 1929 as the Cathay Hotel, the hotel has hosted distinguished guests from all over the world, including politicians, artists and celebrities. The Peace Hotel is Fairmont's second announced project in the region, following a recent deal for a hotel development project on Macau's Cotai Strip. | |
| TWO DAYS To CHIS | Return to Headlines |
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Date: 18-20 April 2007
The CHIS gathers the finest minds of the hospitality industry in three exciting days of networking opportunities. Join us and meet up to 500 regional and international hotel investors, key operators, leaders, owners and developers. Expect dynamic discussions on 'Investment in China's Hospitality Real Estate' with high-level personalities:
*Speakers, agenda and other conference events are subject to change without notice REGISTER NOW at: www.chisummit.com or CALL: +86 21 5881 7133 About CHIS |
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| Absolute Share Price Performance, as at 13 April 2007 |
