| High occupancy levels and steadily increasing visitor
arrivals to the Philippines in the last several years has caught the attention
of hotel and property developers. According to estimates of the Philippines
Department of Tourism, more than US$4 billion is expected to be invested
in hotel developments in the country. Additionally, President Macapagal-Arroyo
has allocated a budget of US$1.69 billion over the next three years to fund
various programs designed to support and increase tourism to Central Philippines,
including the construction of new environmentally-friendly airports, seaports,
access roads and railways to allow travel to and within the Philippines
to be faster and more comfortable. |
| Scandinavian tour operators have reported a significant
increase in bookings to Thailand over the winter holiday in 2007. According
to TUI Nordic's product area manager for Southeast Asia, the company estimated
its clients from the Nordic countries to all Thai destinations would increase
to 130,000 visitors between October 2007 and April 2008, representing a
30% increase from the previous period. 60% of the estimated 130,000 visitors
are expected to visit Phuket and Krabi. In order to cope with increased
demand, there are plans for an introduction of new charter services and
an increase of frequencies on existing flights between Nordic countries
and Thailand by the end of 2007. |
| China will lift the restriction on foreign travel
firms in establishing branches in China effective on 1 July 2007 honouring
its commitments to the World Trade Organization (WTO) ahead of schedule,
according to Wang Zhifa, deputy director of the China National Tourism Administration
(CNTA). Overseas tourism companies with an annual tourism operating turnover
exceeding US$40 million are allowed to apply for setting up foreign-controlled
travel firms in China, and those with an annual tourism operating turnover
exceeding US$500 million are permitted to apply for establishing wholly
foreign-owned travel companies. Wang said that the CNTA is studying on how
to attract strong and large tourism enterprises and brand-name companies
to China's tourism market. |
| Las Vegas Sands Corp. has announced that the Venetian
Macau Resort Hotel, a multi-use integrated resort and the anchor property
of Macau's Cotai Strip development, will open on 28 August 2007. The one
million square metre property will feature 3,000 all-suite rooms, 112,000
square metres of meeting, convention and exhibition space, an 1,800-seat
Cirque du Soleil theatre, world-class entertainment in a 15,000-seat arena,
and 93,000 square metres of retail space offering high-end luxury products.
The launch of the Venetian Macau Resort Hotel will mark the opening of the
second Las Vegas Sands property in Macau. |
| Shangri-La Asia and MCS Holding have resumed the
development of a US$64 million mixed-use project in Ulan Bator, Mongolia,
which includes a hotel component. Shangri-La and MCS, a Mongolian conglomerate,
have previously agreed to form a 75:25 joint venture to develop a 190-room
hotel, residential, office and retail mixed-use development, however, land-use
problems have delayed the project. MCS currently leases the 30,000-square
metre site from the government and will transfer its land-use rights to
the joint venture by December 2007. |
| Stella Hospitality Group has acquired three hotels
and two apartment properties located in the Gold Coast through the recent
takeover of Sunleisure Group Limited. The hotel properties joining the group
are Q1 Resort & Spa, Legends Hotel and Circle on Cavill. Stella Hospitality
Group Chief Executive Officer, Bob East, said all properties would now be
managed by the Stella Hospitality Group. Q1 Resort & Spa will retain its
existing branding, Legends Hotel will join the Mantra brand and will become
Mantra Legends Hotel while Circle on Cavill will join the Saville Hotel
Group and will be re-branded as Saville Circle on Cavill. Stella Hospitality
Group has acquired a number of property and hospitality groups in 2006 and
2007, including the Saville Hotel Group, the Outrigger Resorts Group, the
S8 Property Trust and most recently the Sunleisure Group. |
