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August 5, 2011 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
HVS Presents 1st Caribbean Hotel Investment Conference And Operations Summit (CHICOS)
New Oakwood Property Opens In Chengdu
Japan Tourism Decline Slowly Easing
Best Western Opens Hotel In Hong Kong
Fast Growth Of Medical Tourism In Asia
Marriott To Open Property In Osaka In 2014
Absolute Share Price Performance, As At 5 August 2011
 
HVS Presents 1st Caribbean Hotel Investment Conference And Operations Summit (CHICOS) Return to Headlines

Speakers include Four Seasons Hotels & Resorts, Hard Rock Hotels, The Blackstone Group and Cornell University Steve Rushmore, President and Founder of HVS, the leading global hospitality services and consulting firm, and HVS Bahamas Managing Director, Parris Jordan, are pleased to announce the 1st Caribbean Hotel Investment Conference and Operations Summit (CHICOS), that will focus on this region's hotel development and operations issues, as well as current financing initiatives. Scheduled for 10-11 November 2011 at the famed Atlantis Resort in Nassau, Bahamas, CHICOS is designed to bring global investors and operators together with local Caribbean decision-makers to address the opportunities and challenges faced in the region. CHICOS will provide opportunities to share views, insights, and proposed strategies for advancing the hospitality and tourism sectors in the Caribbean from 2011 and beyond.

"The Caribbean Island region offers investors complex but rewarding opportunities for hotel and resort development," states Rushmore. "And with HVS's global expertise combined with our local presence and knowledge of the Caribbean market and sub-markets, CHICOS 2011 will prove to be a landmark conference benefiting all interested in this region's lodging industry."

HVS and CHICOS will bring together high profile hospitality industry leaders who have not traditionally participated in conferences in the Caribbean region, including Hard Rock Hotels & Casinos, one of the sponsors of the event, and the Blackstone Group.

"HVS's efforts in the Caribbean are enthusiastically and professionally led by Jordan, who possesses nearly 20 years of operations, management and teaching experience," says Rushmore. Jordan, a native of Trinidad, adds, "We understand the need for regional workforce development, and we are committed to improving hospitality education and training in the Caribbean. We are also pleased to include Cornell University School of Hotel Management's Dean Steve Carvell as a speaker on the importance of education for our field and for this region."

The Caribbean has seen solid support from the Chinese government and also private Chinese firms over the past few years. Despite the global economic downturn a couple of years ago, the Caribbean received a healthy amount of investments from China, at approximately US$7 billion for 2009 alone. These investments include both tourism and non-tourism projects such as resorts, shipping ports, highways and sports stadiums. The region's growing tourism sector is of particular interest to the Chinese, with key investments including the 3,800-room Bahia Mar Resort in the Bahamas and the Montego Bay Convention Center in Jamaica. With the Chinese outbound travel market growing by 21% in 2010, there is a huge potential for China to be a new source market for the Caribbean.

For more information and registration, visit CHICOS at www.hvschicos.com

About HVS Bahamas
The Nassau, Bahamas-based office of HVS is responsible for hospitality consulting and valuation assignments in the Caribbean, the United States, Central America and Mexico. Jordan himself has performed hundreds of complex hotel consulting and valuation assignments in 20 states and 20 countries. His area of expertise includes hotel market and feasibility studies, appraisals, valuations, operator searches, target market and global expansion strategy development for prominent international hotel brands, and providing expert testimony in litigation and arbitration-related matters.

Jordan holds a Masters from New York University's Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management where he also lectures as an adjunct professor on lodging development. He is the recipient of the 2003 NYU Hotel Investment Conference Patron Scholar Award, and in 2009 he was honoured as the Alumnus of the Year by New York City Technical College. Jordan speaks at hotel and tourism conferences worldwide, and is quoted in hospitality business publications and newspapers including USA Today and Travel Weekly.

 
New Oakwood Property Opens In Chengdu Return to Headlines

Oakwood Asia Pacific has expanded its portfolio in China to five properties, with the opening of the 237-unit Oakwood Residence Funder Chengdu in Chengdu, Sichuan Province. The new property is located on the city's Renmin Road South and boasts 237 fully furnished serviced residences, and facilities and services such as a business centre, meeting rooms, fitness centre, indoor swimming pool, sauna, restaurant, bar and housekeeping, dry cleaning and laundry services. With the addition of Oakwood Residence Funder Chengdu, Oakwood now manages more than 1,000 serviced residence units in China and Hong Kong. Oakwood is set to open its second property in Guangzhou in early 2012.

 
Japan Tourism Decline Slowly Easing Return to Headlines

According to data from the Pacific Asia Travel Association (PATA), the decline in tourism arrivals to Japan is slowly easing. Latest data released from the PATA showed that international arrivals to Japan in June 2011 dropped 36% year-on-year, an improvement compared to 50% in May and 63% in April. Visitor arrivals from South Korea, a major source market to Japan, improved slightly, with a drop of 42% in June, compared to 58% in May. Latest data from the Japan National Tourism Organisation showed that the number of outbound Japanese travellers in June 2011 was down by less than 3% year-on-year, compared to the decrease of 8% in May. The PATA is expecting these positive signs of an upward momentum to continue in the months ahead.

 
Best Western Opens Hotel In Hong Kong Return to Headlines
Best Western International has announced the opening of a new property in Hong Kong. The 40-storey Best Western Hotel Causeway Bay is located in Causeway Bay, the centre of Hong Kong Island, and is situated next to the Times Square Shopping Centre. The 258-key property is conveniently located near Wanchai, the Central Business District and the Causeway Bay MTR Subway Station. The hotel rooms have taken on a modern chic design and facilities in the hotel include a gourmet room, wine lounge, fitness centre and swimming pool.
 
Fast Growth Of Medical Tourism In Asia Return to Headlines
Market researchers have forecast a significant short-term growth in medical tourism in Asia. 'Asian Medical Tourism Analysis (2008-2012)', a report by the Bharat Book Bureau, has forecast that the industry will grow by 20% between 2010 and 2013. Medical tourism in Asia has been growing at double-digit rates in recent years, making it one of the fastest growing segments of the tourism industry in the region. In the past ten years, Asian countries have been investing heavily in their healthcare infrastructure in order to meet foreign demand for high quality medical care. The region's medical tourism industry is largely dominated by Singapore, Thailand and India, with a reported combined market share of over 89% in 2010. India however, is expected to be the leading medical tourism destination, accounting for approximately 38% of the Asian medical tourism industry by 2013.
 
Marriott To Open Property In Osaka In 2014 Return to Headlines
The Osaka Marriott Miyako Hotel, a partnership between Marriott International and Kintetsu Hotel Systems, which manages Miyako Hotels & Resorts, is scheduled to open in the spring of 2014. The hotel will occupy the 38th to 55th floors of a 60-storey mixed-use building, which at a height of 300 metres, is expected to be the tallest building in the country. The complex will house a department store, offices, galleries, museums and an observatory, and will serve as a new cultural and tourism centre for the Abeno area, which is located in the southern part of Osaka city. The 376-key luxury property will feature a reception lounge on the 19th floor, meeting space on the 20th floor and the highest fine dining restaurant in the city on the 57th floor.
 
Absolute Share Price Performance, as at 5 August 2011
 
Closing Share Price as at 5 August 2011 29 July 2011 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited 5.85 6.01 -3%
General Property Group 2.83 3.01 -6%
Mirvac Group 1.06 1.15 -8%
Ocean Capital Limited 0.16 0.17 -6%
Thakral Holdings Group 0.49 0.55 -11%
Living and Leisure Australia Group 0.021 0.022 -5%
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 11.40 10.30 11%
Dusit Thani Public Co Ltd 36.00 36.75 -2%
The Erawan Group Public Co Ltd 2.86 2.98 -4%
Grande Asset Hotels and Property Public Co Ltd 1.80 1.93 -7%
Laguna Resorts & Hotel Public Co Ltd 57.00 58.00 -2%
Minor International Public Co Ltd 12.30 13.40 -8%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 17.85 18.32 -3%
Beijing Capital Tourism Co Ltd 16.79 17.25 -3%
Jinling Hotel Corporation Ltd 9.16 9.09 1%
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 5.56 5.83 -5%
Guangzhou Dong Fang Hotel Co Ltd 10.20 10.20 -
Shenzhen Century Plaza Hotel Co Ltd 6.89 7.27 -5%
NASDAQ (US$)
Home Inns & Hotels Management Inc 35.86 38.54 -7%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 9.21 9.70 -5%
Regal Hotels International Holdings Ltd 2.95 3.16 -7%
Sino Hotels Holdings Ltd 2.60 2.65 -2%
The Hong Kong & Shanghai Hotels Ltd 11.84 12.32 -4%
Shangri-La Asia Limited 19.26 20.10 -4%
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 76.25 76.00 -
EIH (Oberoi Hotels & Resorts) 87.40 96.40 -9%
Hotel Leela Ventures 42.50 45.90 -7%
Korea Exchange (KRW)
The Shilla 30,600 30,700 -
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.34 0.37 -8%
Ascott Residence Trust 1.13 1.18 -4%
Banyan Tree Holdings Limited 0.81 0.88 -8%
CDL HTrust 1.96 2.08 -6%
Hotel Grand Central Ltd 0.75 0.78 -4%
Hotel Properties Ltd 2.21 2.32 -5%
Mandarin Oriental International Ltd (US$) 1.85 2.10 -12%
Pan Pacific Hotels Group Limited 1.88 1.94 -3%
Stamford Land Corporation Ltd 0.56 0.63 -11%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 457 484 -6%
The Ambassador Hotel, Ltd 37.80 40.30 -6%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation 230,900 239,000 -3%
Japan Hotel and Resort Inc 178,000 181,900 -2%
Imperial Hotel, Ltd 1,905 1,953 -2%
 
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HVS Beijing
Michelle Hui
HVS Hong Kong
Mark Keith & Daniel Voellm
HVS Mumbai
Manav Thadani
     
HVS New Delhi
Manav Thadani
HVS Shanghai
Adeline Phua
HVS Singapore
David Ling
 
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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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