Featured in this Asia Pacific Hospitality Newsletter - Week Ending 31 August 2007
Great Pacific Financial Group To Develop More China Hotels
W Retreat And Spa Opens Its First Property In Bali, Indonesia
International Luxury Hotels Rise In Japan
DLF To Develop Four Seasons Hotel In Gurgaon
Korean Hotels Being Transformed Into Art Galleries
Marina Bay Integrated Resorts To Cost More Than US$2.4 Billion Venetian Macau
Absolute Share Price Performance, As At 31 August 2007

Great Pacific Financial Group To Develop More China Hotels Return to Headlines
Sydney's Great Pacific Financial Group has announced plans to invest more than US$500 million in China between 2008 and 2012, mainly to develop hotels. The Group has intended to open 30 Grand Pacific hotels in China to take advantage of country's growing economy and blooming tourism industry. Currently, it has invested approximately US$50.9 million in China with diversified business in the hospitality, energy and semiconductor industries. According to the World Tourism Organisation, China is expected to be the top tourist destination in the world by 2020.

W Retreat And Spa Opens Its First Property In Bali, Indonesia Return to Headlines
Starwood Hotels and Resorts has announced the opening of the world's fourth W Retreat and Spa in Seminyak, Bali, Indonesia in 2009. Developed by PT Dua Cahaya Anugrah, the resort is located on a seven-hectare beachfront site in the Seminyak area with boutiques, galleries, restaurants and clubs in its vicinity. The W Retreat and Spa, Bali will offer 232 guestrooms, including 152 ocean view guestrooms and 80 Balinese-designed villas with private swimming pools. Tourist arrivals to Bali in the first six months of 2007 rose by 35 percent to approximately 750,000 as compared to the same period in 2006, making it one of the most popular resort destinations in the world.

International Luxury Hotels Rise In Japan Return to Headlines
International luxury hotels in Tokyo, Japan have achieved high occupancy rates mainly due to the recovery of the Japanese economy and increased in international arrivals to Japan, accompanied by more affluent travellers. New international hotel openings are expected to drive the market providing more accommodation options to the consumers. These new additions include the 248-room Ritz-Carlton located in Tokyo Midtown complex in Roppongi and the 314-room Peninsula Tokyo which is located in the Chiyoda ward and within walking distance to the Ginza shopping district. In addition, a 204-room Shangri-La Hotel located in Tokyo's commercial district, Marunouchi is expected to open in March 2009.

DLF To Develop Four Seasons Hotel In Gurgaon Return to Headlines
India's real estate developer, DLF, will develop a 250-room Four Seasons Hotel in Gurgaon, India, at an investment of US$147 million. According to DLF, India's first Four Seasons Hotel will be developed on a ten acre land at DLF Golf Link and is expected to open before the Commonwealth Games in 2010. The hotel development is part of DLF's extensive plans to be India's largest hotel group. The developer has also secured tie ups with Hilton Group to construct over 25,000 hotel rooms on 40 parcels of land in 71 cities in the country by 2010. The cities include Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Pune, Chhatisgarh, Amritsar and Ludhiana.

Korean Hotels Being Transformed Into Art Galleries Return to Headlines
Hotels in Korea are becoming more like art galleries, displaying various art works and holding art exhibitions. According to the general manager of W Hotel Seoul, the role of local hotels has evolved from the provision of mere accommodation and meals to a place of lifestyle, which involves culture and art. This not only creates efforts to support local artists, but also allow guests to enjoy the works of art for free. With many five-star hotels like the Grand InterContinental Seoul and COEX InterContinental Seoul catching on this trend, these art work displays can also attract patrons through organised art lunch and tea programmes.

Marina Bay Integrated Resorts To Cost More Than US$2.4 Billion Venetian Macau Return to Headlines

Las Vegas Sands (Sands) have revealed during the official opening of the US$2.4 billion Venetian Macau that Singapore's Marina Bay Sands (MBS) integrated resort will cost more - up to US$3.4 billion - due to rising construction costs and refinement of the complicated design of the curving structure of the hotel towers. The cost of MBS had previously been estimated at US$3.31 billion including US$852 million for the land. Despite this setback, US$459 million worth of construction contracts have already been awarded and Sands expect the integrated resort to open on time in 2009. The MBS is expected to focus more on the MICE segment rather than the gaming component, while the Venetian Macau will be targeting at the leisure and MICE segment. According to the Sands' COO, William Weidner, the two properties are not expected to compete with each other as their selling points are different.

Absolute Share Price Performance, as at 31 August 2007
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