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Hotels Outside of Hong Kong

The Langham, London

Following the major renovations of the previous two years, the hotel managed a major turnaround in 2010. The hotel traded with an average rooms availability of 350 in 2010, as compared to 284 rooms in 2009. Capitalising on a citywide recovery and the repositioning of the hotel, strong revenue gains were achieved in 2010. The hotel saw a gain in occupancy rates on the enlarged rooms base. At the same time, it managed a 15% increase in average room rates in 2010 on better penetration in the higher-yield retail and group business.

For the year 2010, the hotel achieved an average occupancy of 75% on 350 rooms available (2009: 61% on 284 rooms available) and average room rate of £252 (2009: £219).

The Langham, Boston

After a slow start in 2010, a gradual increase in number of citywide conventions in Boston was witnessed. The increase in meeting and conference business, as well as an increase in corporate and roadshow activities from the financial sector led to a 9 percentage points gain in occupancy for Langham Boston for 2010 over that of 2009. However, due to continued market competition, average room rate grew only moderately in 2010. Revenue from food and beverage was steady.

For the year 2010, the hotel achieved an average occupancy of 68% (2009: 59%) and average room rate of US$219 (2009: US$213).

The Langham, Melbourne

The hotel was undergoing room renovation during August to October 2010. Therefore there was an average of 372 rooms available in 2010, as compared to 387 rooms in 2009. In the face of new supply of hotel rooms in the market, average room rate declined only 3% year-on-year, but occupancy rose 13 percentage points due to steady demand in retail and corporate business. Revenue from food and beverage increased by 13% year-on-year in 2010, and was supported by increase in both average check and covers. Completion of the first phase of room refurbishment in the fourth quarter of 2010 is expected to help the hotel capture market share and strengthen room rates.

For the year 2010, the hotel achieved occupancy of 80% on an average of 372 rooms (2009: 67% on an average of 387 rooms) and an average room rate of A$252 (2009: A$260).

The Langham, Auckland

Mild increases in room rates and occupancy were observed for Langham Auckland in 2010. The improvement was primarily on the back of increased market share for the Hotel in a stable lodging industry for Auckland in 2010. The re- opening of the ballroom in March 2010 helped drove revenue from food and beverage, which increased 65% year-on-year in 2010.

For the year December 2010, the hotel achieved an occupancy of 66% (2009: 62%) and an average room rate of NZ$174 (2009: NZ$168).

The Langham Huntington, Pasadena, Los Angeles

Stagnant market conditions, and hence a shortage of meetings and conference business, continued to impact the performance on the Hotel in 2010. There were modest gains in both occupancy and achieved room rates in 2010. However they remained at relatively low levels, which were unable to turn a profit for the hotel in 2010.

For the year 2010, the hotel achieved occupancy of 55% (2009: 47%) and an average room rate of US$217 (2009: US$224).

The Langham, Xintiandi, Shanghai

The 357-room luxury hotel soft opened in October 2010. At the end of 2010, 100 rooms were opened, with full operations scheduled for July 2011. With its modern design and high-profile location at the entrance to the bustling shopping and entertainment hub of Xintiandi, the hotel has been able to capture higher-yield retail and group business despite its recent opening. Demand for banqueting services from the corporate segment has also been encouraging.

Delta Chelsea Hotel, Toronto

The performance of the hotel has improved since the second quarter of 2010, with the return of leisure travel and large citywide events. Despite intense market competition, average room rate managed an increase of 3% in 2010, whereas occupancy rose by 2 percentage points in 2010. Revenue from food and beverage was on the other hand impacted by lower covers and average check at the restaurants.

For the year December 2010, the hotel achieved an occupancy of 68% (2009: 66%) and an average room rate of C$126 (2009: C$122).

Annual Report 2010

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