The News Review:

- Accor sells Amsterdam hotel The Grand in 92 million euro management…
- Bloomberg.com: Investment Tools
- The Castle Group Inc. Announces Financial Results for First Quarter…
- Myanmar cyclone toll hits 10000 for just one town
- Thaksin Shinawatra has much to learn
- Kid-Friendly Summer Vacation Spots
- The Peninsula n-line: Qatar’s leading English Daily

Accor sells Amsterdam hotel The Grand in 92 million euro management…
Forbes – May 6, 2008
In a statement Accor said it sold the hotel for 60 million euros to an unnamed buyer who has agreed to finance 32 million euros of renovation work. The transaction is expected to reduce Accor’s adjusted net debt by 68 million euros. Accor will continue to run the hotel under a 25-year management contract and hold a 40 percent interest in the company that owns The Grand. It said the deal is in line with its luxury hotel asset management strategy which aims to reduce earnings volatility by selling hotel properties while continuing to manage them over the long term… It said this enables it to focus on its ‘core competency which is hotel management. ‘ The Sofitel The Grand has 182 rooms and 1300 square metres of meeting and banqueting space and when renovation work is completed in June 2009 it will be rebranded as a high-end Sofitel Legend outlet. Accord also announced that six other Sofitels are be rebranded as Sofitel Legend properties: the Winter Palace in Luxor Egypt; the ld Cataract in Aswan Egypt; the Palais Jamai in Fes Morocco; the Metropole in Hanoi Vietnam; the Hua Hin resort in Thailand and the Santa Clara in Cartagena Colombia. Earlier this week Accor said two of its major investors the Eurazeo and Colony Capital investment funds have signed a 5-year shareholder pact and aim to raise their joint stake to 30 percent of stock from 17. Colony has a track record of urging companies in which it invests to raise funds by selling real estate.

Bloomberg.com: Investment Tools
Bloomberg – May 6, 2008
pening in early 2010 the hotelwill feature 250 rooms an ocean-view restaurant and a health clubincluding a gym and spa. The property will also offer extensive ballroomand banqueting facilities establishing itself as the only internationalhotel in the vicinity of Male with specially designed conference services. Rezidor Managed Radisson Hotels & ResortsRezidor signed two new Radisson SAS Hotels & Resorts properties in thefirst quarter of 2008 including the Radisson SAS lympic Hotel MinskBelarus and Radisson SAS Hotel Madrid Prado. At the end of 2009 the Radisson SAS Hotel Madrid Prado will open itdoors in Spain's capital. The hotel is the conversion of an existingbuilding in an absolutely unique location: in front of the famous PradoMuseum and next to the new cultural art center "CaixaForum. " All 54 rooms(including six suites) as well as all public areas will be designed bySandra Tarruella and Isabel Lopez – both are amongst Spain's best InteriorDesigners and known for outstanding projects such as the sophisticated"Hotel mm" in Barcelona.

The Castle Group Inc. Announces Financial Results for First Quarter…
Earthtimes – May 6, 2008
7 million as result of increases in property expenses the decrease in the exchange rate with the New Zealand dollar and corporate and international staff growth in support of the new contracts signed last year. In addition during the first quarter the Company continued to incur incremental travel and administrative expenses related to establishing offices and personnel in Thailand and developmental activities in Vietnam. “We view our developmental spending in Vietnam and Thailand as an investment. Like many other companies who invest in Research and Development we are spending on developing our business in these areas in order to secure new revenue sources for the future” said Rick Wall Chairman and CE of The Castle Group Inc. The Company reported that EBITDA (earnings before interest taxes depreciation and amortization) increased to $329203 for the quarter from $186336 in the first quarter of 2007. Further the Company’s Net Income for the first quarter increased to $99658 from $19702 in the year earlier period. For more information see the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31 2008 as filed with the Securities and Exchange Commission… Further the Company’s Net Income for the first quarter increased to $99658 from $19702 in the year earlier period. For more information see the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31 2008 as filed with the Securities and Exchange Commission. Plans for Growth “We have recently observed a change in demand for hotel rooms at properties on all Hawaiian islands. This is primarily due to three factors: overall economic conditions the loss of two significant airlines with their lift into Hawaii and increased airfares on the part of the other carriers” said Alan Mattson C of The Castle Group Inc. He continued “n the other hand our expansion into Micronesia New Zealand Thailand and Vietnam should tend to offset the impact of this trend for our Company. ” Rick Wall Chairman and CE of The Castle Group Inc. commented “In light of the tremendous opportunities outside of Hawaii and the positive reception we have received in Thailand and Vietnam we are positioning the Company for even more aggressive growth in these international markets than we were initially targeting a few months ago.

Myanmar cyclone toll hits 10000 for just one town
San Diego Union Tribune – May 6, 2008
ffice for the Coordination of Humanitarian Affairs. The diplomats said they were told Myanmar also known as Burma welcomed international humanitarian aid including urgently needed roofing materials medicine water-purifying tablets and mosquito nets. The first 10-ton shipment was scheduled to arrive from Thailand today. The appeal for outside assistance was unusual for Myanmar's ruling generals who have long been suspicious of international organizations and closely controlled their activities. Several agencies including the International Red Cross and Doctors Without Borders have limited their presence as a consequence. Horsey said it appeared the U… “We heard the big bangs and then I looked out on the balcony I couldn't stand there but I saw things coming down from the roof. Trees were falling which have stood there for a long time” said Sweden's former integration minister Jens rback who was in the city when the cyclone hit. “And in our hotel the ceiling came in with glass and the lights and it turned black” rback told AP Television News. Yangon where officials said 59 people died was without electricity except where gas-fed generators were available and residents lined up to buy candles at double last week's prices. With pumps not working most homes were without water forcing families to stand in long lines for drinking water and bathe in the city's lakes. Aung Zaw editor of Thailand-based Irrawaddy Magazine said that groups of monks joined residents in clearing the streets but that in one case they had been prevented from leaving their monastery by armed police officers. As centers of an uprising against the government in September some monasteries remain under police or military guard Zaw said.

Thaksin Shinawatra has much to learn
Telegraph.co.uk – May 6, 2008
Nor is Eriksson likely to fret overmuch. The sillier and more impatient football gets the richer he becomes. The Swede will never be short of a smile. r an offer to work somewhere else… More important from the supporters’ point of view however is next season for which plans must be laid. The favourite to succeed Eriksson is Luiz Felipe Scolari but until the end of Portugal’s European Championship campaign which could be as late as June 29 he will be expected to concentrate on that rather than weighing up transfer options for City. Short of tapping up Cristiano Ronaldo in the squad hotel what can he do? Benitez meanwhile is doing what Eriksson ought to be allowed to do. He has arranged for Liverpool to lodge an opening bid of £10?million for the Aston Villa captain Gareth Barry who plays alongside Steven Gerrard for England. This looks a more reliable option than going for Ronaldinho of whom Barcelona are trying to get rid; City had talks with him recently before accepting that the alarmingly faded Brazilian is more likely to go to Italy. That move had the stamp of Thaksin who in some ways exemplifies the new breed of owner. As Roy Hodgson once so aptly put it (though he might have chosen a different metaphor in some cases): ”They are playing fantasy football with live bullets.

Kid-Friendly Summer Vacation Spots
Forbes – May 6, 2008
Unlike the family vacations their grandparents took likely by car to the countryside or a national park today’s young travelers tag along with their parents on cross-country or international flights to isolated destinations metropolitan cities and theme parks. With more flights to more destinations today family vacations can easily involve globe-trotting. The summertime vacation in particular is when parents can block out two weeks for a trip to Thailand three months to explore Africa or a maybe a week in Paris with a biking trip in the Loire Valley… Neither is superior but services and programs for children will vary. Theme parks for example cater to kids non-stop which Lipman sees as kid-friendly. More hotels and resorts on the other hand are offering nanny services and creative age-appropriate activities which Lipman considers kid-focused.

The Peninsula n-line: Qatar’s leading English Daily
Peninsula n-line – May 6, 2008
(ABDUL BASIT) doha With Qatar witnessing a boom in the hospitality sector and heavy investments in its travel and tourism industry it is not surprising that Diyafa 2008 the leading hospitality and food exhibition that opened yesterday has attracted a record number of exhibitors. The exhibition which was opened by Qatar Chamber of Commerce and Industry Chairman Sheikh Khalifa bin Jassim bin Mohammed Al Thani at the Doha Exhibition Centre created quite a stir with visitors thronging to check what leading local and international hospitality industry firms had to offer. rganised by the IFP Group which has organized over 360 international trade shows in the region Diyafa 2008 the third edition of the Hotel Restaurant and Food Exhibition has created a one-stop-shop offering hotel and restaurant supplies catering equipment and business opportunities for hotel owners operators and developers. The event has attracted a huge local and international line-up of exhibitors displaying a wide range of products and services from many countries around the world including Qatar Lebanon UAE Thailand Tunisia Iran and UK. “Hundreds of local regional and international exhibitors are taking part in the hospitality sector’s leading event staged in Qatar” said IFP Chairman Qatar Rashid bin Nasser Al Kaabi… The exhibition which was opened by Qatar Chamber of Commerce and Industry Chairman Sheikh Khalifa bin Jassim bin Mohammed Al Thani at the Doha Exhibition Centre created quite a stir with visitors thronging to check what leading local and international hospitality industry firms had to offer. rganised by the IFP Group which has organized over 360 international trade shows in the region Diyafa 2008 the third edition of the Hotel Restaurant and Food Exhibition has created a one-stop-shop offering hotel and restaurant supplies catering equipment and business opportunities for hotel owners operators and developers. The event has attracted a huge local and international line-up of exhibitors displaying a wide range of products and services from many countries around the world including Qatar Lebanon UAE Thailand Tunisia Iran and UK. “Hundreds of local regional and international exhibitors are taking part in the hospitality sector’s leading event staged in Qatar” said IFP Chairman Qatar Rashid bin Nasser Al Kaabi. “The tourism industry is growing and Qatar’s hospitality industry ranks second after the natural resources sector. In the next five years Qatar will spend billions on the sector and is fast moving to become a global tourist destination. He said mega investment projects exceeding $20bn are coming up in the country on top of which is the new airport entertainment amenities resorts and tens of luxurious hotels with a capacity of more than 12000 additional rooms.

You can skip to the end and leave a response. Pinging is currently not allowed.