|Featured in this Asia Pacific Hospitality Newsletter - Week Ending 27 April 2007|
|JAL To Increase Flight Frequency On China & Vietnam Routes||Return to Headlines|
|Japanese Airlines (JAL) has decided to increase the number of flights it operates on China and Vietnam routes from May 2007 responding to strong business and leisure passenger demand to these high growth markets. JAL will increase flight frequency between Tokyo (Narita) and both Guangzhou and Beijing from May and June 2007, respectively. Additional flight frequency increases include the routes of Nagoya-Tianjin and Tokyo-Ho Chi Minh City. The Osaka-based JAL also plans to increase flight frequency on its Hanoi route in May 2007 and on routes serving the Chinese cities of Dalian, Hangzhou and Qingdao in July 2007.|
|Thailand Still Tops Asian Tourism Destination Despite Civil Unrest||Return to Headlines|
|Thailand remains the top destination in Asia-Pacific for travelers despite civil unrest in the country, according to an online survey conducted by VISA Asia Pacific and PATA, the Pacific Asia Travel Association. Of the 5,050 respondents in 10 countries, 20 percent named Thailand as their most likely destination. About two-thirds of those surveyed had already visited Asia, and 47 percent of those had been to Thailand. Thailand was again rated as the number one destination on travelers holiday lists, followed by Japan and China, the statement said. The survey found that of those intending to make an international trip in the next two years, 52 percent are considering Asia as their next travel destination, a nine percent increase from 2006.|
|Budget Hotel Chain Opens In Korea||Return to Headlines|
|A Korean hotel chain officially began business in April 2007, with hotels offering rooms at about one-third the cost of rooms in luxury hotels. The Seoul Metropolitan Government, the Ministry of Culture and Tourism, and the Korea Tourism Office (KTO) will jointly operate BENIKEA, an acronym of "Best Night in Korea". Foreigners have complained about Seoul's high accommodation prices. As part of its efforts to boost tourism, the Seoul Metropolitan Government said earlier in 2007 that it would convert a number of motels or other budget hotels to tourist hotels tailored for foreign travellers charging US$32 to US$53 per night. Municipal officials planned 300 of these hotels by 2010, with the top-end among these properties being converted to a BENIKEA hotel or franchised by foreign budget hotel chains such as Ibis.|
|St Regis To Debut In Jakarta, 2011||Return to Headlines|
|Starwood Hotels and Resorts has announced an agreement with Duta Anggada Realty Tbk to manage a St Regis Hotel and Residences in Jakarta, Indonesia. Located along Jalan Jendral Sudirman, Jakarta's "Wall Street", the hotel will offer convenient access to both the business district centred around Jalan MH Thamrin and the upscale residential district of Kebayoran Baru upon opening in 2011. As part of a hotel, residence and office mixed-use development, the St Regis Hotel and Residences will offer 176 guestrooms, 284 serviced residence units and more than 5,000 square feet of meeting space.|
|Singapore's Tanjong Pagar Reserve Hotel Site Attracts US$40 Million Bid||Return to Headlines|
|A committed bid of US$40 million has been received for a hotel site on the Government Land Sales (GLS) reserve list at Tanjong Pagar Road/Tras Street, Singapore. The site will now be put up for public tender in about two weeks time. Based on the committed bid price, the 30,844-square feet site, which has a plot ratio of 5.6 and a maximum gross floor area (GFA) of 172,728 square feet, works out to cost US$231 per square foot per plot ratio. This is the second hotel site on the reserve list to be put up for tender this year. The first was in Tanjong Pagar Road/Gopeng Street in March 2007, when the trigger price was US$243 per square foot per plot ratio.|
|Mark your calendar for the next CHIS 2008 from 16 - 18 April 2008!||Return to Headlines|
Congratulations to all 2007 Award Recipients for their achievements in the hospitality industry!
Hotelier of the Year
Lifetime Achievement Award
International Hospitality Excellence Award
Finest Resorts of the World
Global Investment Deals Award
With an overwhelming response from nearly 600 delegates from more than 30 countries worldwide this year, the CHIS 2007 was a roaring success. It was three days of exciting networking opportunities as key players from within the hotel industry including Accor, BISU, China Jinmao Group, CNTA, Coastal Commercial Developments, Colony Capital, Home Inn, IHG, Istithmar, Jinling, Jumeirah, Kingdom Hotel Investments, Lehman Brothers, Lingnan, Marriott, Raffles, Royal Bank of Scotland and Starwood gathered together in this high-profile event at the Grand Hyatt Shanghai.
Following the grand opening reception held at 789 Nan Jin Lu at Le Royal Meridien, the next two days were a series of remarkable events. Inaugurated by our Guest-of-Honour, Marilyn Carlson Nelson, Chairman and Chief Executive Officer of Carlson, an impressive keynote address was given by Ho Kwon Ping, Executive Chairman of Banyan Tree Holdings as on the future of the hospitality industry in adapting to changing travel patterns. The summit was followed by dynamic discussions highlighting on "Investment in China's Hospitality Real Estate" by leaders of the industry. Questions were put forward and issues tackled as high-profile personalities from several of the world's most successful hospitality firms revealed their best business practices including. Indeed, the CHIS is not only the place to meet, network and make deals but it also serves as a valuable learning platform for those in the hospitality industry.
Most importantly, we would like to thank all our supporters, patrons, media partners, moderators, panelists and delegates who have in one way or another helped make the CHIS 2007 another record breaking year. We look forward to seeing you in the next CHIS as we continue to give you great insights into this fast-growing industry.
|Absolute Share Price Performance, as at 27 April 2007|