Casino shares up after CE’s speech March 18, 2010
Posted by koelnmesse foodie in Industry News.Tags: economy, hotel, Macau
add a comment
Shares in Macau’s United States casino operators registered a rise after Chief Executive Fernando Chui Sai On’s maiden Policy Address was announced on Tuesday.
Since Chui Sai On did not introduce any specific caps on numbers of tables or slot machines, Las Vegas Sands stock jumped 7.33 percent, closing at USD 20.06 – the first time in a while that the company’s stock has surpassed the USD 20 mark. MGM Mirage closed at USD 12.30, up 8.08 percent, while Wynn Resorts stock increased 4.48 percent, finishing at USD 73.63.
Chui Sai On pledged his government would control the size and growth rate of the city’s booming gaming industry. However, the new Government’s leader did not announce any specific cap.
> Read the full article at Macau Daily Times
2010 Policy Address by Macau Chief Executive March 18, 2010
Posted by koelnmesse foodie in Industry News.Tags: economy, Macau
add a comment
The Chief Executive said the government will make full use of the Mainland and Macau Closer Economic Partnership Arrangement (CEPA) as a means to push forward economic diversification in Macau and ensure the city to become a “true world tourism and leisure hub and regional trade and investment service platform”.
> Read the full address at Macau Daily Times
Asia/Pacific hotel development for February 2010 March 18, 2010
Posted by koelnmesse foodie in Market Figures.Tags: Asia, China, economy
add a comment
LONDON—The Asia/Pacific hotel development pipeline includes 950 hotels comprising 241,020 rooms, according to the February 2010 STR Global Construction Pipeline Report released this week.
China ended the month with the largest number of rooms in the total active pipeline among the countries in the region with 126,798 rooms, followed by India with 43,258.
Among the key markets of the region, Shanghai, China, reported the largest number of rooms in the total active pipeline with 13,954. Three other markets ended the month with more than 5,000 rooms in the total active pipeline: Bangkok, Thailand (7,929 rooms); New Delhi, India (6,962 rooms); and Beijing, China (6,594 rooms).
Among the Chain Scale segments, three of the seven segments accounted for more than 60 percent of rooms in the total active pipeline. The Upper Upscale and Upscale segments made up 23.4 percent of the total active pipeline with 56,350 and 56,468 rooms, respectively. The Unaffiliated segment made up 21.5 percent of the total active pipeline with 51,936 rooms.
> Read more at HotelNewsNow.com
Hotels in Asia Pacific Lead Global Occupancy Recovery March 1, 2010
Posted by koelnmesse foodie in Market Figures.Tags: Asia, hotel
add a comment
According to data compiled by STR Global, hotels in the Asia Pacific region experienced increases in all three key performance metrics for January 2010 when reported in U.S. dollar. In year-on-year measurements, the Asia Pacific region’s OR rose 13.9% to 61%, ADR increased 5.6% to US$130.75, and RevPAR jumped 20.3% to US$79.81.
“Hotels in the Asia Pacific region lead the world in terms of occupancy recovery with double-digit growth in three out of the four sub regions and Australia and Oceania improving 3.2%,” said Elizabeth Randall, managing director of STR Global. “The region achieved the highest occupancy of 61%, some 6.2 percentage points more than the Middle East / Africa region, 12.8 percentage points more than Europe and 15.5 percentage points more than the Americas. Of the 16 countries we report on our Asia Pacific Hotel Review, only French Polynesia, Japan, the Maldives and South Korea reported occupancy declines compared with January 2009.”
> Read the full article at AsiaTravelTips.com
