|Featured in this Asia Pacific Hospitality Newsletter - Week Ending 22 February 2008|
|HVS and BISU Host 4th China Hotel Investment Summit in April 2008||Return to Headlines|
HVS and Beijing International Studies University (BISU) will be co-hosting the China Hotel Investment Summit (CHIS) for the fourth time from 16 to 18 April 2008. The Summit will be organised jointly by HVS and Phoenix Consulting, and the event will be held at Grand Hyatt Shanghai.
The Summit will witness a gathering of hospitality captains, business leaders and hotel investors in China and around the world to discuss the latest hotel investment trends and market developments in Greater China and the rest of Asia. The theme of the 2008 Conference is 'Investing in the Fastest Growing Hotel Markets'.
The 4th China Hotel Investment Summit will provide in-depth insights to the vast opportunities for hospitality investments in the ever growing market in China and the galloping economies of Asian countries like Vietnam, Thailand, Korea and Japan. All these economies are in an upswing cycle which will provide a strong growth to the hotel real estate and tourism sectors.
The Summit has invited leading expert speakers and panellists, as well as organised social events to maximise networking opportunities. Please visit http://www.chinahotelsummit.com for registration and sponsorship information. For additional information, please contact:
|Taj Hotels To Open Asia's Largest Spa In Bandra, Mumbai||Return to Headlines|
|The Indian Hotels Company Limited (IHCL), the holding company of Taj Hotels has announced its plans to build a 2,787-square-metre Taj spa in Taj Lands End Hotel, located in Bandra, Mumbai. Scheduled to open in the second half of 2009, the spa is expected to be Asia's largest spa facility. The development of the spa is expected to cater to the changing dynamics of travelling and luxury in which demand for services related to beauty, health and fitness have increased. Currently, the Taj chain of hotels has 24 spas in cities such as Dubai and Goa.|
|InterContinental Hotels Group To Open Its 125th Hotel In China By End 2008||Return to Headlines|
|InterContinental Hotels Group (IHG) has unveiled its plans to launch the group's 125th hotel in China by the end of 2008. IHG is the international hotel group which manages most of the hotels in China, with 47% of all the hotel deals signed by international hotel operators belonging to IHG. Currently, IHG manages 107 hotels in China under the group's various brands, namely the InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express. IHG is also expected to be the largest international hotel group to offer the greatest number of rooms to meet demand during the 2008 Olympic Games in Beijing.|
|Ital-Thai Group To Open Second Hotel At Chaweng Beach, Koh Samui||Return to Headlines|
|Ital-Thai Group's hotel development and management arm, Amari Group, has announced plans to develop and manage the first Sirimaya by Amari resort on a 16,000-square-metre plot of land on Chaweng Beach, east coast of Koh Samui. The 110-room resort will be positioned higher than a four-star hotel but lower than a five-star hotel and is likely to target overseas honeymooners and upscale international tourists. The Sirimaya by Amari is the group's second property in Koh Samui after the 187-room Amari Palm Reef Resort which is expected to undergo renovation to build a fitness centre and expand its spa to six treatment rooms.|
|New Hotel Site Released For Development In Room-Scarce Singapore||Return to Headlines|
|The Urban Redevelopment Authority of Singapore made a 99-year leasehold site located in the Tanjong Pagar area available for tender. The site, which is located at the corner of Gopeng Street and Peck Seah Street, can be developed into a 30-storey hotel with 330 rooms. According to industry watchers, the 2,311-square-metre site with a plot ratio of 8.4 is expected to fetch a price in the range between US$500 to US$530 per square foot (psf) per plot ratio (ppr). Two hotel sites in the vicinity were sold for approximately US$400 in mid-2007. Another two sites in Upper Pickering Street and New Market Street/Merchant Road were sold for US$573 and US$542 psf ppr, respectively, in October 2007. It was reported that the development of several new office buildings, residences and hotels in the Tanjong Pagar area is likely to enhance the vibrancy and activities in the commercial district.|
|Malaysia Seeking To Attract More Backpackers||Return to Headlines|
The Tourism Ministry of Malaysia is planning to upgrade the facilities such as Internet connectivity of budget hotels such as Internet connectivity in its bid to attract backpackers into the country. The budget hotels are also encouraged to promote more adventure packages for this segment of travellers who are mostly young and tech-savvy. According to the Tourism Malaysia secretary general Datuk Dr Victor Wee, backpackers are likely to be an important tourist segment in the future and it is a segment which the authority is keen to develop.
|Absolute Share Price Performance, as at 22 February 2008|