|Featured in this Asia Pacific Hospitality Newsletter - Week Ending 16 May 2008|
|Cebu University To Build Hotel School||Return to Headlines|
The University of San Carlos (USC) in Cebu City, the Philippines, has announced its plans to open a hotel school to produce graduates for Cebu's growing tourism industry. The hotel school is expected to be a 50-room four-star hotel donated by Network of Independent Travel Agencies (NITAS). The facility is likely to contribute additional revenues for USC and enable the students to have hands-on experience. In addition, the hotel school will employ hotel industry practitioners such as from Cebu City Marriott Hotel to conduct hotel-related courses and talks to equip students with the right skills.
|Accor To Add 12 New Hotels In Thailand||Return to Headlines|
|Accor Asia Pacific (Accor) targets to launch a new hotel brand, MGallery, in Thailand by 2008 as part of its plans to add 12 hotels in the country by 2010. In the first quarter of 2008, Accor opened the economy hotel, All Seasons, on Sathon Road, Bangkok, and a mid-scale Mercure in Patong, Phuket. Accor also rebranded its Sofitel Khon Kaen in Khon Kaen as Pullman Khon Kaen, which is expected to launch by the third quarter of 2008. The upscale Grand Sukhumvit by Sofitel is expected to open in Bangkok by the end of 2008. In addition, Accor aims to add four economy hotels under the Ibis brand by 2009, including one which is opened in Patong in May 2008 and the rest in Bangkok, Pattaya and Samui. The group plans to increase its rooms in Thailand to more than 10,000 rooms from the current 9,338 rooms by 2010.|
|India's Phoenix Mills To Invest US$188 Million To Develop A Five-Star Hotel And Luxury Retail Store In Mumbai, India||Return to Headlines|
|India's Phoenix Mills has announced its plans to invest US$188 million to develop a five-star business and leisure hotel, Shangri-La, Mumbai, and a luxury retail store, the Palladium, in Mumbai, India. According to Phoenix Mills, investment in Shangri-La, Mumbai and Palladium is approximately US$141 million and US$47 million, respectively. Scheduled to open in March 2009, the approximately 18,580-square-metre Palladium is expected to be situated within the hotel and house luxury brands. Additionally, Phoenix Mills is also developing seven five-star hotels in six Indian cities including Pune, Bangalore and Chennai.|
|Shangri-La Kuala Lumpur Likely To Undergo Facelift||Return to Headlines|
|Shangri-La Hotels (Malaysia) Berhad (SHMB) is expected to spend approximately US$31 million to retrofit all the guestrooms at Shangri-La Hotel Kuala Lumpur by the end of 2008. Since 2003, more than US$40 million has been spent to uplift the 23-year-old hotel. In 2007, the Shangri-La Hotel Kuala Lumpur recorded US$50 million in revenue with occupancy of 70%, a decline from US$54 million in sales and 80% occupancy in 2006. In 2008, market sources are projecting more than 10% growth in the group's revenue, largely attributed to higher room sales at its Sabah and Penang properties including Rasa Sayang Resort and Spa, Golden Sands Resort, Traders Hotel in Penang and Rasa Ria Resort and Tanjung Aru Resort in Kota Kinabalu, Sabah.|
|Landmark Group To Invest Over US$938 Million In North India||Return to Headlines|
|India's Landmark Group, which is developing 12 properties including three hotels, has announced plans to invest over US$938 million in north India by 2011 or 2012. The hotel developments, which total approximately US$164 million, include a 3000-room five-star hotel in Dharuhera, a 120-room budget hotel in Gurgaon and another five-star hotel at Bawal in Haryana. The company is likely to raise the funds through internal accruals and private equities. Currently, Landmark Group is also formulating plans to develop two more hotels within the next few years.|
|Walhi Objects To New Hotels And Villas In Bali, Indonesia||Return to Headlines|
The Indonesian Forum for the Environment, Walhi, has protested against plans to build the new hotels in Tabanan and Karangasem districts and villas in Badung District in Bali, Indonesia. According to Walhi, it was feared that these projects may create an adverse impact on the environment and local people's social order. Under Law No. 23/1997 on the Environment Management and Bylaw No. 4/2005 on Pollution Control and Environmental Destruction, every Indonesian is entitled to obtain correct information and participate in environmental management.
|Absolute Share Price Performance, as at 16 May 2008|