Featured in this Asia Pacific Hospitality Newsletter - Week Ending 8 June 2007
New Traders Hotel Beijing To Open In August 2008
New Radisson Hotel Planned In Indore, India
China Airline Passenger Traffic Expected To Increase By 16% To 185 Million In 2007
Singapore's Hotel Grand Central Sells Australian Hotel For US$44 Million
Accor Plans To Open 80 Hotels In China By 2009
Perth Hotels Extend Their Appeal
Absolute Share Price Performance, As At 8 June 2007


New Traders Hotel Beijing To Open In August 2008 Return to Headlines
Shangri-La Hotels and Resorts has signed a management agreement with Beijing's Super Shine Co. Ltd. to manage a new Traders Hotel in Beijing. Located along Xiao Yun Road in the north eastern portion of the city, the 419-room hotel will be within 20 minutesí drive from Beijing Capital International Airport. The property, which will be the Shangri-La Group's second Traders Hotel in the Chinese capital, is expected to open in 2008, in time for Beijing 2008 Olympic Games.

New Radisson Hotel Planned In Indore, India Return to Headlines
Carlson Hotels Worldwide Asia Pacific announced the development of Radisson Hotel Indore in India, anticipated to open in September 2009. The hotel will be managed by Bestech Hospitalities Pvt. Ltd. The 200-room Radisson Hotel Indore will be located in the city's major commercial district near a number of business establishments and about 10 minutes from the domestic airport. The Radisson Hotel Indore brings the number of Carlson hotels currently under development in India to 17. There are currently 32 hotels operating in India under the Carlson hotel brands of Radisson Hotels & Resorts, Park Plaza Hotels & Resorts, Country Inns & Suites by Carlson and Park Inn.

China Airline Passenger Traffic Expected To Increase By 16% To 185 Million In 2007 Return to Headlines
According to a research report by the General Administration of Civil Aviation of China (CAAC), passenger traffic to the mainland has been forecasted to experience a 16% increase to 185 million by the end of 2007. Airline passenger traffic has increased by 15.7% year on year to 56.5 million in the first four months of 2007 and growth is expected to be sustained by the country's rapid economic growth and its booming tourism industry. Domestic traffic is also expected to grow by 8% year on year to 1.5 billion in 2007.

Singapore's Hotel Grand Central Sells Australian Hotel For US$44 Million Return to Headlines
Singapore's Hotel Grand Central Ltd has announced that its subsidiary unit, Hotel Grand Chancellor (Perth) Pty Ltd has reached an agreement to sell the 275-room Hotel Grand Chancellor Perth for US$44 million to an undisclosed buyer. With the transaction expected to be completed at the end of June 2007, the SGX-listed group will pocket US$7.3 million from the sale. According to the group, the disposal has no material effect on its net tangible asset per share for the year ending 31 December 2007 and proceeds may be used to fund future investment opportunities.

Accor Plans To Open 80 Hotels In China By 2009 Return to Headlines
Accor has announced its plans to open 80 hotels in China by 2009. The group currently has 44 hotels in China and aims to add another 18 hotels to its portfolio by the end of 2007. The 18 hotels to be opened will consist of a mixture of newly developed hotels and takeovers of existing hotels. Accor, which runs both luxury and budget chains, will focus on developing economy hotels, which have received stronger demand than luxury hotels on the mainland, said Robert Murray, Accor's Senior Vice-President for China.

Perth Hotels Extend Their Appeal Return to Headlines
Several hotel management companies have announced their plans to expand and refurbish despite the increasing trends in land prices and construction costs in the city. The 117-room Seasons of Perth is on course to commence its extensive refurbishment and expansion project in September 2007, which will increase its room count to 188. The 390-room Sheraton Perth Hotel is currently undertaking a US$16.9 million expansion project, converting its Adelaide Terrace office space into 96 executive rooms and suites. The expansion is expected to complete by August 2007, taking the hotelís room count to 486. Additionally, a proposed US$59 million, four-star Frasers Suites apartment is also in the pipeline in the eastern part of the city. The proposed 180-room serviced apartment will be part of a mixed-use development.

Absolute Share Price Performance, as at 8 June 2007
Return to Headlines