Ramada International expands in Japan - Mandara Spa to operate spa in Tokyo - Starwood to manage hotel in Jiuzhaigou - Hilton extends contract for Beijing property - New resort development in Victoria, Australia - Arrivals to Singapore down 68% in April - PT Hotel Indonesia plans to lay off 75% of its workers - Ascott net profit down 55% - Sunway to build new hotel in Kuala Lumpur - New tourism complex to be built in Vietnam - Hong Kong Government plans rescue package due to SARS - Golden Ha Noi Hotel in Hanoi to be converted into office - Jinjiang Tower net profit up 13%
InterContinental Hotels Group to take over management of le Meridien Bangkok
Le Royal Meridien and Le Meridien President in Bangkok will ceased to be managed by Le Meridien Hotels & Resorts from 18th July 2003. President Hotel and Tower Co. Ltd., the owner of both properties, reached an agreement with the InterContinental Hotels Group to manage the two hotels. Le Royal Meridien Bangkok and Le Meridien President Bangkok will be re-branded respectively InterContinental Hotel and Holiday Inn. Le Meridien President Bangkok will undergo a US$13 million renovation and reopen as Holiday Inn Bangkok in early 2005.
Ramada International expands in Japan
Ramada International Hotels & Resorts, a division of Marriott International , has announced two separate agreements, which will bring the Ramada brand to Japan. The 184-room Holiday Inn Kansai International Airport Hotel will be rebranded the Ramada Hotel Kansai International Airport Izumisano-Osaka, under a franchise agreement with the Holiday Inn Osaka New Airport Co., Ltd. Furthermore, Ramada International has entered into a two-year development agreement with Loon Moon Group Ltd. for Ramada Encore hotels in the Kanto region of Japan. It is expected that nine hotels, most in Tokyo, will open by 2006. Each Ramada Encore hotel is expected to have 150 rooms and all will be built over a three-year period.
BIL increase share in Thistle Hotels capital
Singapore-based BIL International Ltd said it now owns 46.1% of the existing issued share capital of Thistle Hotels. In a statement BIL said it "strongly urges Thistle shareholders to accept its full and fair offer" by no later than 3.00pm on April 22 2003. On March 4, Thistle Hotels rejected BIL cash offer of 115 pence per share, which values the group at 555 million pounds.
Mandara Spa to operate spa in Tokyo
Mandara Spa Asia has signed a contract with Royal Park Hotels to operate the spa at Royal Park Shiodome Tower in Tokyo. Scheduled to open in July 2003, Mandara Spa at Royal Park Shiodome Tower will be the first Mandara Spa to open in Japan.
Starwood to manage hotel in Jiuzhaigou
Sichuan Xinchengxin Industrial Co Ltd. has announced an agreement appointing Starwood as the operator and manager of the 492-room Sheraton Jiuzhaigou Hotel, China. This five star property first opened in October 2000 as Jiuzhaigou International Hotel under a local management company. Starwood will assume official management of the resort from 1 June 2003. Jiuzhaigou is situated in the Sichuan Province.
Hilton extends contract for Beijing property
Hilton International has secured an extension of the Hilton Beijing's management contract for a further 10-year period. The 364-room hotel opened in January 1994 and is owned by Oriental Arts Building Company Limited, which is a Sino-foreign joint venture of China Travel Service (Holdings) Corporation of China and Chinese Estates Holdings Limited of Hong Kong.
New resort development in Victoria, Australia
Links Group Holdings has plans for an A$700 million luxury estate near Inverloch in the state of Victoria, Australia. The Tarwin Cove Club Resort would include a 150-berth marina, canals, an 18-hole championship golf course, 800 homes and a hotel.
Arrivals to Singapore down 68% in April
According to the Singapore Tourism Board total visitor arrivals to the city-state recorded 48,600 during the period 8-14 April, a decline of 68% compared to last year. Arrivals from Thailand, USA, Hong Kong SAR, Japan and Malaysia recorded declines in excess of 70%.
Danaharta invites bids for golf course
Malaysia's state asset manager Danaharta said it would invite bids for a golf resort in the northern state of Penang. The golf resort comprises an 18-hole golf course, complete with clubhouse facilities, and land for real estate development.
Marriott opens sales office in India
Marriott International announced the opening of a global sales office in India. The office will tap India's growing outbound market through direct sales and other distribution channels.
PT Hotel Indonesia plans to lay off 75% of its workers
PT Hotel Indonesia plans to lay off 75% of its workers if it failed to achieve an occupancy rate of at least 19% next month. According to the president of the state-owned company, A.M. Suseto, the measure is to save the hotel chain from bankruptcy as a result of a sharp fall in the number of guests lately.
Ascott net profit down 55%
The Ascott Group Ltd posted a 55% fall in first-quarter net profit largely as year-earlier figures included higher divestment gains. Net profit fell to S$4.19 million from S$9.3 million last year. The first quarter of last year included a gain of S$5.8 million from the disposal of a 50% share in The Ascott Mayfair property to a joint venture in Britain. The first quarter of this year included a gain of S$2.2 million from the sale of the Scotts Picnic FoodCourt business in Kuala Lumpur.
Sunway to build new hotel in Kuala Lumpur
Malaysia's Sunway Resort Hotel Sdn Bhd has secured a 60-million ringgit (US$15.8 million) loan. The funds will be used to build a 549-room hotel adjacent to another Sunway hotel near Kuala Lumpur.
Thakral Holdings outbids General Property Trust bid for Hamilton Island resort
Hamilton Island's board and Thakral Holdings Ltd through management buyout company 21st Century Resorts Holdings Pty outbid General Property Trust's A$160 million (US$96 million) offer for Hamilton Island resort. 21st Century Resorts Holdings Pty Ltd has offered A$2.70 per share for Hamilton Island, beating GPT's A$2.30 bid. Thakral will hold 42.5% of the equity in 21st Century Resorts.
New tourism complex to be built in Vietnam
Construction began on a VND1.8 trillion (US$ 117 million) retail, commercial and tourism complex west of Hai Duong city, Vietnam. The complex is located in northern Hai Duong Province, about 60 kilometres from Hanoi, and is being built by Nam Cuong Trade and Tourism Company. Infrastructures are scheduled for completion in 2005 and the entire project is expected to be completed by 2010.
Hong Kong Government plans rescue package due to SARS
The Hong Kong Government plans a HK$11.8 billion package of measures to lessen the impact of atypical pneumonia on the economy. The Government plans allocating HK$1 billion to launch large-scale publicity and promotions internationally and locally. Furthermore, the Government plans specifically for the hotel industry to waive the rates, water charges, sewage charges and trade effluent surcharges for one quarter, as well as the license fees for one year.
Golden Ha Noi Hotel in Hanoi to be converted into office
The Viet Nam Insurance Corporation and the Viet Nam Bank for Private Enterprises will convert the semi-built Golden Ha Noi Hotel in Hanoi into an office building. Construction of the Golden Ha Noi Hotel was interrupted in 1996. Total cost for the conversion of the hotel is estimated at approximately US$7.2 million.
Jinjiang Tower net profit up 13%
China-based Jinjiang Tower reported a net profit of 22.85 million yuan (US$2.76 million) for 2002 versus a net profit of 5.97 million yuan (US$ 719,200) in 2001. The company attributed the rise in net profits to strong growth in its main hotel business, which saw revenues increase 13.8% to 190.73 million yuan (US$22.9 million).
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