HOTEL
CONSTRUCTION in the Asia-Pacific region is moving at a
"torrid pace," with 962 hotels representing almost 260,000 rooms in
the pipeline at the end of the first quarter of 2007, according to
a report by Lodging Econometrics, a Portsmouth, NH-based hotel
consulting company. By the end of this year, 209 more hotels an
additional 53,000 rooms will open in the region, followed by
another 329 hotels with 84,500 rooms in 2008. About 53% of all
rooms currently in the Asia-Pacific pipeline will open in 2008, the
report said. According to the firm, development has been stimulated
by a "deluge of capital" available for investment in all real
estate sectors, easy access to debt at historically attractive
lending terms, high occupancies with surging room rates and guest
room shortages in many markets. Among the brands, InterContinental
has the largest number of hotels in the pipeline, with 73, followed
by Starwood with 60 and Marriott with 40. As for Asian brands, Hong
Kong-based Shangri-La, with 32 properties, and Mumbai-based Taj
Hotels, with 36 properties, lead their local counterparts in hotel
development.
HOTEL
DEVELOPMENT IN CHINA is driving the region's building
boom, with 496 hotel projects in the pipeline, representing 66% of
all rooms (170,417) under development in the area, according to
Lodging Econometrics. Three cities lead the way in China: Shanghai,
the country's main international gateway; Beijing, host city of the
2008 Summer Olympic Games; and Macau, which has 33 casino projects
with 25,000 rooms in the pipeline. Much of the construction is
attributed to China preparing for an influx of tourists for the
Olympic Games in Beijing and other major regional sporting events
that the country will host. India ranks second in hotel
construction in the region, with 181 hotels with 31,319 rooms in
the pipeline, with most of the development taking place in
mid-market and economy properties located in suburban and office
park developments. According to Lodging Econometrics, another 283
hotels are under development in the rest of Asia, with much of the
construction taking place in Indonesia, the Philippines and
Vietnam.
SINGAPORE-BASED BANYAN TREE HOLDINGS plans
to launch a new luxury brand, Banyan Tree Residences, targeting
luxury travelers and property investors. Under the concept,
investors will be able to buy their own villas, townhouses or
apartments that are part of existing Banyan Tree properties. Banyan
Tree will manage the rentals for owners, who will have use of their
property for 60 days out of the year. Banyan Tree Residences are
planned for Banyan Tree properties in Phuket and Bangkok, Thailand;
the Seychelles; Jijiang, China; and Bintan, Indonesia. For
information about the new brand, visit www.banyantreeresidences.com.
TRAVEL
IMPRESSIONS has extended its 15% commission offer on all
Tahiti and Her Islands bookings through the end of 2007. Travel
Impressions, which added the destination to its product line last
year, serves Tahiti with nonstop service on Air Tahiti Nui from Los
Angeles and New York (Kennedy). To book or for more information,
call (800) 284-0044 or visit www.travelimpressions.com.
AIR NEW
ZEALAND signed a code-share agreement with Air Pacific,
enabling customers of both carriers to fly nonstop between Los
Angeles and Fiji seven days a week. Air New Zealand will operate
three weekly flights between the two destinations, while Air
Pacific will operate as many as five flights a week.
Asia-Pacific Editor: Jorge
Sidron
Phone: (973) 898-0011
[email protected]
For promotional
opportunities in the E-letters, contact [email protected].