| Nepal Records Increase In Tourist Arrivals | Return to Headlines |
| According to Nepal's Department of Immigration, Nepal recorded a total of 466,506 tourists during January to November 2007, the highest number of tourist arrivals since 1999. The surge in tourist arrivals comes after the signing of the peace agreement to end the 10-year Maoist insurgency and political turmoil. By the end of 2007, total tourist arrivals to Nepal are expected to exceed 500,000. During the first 11 months in 2007, the Japanese tourists have registered a 23.9% increase in arrivals to 19,487 as compared to the 15,755 during the same period in 2006. The increase in foreign arrivals has driven the average occupancy rate of five-star hotels in Nepal to 82% in 2007 as compared to 70% in 2006. | |
| Vietnam Witnessed More Foreign Arrivals | Return to Headlines |
| Vietnam welcomed over 3.8 million international visitors during the first 11 months of 2007, a year-on-year increase of 17.1%. According to the Vietnam National Administration of Tourism (VNAT), tourist arrivals have increased by 25.4% to more than 2.3 million, while business visitors have increased by 13.7% to more than 592,000 during this period as compared to the same period in 2006. The largest feeder markets of Vietnam's tourism includes China, South Korea, Japan and the United States with approximately 515,400, 432,000, 375,200 and 374,900 visitors, respectively. To attract more foreign visitors, Vietnam has strengthened investment in fostering overseas tourism promotion, training tourism-related jobs, and developing tourism infrastructure nationwide. By the end of 2007, Vietnam is expected to attract 4.2 to 4.4 million foreign visitors, 18.5 million domestic visitors, and tourism revenues of US$2.5 billion. The VNAT also targets 5.5 to 6.0 million international arrivals, 25 to 26 million domestic visitors, and tourism revenues of US$4.0 billion to 4.5 billion in 2010. | |
| Malaysia's YTL Hotels And Properties To Partner With Lehman Brothers Investments To Develop Luxury Resort In Koh Samui, Thailand | Return to Headlines |
| Malaysia's YTL Hotels and Properties Sdn Berhad, a wholly owned subsidiary of YTL Corporation Berhad, has announced the partnership with Lehman Brothers Investments Private Limited (LBI), a unit of Lehman Brothers Holdings Inc, to jointly develop a US$79-million five-star deluxe resort, residential villas and loft apartments in Koh Samui, Thailand. The design and construction of the project will be undertaken by YTL Construction (Thailand) Limited, a subsidiary of YTL Group. Located on the northeast coast of Samui, the site is within proximity to Koh Samui's airport and infrastructures such as shopping, dining and entertainment, as well as secluded from other developments by two private beaches which allow the properties to enjoy sea views. This venture, together with the YTL Group’s plans to invest in Vietnam, Cambodia, the Philippines and Malaysia, enables the group to increase the geographical diversification of its existing hotel operations throughout Southeast Asia. | |
| Accor To Open 20 Hotels In Malaysia | Return to Headlines |
| France's hotel and service group, Accor, has announced its plans to open at least 20 hotels in Malaysia between 2008 and 2012, ranging from its three-star Ibis brand to its five-star Sofitel brand. The group has confirmed the management of four new hotels in Malaysia, namely the 263-room Novotel 1 Borneo Kota Kinabalu and the 338-room Mercure Kota Kinabalu in Sabah scheduled to open in mid-2008, and the Grand Mercure Putrajaya and 390-room Novotel Kuching which are expected to open in early 2009. Accor is also currently in the process of negotiating for new hotel openings in Langkawi, Kedah, Ipoh and Perak, and has shown interest to add more hotels in Klang Valley, Penang and the East Coast. | |
| Shanghai's Chongming Island Likely To Be Site Of New Disneyland | Return to Headlines |
| Chongming Island, located at the mouth of the Yangtze River in Shanghai, looks set to be the site of the new Disneyland in China. The 1,200-square-kilometre island, which is the third largest island in China, has a population of 650,000 and has been slated for ecotourism development. The Disneyland is likely to open in northern Chongming Island after the 2010 World Expo in Shanghai which will help improve connectivity to the island through the construction of a new bridge and tunnel. Currently, agriculture is the main industry on the island and the proposed development of the Disneyland is awaiting approval from China's central government in Beijing. The Hong Kong's Commerce and Economic Development Bureau has not raised objections to the development as the country is seen to be able to support more than one international theme park. | |
| Yatra Capital And Atlas Hospitality Company Private Limited To Develop US$7.16 Million Hotel and Serviced Apartments In Pune, Maharashtra, India | Return to Headlines |
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India's real estate fund, Yatra Capital, has entered a joint venture with Atlas Hospitality Company Private Limited (AHPL), a subsidiary of Ruia Group, to develop a luxury hotel and serviced apartments in Pune, Maharashtra, India. The Yatra is expected to hold 20% stake in the US$7.16 million venture, which also marks its entry into India's hospitality industry. Scheduled to be completed in late 2009, the 26,900-square-metre project is likely to comprise 319 hotel rooms and 96 serviced apartments. Located on Pune city's main thoroughfare, Nagar Road, with mid- to high-end housing, and offices such as Accenture, Mahindra British Telecom and IBM, as well as a technology park in the vicinity, the project is expected to cater to the business travellers in the area. |
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| Absolute Share Price Performance, as at 7 December 2007 |
