At the signing ceremony held in Hong Kong marking the
partnership between two global hospitality industry players, Ms. Winnie Chiu,
President and Executive Director of Dorsett Hospitality International said:
"Whilst we continue to pursue our 'Chinese Wallet' strategy, we also
believe it is important to also focus on market segments in other continents
which are of importance to us as well. Through this
In October 2010, Dorsett Hospitality International (HKEx Stock
Code 2266) attained its IPO and is one of the largest hotel developers, owners
and operators in Asia focusing on the 3- to 4-star segments. The group with a
portfolio of 25 hotels in different geographic location from Hong Kong,
Singapore, Malaysia, and China to the United Kingdom is expected to increase
the room inventory by approximately 80% by 2016, giving a total inventory of
approximately 7300. The group has demonstrated strong revenue growth with a
CAGR of 33.4% from FY2010 to FY2012, from HK$616mm to HK$1.1bn; and EBITDA has
jumped from HK$198mm in FY2010 to HK$881mm in FY2012, representing a CAGR of
110.9%.
The group's first hotel in Singapore soft opened on 28 March
2013. Dorsett Grand Chengdu and Dorsett Tsuen Wan are scheduled to open within
the 2nd quarter and the 3rd quarter of this year respectively. In 2014, Silka
Tsuen Wan, Hong Kong and Dorsett Grand Zhuji as well as Dorsett Zhongshan are
expected to commence operation. The group's first venture beyond Asia is the
Dorsett Shepherds Bush in London which is expected to be operational in 2014,
to be followed by Dorsett City, London located at Aldgate in 2015.
In the last two years, Dorsett Hospitality International has won
numerous accolades such as Best Small Cap Company Award by Asiamoney under the
Best Managed Company Awards - Hong Kong, the prestigious Hong Kong's Most
Valuable Company Award 2012 accorded by Mediazone Group and the Outstanding
High-Growth Company (Hotel) 2011 of "Quamnet Outstanding Enterprise
Awards" by Quamnet.com to name a few. Between 2007 and 2013, the hotels
owned and managed by the group received no less than 50 service industry awards
including the 2012 Certificate of Excellence by TripAdvisor accorded to 9 of
its hotels.
"Dorsett Hospitality International will embark on this
exclusive agreement with Diamond Resorts International® and we believe this
affiliation, the first part of our partnership with Diamond Resorts
International®, will further bolster the hospitality bridge between Hong Kong
and the United States, thus bringing more tourism related businesses into Hong
Kong and at the same time allows Diamond Resorts International® to expand their
geographical reach into Asia," explained Chiu. Dorsett Hospitality
International is confident with this partnership and HKTB's aggressive
marketing strategies, the total number of tourist arrivals for 2013 will
definitely surpass that of 2012.
Diamond Resorts International®, with global headquarters in Las
Vegas, Nevada, is one of the largest hospitality companies in the world. With a
network of more than 260 vacation destinations located in 28 countries
throughout the continental United States, Hawaii, Canada, Mexico, the
Caribbean, South America, Central America, Europe, Asia, Australia and Africa,
Diamond Resorts International® offers simplicity, choice and comfort to more
than 490,000 owner-families through their branded hospitality service, and is
dedicated to providing its guests with effortless and relaxing vacation
experiences every time, for a lifetime.
Annually, nearly 1.4 million owners, members and guests enjoy
the simplicity, choice and comfort Diamond Resorts International® offers through
its branded hospitality experience.
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