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Featured in this Asia Pacific Hospitality Newsletter - Week Ending 13 March 2009
Minor International Delays Two Anantara Resort Projects
Kuala Lumpur Low Cost Carrier Terminal To Be Completed By 2011
Peninsula Hotels Reported Better-Than-Expected Earnings
Melco Receives US$36.6 Million Loan From CCB
Singapore Ranked Top Asian Nation In Tourism And Travel
China Hotel Investment Summit 2009 Awards
Absolute Share Price Performance, As At 13 March 2009
Minor International Delays Two Anantara Resort Projects Return to Headlines
Minor International has announced plans to put on hold two hotel projects in Thailand, namely the Anantara Resorts in Bangkok and Khao Lak which are scheduled to open in 2011 and 2012, respectively. The decision to delay the two projects was made following the decline in the group's occupancy from 85% in 2008 to 60% in the beginning of 2009, as a result of the global economic crisis. With the halt of these two projects, the group's hotel operations are expected to register flat growth in revenue of approximately US$191 million. Minor International is expected to launch more promotions and campaigns aimed at domestic travellers and short-haul markets such as Singapore, Taiwan and Hong Kong. In addition, the group is also reconsidering its overseas expansion plans but will continue with its hotel management contracts and ongoing development projects, including the St Regis Hotel in Bangkok.
Kuala Lumpur Low Cost Carrier Terminal To Be Completed By 2011 Return to Headlines
According to Malaysia Airport Holdings Berhad (MAHB), Kuala Lumpur's Low Cost Carrier Terminal (LCCT) is scheduled for completion by the second half of 2011. Located nearby the main terminal, Kuala Lumpur International Airport (KLIA), in Sepang, the new LCCT is expected to handle 30 million passengers a year compared to the current 15 million passengers. Plans to build the new LCCT by MAHB were in place after the Malaysian government rejected AirAsia Berhad's initial plan to build a US$436 million LCCT in Labu, Negri Sembilan.
Peninsula Hotels Reported Better-Than-Expected Earnings Return to Headlines
The Peninsula hotels, owned by Hong Kong and Shanghai Hotels Limited (HSH), recorded approximately US$126 million in profit before non-operating items in 2008, reflecting a better-than-expected 10% decline as compared to 2007. HSH, which owns eight Peninsula hotels and a golf course resort worldwide, reported US$28 million in net profit as revenue rose by 9% to US$637 million due to higher room rates and rental income. Its flagship property, The Peninsula Hong Kong, recorded an average room rate of US$528 and occupancy of 71% in 2008.
Melco Receives US$36.6 Million Loan From CCB Return to Headlines
Melco China Resorts (Melco) has announced that it has entered into a loan agreement with the China Construction Bank (CCB) for a principal amount of approximately US$36.6 million. The loan, which has a term of seven years, will be repaid from 2011 at a base lending rate to be determined by The People's Bank of China plus 5% per annum. The loan will be used by Melco to continue the operation and development of its two resorts in northeast China: the Sun Mountain Yabuli in Heilongjiang Province and the Sky Mountain Beidahu in Jilin Province.
Singapore Ranked Top Asian Nation In Tourism And Travel Return to Headlines
Based on the third annual Travel and Tourism Competitiveness Report, Singapore was ranked as the top Asian country, coming in tenth among a total of 133 countries. According to the report, Singapore's travel and tourism industry contributed approximately 2.3% of the nation's gross domestic product and the annual growth forecast between 2009 and 2018 averages 1.6%. In addition, the report identified Singapore's strength in policy rules and regulations, ground transport infrastructure, prioritisation of travel and tourism, and human resources. However, Singapore is noted to be at a competitive disadvantage in terms of environmental sustainability, price competitiveness, cultural resources and natural resources.
China Hotel Investment Summit 2009 Awards Return to Headlines
The China Hotel Investment Summit (CHIS) is one of the first international hotel conferences to celebrate eco-friendly hotel developments by inaugurating the CHIS Eco-lodging Award. This new award will add on to the other three established awards - Lifetime Achievement Award, Hotelier of the Year Award and International Hospitality Excellence Award.

Lifetime Achievement Award
The CHIS Lifetime Achievement Award is presented to an outstanding individual to honour a lifetime of achievement and contribution to the hospitality industry. The recipient is recognised for his or her accomplishments and efforts for the betterment of the industry. The recipient should embody and exemplify the true spirit of hospitality.

Hotelier of the Year Award
The CHIS Hotelier of the Year Award is presented to an outstanding individual, namely a leader who has made significant contributions to the hospitality industry in China. The recipient should exemplify the spirit of a true hotelier, and have achieved significant milestones to enhance the image and professionalism of the industry.

International Hospitality Excellence Award
The CHIS International Hospitality Excellence Award seeks to recognise a leading organisation that is committed to the advancement of the industry and has consistently delivered best practices in the service industry. The recipient should have an international presence and demonstrated commitment towards excellence.

Eco-lodging Award (NEW)
The CHIS Eco-lodging Award seeks to recognise an owner and/or developer of an existing green hotel or recently completed green hotel project. The subject property or project of the recipient should have made or been designed to make significant contributions to the preservation of the natural environment, increased public awareness of environmental issues and sustainable development in the hospitality industry.

The nomination and selection process for all awards has commenced, and the winners of these prestigious awards will be announced during CHIS, from 22 to 24 April 2009.

For more information and queries, please contact:

Adeline Phua
Tel: +65 62934415 Ext 17
Fax: +65 62935426
Email: aphua@hvs.com or chis@chinahotelsummit.com
Absolute Share Price Performance, as at 13 March 2009
Closing Share Price as at 13 March 2009 6 March 2009 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings 4.10 4.24 -3%
General Property Group 0.38 0.25 52%
Mirvac Group 0.79 0.72 10%
Ocean Capital Limited 0.30 0.30
Thakral Holdings Group 0.29 0.30 -3%
Living and Leisure Australia Group 0.02 0.01
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 3.04 3.08 -1%
Dusit Thani Public Co Ltd 20.00 19.90 1%
The Erawan Group Public Limited 1.26 1.29 -2%
Grande Asset Development 1.60 1.60
Laguna Resorts & Hotel Public Co Ltd 23.60 23.80 -1%
Minor International PCL 6.35 6.40 -1%
Hong Kong Stock Exchange (HK$)
Miramar Hotel International Ltd 5.00 5.01
Regal Hotels International Holdings Ltd 1.39 1.41 -1%
Sino Hotels Holdings Ltd 2.60 2.60
The Hong Kong & Shanghai Hotels Ltd 4.60 4.60
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.22 0.20 10%
ART Management Pte Ltd 0.36 0.36
Banyan Tree Holdings Limited 0.32 0.37 -14%
CDL HTrust 0.43 0.45 -4%
Hotel Grand Central Ltd 0.50 0.50
Hotel Plaza Ltd 0.93 0.99 -6%
Hotel Properties Ltd 0.82 0.87 -6%
Mandarin Oriental International Ltd (US$) 0.70 0.69 -1%
Shangri-La Asia Ltd 7.62 8.38 -9%
Stamford Land 0.19 0.19
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Disclaimer: Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information, please feel free to contact HVS Singapore.
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