|Featured in this Asia Pacific Hospitality Newsletter - Week Ending 29 February 2008|
|Recruitment For HVS Beijing Operations||Return to Headlines|
HVS is a global hospitality consulting, valuation and investment services firm with 27 offices worldwide.
According to David Ling, Managing Director of HVS East Asia, "China is among the fastest growing hospitality markets in the world. As capital of the most populous country, Beijing is of strategic importance to both China and regionally. Key policies and decisions made at Central Governmental levels affect not only the rest of the country but also foreign investments into the People's Republic of China. Being a forward business entity, HVS is enhancing its presence in the Capital, in tandem with its network of offices in Shanghai, Hong Kong and Singapore".
HVS Global Hospitality Services is recruiting suitable candidates to enhance its practice in Beijing. Positions available include the following:
Should you have an interest in a career opportunity with HVS, please send your resume and cover letter in confidence directly to firstname.lastname@example.org. For further information about HVS, please visit www.hvs.com.
|Straits Trading Company Limited Acquires Emerald Hotel Perth For US$23.4 Million||Return to Headlines|
|Singapore-based Straits Trading Company Limited's wholly owned subsidiary, Rendezvous Hotels Management Pty Ltd, has announced the acquisition of the 101-room Emerald Hotel Perth for approximately US$23.4 million. Located along Mount Street near St Georges Terrace in Perth's Central Business District, the Best Western managed hotel is expected to undergo a major refurbishment and will operate under the Rendezvous Hotels and Resorts International Group as part of The Marque Collection of Hotels. The Emerald Hotel Perth is the second major hotel transaction in Perth following the sale of the 84-room Chifley Hotel for US$24.7 million to another Singaporean investor. According to the Australian Bureau of Statistics (ABS), figures showed that Perth hotels achieved the highest occupancy rates in Australia and registered the strongest RevPAR growth of 23% in 2007.|
|Singapore's Banyan Tree Announces First Closing Of Its Indochina Fund||Return to Headlines|
|Banyan Tree Holdings has unveiled the first closing of its Indochina real estate development fund, the Banyan Tree Indochina Hospitality Fund (BTIHF), with HSIL Investments and a feeder fund of Nan Fang Group, with all three parties committing a total of US$100 million. Banyan Tree Indochina (GP) Co Limited, a wholly owned subsidiary of Banyan Tree Holdings and the general partner of the fund, and the two above mentioned parties are likely to commit a further US$50 million which will bring the total funds to a cap of US$50 million each. The BTIHF, which was established on 29 January 2008, is seeking a targeted US$300 million to US$400 million. This fund will invest primarily in the Laguna Vietnam project in Vietnam's Chan May-Lang Co Economic Zone and other projects which are yet to be identified.|
|Blackstone Bids For Japan's Chisun Hotel Group||Return to Headlines|
|Blackstone Group (Blackstone), currently the world's largest investment fund, has entered the race to acquire Japan's Chisun Hotel Group (Chisun). Chisun, which is owned by American investment firm Lone Star, has been in the market since December 2007. It was reported that entities such as Aetos Capital LLC and KK DaVinci Advisors have also been shortlisted by Lone Star as potential buyers of Chisun, which is expected to fetch between US$1.4 billion and US$1.9 billion. Presently, Lone Star's Solare Hotels and Resorts Co.manages approximately 50 hotels, from low-priced inns to resorts, totalling 10,000 rooms across Japan.|
|Parsvnath To Develop Ten Hotels With Royal Orchid In India||Return to Headlines|
|India's Parsvnath Developers (Parsvnath) has announced a joint venture with Bangalore-based Royal Orchid Hotels (Royal Orchid) to develop ten hotels in India with an investment of US$124 million by 2013. Parsvnath Royal Orchid Hotels, which Parsvnath will hold a majority share of 70%, is expected to build 1,000 rooms across India including four five-star and four-star hotels each with the remaining being three-star hotels, resorts and serviced apartments. At present, Parsvnath has approximately 210 million square feet of developable area and presence in 17 states across India while Royal Orchid has hotels in Bangalore, Mysore, Pune, Jaipur and Hyderabad and has also ventured into Tanzania.|
|Sterling Line-Up Of Speakers At 4th China Hotel Investment Summit||Return to Headlines|
A highly qualified selection of hotel industry leaders and hospitality real estate practitioners will be gathering at the 4th China Hotel Investment Summit to discuss the latest hotel investment trends and market developments in Greater China and the rest of Asia. The Summit is co-hosted by HVS and Beijing International Studies University (BISU) and jointly organised by HVS and Phoenix Consulting. The event will be held at the Grand Hyatt Shanghai from 16 to 18 April 2008.
The opening plenary offers a holistic view of the fastest hotel growth markets in the region. Sharing their wealth of knowledge to this topic is a panel of global hotel industry stalwarts including Ed Fuller, President and Managing Director of Marriott International; Horst Schulze, President and CEO of West Paces Hotel Group; Steven Rudnitsky, President and CEO of Wyndham Hotel Group. This session is moderated by hospitality real estate veteran, Richard Johnson, CEO of Standard Chartered-Istithmar Real Estate Fund Management.
The 4th China Hotel Investment Summit is the most established and successful hotel investment conference in China, attended by over 600 industry leaders from China and 22 other countries. Please visit www.chinahotelsummit.com for registration and sponsorship information. For additional information, please contact::
|Absolute Share Price Performance, as at 29 February 2008|