| Accor's All Seasons Adds Three Hotels In Thailand | Return to Headlines |
| Accor Group has announced the development of three All Seasons hotels to be located in key business and tourist destinations in Thailand, following the brand's successful launch of the All Seasons Pattaya in December 2006. Positioned above Accor's Ibis brand, the All Seasons brand was created to address the shortage of international quality economy and mid-market hotel accommodation in Thailand and has since received strong response from domestic and international travellers. With the rebranding exercise to complete in October 2007, the 159-room All Seasons Gold Orchid Bangkok (formerly Gold Orchid Bangkok), 110-room All Seasons Sathorn Bangkok (formerly King's Hotel) and the 154-room All Seasons Naiharn Phuket (formerly Sabana Resort) are expected to attract business and leisure guests. | |
| Singapore To Explore Novel Ideas For Hotel Accommodation | Return to Headlines |
| Singapore Tourism Board (STB) has announced its plans to explore the viability of alternative hotel accommodations such as water floating hotels to alleviate the current hotel room supply crunch in Singapore. With the current room count of approximately 35,000 rooms and an expected 50,000 visitors for the Formula One Singapore Grand Prix to be held on 28 September 2008, STB is open to novel ideas to provide visitors with a wider choice of accommodation options. It is, however, noted that the floating hotel project may not be completed in time for the Formula One Grand Prix as the STB is committed to explore long-term solutions for the supply shortage and not to cater for just a particular event. Unlike typical floating hotels found in countries like the Netherlands, the proposed floating hotels, if feasible, will likely to be developed by retro-fitting existing cruise ships with hotel-like requirements. | |
| Cambodian Authorities Approve Tourist Resorts Development On Islands | Return to Headlines |
| The Cambodian government has approved projects of two local companies and four foreign companies to develop tourist resorts at an aggregate of US$627 million on the islands off southwest of Cambodia's capital, Phnom Penh. Under the agreement with the government, the companies are able to lease areas of the islands for a term of 99 years. The approval comes in the light of recent initiatives undertaken by the government to develop the nation's coastal areas into a new tourist destination, including the reopening of the airport in Sihanoukville in early 2007 as well as allowing a Russian company to develop a US$300 million tourist resort at Koh Pos in 2006. | |
| Indian Hotels Limited To Raise US$462 Million For Expansion And Buyouts | Return to Headlines |
| Indian Hotels Company Ltd, operator of the Taj chain of hotels, has announced its intention to raise up to US$462 million through two simultaneous but unlinked rights issues to the shareholders of the company for long-term financing needs like capital expenditure and growth plans, including possible acquisitions. The company plans to offer rights issue of equity shares in the ratio of 1:5 at a price of US$1.70 per share aggregating US$205 million. In addition, it will offer rights issue in the ratio of 1:10 of a five-year, four per cent, unsecured convertible debentures of face value in the range of US$3.65 to US$4.38, which can be converted into shares after two years in the same price range of its face value. The exact terms of this convertible debentures issue would be determined at the time when the issue is actually to be made and depending on these terms, the amount to be raised would range from US$219 million to US$263 million. | |
| Malaysia's Berjaya Land In Hotel JV In Vietnam | Return to Headlines |
| Malaysia-based Berjaya Land Berhad has announced that its wholly-owned subsidiary, Berjaya Leisure Limited (Berjaya Leisure), has entered into joint venture with Vietnam's Le Thi Chi Proprietorship (LTCP) and Long Beach Joint Stock Company (Long Beach) to own, operate and manage a five-star resort in Phu Quoc Island, Vietnam. Under the agreement, the resort, currently under construction by LTCP, will be purchased by the joint venture company for US$14.14 million. Located on a beachfront on the southwestern side of Phu Quoc Island and overlooking the Gulf of Thailand, the resort will offer 100 standard rooms, four suites, one presidential suite and six VIP suites and is expected to open by end September 2007. | |
| Investment Opportunity - Prime Beachfront Resort Sites, Lagoi bay, Bintan | Return to Headlines |
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HVS, as sole advisor, is pleased to offer for sale seven exclusive beachfront land parcels for the development of 100- to 500-key international-standard resorts located in Lagoi Beach Village on Bintan Island. We highlight the key features of this opportunity:
For more information, please contact Basil Chan at [email protected] or +65 6293 4415 Ext 14. |
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| Absolute Share Price Performance, as at 17 August 2007 |
