Category: TRA

The world’s cruise industry heads in record numbers to Barcelona, Spain

LONDON, Aug. 30, 2014 /PRNewswire/ — In just a few weeks, cruise industry professionals from around the world will be heading to Barcelona, Spain’s leading cruise port, for the tenth edition of the Seatrade Med Cruise Convention. This year’s event has already achieved a record number of ports, destinations and suppliers showcasing their products and services on the exhibition floor, mirroring the market growth of the cruise industry in the Mediterranean.

A highlight of the convention will be the conference programme – where leading figures will discuss and debate the issues confronting the Mediterranean’s flourishing cruise market. As well an overview of the Mediterranean cruise market, over 40 industry peers will discuss topics such as the increasing popularity of upscale cruising, logistics and ship supply, maximising overnights stays in ports, marketing and sales, the relationship between cruise lines, ports and terminals, green innovations and also the development of cruise itineraries in the region.

In addition to Pierfrancesco Vago Chairman, CLIA Europe, and Executive Chairman, MSC Cruises, Kyriakos (Kerry) Anastassiadis CEO, Louis Cruises, David Dingle CEO, Carnival UK, Adam Goldstein President & COO at Royal Caribbean Cruises Ltd and Michael Thamm CEO, Costa Crociere SpA, we are pleased to announce that Jorges Vilches, President & CEO for Pullmantur Cruises, is also confirmed to join the line up of high-profile cruise line executives for the opening ‘State of the Cruise Industry in the Mediterranean’ plenary session.

A two-day travel agent training programme, provided by CLIA (Cruise Lines International Association) will also take place giving local travel agents the opportunity to broaden their knowledge on this lucrative market.

With record pre-registration numbers, the tenth edition, promises to to be one of the most successful events yet. Seatrade Med provides a proven business platform for participants to engage and generate business opportunities, through a high-level conference programme, showcase exhibition, travel agent training sessions and social networking events.

Additional news and information about Seatrade Med are available at cruiseshippingevents.com/med. Find Seatrade Med on Facebook, Twitter, LinkedIn and YouTube.

The 2014 Seatrade Med Cruise Convention is owned and organised by UBM in partnership with Seatrade and in association with the Port of Barcelona.

Editor – Nina Marston at Seatrade, Tel +44 1206 545121 or email nmarston@seatrade-global.com

Complimentary press registration is available to editors, writers and print/broadcast reporters intending to report on the event. Visit cruiseshippingevents.com/med/press to book your place.

About Seatrade Med The Seatrade Med Cruise Convention, the major biennial cruise event focused on the world’s second largest cruise destination – the Mediterranean, will gather in Barcelona, Spain from September 16-18, 2014 at Fira de Barcelona Gran Via Conference Centre. Owned and organized by UBM Live in partnership with Seatrade Communications Ltd, Seatrade Med is Europe’s most prestigious cruise event, welcoming over 4,000 attendees and 300 exhibiting suppliers and service providers to the Mediterranean cruise market. Part of UBM Live’s growing Cruise Shipping Portfolio, Seatrade Med features a comprehensive conference featuring high-profile speakers, an exhibition, a travel agent training component, and valuable networking events.

About UBM Live UBM Live connects people and creates opportunities for companies across five continents to develop new business, meet customers, launch new products, promote their brands and expand their markets. Through premier brands such as Routes, CPhI, IFSEC, TFM&A, Cruise Shipping Miami, the Concrete Show and many others, UBM Live exhibitions, conferences, awards programs, publications, websites and training and certification programs are an integral part of the marketing plans of companies across more than 20 industry sectors.

About Seatrade Established 40 years ago, Seatrade is a leader in cruise and maritime publications, conferences and exhibitions, training, awards and other special projects. Regular events include international trade exhibitions and conferences across all maritime sectors, management training courses for shipping professionals, training seminars for travel agents and award schemes, including the Seatrade Insider Cruise Awards. Seatrade publications include magazines, supplements and yearbooks, whilst Seatrade Insider provides daily cruise news online at seatrade-insider.com

Air China Starts Codeshare with China Express

BEIJING, Aug. 29, 2014 /PRNewswire/ — Air China and China Express signed a codeshare cooperation agreement in the city of Guiyang, Guizhou province on August 29, 2014, and the two carriers will start to share codes on each other’s selected flights from September 1, 2014.

Air China Starts Codeshare with China Express

Air China Starts Codeshare with China Express

 

Air China Starts Codeshare with China Express

Air China Starts Codeshare with China Express

 

According to the agreement, the two carriers will connect the cities of Chongqing, Guiyang and Dalian to their respective networks. With the cooperation, Air China will be put its code CA on 32 routes operated by China Express, which will extend its route network to the second-tier and third-tier cities around Chongqing as well as in provinces of Guizhou and Liaoning Province. At the same time, China Express will put is G5 code on 30 routes operated by Air China, which will extend its network to most of China’s big and medium-sized cities. Currently, Air China operates over 50 routes to Chongqing, Guizhou and Liaoning, giving passengers easy access to most of the Chinese provincial capitals via Chongqing, Guiyang and Dalian.

Lou Yongfeng, Managing Director, International Cooperation Department, Commercial Committee, said, “Air China has always attached great importance to establishing partnerships with other carriers. It is our hope that our codeshare cooperation with China Express will further expand the networks of both sides and make it easier for passengers around the country to travel to and from the regions around Chongqing, Guizhou and Liaoning.”

Luo Tong, Vice President of China Express, said, “The cooperation not only connects the networks of the two carriers, but also make a trunk route carrier and a feeder carrier complement each other. The feeder market will enter a fast track by benefiting from the well-established trunk routes. So the point-to-point operations of the feeder market will be supported by trunk route operations. China Express is quite committed to making medium- and small-sized cities more accessible, and the most effective way of doing that at the lowest social costs is to fully take advantage of the network of trunk routes to grow the feeder market.”

Air China is China’s only national flag carrier and also the largest carrier between China and Europe and between China and America. Its route network serves over 162 destinations in 32 countries and regions worldwide. China Express is a carrier operating feeder routes for passenger and cargo transportation. The codeshare cooperation between Air China and China Express blazes the trail for partnership between trunk route carrier and domestic feeder carrier, make more products available to the domestic market, giving passengers in more travel options, promote the cultural exchanges of second-tier and third-tier cities with other parts the country, facilitate regional economic development, and further promote the development of China’s feeder route market.

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Avis Announces New Partnership with SriLankan Airlines

SriLankan Airlines’ Frequent Flyers, FlySmiLes members, are valued more with chances to earn points and enjoy discounts on rental cars from Avis

SINGAPORE, Aug. 29, 2014 /PRNewswire/ — Avis, today announced a new partnership agreement with SriLankan Airlines the national carrier of Sri Lanka and the newest member of the oneworld alliance. Through the new partnership, the Airline’s frequent flyers, FlySmiLes members will have the opportunity to earn and redeem miles from Avis car rentals. In addition, Avis’ products and services will be marketed to FlySmiles members on the FlySmiLes website: http://www.flysmiles.com/.

“We are more than excited to align our brand loyalty efforts with SriLankan Airlines,” said Patric Siniscalchi, President, Latin America/Asia Pacific, Avis Budget Group. “This partnership will enhance the value proposition for FlySmiLes’ customer loyalty program and bring us incremental business at the same time, giving us the opportunity to accelerate our growth in the Southeast Asia.”

SriLankan Airlines, Head of Commercial Operations, Mohammed Fazeel said, “SriLankan Airlines is delighted to have Avis on-board, which will provide our frequent flyers more opportunities to earn and redeem miles whilst on business or holiday. We have been expanding our strategic partnerships with service-providers of high calibre to provide our FlySmiLes members the best possible experience.  With SriLankan’s entry to oneworld in May this year, FlySmiLes members now have the opportunity to enjoy a wide range of benefits in addition to earning and redeeming miles when flying with the oneworld carriers.”

To celebrate the new partnership, Avis offers the FlySmiLes members Double and Triple bonus FlySmiLes miles on qualifying rentals.

For More Information: Call Reservations Hotline 1800 737 1668 (toll-free)

About Avis in Asia

In Asia, Avis is a leading provider of vehicle rental; vehicle leasing and limousine/chauffeur drive services operating in more than 300 locations through a network of wholly owned subsidiaries, joint ventures and licensee agreements in 18 markets. Avis opened its first operations in Asia in 1970 in Hong Kong. Throughout the 1970’s Avis grew steadily in the region, with operations launched in Singapore, the Philippines, Pakistan, Malaysia and Indonesia. More recently, developments have included openings in India, Mainland China, Vietnam and Taiwan.

About Avis

Avis Car Rental operates one of the world’s best-known car rental brands with approximately 5,450 locations in more than 165 countries. Avis has a long history of innovation in the car rental industry and is one of the world’s top brands for customer loyalty. Avis is owned by Avis Budget Group, Inc. (NASDAQ: CAR), which operates and licenses the brand throughout the world. For more information, visit www.avis.com.

About SriLankan AirLines and FlySmiLes

SriLankan Airlines being the  National carrier of Sri Lanka, is an award winning carrier with a firm reputation as a global leader in service, comfort, safety, reliability, and punctuality . The airline has cemented a firm reputation worldwide for its service, comfort, safety and reliability, notching many enviable industry awards along the way. These awards include the, World’s Friendliest Cabin Staff by Skytrax; Best Airline in South Asia from Travel Trade Gazette; World’s Most Reliable Operator of Airbus A330s and A340s by Airbus Industries and the Etihad Global Excellence Award for Best Regional Caterer.

The airline’s hub is located at Bandaranaike International Airport in Colombo, providing convenient connections to its global route network of 60 destinations in 33 countries in Europe, the Middle East, South Asia, Southeast Asia, the Far East, North America and Australia. SriLankan has mutual code-share services with BMI (British Midland), Etihad and Malaysia Airlines. Indian Airlines , Saudi Arabian Airlines, Air Canada and Mihin also code-share on some of SriLankan’s routes. SriLankan has consistently achieved very high marks for excellence, especially in polls of global travellers and has won many international accolades consistently.

For further information please contact:

Grace Banto
Avis Asia
+65-6737-1668
grace.banto@avis.com.sg

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Hyatt Regency Suzhou Opens in Eastern China

SUZHOU, China, Aug. 29, 2014 /PRNewswire/ — Hyatt Regency Suzhou today announced the opening in Suzhou, one of the most important economic, cultural and historic cities of Eastern China, neighboring Shanghai.

VIPs at the Grand Opening of Hyatt Regency Suzhou

VIPs at the Grand Opening of Hyatt Regency Suzhou

 

Charity Donation from Hyatt Regency Suzhou and Jinghope, the owning company of the hotel

Charity Donation from Hyatt Regency Suzhou and Jinghope, the owning company of the hotel

 

29-floor high atrium at Hyatt Regency Suzhou, the highest in the city

29-floor high atrium at Hyatt Regency Suzhou, the highest in the city

The city of Suzhou, known as “the Venice of China,” is renowned for its ancient canals, stone bridges and UNESCO-listed classic gardens. Hyatt Regency Suzhou provides contemporary comfort and high-tech amenities to business and leisure guests in the thriving heart of this historic city.

“We are thrilled that Hyatt Regency Suzhou is now part of this vibrant community. The opening of Hyatt Regency Suzhou is a strategic step for Hyatt as we grow our brand presence in China,” said Christopher Koehler, vice president of operations – China, Hyatt. “We believe that the authentic hospitality and care delivered by our colleagues will be well received by the hotel’s guests and the community. We look forward to fostering meaningful connections among business and leisure travelers around the world.”

Strategically nestled in the Suzhou Industrial Park (SIP) with a subway station at its doorstep, Hyatt Regency Suzhou is part of Jinghope Plaza, a new complex project that includes a luxury shopping mall, entertainment venues and two Grade-A office buildings.

Hyatt Regency Suzhou is a key connecting point between Suzhou and Shanghai, offering easy accessibility to visiting guests. It takes just 25 minutes by train to reach Shanghai, one hour by car to reach Shanghai Hongqiao International Airport, and 10 minutes by car to reach Suzhou SIP Railway Station, the transportation hub of Yangtze River Delta region. Neighboring the picturesque Jinji Lake, Suzhou Culture and Arts Center, Suzhou International Expo Center and the Ferris Wheel Park, Hyatt Regency Suzhou will also provide a convenient blend between the ancient Suzhou city and new district.

The hotel offers 355 spacious guestrooms and suites plus a Regency Club. There are five restaurants and lounges, more than 15,000 square feet of innovative meeting, event and wedding venues, and spa and wellness facilities.

The refreshing, contemporary design by LTW Designworks features a breathtaking 29-story triangular atrium topped with a glass roof. The interior design is inspired by Suzhou’s classic gardens offset by large-scale contemporary artworks and abstract patterns that reference the modern face of Suzhou.

“We are delighted to introduce the Hyatt Regency brand’s signature world-class dining, hospitality and amenities to one of China’s most historic cities,” said Gary Chan, general manager of Hyatt Regency Suzhou. “As the first Hyatt hotel in Jiangsu province, Hyatt Regency Suzhou will be an inspiring place to connect, dine, meet, celebrate and relax in the city. With an energetic team of expert planners and passionate hoteliers, we are ready to welcome our guests from the neighborhood and around the world.”

Contemporary Accommodation

Hyatt Regency Suzhou’s 355 contemporary guestrooms encircle an eye-catching 29-story atrium, offering impressive city views from every room. The bright, modern design incorporates Suzhou stylistic influences – from a large black-and-white mural featuring snapshots of classical architecture and garden images to woven cane lanterns and an abundance of natural woods and textures.

Starting at a spacious 430 square feet, all guestrooms offer premium amenities, including: a large-screen LED TV with satellite channels and free on-demand movies; coffee and tea sets; individually controlled air conditioning; and complimentary high-speed broadband/Wi-Fi Internet access. An oversized table is equally comfortable as a work desk and dining table. Bathrooms feature a deep-soaking tub, spacious shower and separate toilet, plus all-natural bath products.

Regency Suites, starting at 968 square feet, feature a separate living/dining area, a coffee machine and freestanding window bathtub. The Regency Club provides the highest level of personalized services, including exclusive access to the 28th floor’s Regency Club lounge, serving complimentary breakfast, all-day refreshments and evening cocktails. Guests can also enjoy the Regency Club boardroom, express check-in/out and dedicated receptionist and concierge services.

Destination Dining

Hyatt Regency Suzhou brings Hyatt-renowned dining experiences to Suzhou with five destination restaurants and lounges. The hotel offers both international flavors and authentic local dishes with fresh seasonal ingredients.

Ascending the grand staircase from the lobby, the second floor’s Hua Chi 88 is a vibrant Chinese dining restaurant serving authentic Suzhou and Huaiyang cuisines, Taihu Boat cuisine from nearby Tai Lake, and the city’s finest Peking Duck roasted over fruitwood in the traditional duck oven. Live show kitchens throughout the dining room add to the theatrical atmosphere. Six private dining rooms feature large windows and private bathrooms.  

The Fireplace on the third floor is an international grill restaurant with a sophisticated European bistro-style ambience. The open kitchen serves up Italian pizzas and grilled specialties. Wood-paneled walls, mounted animal heads and peacock blue, semi-circular booths make it a destination to impress. The Fireplace also features a mosaic and marble bar with a Manhattan vibe, ideal for relaxing before or after dinner with an artisanal cocktail, such as the signature Whisky Sour.

Tea House on the ground floor combines the conviviality of a traditional Chinese teahouse with a modern style, and it serves light snacks, beverages and cocktails. By day, it’s a great place to work, meet and socialize with free Wi-Fi. By night, Tea House transforms into a relaxed bar.   

Beneath the magnificent 29-story atrium, The Atrium is an elegant spot for informal meetings and gatherings. Market Café occupies a second-floor space with double-height windows where guests can eat out of the pan, off the grill and out of the wok. The freshest ingredients are used to create a la minute dishes from across China, Asia and the world, plus a delicious dessert selection.

Innovative Events and Weddings

Hyatt Regency Suzhou is the place for every occasion with more than 15,000 square feet of innovative meetings and events space.

The Residence is a new-concept events venue comprised of four multifunctional rooms with large French windows, hosting up to 360 guests. The rooms feature versatile sliding screens that open onto a large foyer, and a dedicated Loft Kitchen is fully equipped for creative dining experiences. The Residence is ideal for conferences, meetings and cocktail events. It is also a great choice for wedding parties and family gatherings.

Designed in contemporary style, the 6,240-square-foot Regency Ballroom can host up to 450 people for a cocktail event and 340 for a private dining event. The ballroom can also be divided into two rooms for smaller gatherings. A large VIP/Bridal Dressing Room and lounge are available. All venues are appointed with advanced technology and communications systems as well as complimentary wireless Internet connectivity. A private street-front entrance provides exclusivity.

Spa and Wellness Facilities

Yue Spa at Hyatt Regency Suzhou is designed to restore and maintain the natural equilibrium, or “yin yang,” which is critical to human wellbeing. Six private spa suites plus two reflexology areas provide a full range of body and facial treatments. Spa guests can enjoy the hydrotherapy facilities featuring Roman-style baths and an oversized steam room.

Signature treatment combines traditional Chinese techniques with using a choice of aromatherapy or therapeutic oils. Authentic Traditional Chinese Medicine (TCM) treatments are also available in Yue Spa, together with a certified TCM doctor and Tai Qi master ready for consultations and movement practice.

The hotel also features a 25-meter indoor swimming pool on the third floor with floor-to-ceiling city views. As an added artistic touch, the pool is framed by intricate mosaic artworks featuring scenes of old Suzhou canal. The 24-hour fitness center offers the latest cardio and strength equipment, which enables guests to share their workout stats via social media apps.

About Hyatt Regency

The Hyatt Regency brand is an energizing hotel brand that connects travelers to who and what matters most to them. More than 140 conveniently located Hyatt Regency urban and resort locations in over 30 countries around the world serve as the go-to gathering space for every occasion – from efficient business meetings to memorable family vacations. The brand offers a one-stop experience that puts everything guests need right at their fingertips. Hyatt Regency hotels and resorts offer a full range of services and amenities, including notable culinary experiences; technology-enabled ways to collaborate; the space to work, engage or relax; and expert planners who take care of every detail. For more information, visit hyattregency.com

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company’s subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara and Hyatt Ziva brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences® and Hyatt Residence Club®. As of June 30, 2014, the Company’s worldwide portfolio consisted of 563 properties in 48 countries. For more information, please visit www.hyatt.com.

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Air Seychelles and Hong Kong Airlines Sign Codeshare Agreement

HONG KONG, Aug. 28, 2014 /PRNewswire/ — Air Seychelles, the national airline of the Republic of Seychelles, and Hong Kong Airlines, an internationally-acclaimed SKYTRAX 4-star airline, have signed a codeshare agreement to provide travellers with enhanced connections in Asia, Africa and the Middle East.

Under the codeshare agreement, Air Seychelles will place its ‘HM’ code on Hong Kong Airlines’ flights between Hong Kong and the capital of Thailand, Bangkok. In return, Hong Kong Airlines will place its ‘HX’ code on Air Seychelles’ flights between the Seychelles and Hong Kong, as well as between Hong Kong and Abu Dhabi, capital of the United Arab Emirates#.

The agreement was signed this week by Manoj Papa, Chief Executive Officer of Air Seychelles, and Li Dianchun, Commercial Director of Hong Kong Airlines.

Manoj Papa said: “We are delighted to expand our network of codeshare partners with the addition of Hong Kong Airlines. As a leading international tourism destination, the Seychelles attracts a large number of travellers from across Asia, and through our codeshare agreement with Hong Kong Airlines, we are confident these volumes will continue to flourish. At the same time, residents of the Seychelles will benefit from direct access to the global finance and tourism hub of Hong Kong.”

Li Dianchun said: “This codeshare agreement is part of a comprehensive strategy to open up new markets and offer more choices to Hong Kong Airlines’ passengers. Our partner Air Seychelles is a well-respected airline that will successfully broaden our reach to the Seychelles and Abu Dhabi, two of the world’s fastest-growing and most exciting travel destinations. The agreement enables passengers to book any Hong Kong Airlines flight originating from China, Japan and Southeast Asia to Abu Dhabi and the Seychelles connecting through the Hong Kong hub. We anticipate strong demand on these routes and look forward to building our cooperation with Air Seychelles in the future.”

Tickets under the codeshare agreement can be purchased from 12 September 2014 for travel commencing on the same day# on the airseychelles.com or hkairlines.com websites. Bookings can also be completed through a travel agent, the airlines’ sales offices, or by calling the Air Seychelles’ Call Centre on +248 439 1000 or the Hong Kong Airlines Call Centre at +852 3151 1888 (Hong Kong) or +86 898 950715 (mainland China).

Details of the codeshare flights are as follows:

Routes

Flight No.

Departure*

Arrival*

Days of Operations

HKG – BKK

HX765/ HM5680

1810

1925

Daily

HX767/ HM5682

0055

0235

HX771/ HM5684

0750

0945

HX773/ HM5686

2315

0015+1

HX775/ HM5688

1215

1405

BKK – HKG

HX766/ HM5681

2025

0055+1

HX768/  HM5683

0825

1210

HX772/ HM5685

1125

1530

HX774/ HM5687

0210

0555

HX776/ HM5689

1505

1850

Routes

Flight No.

Departure*

Arrival*

Days of Operations

HKG – AUH

HX 1087/ HM 087

1910

2340

Mon/ Wed/ Fri

HKG – SEZ

HX 1087/ HM 087

1910

0635+1

Mon/ Wed/ Fri

SEZ – HKG

HX 1086/ HM 086

1555

0955+1

Tue/ Thu/ Sun

AUH – HKG

HX 1086/ HM 086

2155

0955+1

Tue/ Thu/ Sun

* All local time

#Subject to regulatory approvals.

Manoj Papa, Chief Executive Officer of Air Seychelles, and Li Dianchun, Commercial Director of Hong Kong Airlines, sign a codeshare agreement between the two airlines

Manoj Papa, Chief Executive Officer of Air Seychelles, and Li Dianchun, Commercial Director of Hong Kong Airlines, sign a codeshare agreement between the two airlines

– Ends –

About Air Seychelles

Air Seychelles was established in 1978 and began long-haul service in 1983. The airline currently offers international flights to Abu Dhabi, Hong Kong, Johannesburg and Mauritius. Air Seychelles also offers more than 200 domestic scheduled flights a week throughout the archipelago, as well as domestic charter services.  As the national airline of the Republic of Seychelles, Air Seychelles is a pillar of tourism, the island nation’s strongest and growing economic sector. The airline maintains a strategic partnership with Etihad Airways, the national airline of the United Arab Emirates and 40 per cent stakeholder. For more information, please visit: www.airseychelles.com.

About Hong Kong Airlines

Established in 2006, Hong Kong Airlines has since grown to become an internationally-acclaimed carrier. Recognizing the warmth of its service and the quality of its onboard offering, Hong Kong Airlines has been awarded the highly-esteemed 4-star rating from SKYTRAX for three consecutive years. Based in Hong Kong, Hong Kong Airlines’ network currently covers almost 30 cities regionally, including Beijing, Shanghai, Sanya, Bangkok, Bali and Okinawa. Our current fleet has 23 aircraft, which includes three Airbus A330-300s, nine Airbus A330-200s and six A320s, with up-to-date inflight entertainment system and an average age of just one year as of 2013. And our cargo fleet consists of five Airbus A330-200Fs. Adhering to the concept of “Fresh and Very Hong Kong”, Hong Kong Airlines is committed to “Bringing Greater Journeys Sky High”, and is dedicated to providing an extraordinary flight experience to the passengers. For more information, please visit: www.hkairlines.com.

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Insurance Segment Taking Shape, Investments Gathering Strengths: Fosun Adheres Comprehensively to the Warren Buffett Model

HONG KONG, Aug. 27, 2014 /PRNewswire/ — Fosun International Limited (together with its subsidiaries, “Fosun” or the “Group”, HKEx stock code: 00656) announces today its interim results for 2014. As at June 30, 2014, net assets attributable to owners of the parent of the Group amounted to RMB43.99 billion, up 11.0% from end-2013. Profit attributable to owners of the parent of the Group amounted to RMB1.83 billion, up 8.4% from the same period of 2013.

Fosun has been persistently making a major stride towards becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented comprehensive financial capability” and “industrial-rooted global investment capability” since the beginning of 2014 to date. Following the completion of the acquisition of the three insurance companies namely Fidelidade, Multicare and Cares under Caixa Seguros e Saude (“CSS”) of Portugal (“Fosun Insurance Portugal”); the successful investment in one of the largest independent private banks in Europe, BHF of Germany; the successful acquisition of the Japanese real estate capital management firm IDERA; and signing of an equity purchase agreement with the US insurance company Ironshore Inc., the Group’s “insurance-oriented comprehensive financial capability” under the twin drivers development model has already taken on firm foothold. Meanwhile, Fosun will continue to leverage and pursue its another driver of “industrial-rooted global investment capability”, seeking to deliver more successful investment cases under the value investing principle.

Insurance funds available for investments close to RMB120 billion

Significant enhancement of Fosun’s “insurance-oriented comprehensive financial capability”

Fosun has always been considering the development of the insurance business as a premium path in connecting its investment capability to long-term high-quality capital. Currently, Fosun’s insurance business comprises over one-third of its total assets. Fosun’s latest investment in insurance business was signing an equity purchase agreement with the US insurance company Ironshore Inc., for acquisition of 20% of its total outstanding ordinary shares (on a fully diluted basis) and to become its largest shareholder. Excluding the investment in Ironshore of which the acquisition has not yet been closed and completed, Fosun’s insurance segment comprises four companies, namely Yong’an P&C Insurance, Pramerica Fosun Life Insurance, Peak Reinsurance and Fosun Insurance Portugal, constituting a comprehensive insurance platform underpinned by property and casualty, life, and re-insurance. Following the successful completion of the Fosun Insurance Portugal acquisition on May 15, 2014, Fosun successfully matched and commenced a total of 14 equity and debt investment projects for Fosun Insurance Portugal, including investments in the Portuguese power grid company Redes Energeticas Nacionais SGPS, S.A. (REN), China’s leading film distributor with an integrated business chain Bona Film Group, etc., aggregating an investment amount of approximately EUR460 million. Leveraging its successful connection to Fosun’s investment capability, the profit attributable to owners of the parent of insurance segment amounted to RMB114.5 million during the first half of 2014, up 19.9% from the same period of 2013, with an investible fund stood at approximately RMB119.06 billion.

Besides investing in the insurance segment, Fosun also extended its footholds to the comprehensive financial area including banking, real estate capital management, securities brokerage and asset management. Fosun succeeded in investing in one of the largest independent private banks in Europe, BHF of Germany in the first half of 2014. For this transaction, Fosun acquired an approximately 19% interest in KBG to secure an indirect ownership of the BHF and the well-established UK private bank with a very long history, Kleinwort Benson, thereby gaining footholds in two big financial hubs, Frankfurt and London. Fosun will capitalize on their connections with billionaires and family enterprises to establish a platform and a network for Fosun’s investment businesses in Europe. It is the first time Fosun holds indirect interests in a private-banking business which will successfully enhance its comprehensive financial capability. In addition, Fosun completed the acquisition of a 98% equity interest in a Japanese real estate capital management firm IDERA. Japan is one of the important markets in the global property investment mix for institutional investors. IDERA will become the most important property investment and management platform in Japan for Fosun. After the IDERA acquisition, the Group can efficiently acquire capital and asset management capability in the Japanese property market. In July 2014, Fosun acquired Hong Kong Hani Securities (It is still waiting for the final approval by the SFC). Hani Securities has licenses including for dealing in securities and assets management. Looking forward, it will help secure a foothold for Fosun in supporting “Shanghai-Hong Kong Stock Connect” and start pursuing differentiated assets management business in Hong Kong, while engaging in further development with Fosun’s other financial platforms.

Investments gathering strengths

Accomplished successful large-scale global value investment cases based on deep industrial footholds in China

During the first half of the year, Fosun sped up establishment of localized investment capabilities in overseas markets. It proactively invested in local platform entities, put together local partner teams in Europe, the US, Japan, Hong Kong, Southeast Asian countries and regions. Ripping benefits from the significant acceleration of globalization of China’s growth momentum, Fosun completed many investments across Asia, Europe and North America. Fosun’s global investment strategies are based on “benefits from China’s growth momentum” to further implement its “industrial-rooted global investment capability”, accomplishing a long list of value investment cases.

On the top of its successful investments in the global leisure resort hotel chain Club Med of France and the Greek renowned fashion retail group Folli Follie, etc., Fosun took its “Combining China’s Growth Momentum with Global Resources” investment model further. Since last year until lately, Fosun and funds under its management invested, respectively, in the US high-end female apparel brand St. John, the premium Italian menswear manufacturer Caruso, the world’s leading medical and cosmetic energy-based device manufacturer Alma Lasers originated in Israel, the largest lifestyle restaurant chain group in Southeast Asia Secret Recipe, a leading German fashion and lifestyle brand TOM TAILOR, as well as a renowned Spanish premium ham, wines and spirits producer Osborne Group. Fosun believes in co-operation with its investees and partners to discover and share investment opportunities brought about by China’s sustaining economic growth.

Fully “Embracing the Mobile Internet”: already become a major mobile internet investor in China

Facing the comprehensive reform brought about by the internet, Fosun proactively implement its “Embracing the Mobile Internet Strategy”. Following the successful investment in Perfect World and completion of the Focus Media privatization, Fosun and funds under its management expanded their mobile internet investments comprehensively in many areas, including the internet medical company Scanadu; the online education companies such as Mofangge, and Uniquedu; the mobile game portal Joyme.com; and the online travel company Lailaihui.com; and Southeast Asia mobile internet company Main Spring, etc. Furthermore, Fosun also invested in high-growth traditional industries ancillary to the internet, including distribution warehousing, freight express, smart logistics systems, etc., such as China Smart Logistics Network (CSN) “Cainiao”. Fosun and funds under its management also invested in and pushed forward traditional enterprises to innovate and achieve O2O, for example, invested successfully in Ali Small-Loan and participated in its rapid growth. In the first half of 2014, the Group has a total of 18 PE and VC projects in the internet sector, for investment amounts aggregating approximately RMB1.85 billion.

Spearheaded investments in industries associated with middle-class lifestyles

Exponential growth in successful cases of experience-driven consumption and consumption upgrade

China’s middle class population is growing rapidly, and the middle class lifestyles are set to become the major driver of consumption in the country. Fosun is eyeing on investment opportunities brought about by the changing lifestyles of the middle class in China, extending its footholds in experience-driven consumption in tourism and the filming and television entertainment industry, as well as focusing on investments in consumption upgrades, etc.

Fosun further extended its investment footholds in experience-driven consumption in the first half of 2014, initiated at a high starting point in the filming and television entertainment industry by investing in Studio 8, an US Hollywood multi-platform media company; increased its holding in Bona Film Group and became the second largest shareholder; and signed a strategic cooperation agreement with one of China’s largest and strongest modern film groups Shanghai Film Group. For experience-driven tourism consumption investments, besides the investment in China International Travel Services and the increased holding in Shanghai Yuyuan Tourist Mart, Fosun continued to develop the world’s third ultimate high-end hotel and ocean theme park Atlantis Resort along the Haitang Bay National Coast in Sanya, Hainan, with Kerzner Group, while facilitated Club Med’s expansion in China and on the heels of Yabuli and Guilin resorts, Club Med has already beta-launched its third resort in China this year. Meanwhile, Fosun persists in its focus on investments in consumption upgrades. Since the beginning of 2014 to date, Fosun and funds under its management invested in the leading lifestyle restaurant chain group in Southeast Asia Secret Recipe, a renowned Spanish premium ham, wines and spirits producer Osborne Group, a leading German fashion and lifestyle brand TOM TAILOR etc.

Transformation of traditional property businesses: Full landing of “Hive Community”, a PPP urbanization model that pioneered provision of core urban functions, industry-backed urban development and urban-industry integration

Implementing the new model of urbanization is a major highlight of the Central Government, and a major driver of the sustaining economic development in China. Hive Community is a product integrated Fosun’s industrial resources to assist local governments in the construction of core urban functions, with a key feature of “industry-backed urban development and urban-industry integration”. Through providing core urban functions required by the cities, Fosun is able to take a lead in introducing its core industrial resources and to further introduce ancillary industries that support the core industries, with a view to promoting “Urban-Industry integration” by establishing a 24-hour plus 3-in-1 vibrant community for work, consumption and living, as well as introducing living and consumption services industries. The Hive Community products, therefore, provide clear and distinctive functions with active dispersal of peripheral services. They also provide adequate and diverse job opportunities (no more dormant cities, ghost cities), seeking to constitute functional communities that drive employment by industries. As such, a new model of communities which is self-sufficient and built with flexible combination of modules comprising different functions are established.

In the first half of 2014, Fosun combined its resources to fully extend property businesses migration, securing a foothold to the “Hive Community” development. Currently, Fosun has been exploring actively in this area with several satisfactory case studies: Financial Hive BFC on the Bund in Shanghai and Chengdu Financial Hive; Healthcare Hive — Shanghai Starcastle Senior Living community; Culture Hive — Shenyang Yulong City and Dongyang Woodcarving City; Tourism Hive — Atlantis Resort in Hainan; and Logistics Hive Tian Mao Plaza in Xiangyang and Ankang; comprising GFA aggregating 3.96 million sq.m.

Signficant results from long-term vigilance on and grasping of opportunities from China’s SOE mixed ownership reforms

The Third Plenary Session of the 18th Communist Party of China Central Committee proposed to “actively participate in mixed ownership reforms” which confirmed the overall direction for SOE reforms. Mixed ownership reforms are an important move for China’s further reform and opening up, deepening the SOEs reform and enhancing the state-owned assets management system and the economic system. In the past ten years, Fosun actively invested in 21 SOE restructuring projects in a number of industries, accomplished a base of valuable experiences. To grasp opportunities in history, Fosun has been actively participating in mixed ownership reforms since The Third Plenary Session of the 18th Communist Party, and invested in several leading corporates in China as Sanyuan Food in dairy industry, CNFC Fishery in overseas fishing industry and Zhongshan Public Utilities in professional environmental protection industry. (Sanyuan Food project and CNFC Fishery project are still waiting for final approval by the China Securities Regulatory Commission)

Outlook

Led by a spiritual courage of “Reinitiating two decades of entrepreneurship”, Fosun will follow the trends by combining resources, continue to enhance and implement its twin drivers of “insurance-oriented comprehensive financial capability” and “industrial-rooted global investment capability”, enabling the Group to better and timely grasp the value investing opportunities and making a major stride towards becoming a world-class investment group.

Rail Passenger Numbers Rise as Operators across the Globe Utilize Mobile Ticketing Options

Frost & Sullivan: Rail operators’ mobile presence develops easier ticket purchasing methods

MOUNTAIN VIEW, Calif., Aug. 26, 2014 /PRNewswire/ — Travel and purchasing patterns of rail users globally are extremely dynamic in nature. Even though rail systems in the same geography are subject to similar environments, they tend to show hugely different ridership patterns as several social, economic, political and technological factors determine patronage.

A new database from Frost & Sullivan, Strategic Dashboard of Global Rail Passenger Volumes, provides passenger volume metrics for 538 rail operators in 2013. Key figures such as passenger volumes, total passenger movement in passenger kilometer, revenues from rail tickets, and the minimum, maximum and average ticket price have been included in the database. In addition, detailed parametric modeling has been utilized to estimate the sales channel split based on social and economic factors as well as rail performance indicators.

For complimentary access to more information on this research, please visit: http://bit.ly/1vfVvT8

“Mobile ticketing is rail transport’s newest offering, which is quickly gaining presence and boosting passenger volumes,” said Frost & Sullivan Automotive & Transportation Research Analyst Shyam Raman. “With the growth of application stores and the use of personal computing devices such as tablets and smartphones, rail operators across the globe have been pushed to increase their mobile presence.”

However, mobile ticketing has not quite taken off with some customers, who prefer to use familiar ticket procurement methods even if they are less convenient or involve more effort. This, along with server crashes and the lack of Internet access is dampening the adoption of mobile ticketing.

“Rail operators will have to strategize to deal with resistant customers in order to popularize mobile ticketing,” advised Raman. “They must also address server-related issues to support this endeavor.”

Strategic Dashboard of Global Rail Passenger Volumes is part of the Transportation & Logistics (http://www.transportation.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Executive Analysis of the Global Rail Industry 2014, Opportunity Analysis of the Eastern European Rail Market: A 360-degree Perspective, and Strategic Analysis of Light Rail Transit in North America. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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The Forefront of Japan’s Subculture — the Ever Evolving “Akihabara”

TOKYO, Aug. 25, 2014 /PRNewswire/ — “Akihabara“is well known to those not only in Japan but also overseas as “the City/Mecca of Electronics & Home Appliances”. You will still see a lot of major home electronics retailers lined up side by side, and many people from the country and all over the world have made visits to the city looking for Japan’s electronic appliances for decades. However, the city has now evolved brilliantly throughout the changes of a new era. Nowadays, “Akihabara” not only represents a name of a city, but also became an iconic figure that embodies Japan’s own subculture. Japan’s unique subculture scene largely represented by this city attracts travelers from all over the world. Akihabara, which is continuously evolving its appearance every minute, also owns its very unique in-station facility that fittingly serves as an entrance to the city. Here we will introduce you to some of the newest faces in Akihabara you will likely encounter in the station or somewhere under an elevated structure:

Why don't you get Japanese souvenirs and the hot items in Akihabara?

Why don’t you get Japanese souvenirs and the hot items in Akihabara?

An art-turned train! Even a non-hardcore fan should stop by — TRAINIART

Atre Akihabara 1is connected directly to JR East Railway Akihabara station’s Electric Town exit (or “Denki-gai” exit). On the 2nd floor you will find TRAINIART, a  boutique shop selling railroad/train merchandises. Here you will find a vast variety of railroad/train designed goods, from stationaries to accessories, all focused on both [design] and [functionality]. You will notice most of these goods are well-suited for its own brand name -ART”, all richly designed, stylishly finished that one would definitely be tempted to pick them up in their hands, and are very popular among the females. You can also find a pair of train-designed T-shirts tailored for parent-child; you would definitely find a train-designed merchandise of your own that you would probably want to bring home.

CHABARA”NOMONO” – For those looking for tasting/bringing home Japan’s regional local gourmet foods

In Japan, you will encounter distinctive local gourmet foods in each region throughout the country. Wouldn’t it be nice if you could enjoy all sorts of gourmet foods from all regions in Japan even if you could only stay in Tokyo?

That’s when we highly recommendCHABARA, located under an elevated bridge connecting JR Akihabara Station and Okachimachi Station. You will find a rich variety of specialty goods, seafoods, and soil foods delivered directly from local producers throughout the country. Perhaps, it’s a good idea to make gifts to your friends with soy-sauce, miso, tonkotsu (or pork bone soup) or other unique ramen noodles delivered from local producers, or for anybody, whose dad loves Japanese Sake, why not make a gift for him with a Japanese Sake processed with pure water and high quality grain of rice!

On the other hand, NOMONO, located inside Akihabara Station, is “A shop introducing the allure of Japanese food” that is always crowded with visitors as, albeit its somewhat limited space, it is conveniently located inside the station. At NOMONO Kitchenlocated on 2nd floor, you will enjoy the aspects of traditional local culture and all sorts of menu filled with highly selective and seasonal ingredients from the east regional Japan.   

In Akihabara, the city that constantly provides us with the latest cultural ingredients, its nearest station is equally unique as well. As the forefront of Japan’s cultural movement, we highly encourage you to visit there.

Stallone and Schwarzenegger Light Up Star-Studded Venetian Macao Red Carpet at The Expendables 3 Special Screening

The Venetian Theatre hosts Asia’s only special screening of blockbuster film

MACAO, Aug. 23, 2014 /PRNewswire/ — The stars shone brightly Friday night at The Venetian Theatre, as international icons Sylvester Stallone and Arnold Schwarzenegger walked the red carpet at The Venetian®Macao for Asia’s only special screening of their latest film, The Expendables 3, marking their first-ever visit to Macao and the iconic integrated resort.

Sylvester Stallone and Arnold Schwarzenegger walk the red carpet at The Venetian Macao Friday for Asia's only special screening of their latest blockbuster film, The Expendables 3.

Sylvester Stallone and Arnold Schwarzenegger walk the red carpet at The Venetian Macao Friday for Asia’s only special screening of their latest blockbuster film, The Expendables 3.

With a throng of enthusiastic fans lining the red carpet clamouring for the stars’ attention, the special screening of The Expendables 3 was part of the series of activities celebrating The Venetian Macao’s 7th anniversary Aug. 28. Stallone and Schwarzenegger also participated in a handprinting ceremony while the captivated crowd looked on, laying down their handprints and signatures for Cotai Strip Resorts Macao’s Bridge of Stars Gallery.

Sylvester Stallone and Arnold Schwarzenegger take part in a hand printing ceremony at The Venetian Macao Friday for Asia's only special screening of their latest blockbuster film, The Expendables 3.

Sylvester Stallone and Arnold Schwarzenegger take part in a hand printing ceremony at The Venetian Macao Friday for Asia’s only special screening of their latest blockbuster film, The Expendables 3.

Joining the blockbuster film’s iconic lead actors at the red carpet event were Olympian, undefeated UFC bantamweight champion and The Expendables 3 cast member Ronda Rousey, who is in town for Saturday’s UFC Fight Night Macao at The Venetian Macao, and Hong Kong celebrities Jessica C., Joyce Lee, Loretta Chow, Phillip Ng, Timmy Hung and Janet Chau.

Sylvester Stallone, Sands China Ltd. President and CEO Edward Tracy, Arnold Schwarzenegger and Nu Image, Inc. and Millennium Films Chairman and CEO Avi Lerner walk the red carpet at The Venetian Macao Friday for Asia's only special screening of their latest blockbuster film, The Expendables 3.

Sylvester Stallone, Sands China Ltd. President and CEO Edward Tracy, Arnold Schwarzenegger and Nu Image, Inc. and Millennium Films Chairman and CEO Avi Lerner walk the red carpet at The Venetian Macao Friday for Asia’s only special screening of their latest blockbuster film, The Expendables 3.

“It was a great thrill for everyone involved to see these two legends of Hollywood come to Macao for this special screening, from the fans lining the red carpet to our guests in the theatre,” said Edward Tracy, President and Chief Executive Officer of Sands China Ltd. “We’re very pleased that this event provided us with an opportunity to deliver world-class entertainment while casting the spotlight on Macao as a global destination.”

Celebrity-attended events like Friday’s special screening of The Expendables 3 are part of Sands China’s multi-tiered entertainment strategy, which is aimed at raising Macao’s profile as a world centre of tourism and leisure, providing a diversity of entertainment choices for the millions of guests and visitors experiencing Cotai Strip Resorts Macao each year.

Spanning a multitude of event types and venues, whether commanding the attention of a sold-out Cotai Arena audience or enchanting a packed Venetian Theatre, superstars of music, film, television and sports that have visited the integrated resort city include the Rolling Stones, Rihanna, Beyoncé, Lady Gaga, , Alicia Keys, Justin Bieber, Eason Chan, Jay Chou, Ricky Martin, David Beckham, Manny Pacquiao, Tiger Woods, Yao Ming, Kobe Bryant, Roger Federer, Kevin Spacey Nicole Kidman, Nicolas Cage, Quentin Tarantino, Michelle Dockery, Jeremy Irons, Jackie Chan, Sam Worthington, Matthew Perry,  Zhang Ziyi, Chow Yun Fat, Nicholas Tse and so many more.

In The Expendables 3, the most star-powered film franchise in history raises the bar to unprecedented heights with a dream team of global superstars, explosive stunts and mind-boggling weaponry as the mercenary group comes face to face with ruthless arms dealer and Expendables co-founder Conrad Stonebanks whose mission is to wipe out the entire team.

Celebrations for The Venetian Macao’s 7th anniversary continue over the weekend, with the high-octane UFC Fight Night Macao at the Cotai Arena Saturday evening.

Sydney Festival 2015 Headline Act Announced in Southern Hemisphere Exclusive

James Thierree brings Tabac Rouge to Sydney

Travel packages announced

SYDNEY, Aug. 22, 2014 /PRNewswire/ Destination New South Wales (DNSW), the NSW Government’s tourism and major events agency, and Sydney Festival have announced the headline act for 2015 — the renowned James Thierree will return to Sydney Festival with Tabac Rouge, his largest and most extravagant work to date, in a Sydney and Southern Hemisphere exclusive.

James Thierree's spectacular theatrics are coming to Sydney Festival 2015 with Tabac Rouge

James Thierree’s spectacular theatrics are coming to Sydney Festival 2015 with Tabac Rouge

Acrobat, musician, dancer, actor, mime, choreographer — Thierree is returning to Sydney Festival for the fourth time after sell-out seasons of Junebug Symphony (2003), Bright Abyss (2006) and Au Revoir Parapluie (2008). In Tabac Rouge, Thierree pushes the boundaries of dance, circus and theatre in the roles of director, choreographer and set designer to deliver a performance that Thierree describes as being about “desire, power, systems and mechanisms of society, and of how people organise themselves”.

Tabac Rouge, which will run from 7-23 January at Sydney Theatre, features a highly skilled cast of acrobats and dancers who weave a physically daring production filled with spectacular theatrics under Thierree’s unique direction. The choreography is complemented by Victoria Thierree’s costume design and a dynamic score that ranges from Matthieu Chedid to Vivaldi.  Tabac Rouge contains no spoken word, making the performance ideal for international visitors to enjoy without language barriers.

Sydney Festival 2015 will feature hundreds of world class events and attract visitors from all over the globe. The full 2015 program will be announced on 23 October 2014, however visitors are encouraged to book now to take advantage of great value travel packages and avoid disappointment.

Three packages are on offer:  

The Star*

  • One night’s accommodation at luxury hotel, The Darling
  • $50 Food and Beverage credit to enjoy at The Star’s bars, signature restaurants (Balla, Black by Ezard & Sokyo) and Fat Noodle
  • Premium or A Reserve ticket to Tabac Rouge 
  • Quote promo code SYDFEST15 (case sensitive) when booking online only. Or call Guest Services 1800 800 830

Visit star.com.au/sydneyfestival.

Accor Packages

Harbour Rocks Hotel – from $224 per person*

  • Overnight accommodation in a Heritage Queen room in Sydney’s historic Rocks area
  • Full Breakfast for served in Scarlett Restaurant  
  • A Reserve ticket to Tabac Rouge

Visit www.accorhotels.com/sydneyfestival.

Quay West Suites Sydney — from $270 per person*

  • Overnight accommodation in a 1 bedroom city view suite overlooking beautiful Sydney harbour
  • Breakfast for 2 in Harrington Restaurant
  • Premium ticket to Tabac Rouge

Visit www.accorhotels.com/sydneyfestival.

Tickets for Tabac Rouge are on sale now at www.sydneyfestival.org.au/tabac.

*Travel Package Conditions: Subject to availability. Credit Card details required to secure booking. Package prices are per person and are based on 2 guests per package, in queen bedding (Twin bedding available on request directly with the hotel). Packages are pre-paid and non-refundable.  Valid for bookings from 23 August – 12 October 2014 for stays between 09 – 22 January 2015, inclusive. Tabac Rouge tickets valid for performance on the day for which the accommodation is booked only.   

About Destination NSW:

Destination NSW is the lead Government agency for the New South Wales (NSW) tourism and major events sectors. Our role is to market Sydney and NSW as one of the world’s premier tourism and major events destinations; to secure major sporting and cultural events; to work in partnership with Business Events Sydney to win major international conventions and incentive travel reward programs; to develop and deliver initiatives that will drive visitor growth throughout the State; to achieve the NSW Government’s goal of doubling overnight visitor expenditure within the State by the year 2020.

From food and wine festivals to surf competitions, world class sporting events to celebrations of arts and culture, New South Wales has an Annual Calendar of Events that celebrates the diverse facets of Australian contemporary life. Sydney is unrivalled in Australia in its capacity to stage exclusive events that have the whole world tuning in. Destination NSW has been at the forefront in creating and winning world-class events that put Sydney on the global front page.

Media contacts:

Corrine Cowlishaw, +61299311462, corinne.cowlishaw@dnsw.com.au
Melissa Wilson, +61-299311156, melissa.wilson@dnsw.com.au  

Tabac Rouge is perfect for international visitors to Sydney to enjoy
Tabac Rouge is perfect for international visitors to Sydney to enjoy

 

Tabac Rouge will show at Sydney Festival in a Southern Hemisphere exclusive

Tabac Rouge will show at Sydney Festival in a Southern Hemisphere exclusive

Photo – http://photos.prnasia.com/prnh/20140821/8521404695-a
Photo – http://photos.prnasia.com/prnh/20140821/8521404695-b
Photo – http://photos.prnasia.com/prnh/20140821/8521404695-c

Feel Revived by Anantara Spa’s Eastern and Western Autumn Breeze Package at The PuLi Hotel and Spa

SHANGHAI, Aug. 20, 2014 /PRNewswire/ – Each changing season sheds the old and ushers in new beginnings, and Anantara Spa’s special Autumn Breeze package at The PuLi Hotel and Spa offers a unique combination of revered eastern and western therapies, available throughout September, October and November 2014.

Anantara Spa Massage Treatment

Anantara Spa Massage Treatment

 

Anantara Spa Massage Treatment

Anantara Spa Massage Treatment

Designed with Chinese and Thai influences, revealing views of Jing’An Park, Anantara Spa is a haven of contemporary luxury and tranquillity that feels a world away from bustling Shanghai.  Escorted to one of the five charming treatment suites, individuals and couples can look forward to far reaching health and beauty benefits when they book the Rejuvenating Winter Wellness package.

The ritual begins with a 90 minute Swedish Massage with Herbal Oil. Since it was developed nearly 200 years ago, Swedish Massage has become the foundation of most western massage techniques. Incorporating percussive, tapping movements and five variations of

strokes, each part of the body is manipulated to stimulate the nervous system, improve circulation and flexibility, and enhance physical and mental wellbeing.

Drawing on ancient Chinese wellness wisdom, a 30 minute Moxibustion Treatments tailored to each client’s needs, with a choice of selecting this specialist treatment for the shoulder and neck, lower back, or belly button.

Moxibustion is an ancient technique practiced in both traditional Chinese and Tibetan medicine to aid the body’s ability to heal itself.  This ancient Asian holistic therapy involves burning the herb mugwort to stimulate acupoints.  The radiant heat produced by the burning herbs penetrates deeply into the body, expelling cold and warming the meridians to stimulate the flow of blood circulation and vital energy, leading to improved general health and a wealth of specific benefits.  Moxibustion is used to treat cancer and chronic conditions such as arthritis, digestive disorders and ulcers, and since it increases circulation to the pelvis it is also used to encourage healthy menstruation and reduce menstrual cramps.  By invigorating healthy qi the immune system is strengthened, helping to prevent disease and increase longevity.

Traditionally there are two types of moxibustion.  In direct moxibustion, a small, cone-shaped amount of moxa is placed on top of an acupuncture point and burned.  For indirect moxibustion, a practitioner lights one end of a moxa stick and holds it close to the area being treated for several minutes until the area turns red. Acupuncture can also be incorporated, with a needle inserted into an acupoint and the tip wrapped in moxa and ignited, generating heat to the point and surrounding area. 

The Autumn Breeze ritual marries tradition and innovation by using a highly effective and safe machine lamp for the moxibustion treatment.  In this modern method the cover is placed on specific areas of the body that each client wishes to focus on.   The machine makes it easy for the therapist to adjust the temperature control and locate acupuncture points easily, while clients benefit from a comfortable experience without the fire and smoke that occurs with traditional methods.

Experience the relaxing and holistic benefits of the Autumn Breeze package for the special price of RMB 1, 480* per individual and RMB 2, 600* per couple, including a complimentary Anantara body care product worth RMB 380 to take home.

For reservations or more information about the Autumn Breeze package at The PuLi Hotel and Spa, please contact 3203 9999 ext. 6899 or email anantaraspa@thepuli.com.

Autumn Breeze  120mins

90 minutes Swedish Massage with Herbal Oil
30 minutes Moxibustion Treatment

You can choose any part of below Moxibustion Treatments during the massage

  • shoulder and neck moxibustion
  • low back moxibustion
  • belly button moxibustion

Give Away: A complimentary Anantara body care product valued RMB380

Special Price for Single / Couple: RMB1, 480* / 2, 600*

Available exclusively at Anantara Spa @ The PuLi Hotel and Spa from 1st September 2014 to 30th November 2014.* Price is subject to 15% Service Charge *Terms and Conditions apply

(*Not valid with other promotions or discounts. *Advance booking recommended.* Anantara Spa reserves the final decision.)

Editor’s Note:

About Anantara at The PuLi Hotel and Spa

As the first Anantara Spa in Shanghai, the tranquil urban sanctuary offers journeys of ritual significance by celebrating Anantara’s focus on indigenous indulgence and reflecting the PuLi Hotel and Spa’s resplendent charm and historic sensuality. 

Five treatment rooms are luxuriously appointed with natural features such as wooden flooring, stone walls and wooden beams, enhanced further by oriental accents and ambient lighting.  Two Double Suites, featuring a steam shower, bathtub, changing area and relaxation seating, are joined by three Single Suites complete with shower, changing and relaxation amenities.

Drawing on China’s healing past, ancient therapies from Thailand and India, as well as the very best in 21st century wellness techniques, Anantara Spa’s extensive menu is inspired by the renowned healing properties of tea – the centuries-old beverage that is woven into the very fabric of Chinese culture. Signature treatments draw from the detoxifying powers of Green Tea, balancing and anti-ageing force of White tea, health-giving properties of Chrysanthemum tea or beautifying properties of Rose Tea.

Discover award winning journeys, inspired by oriental beauty and wellness secrets, at Anantara Spa, The PuLi Hotel and Spa, Shanghai.

About Anantara

For hundreds of years throughout Thailand, people would leave a jar of water outside their house to provide refreshment and extend a welcome to the passing traveller. Anantara is taken from an ancient Sanskrit word that means ‘without end’, symbolising this sharing of water and the heartfelt hospitality that lies at the core of every Anantara experience.

From lush jungles to pristine beaches and legendary deserts to cosmopolitan cities, Anantara currently boasts 20 stunning properties located in Thailand, the Maldives, Bali, Vietnam, the United Arab Emirates and China; with future properties to open in Thailand, China, Laos, Mauritius, Sri Lanka, UAE and Oman.

For more information on Anantara Hotels, Resorts & Spas, please visit http://www.anantara.com .

For Spa Information:

Anantara Spa @ The PuLi Hotel and Spa
3F, 1 ChangDe Road, JingAn District, Shanghai 200040 China
Tel: +86-21-3203-9999 ext. 6899   
Fax +86-21-3251-8950

E-mail: anantaraspa@thepuli.com     
www.anantara.com

Galaxy Entertainment Group Reports Record Interim Results in 1H 2014

Record Net Profit Attributable to Shareholders of $6.0 Billion, Up 29% Year-On-Year

Record Group Adjusted EBITDA of $7.3 Billion, Up 26% Year-On-Year

Galaxy Macau™ Phase 2 On Schedule and On Budget to Complete As The Next Major Project in Macau by Mid-2015

Announced Enhanced Employee Benefits for Team Members

Announced $1.3 Billion GEG Charitable Foundation

Announced Another Special Dividend

HONG KONG, Aug. 19, 2014 /PRNewswire/ — Galaxy Entertainment Group Limited (“GEG” or “the Group”) (HKEx stock code: 27) today reported unaudited results for the three and six month periods ended 30 June 2014.

HIGHLIGHTS

GEG: Record Half Year Revenue, Adjusted EBITDA and NPAS

  • Half year revenue increased 25% year-on-year to $38.4 billion
  • Half year Adjusted EBITDA of $7.3 billion, up 26% year-on-year
  • Net profit attributable to shareholders grew 29% year-on-year to $6.0 billion
  • Second quarter Adjusted EBITDA of $3.5 billion, a year-on-year increase of 15%

Galaxy Macau™: Celebrates its Third Year Anniversary with Another Strong Performance

  • Half year revenue grew 38% to $25 billion, and Adjusted EBITDA surged 35% to $5.4 billion
  • Second quarter Adjusted EBITDA of $2.65 billion, grew 27% year-on-year

StarWorld Macau: Solid Half Year Performance Despite Bad Luck

  • Half year revenue grew 7% year-on-year to $12.3 billion, and Adjusted EBITDA up 9% to $1.9 billion
  • Second quarter Adjusted EBITDA of $822 million down 7% year-on-year due primarily to the worst VIP luck quarter in history

Development Update: Advancing with Clearly Defined Pipeline

  • Galaxy Macau™ Phase 2 — Remains on budget and on schedule to complete by mid-2015
  • Cotai Phases 3 & 4 — Site investigation works for the $50-60 billion resort due to commence later this year
  • Grand Waldo Complex — Plan to unveil plans in Q4 2014 and re-launching in early 2015
  • Hengqin Island — Continue to develop conceptual plans for a RMB10 billion resort on the 2.7 sq km land parcel
  • International — Continuously exploring opportunities in overseas markets primarily in Asia

Balance Sheet: Remains Well Capitalised and Liquid

  • Cash on hand at 30 June 2014 of $14.4 billion, up from $10.3 billion at 31 December 2013
  • Gearing ratio remains at zero as at 30 June 2014 with virtually no debt

Subsequent Events: Announced Enhanced Employee Benefits Package, GEG Charitable Foundation and Another Special Dividend

  • Announced enhanced employee benefits package for all 16,000 Macau general employees in August 2014
  • Celebrates 10th Anniversary in Macau by announcing the establishment of the $1.3 billion GEG Charitable Foundation on 4 July 2014
  • Special dividend of $0.70 per share paid to shareholders on 31 July 2014
  • Another special dividend of $0.45 per share to be paid on or about 31 October 2014

Dr. Lui Che Woo, Chairman of GEG said:

“We celebrated our ten year anniversary in Macau after achieving another half year of record financial results. Our continued success lies in consistently delivering memorable leisure and entertainment experiences to guests through our spectacular high quality resorts and our exemplary ‘World Class, Asian Heart’ service standards.

During the half year we made excellent progress in realising our primary strategic objectives across our flagship properties including enhancing our existing operations as the market evolves and building foundations for the Group’s long term sustainable growth. We are confident that Phases 2, 3 and 4 of GEG on Cotai, re-launching the Grand Waldo Complex, and our conceptual plans for Hengqin Island will enhance Macau’s world-wide reputation as a tourism capital, catalyse our earnings growth and maximise long term shareholder returns.

Reflecting the importance of our strong team and the critical role each and every member plays in our continued success, we recently extended an enhanced employee benefits package for all our 16,000 Macau general team members. These new incentive measures will help the Group to retain and attract high quality talent while maintaining the exemplary ‘World Class, Asian Heart’ service philosophy for which we are renowned.

Also, reflecting the importance we place on giving back to the community, we recently announced the establishment of the $1.3 billion GEG Charitable Foundation that will focus on educating and empowering young people in Macau and on the Mainland. I am deeply excited by this project and hope it can contribute to future stability and prosperity.

And finally on 31 July 2014, we paid a special dividend of $0.70 per share. I am pleased to announce another special dividend of $0.45 per share will be payable on or about 31 October 2014. This reflects our confidence in the outlook for the Group and for Macau.

Once again, I would like to thank every one of our team members in GEG for their commitment and contributions to the Group’s success.”

Market Overview

The Macau gaming market saw healthy growth in the half year as total gaming revenue increased by 13% year-on-year to $187.5 billion. Second quarter revenue grew at a more modest 6% year-on-year, largely as a result of more cautious spending due to a softer economy in China and the distraction of the 2014 FIFA World Cup. However, visitor numbers to Macau jumped 8% to 15.3 million, a faster rate of growth than that achieved in the same period last year. Arrivals from Mainland China now account for 67% of total visitors.

Macau’s growing appeal as a premier holiday destination with a broad array of entertainment and leisure options, was borne out by the higher margin mass segment revenue climbing an impressive 36% to $63.9 billion in the first half of 2014. This structural shift in the market will be sustained by major infrastructure improvement works such as the Guangzhou-Zhuhai Intercity Mass Rapid Transit and the Hong Kong-Zhuhai-Macau Bridge coming on stream in the near future, and increased domestic consumption on the Mainland. Additionally, the transformation of Hengqin Island into a new regional business and leisure hub, with new attractions such as the resort amusement park, will assist in attracting new visitors to the region.

The VIP segment, which accounts for 62% of the total gaming revenue, registered year-on-year growth of 3% to $116.2 billion.

Group Financial Results

Record Group revenue and earnings were achieved in the first half of the year with revenue climbing 25% year-on-year to $38.4 billion and Adjusted EBITDA surging 26% to $7.3 billion. Net profit attributable to shareholders reached an all-time high of $6.0 billion, up 29% year-on-year. The Group’s flagship properties achieved solid half year results, while the Construction Materials Division and City Clubs made solid contributions in line with management expectations.

The Group’s total gaming revenue on a management basis[1] grew 24% year-on-year to $38.2 billion in the first half of 2014 driven by healthy growth in both mass and VIP. Total mass revenue increased 28% year-on-year to $9.9 billion while total VIP revenue grew 24% year-on-year to $27.5 billion.

The Group’s balance sheet at 30 June 2014 remains well capitalised and liquid, with cash on hand of $14.4 billion and net cash of $14.1 billion. GEG reported debt of just $348 million at 30 June 2014.

Group Adjusted EBITDA (HK$'m)

Group Adjusted EBITDA (HK$’m)

Galaxy Macau™

Galaxy Macau™ celebrated its third year anniversary in May 2014, and remains the key growth driver in the Group. First half revenue increased by 38% to a record $25 billion against the same period last year. Adjusted EBITDA for the same period increased by 35% to a record $5.4 billion. Adjusted EBITDA grew 27% year-on-year to $2.6 billion in the second quarter, down slightly by 5% sequentially as a result of playing unlucky in VIP and lower mass volumes.

Latest twelve months ROI[2] improved from 45% in 1H 2013 to 59% as of 30 June 2014. Adjusted EBITDA margin under HKFRS and US GAAP remained constant year-on-year at 22% and 31%, respectively, at 30 June 2014.

VIP Gaming Performance

Total VIP rolling chip volume for the period was $517 billion, up 49% year-on-year. This translated to revenue of $17 billion, up 44% year-on-year. Second quarter volume of $264 billion was the best on record, 48% higher than the same period last year and up 5% over Q1 2014.

VIP Gaming

HK$’m

Q2 2013

Q1 2014

Q2 2014

QoQ%

YoY%

1H 2013

1H 2014

YoY%

Turnover

178,196

252,834

264,340

5%

48%

346,210

517,174

49%

Net Win

5,965

8,697

8,364

-4%

40%

11,875

17,061

44%

Win %

3.3%

3.4%

3.2%

3.4%

3.3%

Mass Gaming Performance

Revenue in the mass segment was $6.4 billion, up 32% on 1H 2013. Second quarter revenue increased by 19% year-on-year to $3 billion, but dipped 9% sequentially as June and subsequently July were impacted by the FIFA World Cup.

Mass Gaming

HK$’m

Q2 2013

Q1 2014

Q2 2014

QoQ%

YoY%

1H 2013

1H 2014

YoY%

Table Drop

6,845

7,368

6,943

-6%

1%

13,539

14,311

6%

Net Win

2,538

3,331

3,020

-9%

19%

4,799

6,351

32%

Hold %

37.1%

45.2%

43.5%

35.4%

44.4%

Electronic Gaming Performance

Electronic gaming revenue rose 7% year-on-year to $796 million. Second quarter revenue was in line with the same period last year.

Electronic Gaming

HK$’m

Q2 2013

Q1 2014

Q2 2014

QoQ%

YoY%

1H 2013

1H 2014

YoY%

Slots Handle

7,781

8,918

8,823

-1%

13%

13,968

17,741

27%

Net Win

383

412

384

-7%

0.3%

742

796

7%

Hold %

4.9%

4.6%

4.4%

5.3%

4.5%

Non-Gaming Performance

Revenue increased by 3% year-on-year to $744 million. Hotel occupancy on a combined basis at the resort’s three luxury hotels averaged near capacity at 98% for the half year. The property’s diverse and compelling retail, dining and accommodation options continued to attract customers.

StarWorld Macau

StarWorld Macau delivered solid half year results. Revenue increased by 7% year-on-year to $12.3 billion, and Adjusted EBITDA climbed 9% to $1.9 billion. These results were achieved on the back of strong growth in the mass gaming segment, and VIP revenues coming in slightly ahead of the same period last year despite significant bad luck in the second quarter.

Second quarter Adjusted EBITDA was $822 million, down 7% year-on-year due primarily to the worst VIP luck quarter in history. StarWorld Macau reported the latest twelve months ROI[3] of 109% compared to 92% for the same period last year. Adjusted EBITDA margin in the half year was constant at 15% and 25% under HKFRS and under US GAAP, respectively.

VIP Gaming Performance

StarWorld Macau reported 12% year-on-year growth in VIP rolling chip volume to $349 billion in the first six months of 2014, which translated into revenue of $9.8 billion.

Despite enjoying a strong first quarter, demand and win softened in Q2, as weaker economic data out of China affected sentiment and spending, and the property experienced its worst quarterly luck in history with 2.5%.

VIP Gaming

HK$’m

Q2 2013

Q1 2014

Q2 2014

QoQ%

YoY%

1H 2013

1H 2014

YoY%

Turnover

161,913

180,213

168,460

-7%

4%

311,353

348,673

12%

Net Win

4,807

5,556

4,260

-23%

-11%

9,612

9,816

2%

Win %

2.9%

3.1%

2.5%

3.1%

2.8%

Mass Gaming Performance

Mass gaming win in the first half of the year grew by 35% year-on-year to $2.2 billion on table drop of $5.8 billion, up 9% year-on-year.

Mass Gaming

HK$’m

Q2 2013

Q1 2014

Q2 2014

QoQ%

YoY%

1H 2013

1H 2014

YoY%

Table Drop

2,663

2,934

2,874

-2%

8%

5,327

5,808

9%

Net Win

856

1,147

1,094

-5%

28%

1,658

2,241

35%

Hold %

32.2%

38.6%

37.6%

30.9%

38.1%

Electronic Gaming Performance

StarWorld Macau’s electronic gaming generated revenue of $100 million, down 11% on last year as a result of lower hold. Second quarter net win was in line with the same quarter last year, and broadly in line with Q1 2014.

Electronic Gaming

HK$’m

Q2 2013

Q1 2014

Q2 2014

QoQ%

YoY%

1H 2013

1H 2014

YoY%

Slots Handle

777

997

727

-27%

-6%

1,675

1,724

3%

Net Win

48

52

48

-8%

0%

112

100

-11%

Hold %

6.1%

5.2%

6.6%

6.7%

5.8%

Non-Gaming Performance

Non-gaming revenue in the period was $181 million, in line with the same period last year. Hotel room occupancy remained at near capacity throughout the period at 99%. StarWorld Macau continues to be regarded as one of Macau’s preeminent luxury hotels.

City Clubs

City Clubs achieved $92 million of Adjusted EBITDA in the period (1H 2013: $94 million). It continues to perform in line with management expectations.

Construction Materials Division

The Construction Materials Division achieved results in line with the same period last year, delivering revenue of $1 billion and Adjusted EBITDA of $187 million.

Cotai and Hengqin Island Development Update

GEG arguably has the largest and best defined short, medium and long term development pipeline in the Macau gaming market and the global gaming industry.

Short term

  • Galaxy Macau™ Phase 2 remains on budget and on schedule to complete as Macau’s next major project by mid-2015. We have a significant work force on site completing the building exterior and fitting out the interior.
  • The Grand Waldo Complex will re-launch in early 2015 following an extensive refit, we will unveil our plans in Q4 2014.

Medium term

  • Site investigation works for Cotai Phases 3 & 4 are expected to commence later this year. Doubling GEG’s Cotai footprint to 2 million square metres, it will feature thousands of luxury hotel rooms, a state-of-the-art multi-purpose arena and a large convention centre.

Long term

  • GEG continues to advance its conceptual plans to develop a world class destination resort on a 2.7 square kilometre land parcel on Hengqin Island. The RMB10 billion, low rise, low density resort will complement the Group’s high energy properties located in Macau.

Selected Major Awards

Award

Presenter

GEG

Best Managed Companies in Asia – Gaming

Euromoney Magazine

Gaming and Lodging – Best Company

Institutional Investor Magazine – All
Asia Executive Team Survey

Casino Operator of the Year Australia / Asia

International Gaming Awards

Galaxy Macau™

Best Resort of the Year (HK/Macau)

Travel Weekly Magazine and Events
Magazine jointly organized – China
Travel & Meetings Industry Awards

Best Service Resort Asia

Golden Horse Award of China Hotel

Top 10 Resort Hotels of China

China Hotel Starlight Awards

Best Integrated Resort Brand and Service

Exmoo

Hurun Report Best of the Best Awards –
Luxury Hotel in Macau Star Performer

Hurun Report

StarWorld Macau

Best Service Hotel of the Year

Travel Weekly Magazine and Events
Magazine jointly organized – China
Travel & Meetings Industry Awards

Macau Elite Service Hotel Award

Ming Pao Weekly

Best Service Hotel of Asia

Golden Horse Award of China Hotel

Top 10 Glamorous Hotels of China

China Hotel Starlight Awards

Best Hotel Brand and Service

Exmoo

Subsequent Events

Incentivising Employees

Reflecting the importance of our strong team and the critical role each and every member plays in our continued success, we recently extended a new employee benefits package for all our 16,000 Macau general team members. These new incentive measures will help the Group to retain and attract high quality talent while maintaining the exemplary ‘World Class, Asian Heart’ service philosophy for which we are renowned.

Announced $1.3 Billion GEG Charitable Foundation

To celebrate its 10th year in operation and the 3rd Anniversary of its flagship property Galaxy Macau™, GEG announced the establishment of the GEG Charitable Foundation on 4 July 2014. The GEG Charitable Foundation reinforces GEG’s commitment to promoting a sustainable future for Macau through sharing its success with the community. The GEG Charitable Foundation will be funded initially with $300 million and a further commitment of another $1 billion later on.

Paid a Special Dividend

A special dividend of $0.70 per share was paid to shareholders on 31 July 2014. This reflects the Group’s significant cash generation ability to simultaneously develop Macau’s largest development pipeline.

Announcement of Another Special Dividend

The Group has substantial cash holdings, virtually no debt and robust cash flows from operations. The development of Galaxy Macau™ Phase 2 remains on budget and on schedule and we have great confidence in the outlook for GEG specifically and Macau in general. Therefore the Board of Directors has decided to announce another special dividend of $0.45 per share, payable on or about 31 October 2014.

Outlook

In the first half of 2014, GEG set new records for revenue and earnings. However, in this period the industry has experienced headwinds such as the FIFA World Cup which occurs once every four years and the soft economic landing in China which impacted customer behaviour. GEG’s management team remains focused on executing the Group’s strategic objectives to ensure long term sustainable growth for decades to come.

GEG is very optimistic about its prospects and those of Macau. The fundamental long term drivers for growth are unchanged, with major infrastructure works and increasing domestic consumption set to drive substantial growth in visitation to Macau in the years ahead. The Group’s track record, exceptional properties, powerful brand, and clear roadmap for short, medium and long term growth, position it well to capture these new visitors and fulfill its core goal of being ‘globally recognised as Asia’s leading gaming and entertainment corporation’.

Notes:

[1] The primary difference between statutory revenue and management basis revenue is the treatment of City Clubs revenue where fee income is reported on a statutory basis and gaming revenue is reported on a management basis.

[2] ROI calculated based on the total Adjusted EBITDA for the latest twelve months divided by gross book value through 30 June 2014 including allocated land cost.

[3] ROI calculated based on the total Adjusted EBITDA for the latest twelve months divided by gross book value through 30 June 2014 including allocated land cost.

About Galaxy Entertainment Group (HKEx stock code: 27)

Galaxy Entertainment Group Limited (“GEG”) is one of Asia’s leading gaming and entertainment corporations, and is a member of the Hang Seng Index.

GEG primarily develops and operates hotels, gaming and integrated resort facilities in Macau, the only legal gaming location in China and the largest gaming entertainment market in the world.

The two flagship properties of GEG include Galaxy Macau™, a world class integrated destination resort opened in May 2011 at Cotai, and StarWorld Macau, an award-winning property opened in 2006 on the Macau peninsula.

In April 2012, GEG announced the development of Galaxy Macau™ Phase 2 that will nearly double the size of the existing resort to one million square metres. Upon its targeted completion by mid-2015, Galaxy Macau™ Phase 2 will bring to Macau some of the most exciting entertainment, leisure, retail and MICE facilities. In December 2012, GEG outlined its concept plans for Phases 3 & 4 of its Cotai landbank and expects to commence site investigation works as early as late 2014.

Recently GEG entered into a framework agreement with the Hengqin Island authority to develop a 2.7 square kilometre land parcel for a world class destination resort in Hengqin Island. This project will complement GEG’s business in Macau and differentiate us from our peers, as well as play a key role in supporting Macau to become a world centre of tourism and leisure.

Additionally, GEG operates a Construction Materials Division.

For more information, please visit www.galaxyentertainment.com.

To see the full version of this release, including financial tables, click here: http://photos.prnasia.com/prnk/20140819/8521404648-b

For Media Enquiries:

Galaxy Entertainment Group

Mr. Peter J. Caveny
Vice President, Investor Relations
Tel: +852-3150-1111
Email: ir@galaxyentertainment.com

Ms. Yoko Ku
Manager, Investor Relations
Tel: +852-3150-1111
Email: ir@galaxyentertainment.com

Photo – http://photos.prnasia.com/prnh/20140819/8521404648-a