| Rise Of International Luxury Hotels In Tokyo, Japan | Return to Headlines |
| Tokyo, Japan in recent years has witnessed a surge in international luxury hotels largely due to the deregulation which allows real estate developers to build bigger office buildings if hotels, recreational or residential components are attached to the development. New hotel openings include Ritz-Carlton Tokyo and the Peninsula which were opened in March and September 2007, respectively, while Shangri-La Hotel is scheduled to be opened in 2009. Key attractions of these internationally branded hotels are their spacious rooms which cost at least approximately US$512 a night. Competition from these foreign hotels is expected to provide more choices for the consumers, as well as raise the overall quality of Tokyo hotels even as domestic luxury hotels like the Hotel Okura Tokyo, Hotel New Otani and the Imperial Hotel plan to undergo refurbishment to stay competitive. | |
| Dusit Hotels And Resorts To Open D2hotels In Pattaya And Koh Samui, Thailand | Return to Headlines |
| Dusit Hotels and Resorts has announced the development of two hotels in Pattaya and Koh Samui under its extension brand, following the successful opening of the first D2hotel in Chiang Mai in 2005. Characterised by its modernistic Thai concept with a mix of innovative design, the D2 brand attracts the younger Thai and global travellers. Scheduled to open in October 2008, the 72-room dusitD2 Baraquda Pattaya will offer five food and beverage outlets including an Indochinese restaurant, two meeting rooms, a pool, a spa and fitness centre and other facilities. Located on Choengmon Beach, the dusitD2 Samui is expected to open in August 2009 with 60 water villas, two food and beverage outlets, meeting facilities, a pool, a spa facility and fitness centre. | |
| Mövenpick Hotels And Resorts To Open Second Resort In Pattaya, Thailand | Return to Headlines |
| Mövenpick Hotels and Resorts has announced the signing of a management agreement with Apex Development Public Company Limited (APEX) to manage the five-star Mövenpick Resort and Spa Pattaya, as an integral part of a mixed-use development project in Pattaya, Thailand. Scheduled to open by end of 2010, the 300-room resort is located an hour's drive from Bangkok International Airport and five minutes' drive from Pattaya's city centre. The Phoenix Golf and Country Club is also within the resort's vicinity. Upon completion, the resort is expected to offer three food and beverage outlets, including the signature Mövenpick buffets, an entertainment centre, 1,500 square metres of conference and meeting space, a pool, spa and wellness facilities, a fitness centre, tennis courts, water sports facilities and a Kids' Club. | |
| Australia's Publishing And Broadcasting Limited To Build New Hotel In Melbourne | Return to Headlines |
| Publishing and Broadcasting Ltd (PBL), together with its subsidiary, Crown Melbourne, has announced its plans to build the biggest hotel in Australia at its Crown Entertainment Complex in Melbourne. The US$269 million proposed hotel will be the third hotel in Crown Entertainment Complex and will be in close proximity to the Melbourne Exhibition Centre, facing Clarendon Street. Once planning and building approvals are obtained, construction is expected to commence in October 2007 and upon completion in May 2010, the 658-room hotel is likely to attract the international Leisure and MICE markets. Crown Melbourne also has plans to refurbish its present 482-room Crown Towers Hotel for US$58.3 million and its main gaming floor for US$89.7 million. | |
| Australia's Valad Property Group Buys Sheraton Noosa For US$84 Million | Return to Headlines |
| Australia's listed group, Valad Property Group Ltd (VPG) has announced its acquisition of the 175-room Sheraton Noosa Resort and Spa along Hastings Street, St Noosa Heads, Queensland, for US$84 million. The five-star hotel, currently part of the Starwood Hotels and Resorts Group, will come under Valad Funds Management Limited's balance sheet for a potential selldown to a Valad managed fund. Sheraton has three and a half years remaining on its current management agreement and a further five-year option, potentially extending the tenancy until 2015. With this acquisition, the 9,946-square- metre property site consisting of 175 guestrooms and villas, 175 undercover carpark lots, a central swimming pool, two private boat jetties and 1,181 square metres of net retail space will allow VPG to gain a foothold in the hotel sector. | |
| US$19.8 Million Holiday Inn Opens In Malacca | Return to Headlines |
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The Holiday Inn Malacca has officially opened at Bandar Hilir, Malacca, Malaysia. The 20-storey, US$19.8 million hotel is Malacca's first new international hotel in over ten years and is in close proximity to the city's historic attractions such as the The Stadhuys, St Peter's Church and Jonker Street. The four-star hotel offers 275 guestrooms including four floors of executive club rooms, ten suites and a presidential suite, and an excellent view of the Straits of Malacca. With the entry of InterContinental Hotel Group in the market, it is hoped that Malacca's Corporate and Leisure market will strengthen and help raise the profile of tourism in the city. |
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| Absolute Share Price Performance, as at 5 October 2007 |
