| HVS and BISU Host 4th China Hotel Investment Summit in April 2008 | Return to Headlines |
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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: Andrew Lee |
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| Queenco Leisure International Limited To Develop Resort and Casino in Sihanoukville, Cambodia | Return to Headlines |
| Casino builder and operator, Queenco Leisure International Limited (QLI), has announced plans to develop a beachfront resort centred on a casino, including hotels and conference centres in Sihanoukville, Cambodia. QLI had recently purchased an additional 22.5-acre land parcel for US$10 million following an earlier acquisition of 120 acres of land in Sihanoukville, a coastal area in southwest Cambodia. QLI has also obtained exclusive rights from the Cambodian government to use the stretch of the beach directly in front of the acquired site. The expansion of the Sihanoukville‘s airport and the developing Cambodian economy are expected to transform the area into a potential tourist destination. | |
| India's Parsvnath Developers Limited To Develop 50 Hotels In India | Return to Headlines |
| India's Parsvnath Developers Limited (Parsvnath) has signed an agreement with conglomerate ITC's Fortune Park Hotels, to manage 50 hotels comprising 4,100 rooms for Parsvnath Hotels Limited, a subsidiary of Parsvnath. Parsvnath Hotels is expected to invest approximately US$636 million to develop and own these 50 hotels in India, which will comprise 20 five-star hotels, 20 four-star hotels and 10 three-star and budget hotels between 2011 and 2013. The hotels will come under the brands of Fortune Select which is likely to have at least 100 rooms, Fortune Park which is expected to have 75 or more rooms, and other brands like Fortune Inn and Fortune Faith which are likely to have at least 50 rooms or more. Parsvnath plans to eventually develop 75 to 100 hotels across India, especially in the second and third tier cities, as well as other major cities of the country. | |
| India's DB Realty To Open Hyatt Goa In 2009 | Return to Headlines |
| India's DB Realty has announced plans to develop a 320-guestroom five-star hotel, Hyatt Goa, in Goa, India. Scheduled to complete by the second quarter of 2009, the project is expected to be worth approximately US$80 million. The opening of Hyatt Goa is expected to alleviate the accommodation supply shortage in Goa which requires more than 110,000 hotel rooms by 2016, according to the Goa Chamber of Housing Association (GCHA). Currently, Goa has 45,000 beds across 100 classified hotels. It is expected that 35,000 additional beds, 15,000 in the star category and 20,000 in the non-star category are required by 2010. Average occupancy in Goa registered 61% in recent years, while average room rate recorded a 15% growth annually. | |
| Khao Lak's Ecotourism Challenged | Return to Headlines |
| Hoteliers and entrepreneurs in Khao Lak, Thailand, have expressed concern at the growing number of illegal vendors, which includes food stalls, beach masseurs and entertainment houses, along the beach. These vendors, which sprouted up following Khao Lak's recovery from the 2004 tsunami, are reportedly affecting the attractiveness of the pristine beach due to their lack of proper sanitation and water treatment facilities. Businesses, which pay rent and taxes for commercial activities, are also undercut by these illegal activities. It is feared that Khao Lak, which attracts families and nature lovers, will evolve to be similar to Phuket's Patong Beach and erode its attractiveness. Currently, Khao Lak has approximately 70 hotels with 4,000 rooms and welcomed 1.8 million visitors in 2007. | |
| Centara Expands Into Trat, Thailand | Return to Headlines |
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Centara Hotels and Resorts (‘Centara') has announced its signing of the management contract for the 44-room Centara Chaan Talay Resort and Villa Trat in Trat, off the east coast of Thailand. The resort, which is owned by P-A Trat Co Ltd and is expected to open in March 2008, is likely to feature eight suites with an outdoor Jacuzzi, a meditation hall for yoga and a Centara signature Spa Cenvaree among its extensive facilities. Set along a white sand beach amidst pristine nature, the resort is accessible either by a one-hour plane ride or four hours' drive from Bangkok. |
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| Absolute Share Price Performance, as at 8 February 2008 |
