Northstar

NEWS ibis Singapore Novena opens its doors SINGAPORE - ibis Singapore Novena will soft open on April 2, 2011. The hotel is the second ibis hotel in Singapore. The hotel is anticipated to be as successful as the ibis Singapore Bencoolen which opened in 2009 and marked the entrance of international quality economy hotels to the city state. One of the key hallmarks of the ibis brand is simple and fair pricing. The opening of ibis Novena hotel is sure to be a great relief for those seeking out quality accommodation in Singapore at a reasonable price. The country like many key gateway cities in Asia is enjoying a boom in trading which is pushing up hotel room rates across all segments. The ibis Singapore Novena will of fer the hallmarks of the brand including LCD flat screen televisions, ergonomic bathroom, high speed and complimentary internet connectivity, simple and transparent pricing, 8 hour breakfast with all Minor International grows hotel portfolio SYDNEY - Minor International PCL (MINT), has announced a cash takeover offer for all of the shares in the Australian based Oaks Hotels & Resorts Limited. Under the terms of the investment, Minor International will offer Oaks shareholders 35 cents (A$) for every Oaks share held. The offer values Oaks' equity at approximately A$61 million, equivalent to a total enterprise value services backed by ibis's 15 minute satisfaction contract. The hotel also has OOPEN Restaurant, the latest of the ibis Brand's signature dining concepts serving pasta and grills and with an Asian Touch. RCI looks to cover new ground in Asia's shared ownership industry SINGAPORE - Resort Condominiums International (RCI) is looking to secure more hospitality brands to add to its already stellar cast. The Shared Ownership industry in Asia Pacific is relatively underdeveloped and is set to grow in the coming decade. Said Harold Derrah, CEO of Anantara Vacation Club, a shared ownership concept from the well-known Anantara resort brand, "During the past 11 years, it is estimated that more than US$150 billion of resort Shared Ownership has been sold on a global basis, however this amount is estimated at only about US$2.1 billion in the Asia Pacifi c region." RCI and Anantara Vacation Club recently concluded on their affi liation agreement in January 2011 and RCI is already looking to cast its net further to expand its foothold in the continent. Eunice Yap, vice president, Marketing & Affiliate Relations, RCI outlined the organisation's goal of dominating the Asian region, by means of an aggressive expansion blueprint. She said, "In the past 1 year, we have inked affiliate agreements with 8 hospitality groups and independent resorts in Asia alone. They include the likes of Six Senses Hideaway and Ana Mandara Group from Vietnam, Anantara Vacation Club from Thailand, delManggo Villa Estate, Chateau de Bali and The Seminyak 8 | ■ TRAVELWEEKLY ASIA | 29 MARCH 2011 of approximately A$129 million. Currently, Minor has already acquired a 14.96% stake in Oaks Hotels & Resorts and has advised that it is set to purchase a further 5% stake in the company subject only to FIRB approval (Foreign Investment Review Board), bringing the overall stake to 19.96%. The current 19.96% share acquisition refl ects an investment of A$12 million. As part of Minor International's three core businesses which include hotels, restaurants and lifestyle brands, the Minor Hotel Group has, up until now, boasted a portfolio of 33 hotels operating in eight countries. The investment in Oaks Hotels & Resorts is Minor's fi rst foray into the Pacifi c and doubles the company's hotel interests to 71 properties across Asia, the Indian Ocean, the Middle East and Australasia. Established in the early 1990s, the Oaks Village from Indonesia, Boracay Regency and One Tagaytay Place from Philippines and not forgetting Golden Palm Tree Sea Villas & Spa from Malaysia. We already have three ti mes more aff iliated resorts than our competitors in this expected to grow positively we already have three times more affi liated resorts than our competitors globally." According to a Ragatz Study on The Resort Timeshare and Fractional Interest Industries in Asia conducted in 2010, the estimated demand for resort timeshare in the 10 selected countries over a five-year period obviously has significant potential. Estimates are 964,700 consumers, who could purchase 1,447,000 intervals, for a total sales volume of $14.5 billion. group has developed into one of Australia's largest hotel and resort operators with a current collection of 38 hotels across Australia, New Zealand and the Middle East. Led by effective strategies in strata- titled property management and a unique market positioning, the 4 star hotel brand has strived to become Australia's leading serviced apartment management company. The result is a strong pattern of impressive growth accompanied by a solid market leading pos i t ion in the fa s t - growing MLR (Management Letting Rights) segment of the Australian accommodation market. Dillip Rajakarier, COO of Minor Hotel Group, comments "We are delighted to be entering the dynamic markets of Australia and New Zealand, especially with a hotel brand which has a strong track record in business delivery through marketing and distribution strategies, as well as a key focus on customer service. www.travelweeklyweb.com

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