|Featured in this Asia Pacific Hospitality Newsletter - Week Ending 12 January 2007|
|China Hotel Investment Summit 2007 - Connect With The Leaders||Return to Headlines|
18-20 APRIL 2007 VENUE: GRAND HYATT SHANGHAI
Catch the opportunity to hear from:
*Speakers, agenda and other conference events are subject to change without notice
|HVS International And Infosys BPO Alliance||Return to Headlines|
HVS International is pleased to announce a global strategic alliance with Infosys BPO Ltd. Our outsourcing solutions will be tailor made to enable your operations work more efficiently and, at the same time optimize costs. By working with us, our clients will both free themselves to focus on key areas of their business, and find time to explore new opportunities and new vistas. Through design and implementation of functional solutions in the key areas of hotel operations, our objective will be to create value by streamlining and making processes and functions more efficient, thus enabling greater productivity and cost optimization.
|Singapore's Banyan Tree Group To Build Tourism Complex In Vietnam||Return to Headlines|
Singapore's Banyan Tree group has pledged US$200 million to build an international standard tourism and services complex in central Thua Thien-Hue province's Chan May-Lang Co economic zone (EZ). A memorandum of understanding to this effect has been signed between representatives of Banyan Tree and Thua Thien-Hue provincial people's committee. The 200 hectare complex will include six resorts and hotels with 2,400 rooms. Banyan Tree has invested in 60 similar tourism and services complexes in 22 countries. The Chan May-Lang Co EZ, located about 70 km from Hue city, was established in January 2006 and covers and area of about 27,000 hectares. The zone also includes Lang Co beach, which is being considered to be nominated to the list of the world's most beautiful beaches.
|US$2.1 Billion Casino Resort Breaks Ground In Macau||Return to Headlines|
|Macau Studio City, a US$2.1 billion casino resort being built by a consortium of developers led by eSun Holdings, will feature hotels offering more than 2,000 rooms including Marriott and Ritz-Carlton, as well as a first-of-a-kind boutique luxury hotel to be created by Shanghai Tang founder David Tang. The resort broke ground early January 2007 on a 1.5 million square foot site on Macau's Cotai Strip. The complex will initially include an 18,600-square metre casino to be operated under a revenue-sharing agreement between Nasdaq-listed Melco PBL Entertainment, a joint-venture between Hong Kong-listed Melco International Development and Australia's Publishing and Broadcasting Ltd. The resort, situated on reclaimed land acquired by eSun in 2001 at the southern end of Cotai Strip, will also feature a 93,000-square metre themed shopping arcade, 2,300-seat theatre, 4,700-person capacity exhibition and meeting centre, and television and film production facilities.|
|Singapore Hoteliers Expect Rate Hikes Of Up To 10 Percent||Return to Headlines|
|With tourist arrivals increasing and room supply limited in Singapore, hotel operators plan to bump up rates by as much as 10 percent this year on top of a 20 percent rise last year. Market watchers point out that the bullish trends for room and occupancy rates last year were underpinned by major events such as Asian Aerospace in February and the International Monetary Fund and World Bank meetings in September. Without the same kind of push this year, price rises will not be as big as in 2006 but hoteliers are confident that growing tourist arrivals mean the momentum can be maintained. Many see rate increases as long overdue, saying rates in Singapore have long lagged those in other major Asian cities such as Hong Kong. There is an increased focus on the competitiveness of hotel room rates relative to other Asian cities and this has helped to pave the way for market expectations to adjust upwards.|
|Suvarnabhumi To Utilise Don Muang Airport This Summer||Return to Headlines|
|The Airports of Thailand (AoT) looks poised to gain a green light on operating a dual-airport operation at Suvarnabhumi and Don Muang International Airports as early as this summer's flight schedule. It is understood the AoT was in the process of obtaining a cabinet approval to re-locate some 30 per cent of domestic and international flights from Suvarnabhumi to Don Muang. If the cabinet approved the dual-airport policy, which was expected to happen sometime in January 2007, Don Muang Airport would be re-opened for commercial flights at the end of March 2007. Suvarnabhumi Airport, which opened in late September 2006, is reported to already be reaching its initial saturation point of 45 million passengers. It is estimated to cost USD 1.4 billion to construct a new midfield terminal to expand the annual passenger handling capacity to 54 million. But it would cost approximately USD 3 million to renovate and re-open Don Muang Airport, as well as help to prolong congestion at Suvarnabhumi Airport.|
|Absolute Share Price Performance, as at 12 January 2007|