05
Oct

Visa limits in Chinese Macau hit gambling stocks

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Categories: Announcements

Residents now are allowed one trip every three months instead of two months. One of Macau’s biggest sources of customers is Guangdong.

The Hong Kong-based paper said the new policy, which quietly took effect on Oct. 1, seems to be aimed at curbing the outflow of Mainland money and limiting casino development.

U.S. companies with hotel casinos in Macau include MGM Mirage, Wynn Resorts Ltd. and Las Vegas Sands Corp.

Shares of MGM, already pressured by a down market, fell $3.23, or 12.1 percent, to close at $23.56. Wynn lost $6.35, or 7.9 percent, to finish at $73.84. Las Vegas Sands gave up $4.81, or 15.4 percent, to $26.51. A report that China is imposing new visa restrictions for visitors to Macau is taking a toll on U.S. gaming stocks with properties in Asia’s Las Vegas.

The South China Morning Post said Thursday that Mainland authorities have quietly changed the visitation policy for the residents of the southern Chinese province of Guangdong.

The company also was downgraded by an analyst on Thursday.

China’s new visa policy follows several moves to tighten visits to Macau since June. Guangdong residents had been allowed to stay in Macau for seven days once every two months.

Andy Wu Keng-kuong, president of the Travel Industry Council of Macau, told the paper that the visa limits could hurt growth in Mainland visitors.

But he still expects visitor numbers for the year to be up 10 percent from 2007. Visitor arrivals to Macau have been rising by almost 20 percent annually in recent years.

04
Oct

Kop Capital acquires 50% in Spa Owner Stein Group

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Categories: Announcements and Spa

Singapore-based KOP Capital Pte has acquired a 50 per cent stake in the Stein Group International (SGI), the parent company of a portfolio of integrated companies in the luxury travel and leisure markets.KOP Capital Pte has invested a total of US$250m (176.5m euro, £140.2m) in the deal, which will enable SGI to extend its brands into Asia by 2010, to include properties in Singapore, China, Indonesia and Thailand.

There are currently 15 hotels in total – many with wellness facilities – under SGI’s Stein Hotels and Resorts brand in seven European countries. Details: steinhotels.com

03
Oct

Bellstar Partners to Launch Vineyard Private Residence Club

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Categories: Announcements and Private Residence Clubs

The Reserve Collection www.thereservecollection.com , an exclusive private residence club with a collection of ultra-luxury, handpicked vineyard residences, is being created by Bellstar Hotels in a partnership with Olympus Resorts.

The first residences will debut in the Okanagan Valley wine country in British Columbia with plans for other worldwide locations. All vineyard properties must offer exceptional views and the wineries must be premium brands.

The Reserve Collection residences will be sold as fractional ownership. Ownership will include Vintners Club privileges as well as exchange benefits through the Elite Alliance, a growing array of luxurious worldwide ski, golf and beach destination

02
Oct

KEE Private Members Club to open in Shanghai

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Categories: Announcements and Private Member Club

Hong Kong’s KEE private members club founded in 2001 by Maria and Christian Rhomberg, is to open its first overseas club in Mainland China. KEE Shanghai opens this October in Shanghai at the city’s prestigious new heritage site Twin Villas, on 796 Huai Hai Road.

KEE is a private members’ club set in an intimate environment, for people who are interested in being part of a certain lifestyle which embraces the ultimate in art, music, food, wine and most importantly, people.

KEE Shanghai will offer the same unique “salon” and dining environment that has proved a success in Hong Kong, drawing a chic local and international following, which includes members of royal families, heads of state, renowned film directors and celebrities. International celebrity visitors include Jude Law, Mick Jagger, Ron Wood, Michael Jordan, Sting and Asian celebrities Michelle Yeo, Chau Yun Fat, Maggie Q, Wong Kar Wai and Hidetoshi Nakata.

Visitors to KEE Shanghai can expect rich fabrics and textures, antique furniture and collections of art from past centuries in rooms reminiscent of European salons, recalling an age that was known for its artistic decadence and intellectual conversation, much like the old Shanghai of the 1920s. Beautifully restored to its previous grandeur, the 1921 Twin Villas offers the perfect setting for KEE Shanghai.

The club, which is renowned in Hong Kong for its personal service and luxury ambience, will share the building with the Richemont Shanghai headquarters, sitting above the flagship stores for China of distinguished brands such as Alfred Dunhill and Vacheron Constantin.

KEE Shanghai comprises a cosy brasserie style restaurant, an elegant yet relaxing lounge and bar, both with outdoor balconies overlooking the gardens, and intimate rooms for private dining. All-wood floors, high ceilings and French windows add to the ambience of the club.

KEE Shanghai will offer a contemporary French and Mediterranean fine dining menu accompanied by an excellent wine selection. In addition, there will also be high tea and Saturday/Sunday brunch as well as a Chinese banquet menu served in the private rooms and more casual Japanese –inspired and international-style tapas menu and sensational cocktails served from the bar. In its short history, KEE private members club in Hong Kong has played host to a plethora of lifestyle events, which range from gourmet dinners featuring Michelin-starred chefs and the finest wines from across the globe. These include Dom Pérignon’s showcase event - the Seven Sensualities dinner, as well as champagne and wine pairing events for the likes of Krug, Veuve Clicquot and Gaja.

For more information please go to www.keeclub.com

01
Oct

Desmond’s private gambling club Sporting Emporium reports €1.7m loss

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Categories: Announcements and Casinos

DERMOT DESMOND’S Dublin-based private members club, the Sporting Emporium, made a loss of about €1.7 million in 2007.

Accounts just filed for the company, which comprises a casino and Chronicle Bookmakers at premises close to Grafton Street, show that it had accumulated losses of just under €2.6 million at the end of October 2007.

This compared with losses of €858,908 at the end of its previous financial year. That left the company with a shareholders’ deficit of just under €2.6 million. Its tangible fixed assets had a net book value of €1.7 million at the end of October 2007, compared with €3.3 million at the end of June 2006, the accounts show.

In its report to the directors, auditors Ernst Young said the excess of liabilities over assets meant that “there did exist” a financial situation that “may require the convening of an extraordinary general meeting of the company”, under Irish law.

The Sporting Emporium was opened in 2005 by Mr Desmond amid a blaze of publicity. The wealthy financier was reported at the time to have spent €5.5 million on fitting out the facility.

The accounts just filed show that the private members club is paying an annual rent of €250,000 for the lease on its premises on Anne’s Lane.

There are no details of how many members have paid the €25 joining fee since it opened.

The Sporting Emporium’s immediate parent is listed as IIU Nominees Ltd, an investment group controlled by Mr Desmond.

The club, which opens until 6am each day, features eight blackjack/card tables, six roulette wheels, Punto Banco and Pai Gow tables and 14 traditional poker card tables.

Entrance to the club is controlled by a biometric system based on a member’s fingerprints.

In July, Irish golfer Pádraig Harrington brought the Claret Jug to the club for a party to celebrate his second successive win in the Open championship.

30
Sep

Old Trafford Cricket Club in Manchester plans £200m redevelopment

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Categories: Announcements and cricket club

Lancashire County Cricket Club (LCCC) has unveiled plans for the £200m redevelopment of Old Trafford cricket club in Manchester as part of a larger 50-acre sports-led regeneration scheme.

The project, led by a joint partnership between the club, Trafford Council, Ask Developments, Tesco and Stretford High School, will include a 750,000 sq ft (69.6 sq m) development featuring a new 15,000-seat stadium with the capability of rising to 25,000 with temporary seating.

As part of the first phase, designed by BDP architects, a new outfield will be installed with a faster drainage system based the design of the Lord’s cricket ground, to allow for play to start earlier after heavy rain. The new designs also include the reorientation of the wicket to allow for a new larger square with five additional wickets, which will enable the club to bid for higher profile matches.

When complete, the facility will also include conference and banquet facilities, enhancements to the existing pavilion as well as new player and media facilities and a hotel.

A spokesperson from the cricket club said: “The proposals come at a time of fierce competition for the rights to stage International Test Matches, which has recently seen the ground, and the region, fail to secure any for the foreseeable future.

“The significant investment being made in the new facilities will ensure that Old Trafford regains its rightful place on the international test match circuit in time for the 2013 Ashes Test.”

Lancashire chief executive Jim Cumbes said: “The Old Trafford brand has a massive standing in world cricket. The club has been on the same site since 1857.

“Together with our local partners, the Northwest Regional Development Agency and Sport England we will work towards delivering a scheme which will have at its heart a new world class stadium fit for the next 150 years fit for the UK’s greatest sporting city region.”

Plans for the mixed-use regeneration development, which will be anchored by the new cricket venue, is expected to include new leisure, retail, business and residential space.

A planning application for the first phase of the new stadium development will be lodged imminently with work expected to begin early 2009 to be completed early 2012. In order for the club to bid for the ashes, construction on the new square will need to begin in 2011.

30
Sep

Jonas Software announces new, feature-rich, email Marketing system

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Categories: Announcements and Software

ClubbroadCast, the new email marketing solution from Jonas Software will feature full email tracking functionality with detailed Reporting and Analytics, complete Campaign Management, email Automation and enhanced segmentation abilities thanks to its integration with a club’s Jonas/csg Management System.
In addition, ClubbroadCast will provide expected deliverability rates of 95% or better, due to newfound relationships with all of the major ISPs. Steve Cowan, Vice President of Online Services at Jonas, said “We are extremely excited to be able to offer all of our clients what we feel is one of the best email marketing solutions available today.

Given the environment that characterizes the club industry, ClubbroadCast will help our clients increase member retention and satisfaction, increase facility utilization, and generate new club business. We are well positioned to assist our clients in these matters given the integration between ClubbroadCast and their core Jonas/csg Management System. This integration will allow clubs to leverage the data they’ve collected and use it to more effectively communicate with members and prospective members, alike.
Jonas have tremendous faith in ClubbroadCast and look forward to providing  clients with a truly integrated and value added product that will offer immediate results to their business.”

ClubbroadCast is set to be released early this fall.

29
Sep

Ashworth Shareholders consider company sale due to losses

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Categories: Announcements and companies

After posting a third-quarter loss, Ashworth officials announced they are considering the possibility of a sale, merger or other transaction to enhance shareholder value.

The Carlsbad, Calif.-based golf apparel maker reported it has retained Kurt Salmon Associates Capital Advisors to examine its financial options. The investment banking firm helped negotiate the sale of Ashworth’s competitor Cutter & Buck last year.

For the third quarter, Ashworth posted a net loss of $9.6 million compared with a net loss of $5.6 million a year ago. Revenues fell 9 percent to $45.2 million. Company officials said margins have suffered from increased discount sales and lower sales volume, combined with fixed overhead expenses.

Only Ashworth’s core domestic golf business reported a revenue gain in the most recent quarter; the company’s other categories include corporate and department store sales.

Total domestic golf channel revenues increased to $18.2 million, up 5.5. percent from $17.2 million in the same period last year. This is the fourth consecutive quarter in which revenues in the golf channel have increased.

But challenges lie ahead: Sell-through in the golf channel during the third quarter has been below expectations, and the company expects revenues to decline for the remainder of the fiscal year as compared with year-ago periods.

29
Sep

Jabulani Spa at the Machaca Hill to open March 2009 in Belize

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Categories: Announcements and Spa

A new spa called Jabulani will open in March 2009 in the heart of the rainforest at the Machaca Hill retreat, in Punta Gorda, Belize www.machacahill.com .

With three treatment rooms, a relaxation room and a swimming pool, other facilities will include a gym, lounge and juice bar.

The spa’s Western-inspired treatments will use produce from the retreat’s organic garden.

The Machaca Hill jungle retreat has 12 treehouse accommodations and is owned by parent company Outpost International.

28
Sep

The Golden Bear Company hires Peter Rummell as CEO

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Categories: Announcements and Hires

The Nicklaus Cos. has hired Peter Rummell – a real estate development and brand-building expert with executive tenures at Disney and St. Joe Co. – as chief executive officer.

Rummell, 62, has already started his duties starting in mid-August as CEO of Nicklaus Cos., which was created last June when New York Private Bank & Trust became a long-term partner with the Nicklaus family.

“The addition of Peter fits perfectly with our strategy to build on the success we have enjoyed, and to realize our full potential so the business will continue to grow now and beyond my lifetime,” said Jack Nicklaus, founder and chairman.

In addition to serving as CEO of the Nicklaus Cos., Peter Rummell completes the executive structure of the NicklausMilstein Fund, where he will also serve as CEO. The NicklausMilstein Fund is designed to capture the real estate development and investment opportunities that arise from the Nicklaus golf course design business.

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