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September 23, 2011 Sign up to automatically receive HVS mailings
Featured in this Asia Pacific Hospitality Newsletter
South Korea To Develop 'Health Town'
Jetstar Launches Singapore-Ningbo Route
Aloft Surpasses 50-Hotel Mark
Best Western To Expand Presence In Vietnam
Shangri-La To Open Property In Changsha
Absolute Share Price Performance, As At 23 September 2011
South Korea To Develop 'Health Town' Return to Headlines

South Korean authorities are planning on attracting over 300,000 overseas patients by 2015, by developing a medical city as part of its efforts to compete in the international medical tourism field. A budget of US$830 million has been set aside for the development of the Jeju Healthcare Town, which is anticipated to become a North Asian medical hub. The South Korean government intends to use this medical city to compete with market leaders India, Malaysia, Singapore and Thailand. The medical city will consist of three areas - the Wellness Park featuring various health improvement and relaxation services, the Medical Park providing high-quality specialised treatment services and the R&D Park, which will be a medical research and development complex. According to the Korea Tourism Organisation, the number of medical tourists seeking treatment in South Korea has doubled between 2008 and 2009, and in 2010, there were 81,789 medical tourists, an increase of 36% from 2009.

Jetstar Launches Singapore-Ningbo Route Return to Headlines

Low-cost carrier Jetstar has launched a new route from Singapore to Ningbo in eastern China's Zhejiang Province, making it the pioneer airline to offer a direct flight connection between the two cities. All services between Singapore and Ningbo will be made on an Airbus A320 aircraft. The flights will initially operate three times a week, before increasing to four flights a week by November 2011. With the addition of the Ningbo service, Jetstar now operates close to 100 weekly flights from Singapore to eight destinations in Greater China, including Guilin, Haikou, Hong Kong, Hangzhou, Macau, Shantou and Taipei. Jetstar will also commence services between Beijing and Singapore from November this year, with connections going on to Melbourne.

Aloft Surpasses 50-Hotel Mark Return to Headlines

With the recent opening of four Aloft hotels, Starwood Hotels & Resorts Worldwide has announced that the Aloft brand has surpassed their 50th hotel milestone. Three of the recent openings were in Asia Pacific, namely the Aloft Zhengzhou Shangjia and Aloft Haiyang in China, and the Aloft Coimbatore Singanallur in India. By 2013, Starwood expects to increase its global portfolio of Aloft hotels to more than 70.

Currently, 12 out of 27 hotels in Aloft's development pipeline are located in Asia Pacific and by the end of 2013, Aloft would have opened an additional six properties in China, in the cities of Yancheng, Haiyang and Guangzhou. With the opening of the Aloft in Chandigarh by the end of this year, Aloft will have a total of four properties in India including Aloft brand hotels in Bangalore, Chennai and Coimbatore, with an additional property in Ahmedabad slated to open by 2012.

Best Western To Expand Presence In Vietnam Return to Headlines
Best Western International is set to expand its presence in Vietnam with the opening of the Best Western Premier Indochine Palace in Hue, Vietnam. Due to open in the fourth quarter of 2011, the Best Western Premier will be set within lush gardens with opportunities for archery, croquet and badminton on its premises. The hotel will be located in the centre of the city and 20 minutes away from the Phu Bai International Airport. The 222-key property will feature guestrooms centred on the subdued elegance of an Indochine noble house, with guestrooms on the Palace Floors and Celadon Floors featuring luxury lounges accompanied by butlers. The hotel's facilities will include a swimming pool, sundeck with cabana day rooms, three food and beverage outlets, spa and gymnasium and conference facilities.
Shangri-La To Open Property In Changsha Return to Headlines
Shangri-La Asia is set to open a new hotel in Changsha, in central China's Hunan Province, in 2015. The 460-key property will be operated by Hong Kong-based Shangri-La Hotels and Resorts as part of an agreement with Huayuan Real Estate Beijing. The Shangri-La Hotel Changsha will be located in the city's Tianxin District, within walking distance from the city's main financial and commercial area, and 30 minutes from the airport. The new property will be part of a mixed-use development, Central, that will include an office tower, a shopping mall, exhibition centre and seven residential buildings, with the hotel occupying the top 20 floors of the 268-metre-high building. The Shangri-La Hotel Changsha will feature six food and beverage outlets, indoor swimming pool, spa and health club and meeting and banqueting facilities with a grand ballroom spanning 2,000 square metres. Shangri-La Hotels and Resorts currently owns and manages 72 hotels under the Shangri-La, Kerry and Traders brands, with a room inventory of over 30,000 rooms.
Absolute Share Price Performance, as at 23 September 2011
Closing Share Price as at 23 September 2011 16 September 2011 % Change
Australia Stock Exchange (ASX)
Amalgamated Holdings Limited 5.46 5.43 1%
General Property Group 3.11 3.19 -3%
Mirvac Group 1.10 1.17 -6%
Ocean Capital Limited 0.14 0.16 -10%
Thakral Holdings Group 0.52 0.51 2%
Living and Leisure Australia Group 0.019 0.019 -
Bangkok Stock Exchange (THB)
Central Plaza Hotel Public Co Ltd 8.45 9.15 -8%
Dusit Thani Public Co Ltd 36.00 36.50 -1%
The Erawan Group Public Co Ltd 2.32 2.54 -9%
Grande Asset Hotels and Property Public Co Ltd 1.23 1.60 -23%
Laguna Resorts & Hotel Public Co Ltd 49.25 52.00 -5%
Minor International Public Co Ltd 10.60 12.20 -13%
China Shanghai Stock Exchange (RMB)
Shanghai Jinjiang International Hotels Development 18.80 18.90 -1%
Beijing Capital Tourism Co Ltd 17.62 17.52 1%
Jinling Hotel Corporation Ltd 8.55 8.59 -
China Shenzhen Stock Exchange (RMB)
Hunan Huatian Great Hotel Co Ltd 5.61 5.82 -4%
Guangzhou Dong Fang Hotel Co Ltd 10.20 10.20 -
Shenzhen Century Plaza Hotel Co Ltd 6.05 6.26 -3%
Home Inns & Hotels Management Inc 33.73 36.39 -7%
Hong Kong Stock Exchange (HK$)
Miramar Hotel & Investment Co Ltd 8.36 9.15 -9%
Regal Hotels International Holdings Ltd 2.22 2.57 -14%
Sino Hotels Holdings Ltd 2.56 2.56 -
The Hong Kong & Shanghai Hotels Ltd 11.30 11.26 -
Shangri-La Asia Limited 14.38 15.26 -6%
Bombay Stock Exchange (INR)
IHCL (Taj Hotels, Resorts & Palaces) 69.90 72.00 -3%
EIH (Oberoi Hotels & Resorts) 84.55 89.50 -6%
Hotel Leela Ventures 36.05 37.40 -4%
Korea Exchange (KRW)
The Shilla 33,850 32,500 4%
Singapore Stock Exchange (S$)
Amara Holdings Ltd 0.29 0.32 -9%
Ascott Residence Trust 1.04 1.08 -4%
Banyan Tree Holdings Limited 0.61 0.69 -12%
CDL HTrust 1.62 1.71 -5%
Hotel Grand Central Ltd 0.68 0.70 -3%
Hotel Properties Ltd 2.01 2.04 -1%
Mandarin Oriental International Ltd (US$) 1.40 1.56 -10%
Pan Pacific Hotels Group Limited 1.97 1.95 1%
Stamford Land Corporation Ltd 0.49 0.51 -4%
Taiwan Stock Exchange (NT$)
Formosa International Hotels Corporation 417 431 -3%
The Ambassador Hotel, Ltd 33.90 34.60 -2%
Tokyo Stock Exchange (JPY)
Nippon Hotel Fund Investment Corporation 217,000 221,000 -2%
Japan Hotel and Resort Inc 168,000 165,700 1%
Imperial Hotel, Ltd 1,874 1,863 1%
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Michelle Hui
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Mark Keith & Daniel Voellm
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Manav Thadani
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Manav Thadani
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Adeline Phua
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David Ling
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