| Istithmar Hotels Announced Partnership To Build And Operate The W Hotel & Residences, Koh Samui | Return to Headlines |
| Opening in late 2008, the retreat will feature 70 villas, lounge, signature restaurant, pool bar and a signature spa. The development will also include 15 luxury villas available for purchase. Joe Sita, Chief Executive of Istithmar Hotels, said: "W Hotel & Residences fits right into our portfolio of luxury hotel brands in key markets around the world." Since it was launched in April 2006, Istithmar Hotels has developed a portfolio with a total investment value of approximately US$3 billion. This includes significant investments in Kerzner Group, master franchise for easyHotels in the Middle East, ownership of the Knickerbocker Hotel on Times Square, W Hotel Union Square in New York, Mandarin Oriental in New York and Hotel Washington in Washington DC. | |
| The Cruise Market Takes Off In Vietnam | Return to Headlines |
| The city of Danang in central Vietnam is rapidly turning into a major port of call for international cruise ships en route to Halong Bay. According to city officials, Danang will receive over 21,000 cruise-ship passengers and 48 ships in 2006, compared with 13,500 passengers and 26 ships in 2006. Since the start of 2007, most cruise-ship visitors have been from France, the USA, Spain, China and Hong Kong. However Danang, the third most populous city in the country, faces a shortage of four and five-star accommodation to cater to the new cruise-ship visitors. Since November 2006, hotels in the city, and at the nearby Furama Resort, have witnessed a jump in occupancy rates. A number of new hotels scheduled to open later in 2007 will go some way to alleviate the lack of top-tier capacity, say city officials. | |
| Dubai Based Emaar Properties To Build Resort In Lombok Jakarta | Return to Headlines |
| Dubai-based property giant Emaar Properties is expected to build an integrated resort area in An Bay, Kute in Central Lombok. The group plans to invest US$222 million to build a golf course and water-based tourism facilities over a 12-hectare plot of land in that area, said Tourism Destination Director General Sambudjo Parikesit. Reportedly, if the project is implemented, Emaar Properties hopes to attract annually around two million Middle-Eastern tourists to Lombok Island. Emaar has signed a letter of interest to be followed with the signing of a memorandum of understanding with the government by end of April 2007. | |
| Carlson Hotels To Develop The Park Plaza Chengdu Wuhou | Return to Headlines |
| Carlson Hotels has been commissioned to develop The Park Plaza Chengdu Wuhou, in Chengdu, China. Owned by Chengdu Zhixin Industrial Group Co. Ltd and designed by Woodhead International Shanghai, the 240-room hotel comprises a 14-storey tower with a connecting podium that incorporates retail and office space, and is scheduled to open in May 2009. Chengdu is China's fifth most populous city and is also an important emerging economic, transportation and financial centre for foreign and mainland corporations. | |
| IHG Launches Franchising For Holiday Inn Express In China | Return to Headlines |
| Intercontinental Hotels Group (IHG) has launched a hotel franchising program for its Holiday Inn Express brand in China, following the successful opening of six Holiday Inn Express hotels and the signing of about 20 additional management contracts for the brand in China. In line with the group's growth strategy, IHG will focus its brand development on China's main gateway cities with both its management services and now, the franchise program. With 574 new Holiday Inn Express hotels in the global development pipeline, the brand is one of the fastest growing hotel brands in the world. | |
| Pod Hotel, Yotel Coming To Asia | Return to Headlines |
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Developed in the United Kingdom and due to open in May 2007 in London's Gatwick Airport, Yotel consists of pod-like rooms of just 10 square metres but featuring a techno wall with universal port for MP3 players, a workstation, flat screen LCD TV, double beds, luxury bedding and bathroom fittings including rain shower and automated check-in. This new hotel concept aims to offer an alternative to the traditional hotel facilities. The cabin-sized rooms are expected to be developed in central city locations, airports and even underground. International expansion is expected after 2008 and possible Asian cities include Hong Kong, Singapore and Sydney. |
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| Absolute Share Price Performance, as at 20 April 2007 |
