the region’s only platform facilitating hospitality investments
Singapore, 9 April 2015 – Sphere Conferences, the conference arm of Singapore Press Holdings Limited (SPH) today announced the launch of Hospitality Investment Conference Indian Ocean 2015, which will be held in Colombo, Sri Lanka from 25 to 26 May 2015. This event covers the key markets of the Maldives, Mauritius, the Seychelles and Sri Lanka.
Hospitality Investment Conference Indian Ocean 2015 aims to bring in more than 250 attendees over 2 days. This conference provides a platform that convenes property developers, operators and owners of hospitality properties, as well as financiers and investors to discuss the opportunities offered by the growing hospitality and tourism sector in the Indian Ocean region. For the first time, hospitality players from the key hotel markets of the Indian Ocean will be gathering at a single platform.
The key issues to be discussed at the conference include:
· Insights from the Sri Lankan and Maldivian governments;
· An update on the Indian Ocean investment market – the trends, highlights and opportunities
· Specialty issues focus on the unique markets of the Maldives, Mauritius, the Seychelles and Sri Lanka
· Finding the right operators in the Indian Ocean
· Asset value creation
The tourism sector has been identified as a key sector by the governments in the region, and with the Maldivian and Sri Lankan governments committed to boosting tourist arrival numbers to 1.6 million by 2017 and 2.5 million by 2016 respectively. This is a clear indication on the continually increasing demand for rooms and hospitality services in these countries.
In 2014, international arrivals to the Maldives increased 7 percent to 1.2 million and RevPAR at the country’s resorts increased 8 percent to USD 517. 280 new rooms were added, with occupancy at 68.4 per cent.
In comparison, Sri Lanka added 617 new rooms for the same period, boasting an occupancy of 72 per cent, although with a relatively lower RevPAR of USD 82. Arrival numbers reached 1.5 million in Sri Lanka, recording an almost 20 per cent growth for YE 2014. (Statistics source: Jones Lang LaSalle and STR Global)
With these destinations achieving in excess of 1 million tourists for YE 2014, there clearly is room for growth in the hospitality sector in the Indian Ocean.
Bill Barnett, Managing Director of C9 Hotelworks, said: “The current hospitality push for quality versus quantity is well represented in the event’s key markets which achieve some of the highest resort average room rates across the globe. For hotel owners and operators looking to expand their luxury horizons, the Indian Ocean is a natural brand extension.”
Mr Chua Wee Phong, Chairman of Sphere Conferences, said: “The Indian Ocean region hospitality industry has been gaining momentum. Sri Lanka and Maldives have successfully achieved 2014 tourist arrival targets of 1.5 and 1.2 million respectively, and Mauritius is expecting 1.1 million tourist arrivals in 2015. Recognising the region’s potential, international brands have started entering the markets to establish their presence. At the Hospitality Investment Conference Indian Ocean, we offer insights into the region’s hospitality sector, engaging dialogues on current trends and networking opportunities with top-notch hoteliers and industry experts.”
For more information about the event, visit www.hicio.sphereconferences.com.
Issued by Singapore Press Holdings Limited
Co. Regn. No. 198402868E
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About Sphere Conferences
Sphere Conferences, a conference arm of Singapore Press Holdings, produces conferences that are of the highest quality bringing inspiration, innovation and value to customers. Sphere’s purpose is to empower customers with big and fresh ideas and lasting relationships that will enable them to excel in their chosen markets, by providing unique networking and learning platforms whereby they can learn, network and do business. For more information, please visit www.sphereconferences.com
About Singapore Press Holdings Ltd
Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms, ranging from print, digital, radio and out-of-home media.
SPH owns award-winning newspapers, magazines and best-selling books in both print and digital editions, as well as online classified businesses in the region. In addition, SPH has two English radio stations and one Chinese radio station, an out-of-home digital advertising unit, a regional events and conferences arm, and runs a chain of modern retail convenience stores. SPH also has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8 and U, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today.
SPH REIT comprises Paragon, a premier upscale retail mall and medical suite/office property in Orchard Road and The Clementi Mall, a mid-market suburban mall. SPH's latest retail development is The Seletar Mall located in Sengkang.
For more information, please visit www.sph.com.sg