Northstar

BUSINESS www.travelweeklyweb.com TIHGI begins trading Photo: Resorts World Manila HONG KONG & MANILA – Travellers International Hotel Group, Inc. ("TIHGI") begins trading on the Philippine Stock Exchange ("PSE") today under the ticker "RWM". TIHGI, a joint venture of Genting Hong Kong and Alliance Global Group, Inc., is the developer and operator of Resorts World Manila, the first and largest integrated tourism resort in the Philippines. TIHGI is the developer and operator of Resorts World Manila, the first of its kind in the Philippines The offering consisted of the issuance of 1.57 billion primary shares plus an over-allotment option of approximately 236 million shares. The management team conducted a global roadshow covering Manila, Kuala Lumpur, Hong Kong, Singapore, New York, Boston, and London. The international offering received strong demand from all of these locations. The international tranche was covered on the first day of book building and was significantly oversubscribed upon closing of the books. The transaction attracted orders from approximately 100 global institutional accounts. The domestic tranche also saw strong demand and was several times oversubscribed. "The success of TIHGI's IPO demonstrates the global investment community's belief in the Philippine tourism and entertainment sector, and in particular, Travellers, as the vehicle to take on the strong macroeconomic growth potential of the Philippines," said Kingson Sian, president, TIHGI. CIMB Securities, Maybank Kim Eng Securities, Merrill Lynch, Religare Capital Markets and UBS AG acted as Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers on the transaction while CLSA Limited, Credit Suisse and Morgan Stanley acted as Joint International Co-bookrunners. BDO Capital & Investments Corporation, Maybank ATR Kim Eng Capital Partners and UBS Investments Philippines acted as Joint Domestic Lead Underwriters. Luxury Maldives resort sold to hospitality group SINGAPORE – Jones Lang LaSalle's Hotels & Hospitality Group has exchanged contracts for the sale of Jumeirah Dhevanafushi in the Maldives to Singapore-based CDL Hospitality Trusts for US$59.6 million. Jumeirah Dhevanafushi is one of the Maldives' most luxurious and highly-rated resorts, comprising 19 beach villas and 16 over-water villas. The sale includes the benefit of a long-term management agreement with Jumeirah Hotels & Resorts, one of the world's most recognized hotel brands with a collection of iconic hotels such as the Burj Al Arab in Dubai. The sale marks CDL Hospitality Trusts' second acquisition in the Maldives during 2013 and follows their purchase of the Angsana Velavaru earlier in the year in a transaction also brokered by Jones Lang LaSalle's Hotels & Hospitality Group. "We are delighted to announce this landmark sale, the first arm's length third-party managed resort sale in the Maldives and the second acquisition in the country by a major regional Jumeirah Dhevanafushi, Maldives institutional investor during 2013," said Nihat Ercan, senior vice-president, Investment Sales Asia, Jones Lang LaSalle, Hotels & this trend to continue into 2014 as further opportunities in this unique market unfold." Hospitality Group. Since 2012, Jones Lang LaSalle's Hotels & Hospitality Group "With sound trading fundamentals and enduring strength of visitor demand, the Maldives has certainly captured the attention of the has exclusively brokered five resort transactions in the Maldives, investment community across Asia and the Middle East. We are seeing representing over 350 rooms and more than US$330 million in significant interest and weight of capital from private investors, owner- transaction volume, underscoring the island-paradise destination as operators, listed companies and institutional investors, and we expect one of the most liquid investment markets in Asia. 8 | ■ TRAVELWEEKLY ASIA | DECEMBER 2013 www.travelweeklyweb.com

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