Featured in this Asia Pacific Hospitality Newsletter - Week Ending 26 January 2007
Leela Palaces and Resorts Plans Five New Indian Hotels Over The Next Three Years
8.1% Increase In Visitor Arrivals To Hong Kong In 2006
Genting Enters Macau Gaming Market Via Tie Up With Stanley Ho
Hard Rock International Announces Signing Of Definitive Agreements For Hard Rock Hotel And Casino Macau
Grand Hotel Bid Set To Go Unconditional
China Hotel Investment Summit 2007 - Connect With The Leaders
Registrations Open For The 3rd Hotel Investment Conference - South Asia (HICSA)
Absolute Share Price Performance, as at 26 January 2007


Leela Palaces and Resorts Plans Five New Indian Hotels Over The Next Three Years Return to Headlines

Leela Palaces and Resorts (Leela) have confirmed end of January 2007 the expansion of the group with five hotels planned in Gurgaon- New Delhi, Udaipur, Chennai, Hyderabad and Pune, in the next three years. The property in Gurgaon will be the first to open in September 2007 and will feature 319 rooms and suites with a further 90 residences. In the city of Chennai, formerly Madras, Leela is investing US$72 million to build a 15-storey palace with 360 rooms anticipated to open in 2008. In Pune, one of the fastest growing regions in India, Leela is investing US$36 million to construct a 260-room luxury hotel, set to open in 2009. At the same time, a further investment of US$70 million will be made in a 300-room luxury hotel in Hyderabad, in the heights of the Deccan plains. Finally, a new palace hotel at Lake Pichola in Udaipur is under construction, with some 82 oversized guest rooms and suites.


8.1% Increase In Visitor Arrivals To Hong Kong In 2006 Return to Headlines

Provisional figures issued by the Hong Kong Tourism Board (HKTB) show that the financial contribution from inbound tourism to Hong Kong's economy in 2005 and 2006 is likely to reach US$15 billion in 2006. Overall visitor arrivals to Hong Kong in 2006 increased by 8.1% to 25.25 million, while arrivals in December exceeded 2.4 million, setting an outright record for a single month. Visitor increases were also seen from all key markets in 2006, including South Korea (718,758; +11.9%); the UK (516,495, +11.2%); and the Philippines (454,036, +16.1%). High-performing emerging markets included the Middle East (+24.2%) and the Netherlands (+14.8%). Arrivals from Mainland China exceeded 13.5 million (+8.4%).


Genting Enters Macau Gaming Market Via Tie Up With Stanley Ho Return to Headlines

Genting Group has teamed up with Macau's casino magnate Stanley Ho through the group's cruise operator, Star Cruises, in a US$602.3 million collaborative deal to build a hotel with a casino to be operated by Ho's Sociedade de Jogos de Macau. This enables the Malaysian casino and hotel operator to penetrate the lucrative gaming market when it commences operations in 2009. Through its subsidiary, New Orisol, Star Cruises is planning a boutique hotel called "Resorts World at Macau" on a piece of land owned by Macau Land Investment Corp, which the cruise operator is acquiring a 75% stake for US$187 million. On another note, Ho will also acquire a stake in Star Cruises, allowing him to participate in Genting group's casino resort project on Singapore's Sentosa Island.


Hard Rock International Announces Signing Of Definitive Agreements For Hard Rock Hotel And Casino Macau Return to Headlines
Hard Rock International and Melco Hotels and Resorts Limited (Macau), a subsidiary of Melco PBL Entertainment (Macau) Limited ("Melco Entertainment"), have signed definitive agreements for the development of Hard Rock Hotel and Casino Macau at the City of Dreams Casino and Entertainment Resort Complex, currently under construction in Macau. The City of Dreams Complex is planned to be developed by Melco Entertainment into a "must-see" integrated casino and entertainment resort, consisting of an underwater-themed casino, four luxurious hotels including Hard Rock Hotel, Grand Hyatt, Hyatt Regency and the Crown Towers, and other features. This development is slated to open in two phases, with the Hard Rock Hotel and Casino Macau to commence operations in phase one around late 2008.

Grand Hotel Bid Set To Go Unconditional Return to Headlines
Tung Sing and Morgan Stanley Real Estate are expected to receive acceptances for 62.6% of shares in the listed Grand Hotel Group on 24 January 2007, two months after making an initial takeover offer. This may lead to the bid being declared unconditional and the bidders to commence payouts. The bidders are offering US$1.08 per share, above the price of US$1.04 per share closed on 23 January 2007, and are valuing the group at about US$281.2 million. Grand Hotel Group owns four Hyatt Hotels and three Marque Hotels in Australia with a total room count of 1,820, amongst other properties. Should the bid be successful, Morgan Stanley would own its second hotel in Australia, after the Royal Pine Resort on Gold Coast. Recent acquisitions by Morgan Stanley Real Estate include Florida-based CNL Hotels & Resorts for US$6.6 billion.

China Hotel Investment Summit 2007 - Connect With The Leaders Return to Headlines

DATE: 18-20 APRIL 2007 VENUE: GRAND HYATT SHANGHAI

Join us at the most established hotel investment summit in China. Delegates to the China Hotel Investment Summit 2007 will have the opportunity to network with leading hospitality real estate owners, investors, financiers, management groups, academia, government bodies and others, as well as take part in engaging discussions on the hottest topics on China's hospitality real estate investments. Co-hosted by Beijing International Studies University and HVS International, 2007 will prove to be an exciting summit which focuses on 'Investment in China's Hospitality Real Estate'.

Catch the opportunity to hear from:

  • Prof. Dai Bin - President of Beijing Hospitality Institute and Director of Academic Research Office, Beijing International Studies University
  • A. Patrick Imbardelli - Chief Executive, Asia Pacific, InterContinental Hotels Group
  • Dr. Judy Siguaw - Dean, Cornell Nanyang Hospitality Institute of Hospitality Management
  • Dr. Lalia Rach - Associate Dean & HVS International Chair, Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management, School of Continuing & Professional Studies of New York University
  • Ho Kwon Ping - Executive Chairman, Banyan Tree Holdings Limited
  • Koos Klein - President, Middle East & Asia Pacific, Hilton International
  • Miguel Ko - President, Starwood Asia Pacific Hotels & Resorts
  • Steve Rushmore - President & Founder, HVS International
  • Tim Gao - Chairman, TEDA Hotels Management Limited
    and many more...

*Speakers, agenda and other conference events are subject to change without notice

To register contact: chis@chisummit.com or visit: http://www.chisummit.com


Registrations Open For The 3rd Hotel Investment Conference - South Asia (HICSA) Return to Headlines

Hotel Investment Conference - South Asia (HICSA) 2006 was an astounding success! In just two years of it's existence, HICSA has become extremely popular.

The event will be held on April 4-5, 2007 in Grand Hyatt, Mumbai, India. The conference is valued for its networking opportunities and content-rich sessions. HICSA has become a "do not miss" event for all those who are looking to invest in South Asia. India calling... Are you ready?

To register for the event, contact: hicsa@hvs.com or click here.

HICSA Website  |  Agenda  |  Register Now  |  Sponsors  |  Accommodation  |  More Information


Absolute Share Price Performance, as at 26 January 2007
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