Featured in this Asia Pacific Hospitality Newsletter - Week Ending 1 June 2007
Plans For New Mice Facility In Phuket
Hong Kong-Listed Shimao Property To Invest US$391.8 Million In Beijing Project
Prices At Taiwan Tourist Hotels Rose by 4.3% In Early 2007
Marriott Hotel Planned For Macau Studio City Complex In Macau
IGB Plans To Build Hotel In Australia
Japan To Legalise Casino Gambling In Bid To Attract Tourists
Absolute Share Price Performance, As At 1 June 2007


Plans For New Mice Facility In Phuket Return to Headlines
Thai Tourism Minister held a meeting end of May 2007 with the Tourism Authority of Thailand (TAT) and Phuket tourism professionals for the construction of a dedicated convention centre in Thailand's most popular resort destination. According to TAT, various sites were inspected, but the project has yet to materialise. The meeting involved the inspections of two sites in Phuket namely a 16.8-hectare plot on Ao Makam bay, and three plots ranging between 24 and 56 hectares on Mai Khao beach.

Hong Kong-Listed Shimao Property To Invest US$391.8 Million In Beijing Project Return to Headlines
Shimao Property Holdings Ltd announced its plans to invest a total of US$391.8 million in developing a flagship commercial complex project in Beijing's Sanlitun district. The project will consist of a five-star hotel, cultural and entertainment facilities and stores selling world-renowned brands, the company said. The complex is close to Beijing's prime locations, such as the foreign embassies area and the central business district on Chaoyangmenwai in Chaoyang district. Shimao Property reported the complex will include the Beijing Huaping International Plaza, a commercial building acquired by the group in February 2007 for US$137.1 million.

Prices At Taiwan Tourist Hotels Rose by 4.3% In Early 2007 Return to Headlines
Prices at Taiwan's tourist hotels rose by 4.3 per cent in the first four months of 2007 according to the Directorate General of the Budget, Accounting and Statistics (DGBAS). DGBAS officials said that as at the end of April 2007, there were 90 tourist hotels with 21,274 rooms, down 0.6 per cent from the same period in 2006. Room prices at tourist hotels averaged US$97.2 in the first four months of 2007, up 4.3% from the same period in 2006. International tourist hotels averaged US$102.2 per night, while ordinary tourist hotels averaged US$67.8 per night.

Marriott Hotel Planned For Macau Studio City Complex In Macau Return to Headlines
The 968-room Marriott hotel will be part of a large-scale mixed-use complex, the Macau Studio City, in Macau, China. Scheduled to open in 2009, the Macau Studio City Marriott Hotel will be Marriott International's first hotel in Macau and will be situated in a 30-story tower block in Macau Studio City, Cotai Strip. With its intended target market of MICE and leisure segments, the Hotel will offer 968 rooms, 3,000 square metres fitness centre, five food and beverage outlets including a pool bar, and 3,750 square metres of meeting and conference space.

IGB Plans To Build Hotel In Australia Return to Headlines
Malaysian Property group, IGB Corp Bhd, has submitted a tender to build a three or four-star hotel in Sydney, Australia. No date has been set for its expected opening as the group is waiting for approval from the relevant authorities. As part of its expansion plans, IGB’s hotel division is also scouting for other assets in Australia and in emerging markets in Asia.

Japan To Legalise Casino Gambling In Bid To Attract Tourists Return to Headlines
Japan's ruling Liberal Democratic Party (LDP) is planning to legalise casino gambling in 2008 in bid to stimulate tourism, boost tax revenues, and propel the revitalisation of the country's local economies. According to the head of the LDP policy group, the move is part of broader efforts to attract more foreigners to the country, from 7.3 million tourists in 2006 to a target of ten million in 2010. It is also believed that this would earn the government significant tax revenues and spur investment and employment rates, in the face of a declining population and shrinking tax base. The move is further considered crucial for revitalising local economies, which have not matched up to urban areas in terms of economic recovery. Barriers and safety nets will also be proposed in the bill to prevent social problems from local gambling.

Absolute Share Price Performance, as at 1 June 2007
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