Rhombus opens second Hong Kong hotel
On March 28, Rhombus International Hotels Group announced the grand opening of Hotel Panorama in Tsimshatsui.
Hotel Panorama is a deluxe contemporary business hotel with 324 rooms including 12 suites. The hotel’s facilities include two restaurants, sky garden, fitness center, executive club lounge and business center.
Calvin Mak, founder and chief executive officer of the Rhombus International Hotels Group, said, “After successfully launching our boutique hotel, Hotel LKF in Lan Kwai Fong, we recognized the opportunity to service the growing business tourist market in Hong Kong. We are proud today to launch Hotel Panorama in Tsimshatsui, so we can provide our guests with the Rhombus level of hospitality and service on both sides of Victoria Harbour.”
Simon Galpin, associate director-general at Invest Hong Kong, welcomed the opening of Hotel Panorama. “Hong Kong is Asia’s most popular city destination - a record 28 million people visited Hong Kong last year, and this is forecast to double by 2020,” he said. “Hotel Panorama, located in Tsimshatsui, one of Hong Kong’s most popular shopping and business hubs and in easy access of our extensive public transport system, is ideally situated to service Hong Kong’s business traveller market. I wish the business every success.”
Based in North America, Rhombus International Hotels Group, which celebrates its 21st anniversary this year, will open its third property, Hotel Bonaparte by Rhombus, in Hong Kong on April 21, followed by the continuous addition of facilities and projects in mainland China.
Cathay Pacific launches more freighter routes
Cathay Pacific Airways announced it will further expand its network in September with the launch of freighter services to two new destinations in the United States: Houston and Miami.
On September 2, the airline will, subject to final government approval, begin thrice-weekly service, departing Hong Kong every Tuesday, Thursday and Saturday, that will fly to Miami, via Anchorage, and then on to Houston. The flight will then return to Hong Kong, again routed through Anchorage. A Boeing 747-400F freighter will be used for the new service.
With the addition of Miami and Houston, Cathay Pacific will serve eight major cargo hubs in the United States. Dallas and Atlanta were added to the network in November 2005, and the number of flights to those cities quickly has grown from three per week to daily due to a strong response from the market.
Cathay Pacific Director and General Manager of Cargo Ron Mathison said, “Miami is the leading gateway to South and Central America while Houston is an important center for the oil business. Both cities will boost our network and provide better access and connectivity for our customers between Asia and North America via our home hub in Hong Kong.”
Cathay Pacific is committed to developing Hong Kong’s position as a leading airfreight hub, and the airline announced last month that its wholly owned subsidiary, Cathay Pacific Services Ltd, had won the franchise to design, construct and operate a new cargo terminal at Hong Kong International Airport. The common-use terminal, designed to handle 2.6 million tons of freight a year, will be ready for operation in mid-2011.
The airline also is expanding its freighter fleet, and next month will receive the first of six Boeing 747-400ERF “Extended Range Freighters” on firm order. In 2009, it will begin to take delivery of a new fleet of 10 new-generation Boeing 747-8F freighters.
At the same time, Cathay Pacific’s fleet of seven older, less fuel-efficient Boeing 747-200F “Classic” freighters is being phased out. The first to go was B-HVY, which had served the airline for 26 years, flying an average of 12 hours a day. Four more will be retired next year, and the last two will leave the fleet in 2012.
Air passenger growth continues in March
The combined Cathay Pacific and Dragonair traffic figures for March 2008 showed a continued increase in the number of passengers carried by the two airlines. Cargo tonnage also grew, but lagged marginally behind the growth in capacity.
In March, both airlines carried a total of 2,164,663 passengers, representing a 16% year-on-year increase. Passenger load factor rose by 2.4 percentage points to 82.1%, while capacity, measured in available seat kilometers (ASKs), was up by 13.7%. Year-to-date, passenger numbers rose 15.9% compared to capacity growth of 13.1%.
Cathay Pacific and Dragonair together carried 150,202 metric tons of cargo and mail in March, a 4.9% year-on-year increase with cargo capacity, measured in available cargo/mail tonne kilometers, up by 6.1%. The cargo load factor rose by 0.6 points to 68.2%. The year-to-date cargo tonnage grew 7.1% compared to a capacity rise of 8.1%.
HKIA shows strong growth in March
Hong Kong International Airport (HKIA) reported a 10.8% increase in passenger traffic, to 4.2 million, and a 10.1% increase in cargo throughput, to 334,000 metric tons in March 2008. Air traffic movements reached 25,745 or 6.8% higher compared to March 2007.
On March 21, the first day of the Easter holidays, HKIA handled a record 945 aircraft movements.
Chief Executive Officer of Airport Authority Hong Kong Stanley Hui said, “Easter is traditionally one of our busiest periods. This year was no exception, as holiday departures by Hong Kong residents drove growth in passenger traffic. Meanwhile, exports to Europe and North America spurred cargo growth.”
During the first three months of 2008, HKIA handled 12.1 million passengers, an increase of 10.5% from the same period a year earlier. Cargo traffic increased 8.3%, to 876,000 metric tons, and air traffic movements grew 6.3%, to 74,305.
“We are encouraged by the robust growth in air traffic during the first quarter. Nevertheless, our outlook for the months ahead remains cautiously optimistic in view of the prospect of a slowdown in the U.S. economy,” said Mr. Hui.
Bonhams holds inaugural Hong Kong Fine and Rare Wines Auction
Following the company’s recent expansion in Hong Kong, Bonhams held its inaugural Hong Kong Fine and Rare Wines Auction on April 24. The wine auction is the first in Hong Kong in 10 years and also the first one since the announcement of the exemption of wine from duty by Hong Kong Financial Secretary John C. Tsang in the Budget Speech in February.
Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mike Rowse welcomed Bonhams’ expansion and its inaugural Hong Kong wine auction.
“Wine duty was reduced from 40% to zero to support Hong Kong’s aspirations of becoming a wine center in Asia,” he said. “InvestHK looks forward to helping Bonhams and other overseas investors capitalize on the new business opportunities created by Hong Kong becoming the first free wine port among major economies.”
Chief Operating Officer of Bonhams Patrick Mead said this is the first of Bonhams’ planned auction innovations in Asia, bringing to old and new wine lovers across Asia the first chance to buy fine wines close to home from one of the world’s leading wine auctioneers.
Managing Director of Bonhams Asia Carson Chan added, “Bonhams opened its new regional headquarters in Hong Kong last year, with the support of Invest Hong Kong, so we could develop our auction business in Asia. We believe that Hong Kong’s uniquely international character, and the fast-growing cosmopolitan society of Southeast Asia and China, makes regional buyers ready for an exciting range and variety of auction categories.”
International Director of Fine and Rare Wines of Bonhams Frank Martell said Hong Kong quickly has established itself as a growing market leader in the trade and collecting of the finest and rarest wines in the world.
The auction featured 246 lots of the top wines for drinking, collecting or investing that have been selected for the Hong Kong consumers. Among the top lots are 1982 Chateau Lafite Rothschild, 1985 La Tache and an extremely rare magnum of 1992 Screaming Eagle. Bonhams’ expectation for the auction is US$1.5 million.
Bonhams, founded in 1793, is one of the world’s oldest and largest auctioneers of fine art and antiques. It offers sales through two major London salerooms at New Bond Street and Knightsbridge and through seven more UK locations. Sales also are held in San Francisco, Los Angeles, New York and Boston in the U.S.; and Switzerland, France, Monaco, Australia, Hong Kong and Dubai. Bonhams has a worldwide network of offices and regional representatives in 25 countries offering sales advice and valuation services in 57 specialist areas.
InvestHK is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing free and effective support for overseas companies establishing or expanding a business presence in the territory.
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