TTG Asia
Asia/Singapore Sunday, 21st December 2025
Page 2553

Mandarin Orchard Singapore poised for potential sale

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A BUYER has expressed interest in the Mandarin Orchard Singapore and its affiliated shopping mall, Mandarin Gallery, both of which are owned by Singapore-listed property developer Overseas Union Enterprise (OUE).

OUE revealed in a filing on the Singapore Exchange yesterday that it had offered an unnamed potential buyer exclusive rights to conduct preliminary due diligence on the two properties.

The 1,051-room Mandarin Orchard Singapore – managed by Meritus Hotels & Resorts – and Mandarin Gallery were collectively valued at S$1.7 billion (US$1.4 billion) last year in the company’s annual report, with the hotel worth S$1.18 billion and the mall, S$520 million.

OUE, which derives 65 per cent of its revenue from hotel operations, emphasised in its filing that “no firm decision (had) been taken and no definitive agreement (had) been entered” into thus far.

The property developer bought Crowne Plaza Singapore last year, which is connected to Changi International Airport’s Terminal 3.

Genting Singapore to divest 4.8% stake in Echo Entertainment

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GENTING Group’s subsidiary in Singapore is selling a 4.8 per cent stake in Australia’s Echo Entertainment Group.

According to a report in Reuters, Genting Singapore revealed it was selling 39.6 million Echo shares at A$3.99 (US$4.16) per unit, valuing the stake at around A$158 million. The company currently holds close to 10 per cent in Echo shares.

Market observers say the move will allow Genting’s rival, Crown, to close in on Echo, operator of the The Star Sydney Casino & Hotel, which is known to attract scores of Asian high rollers.

Crown, controlled by Australian billionaire James Packer, already owns a 10 per cent share in Echo, and is seeking regulatory approval to increase the stake to 25 per cent.

Meanwhile, Genting Hong Kong sought to reassure shareholders that it would continue to hold on to its investment in Echo in a statement released yesterday. The company also said it remained committed to its application to acquire more than 10 per cent voting power in Echo.

SilverNeedle to relaunch Chifley Brisbane as first Next Hotel

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CHIFLEY at Lennons Hotel Brisbane will be reopened in 2014 as the first Next Hotel, managed by SilverNeedle Hospitality.

SilverNeedle recently completed the A$57 million (US$59 million) purchase of the property, which it has been managing for the past 15 years, from Abacus Investment Group.

SilverNeedle’s flagship brand, Next Hotels & Resorts, is targeted at business travellers, and will focus on efficiency from point of booking through to final departure. Next Hotel will boast twice the number of rooms the Chifley currently has, from 150 to 300 rooms.

Iqbal Jumabhoy, managing director & group CEO, SilverNeedle Hospitality, said: “The rising demand for four- to four-and-a-half-star properties in Asia-Pacific together with Australia’s close proximity to Asia ensures that we are well equipped to meet demand from the growing influx of travellers.”

SilverNeedle Hospitality currently operates 67 properties in the region under the Grand Chifley, Chifley, Australis, Country Comfort and Sundowner brands, along with a portfolio of independent boutique hotels.

– Read View from the Top with Iqbal Jumabhoy in TTG Asia October 5, 2012

Taiwan’s Taoyuan Airport to splash US$15.4 billion on third terminal

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TAIWAN’S Taoyuan International Airport will receive a NT$463 billion (US$15.4 billion) boost in operational capacity with the addition of a new terminal, which is expected to be ready in 2018, according to Agence France-Presse.

Once the Taoyuan Aerotropolis project is complete, the airport is expected to be able to handle 75 million passengers a year. Work on the new terminal is slated to begin in 2014, with a NT$50 million budget.

Facilities will also be upgraded to include an aerospace industrial park and special zones for cargo and logistics, said Taiwan’s transportation ministry.

The project is expected to reap NT$2.3 trillion in economic benefits, create 260,000 jobs and add NT$84 billion in taxes to government coffers.

Plans for the airport’s makeover were first tabled five years ago, in the hopes of Taiwan catching up to its Asian neighbours, but were stalled in the face of budget constraints and land acquisition problems.

Taiwan has seen a growing influx of tourists from the Chinese mainland after relaxing travel controls in 2008. The island welcomed 1.8 million Chinese visitors last year, exacerbating the need for better infrastructure to handle the stream of tourists.

According to Taiwan’s tourism bureau, the country received a record 6.08 million international visitors in 2011, compared to 5.5 million the year before.

Third Amway Korea win for Empire

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THE EMPIRE Hotel & Country Club, Brunei will receive its largest single booking for the year in November when it plays host to Amway Korea’s Leadership Seminar.

More than 2,400 top Amway Korea distributors will descend on Brunei in four waves, with at least 600 delegates each for a total of 16 nights. Participants will use the opportunity to share their experiences, review past performances and prepare for the future.

Desmond Acheson, general manager of the 518-room Empire Hotel & Country Club, Brunei, said it would be the third Amway Korea event hosted at the property. Amway Korea had used the hotel for its annual Diamond Invitational events in 2005 and 2007.

According to Acheson, the hotel was shortlisted in late 2010 as a possible venue based on the success of previous events, and was officially named host venue last November.

Held from November 10-26, the Leadership Seminar will fully occupy the hotel.

Acheson said: “Some adjustments must be made. We have contacted some of our regular guests who usually come during this time of the year to see if they were willing to shift their travel dates.

“We’re really excited about this event as it will attract more than 2,400 new visitors to the Sultanate, all of whom will act as our ambassadors upon their return. They will talk about us to their friends and, hopefully, their friends will decide to visit us.”

Adoption of cruises slow among Singapore’s corporates

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DESPITE mounting interest among Singapore-based corporate firms to charter cruise ships for business events, this segment has yet to take off, according to Mona Foo, head of sales, Singapore, Royal Caribbean Cruises.

“In Royal Caribbean’s case, most of our charters derive from China, where there’s sufficient volume to warrant chartering large cruise ships, either wholly or partly. Multinational companies in Singapore tend to charter ships only if they can build numbers by roping in employees from other regional destinations,” said Foo.

Singapore-based corporate clients, as outlined by Foo, tend to request for cruise departures to Thailand and Malaysia for an average of three nights.

Speaking to an audience of travel consultants at a training session at Cruise Shipping Asia-Pacific on Tuesday, Foo emphasised that clients were drawn to hosting MICE events on ships as they offered more value. “Corporations don’t have to fork out for separate elements, itineraries and activities can be customised and there’s an opportunity to drum up publicity,” she explained.

Alex Yip, general manager, Siam Express, expressed that chartering cruises for MICE does make business sense, but in order for travel consultants and event planners to convince their clients to pick ships as a MICE venue, it was crucial that travel consultants and event organisers were given the opportunity to experience the different MICE products and services cruise lines have.

“Only then, will you be able to give the right advice in regards to which cruise ship suits a client’s event best,” he said.

Info Salons, Passkey join up for growth in Greater China

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EXHIBITION IT service provider, Info Salons, and group reservation technology provider, Passkey, have joined hands to launch a group/MICE hotel booking service in Greater China.

The partnership will allow Info Salons to provide a much more expansive suite of business travel services, including hotel reservations, to event organisers, exhibition visitors and conference delegates. Passkey’s cloud-based GroupMAX platform, which is said to be the most widely-used solution of its kind, will also enable Info Salons to become the first hotel booking provider in Greater China to offer one-stop business travel registration for event visitors and delegates.

Gu Xuebin, managing director of Info Salons Greater China, said the partnership resulted from three years of preparation.

Greg Pesik, Passkey CEO, said: “We recognise how essential having a local partner is not only to our success, but to the success of our clients. This partnership, as well as the investment in the technology integration, will help ensure that Chinese exhibition organisers, hotels and convention centres can rapidly enhance the level of business travel service they can provide to visitors and delegates.”

Advito forecasts weaker business travel in 2013

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DEMAND growth for business travel is projected to slow down next year, according to the 2013 Industry Forecast by Advito, BCD Travel’s independent consulting unit.

The study said continued eurozone woes would soften growth rates in other regions, even in historically strong driver markets such as China. Demand, however, will continue to outpace supply, with airlines keeping a particularly tight hold on inventory. As a result, buyers are warned to brace for low- to mid-single digit price hikes in airfares and hotel rates.

Bob Brindley, principal at Advito, said: “With the current macroeconomic situation uncertain and limited capacity going into next year, it’s more important than ever that buyers have a clear understanding of their buying power going into their negotiations, make better use of data analysis in their decision making process, and closely monitor their travel spend.”

He added: “For instance, with airfares projected to increase, buyers should pay close attention to fare restrictions and recommend smarter purchasing behaviour for their travellers. On the hotel side, options include searching for internal savings such as minor downgrades in accommodation standards and expanding the number of properties used in high demand markets to improve the likelihood of booking availability.”

For the first time, the 2013 Industry Forecast also analyses secondary spend categories including dining, mobile roaming and ground transportation. These expenses are estimated to account for 18 per cent of total T&E, and will become a major savings opportunity in 2013 and beyond.

Hilton Fukuoka Sea Hawk swoops in with meeting deal

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THE OCEANFRONT Hilton Fukuoka Sea Hawk Hotel in Fukuoka city, Japan is offering a limited edition meeting package for groups with 20 to 50 delegates.

Priced at JPY11,500 (US$147) per person, the Eureka package includes full-day use of a meeting room, lunch at Seala Buffet or take-out Japanese lunch box, two coffee breaks with refreshments, basic audiovisual equipment and stationery, and LCD projector with screen or flipchart.

Meeting delegates will also enjoy access to the hotel’s Iwaburo Stone Bath & Sauna once a day.

The Eureka package is valid from now till December 28. Contact Jeremy Nam, assistant director of sales at jeremy.nam@hilton.com or (81-92) 844-7901.

Green boosters for meetings at Four Seasons Hotel Singapore

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FOUR Seasons Hotel Singapore is offering complimentary environmentally friendly options for meetings booked by November 30 and held before the year is over.

Priced at S$90 (US$73) per person per day (full-day meeting package) and $75 per person per day (half-day meeting package), the Value Meeting Plus deal offers meeting planners the opportunity to use chinaware and silverware instead of disposable plating and utensils, enjoy a ‘green’ menu with vegetarian options upon request, and donate event decorations and display materials to a local organisation for recycling, among other green efforts.

To qualify for this sustainable meeting experience, a minimum booking of 10 guestrooms is required. Terms apply. Contact Chinen Phillips, director of sales, at chinen.phillips@fourseasons.com or (65) 6831-7007.