| Featured in this Asia Pacific Hospitality Newsletter - Week Ending 5 January 2007 |
| Lebua To Offer US$25,000-Per-Night Penthouses | Return to Headlines |
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Lebua at the State Tower in Bangkok, a member of Small Luxury Hotels of the World, will invest US$16.8 million to renovate six penthouses to be rented out at between US$20,000 and $25,000 per night. The penthouses will be located on the 60th, 61st and 62nd floors of the State Tower on Silom Road. Each room will cover an area of 1,200 square metres, with a private swimming pool and dining room. Mr. Deepak Ohri, managing director of Lebua Hotels and Resorts Co Ltd said the renovation would be completed at the end of 2007 and the hotel would be the first in Thailand to offer penthouses at this rate. |
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| Cebu To Host Major Events In 2007 To Boost Tourism | Return to Headlines |
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Cebu International Convention Centre, the country's newest international convention centre, will be busy in 2007 with several big tourism fairs and exhibits, conferences and conventions. Besides the 12th ASEAN Summit Meeting, which was postponed to 10-15 January 2007, the centre will host the second Tourism Jobs Fair in April, the first Philippine Cuisine Expo in September, the seventh Philippine Travel Exchange in November and the Kalakbay Awards in December. |
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| IFA Buys Share Of Bangkok Condo Group | Return to Headlines |
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IFA Hotels & Resorts (IFA HR) recently expanded its global presence by acquiring approximately 24.9% of Raimon Land Plc, a Bangkok based luxury condominium and real estate development company listed on the Stock Exchange of Thailand (SET). The acquisition is valued at approximately US$30 million. Werner Burger, President & COO of IFA HR said, "This strategic alliance provides outstanding synergy of skills. Raimon Land is engaged in top end property development in Thailand and has a unique knowledge of the market and region where they have secured and developed prime real estate products. The acquisition is expected to serve as a platform from which we can expand throughout the South East Asian region to pursue further growth and presence." |
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| We're Out Of Room | Return to Headlines |
| Geelong (Victoria, Australia) turned away hundreds of tourists over the New Year due to a lack of accommodation and the situation looks set to worsen as tourist demand for the region surges. Tourism head Roger Grant yesterday said "local and state governments needed to tackle the problem now to stem the flow of tourists heading away from the region." It is understood that many people are contacting tourism information centres looking for a place to stay and that there were too few beds available. Many tourists were having difficulty finding certain types of accommodation such as serviced apartments or well serviced hotels. Mr Grant made a statement that the region needed another 'big-brand' hotel to join the Four Points by Sheraton and the Mercure, covering the high end of the market." | |
| Food And Beverage Revenues Rise For Hotels | Return to Headlines |
| The booming business and tourism trades are driving up food and beverage revenues for hotels this year, much in line with the trend for the past two years. One of the main drivers for F&B, apart from the guests consuming food and beverages, is the MICE segment. On an average, hotels earn about 30 percent of their gross revenues from F&B. Higher F&B revenues also come at a higher cost, unlike in rooms, where the costs of maintaining a room are much lower. For instance, HVS's analysis shows a hotel typically spends 54 percent of its total costs on F&B, which includes sourcing food items, storage, transportation, waste and so on. By contrast, hotels spend 15 percent on room costs, chiefly linen and maintenance. Rooms once made only need replacement items, F&B always needs fresh, every day products whose price can vary significantly around the year and of which a very limited inventory can be safely maintained. Hence a rise in restaurant guests also means a rise in costs. However, the ratio is still very much in favour of the hotel. | |
| Malaysia Hosts Flora Fest 2007 To Attract More Tourists | Return to Headlines |
| Apart from the grand official launch of the Visit Malaysia Year (VMY) 2007, the Malaysian Tourism Council (MTC) will launch an array of events in a bid to attract more tourists to the country. Topping the list is the Flora Fest 2007, which would transform selected venues in the capital city and Putrajaya, with a colourful display of flora found in the country. VMY 2007 will be officially launched by Prime Minister Abdullah Ahmad Badawi at Taman Tasik Titiwangsa. | |
| Absolute Share Price Performance, as at 5 January 2007 |
