Featured in this Asia Pacific Hospitality Newsletter - Week Ending 6 July 2007
More Starwood Hotels In Malaysia
Average Hotel Room Rates Hit Record High In Singapore
More Redevelopment Areas Declared In Taiwan
China's Golden Week Holidays Likely To Undergo Revamp In 2009
Sri Lanka Hoteliers Cut Rates In Bid To Attract Tourists
Australia To Earn More Than US$85.9 Billion A Year From Tourism In 2016
Absolute Share Price Performance, As At 6 July 2007

More Starwood Hotels In Malaysia Return to Headlines
Starwood is currently in talks with more than seven partners for possible hotels in Malaysian cities such as Johor Bahru and Penang. This includes rebranding of existing hotels and new hotel developments. According to Peter Frawley, Regional Vice-President of Starwood Asia Pacific Hotels and Resorts, the most popular Starwood brands in Asia Pacific include the Four Points by Sheraton, Luxury Collection, Sheraton, Le Meridien and Westin. At present, there are eight Starwood hotels in Malaysia and the ninth hotel is expected to commence operations by 2010. All the Starwood hotels in Malaysia, except the two Westin hotels are undergoing or will undergo refurbishment.

Average Hotel Room Rates Hit Record High In Singapore Return to Headlines
The hotel industry in Singapore is currently enjoying a good run with high occupancy and average room rates for the first half of 2007. The latest report by the Singapore Tourism Board (STB) indicated that average room rates in May had recorded a historic high of approximately US$126 while monthly average occupancy had recorded at 85% since April 2007. Several hotels in the Marina area are expecting room rates to increase by 25% in the whole of 2007 and occupancy to average over 90% in the last quarter of 2007. The Singapore Government has announced the release of several new hotel sites for the development of boutique and mid-tier hotels in bid to meet the growing lodging demand.

More Redevelopment Areas Declared In Taiwan Return to Headlines
The Taiwanese government has announced its plans to revitalize four urban areas located in the cities of Taipei, Keelung and Kaohsiung in bid to resolve land utilisation issues and stem slowing population growth. The plan, which includes a business and tourism development to be built on a 7.6 hectare site near the Keelung Railway Station, is intended to create huge business opportunities and sharpen Taiwan's international competitiveness. This proposal comes after the selection of 50 other areas in Taiwan for redevelopment, commencing at the end of 2007, which will produce 105,000 jobs and drive business opportunities worth approximately US$11.58 billion.

China's Golden Week Holidays Likely To Undergo Revamp In 2009 Return to Headlines
The dean of the tourism administration department at Beijing International Studies University has revealed that the Chinese government is likely to shorten its golden week holidays and declare public holidays on dates of other traditional festivals by 2009. Speaking at a forum in Xiamen, Fujian province, Zhang Hui revealed that the May Day and the National Day holidays may be shortened, while only the Lunar New Year golden week would be preserved. Traditional Chinese festivals like the Mid Autumn Festival and the Lantern Festival may be chosen as public holidays to make up for lost holidays. This comes in the light of feedback from domestic tourism experts that the current volume of domestic travel during the holidays is threatening many heritage sites and scenic spots and there are increasing appeals to cancel the golden weeks.

Sri Lanka Hoteliers Cut Rates In Bid To Attract Tourists Return to Headlines
Hotels in Sri Lanka are cutting prices in an attempt to win back tourists in the aftermath of the December 2004 tsunami and continuing civil conflict between the Tamil Tigers and the local government. According to published figures, the number of British visitors to Sri Lanka fell from 38,420 during the first five months of 2006 to 34,021 in the same period in 2007, while total tourist arrivals fell by 40% in May 2007 as compared to the same month in 2006. Several three-star hotels had shut down due to low occupancy while other hotels are reducing prices. Local tourism officials have only issued travel advisories against the northern and north eastern regions of the country and despite that, no foreigner has been affected to date. Security has also been tightened in Colombo. This makes the country a good time to visit with many bargains on offer. Operators and hoteliers also hope that the planned visit of the England cricket team at the end of 2007 may encourage tourists to return.

Australia To Earn More Than US$85.9 Billion A Year From Tourism In 2016 Return to Headlines
Australia's Tourism Forecasting Committee has indicated that the country's inbound and domestic tourism would contribute approximately US$85.9 billion a year, in real terms, into the national economy by 2016. This increase, from US$72.1 billion in 2006, will be mainly driven by increased Asian visitors as the aviation sector in Asia develops while the Australian dollar is weakening. It is also forecasted that travellers coming to Australia would spend US$30 billion a year in real terms by 2016, compared to US$18.9 billion in 2006. Domestic tourism is predicted to contribute US$55.8 billion to the economy in 2016, an increase from US$53.2 billion in 2006.

Absolute Share Price Performance, as at 6 July 2007
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