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| China Postal Group Puts 30 Hotels on The Market | Return to Headlines |
| Thirty hotels owned by the state-owned China Postal Group (CPG) were put up for sale on the Shanghai United Assets and Equity Exchange on 22 March 2007. "This is another major move in the group's reform after the establishment of the postal savings bank," said Ren Yongxin, a senior CPG official. It was reported that bidding would start only after the hotels had undergone asset evaluations, but declined to reveal how the sales revenue would be used. The hotels are all described as profitable and include three four-star and 13 three-star establishments. They are scattered in Beijing, Chongqing, Gansu, Heilongjiang, Hunan, Jilin, Jiangxi, Liaoning, Shandong, Shaanxi, Sichuan, Tibet, Ningxia, Xinjiang, Jiangsu, Hubei and Zhejiang. | |
| Accor Opens Its 300th Hotel | Return to Headlines |
| Accor has opened its 300th hotel in the Asia Pacific region with the launch of the Grand Mercure Xidan Beijing in China. The re-branding of Grand Mercure Xidan Beijing follows a record 2006, during which the group's Asia Pacific hotel network grew by 21%, adding 53 hotels in 12 countries. Main countries for growth were China, Thailand, Indonesia and Australia. The expansion included significant new hotel openings covering all seven hotel brands that Accor operates in the region: Sofitel, Grand Mercure, Novotel, Mercure, All Seasons, Ibis and Formule 1. Accor also has a further 95 hotels committed to open over the next two years, with China and India being two of the principal growth markets. | |
| Macau's Visitor Arrivals Rise in February | Return to Headlines |
| The number of Macau's visitor arrivals reached 2.2 million in February 2007, a year-on-year rise of 22.3 percent, according to official statistics. The figures from the government-run Statistics and Census Service (SCS) showed that the majority of the visitors in the month came from the Chinese mainland (57 percent), Hong Kong (31 percent) and Taiwan (5 percent). Among the mainland visitors, some 50 percent travelled to Macau under the Individual Visit Scheme, which frees the mainland tourists from the group tour. | |
| Bali Stages A Come-Back | Return to Headlines |
| Bali's tourism sector fared better than expected in 2006. According to preliminary figures, year-on-year foreign visitor arrivals in November and December 2006 grew by 81.6% and 61.9% respectively. Increasing numbers of European and North American visitors have helped diversify Bali's visitor mix. Another positive sign for the island is a boom in arrivals from regional markets fuelled by the introduction of low-fare flights operated by budget carriers AirAsia and Jetstar. The Australian market is expected to bounce back in 2007 as a result of new flights by Jetstar Asia and the continuation of Garuda's service on the Australia-Bali sector. New flights from Qatar Airways and the prospect re-launch of Air Paradise are positive news for Bali's tourism sector. Another positive development could be the nomination of three Balinese sites as World Heritage Sites by the UNESCO. | |
| China's Jinling Hotel Sets Shanghai IPO Price Range At US$0.52-0.55 | Return to Headlines |
| Nanjing-based Jinling Hotel Corp Ltd said it has set the price range for its planned listing in the Shanghai bourse at US$0.52-0.55 per share. That translates to a price-to-earnings ratio of between 31.25 and 33.20 times the company's diluted earnings for 2005, the company said in a statement to the Shanghai Stock Exchange. The company said it plans to issue 110 million A-shares on the Shanghai bourse, representing 37 percent of its enlarged share capital. About 22 million A-shares will be sold to institutional investors and the remainder to retail buyers, the company said. Huatai Securities Co is the main underwriter of the IPO. Jinling Hotel's A-shares are expected to start trading on the Shanghai bourse on 6 April 2007. | |
| China Hotel Investment Summit 2007 - Network With The Industry Leaders | Return to Headlines |
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Date: 18-20 April 2007
Broaden your knowledge on China's thriving hospitality real estate. Share the experience of high-profile personalities including:
*Speakers, agenda and other conference events are subject to change without notice To register contact: [email protected] or visit: http://www.chisummit.com |
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| Hotel Investment Conference - South Asia (HICSA) 2007 | Return to Headlines |
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The event will be held on April 4-5, 2007 in Grand Hyatt, Mumbai, India. The conference is valued for its networking opportunities and content-rich sessions. HICSA has become a "do not miss" event for all those who are looking to invest in South Asia. India calling... Are you ready? Notable Speakers:
To register for the event, contact: [email protected] or click here. HICSA Website | Agenda | Register Now | Sponsors | Accommodation | More Information |
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| Absolute Share Price Performance, as at 23 March 2007 |
Hotel Investment Conference - South Asia (HICSA) 2006 was an astounding
success! In just two years of it's existence, HICSA has become extremely
popular.