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Rizhao city becomes magnet for seaside tourism
RIZHAO, China, May 12, 2022 /PRNewswire/ -- A report from China Daily: With appealing natural resources and pleasant climate, Rizhao, a coastal city in East China's Shandong province, is becoming an increasingly popular destination for seaside tourism. Situated on the Yellow Sea, Rizhao has delighted tourists from both home and abroad with a healthy environment, picturesque coastline scenery, and an abundance of seafood. Wanpingkou Seaside Scenic Spot is where one can enjoy the city's main attractions. Boasting a 5-kilometer-long coastline, the area which integrates seaside sightseeing, recreation, and sports exercises is an ideal place for tourists to relax and play on the endless beach. The Chaoxi Tower is a landmark of the scenic spot. On top of the tower, you can not only overlook the entire scenic area, but also overlook the sea. Taigong, Taohua and Shanhou islands as well as Liujiawan Beach are the best places to catch an abundance of seafood on the beach when the tide is out. On the first and fifteenth days of each Chinese lunar month, the sea tide on Taigong Island's coast increases to a higher level. Unexpected discoveries can be discovered that are concealed in the rocks on the beach when the water recedes. Hooks and rakes are used by local fishermen to collect seafood such as oysters, crab, shrimp, and shellfish, which will undoubtedly yield a large harvest. "Rizhao is a coastal city with its charms of blue sky, clear sea, and sandy shores," said Liu Dezhong, vice-director of Rizhao municipal culture and tourism bureau. Liu noted that the city is transforming itself from a sightseeing destination to an international seashore resort for holiday tourists. To better introduce its attractions, Rizhao municipal government has created some boutique tourism improvement programs. A 28-kilometer-long greenway was built along the sea linking the city's featured coastal attractions. The pine forests, beaches, reefs and wetlands are still well-preserved, creating a "green ribbon" along the coastline. The greenway integrating jogging and cycling path become an ideal place for tourists to enjoy relaxing trips along the seashore. Officials said that Rizhao will further develop diverse tourism products with more major projects to come in the future. It plans to boost its boutique coastline tourism industry clusters and upgrade the connotation of its marine tourism to build a modern international coastal tourist resort.
"Warai Mirai Fes 2022 -Road to EXPO 2025-" Held from April 29 to May 1 by Co-hosts Team Kansai and Yoshimoto Kogyo in Preparation for "Expo 2025 Osaka
OSAKA, Japan, May 12, 2022 /PRNewswire/ -- "Warai Mirai Fes 2022 -Road to EXPO 2025-" was held for three days from April 29 to May 1 at Expo '70 Commemorative Park, Osaka, organized by Team Kansai, an association of 14 companies set up with the aim of developing Osaka as an international cultural, art, entertainment and sports city, and Yoshimoto Kogyo Co., Ltd. "Warai" means laughter and "mirai" future in Japanese. Photo1: https://kyodonewsprwire.jp/prwfile/release/M101242/202205060847/_prw_PI1fl_Qm24sSxs.jpg Photos: https://kyodonewsprwire.jp/release/202205060847?p=images The event was organized as a festival to experience "comedy," "food" and "music," which represent the culture and energy of Osaka, in order to increase the momentum from Kansai and to spread it to the rest of Japan towards "Expo 2025 Osaka, Kansai." It took place at "Expo '70 Commemorative Park," the former site of the World Expo 1970 in Japan. The main stage event was held for three days at the foot of the Tower of the Sun, the symbol of the Expo Park where visitors enjoyed music and comedy by popular Japanese artists, including Quruli, BiSH, GENERATIONS from EXILE TRIBE, and Kishidan, as well as comedians. The year 2025, with five years remaining until 2030, the intended year for achieving the U.N.'s Sustainable Development Goals (SDGs), is a pivotal year for accelerating efforts to achieve them. Expo 2025 Osaka, Kansai, will be a platform for achieving the SDGs by 2030. In a video message played before the show, the Minister for the World Expo 2025, Kenji Wakamiya, said that "consumers will play a major role in achieving the goal of a sustainable and better world by 2030," adding that "I'm looking forward to it." On this basis, he explained that one of the themes of "ethical consumption" is "reduction of food loss" and he urged everyone at the venue to "think what you could do for the future of the earth through this event." The festival created an environment for visitors to experience the SDGs, the theme of Expo 2025 Osaka, Kansai. In the food area, food was served on "my tableware" brought by customers themselves. The dishes were washed and reused once they finished eating. In addition, children enjoyed taking part in an SDG stamp-collecting event, in which they used QR codes to read 17 stamps scattered around the venue. Warai Mirai Fes 2022 -Road to EXPO 2025- was the first event organized by Team Kansai and Yoshimoto Kogyo Co., Ltd. The event attracted 51,218 visitors over the three days. -Event name: Warai Mirai Fes 2022 -Road to EXPO 2025--Date: April 29 - May 1, 2022-Venue: Expo '70 Commemorative Park, 1-1 Senri Banpaku Koen, Suita, Osaka, Japan-Co-hosts: Team Kansai / Yoshimoto Kogyo Co., Ltd. https://warai-mirai.jp/
Hanwha invests $320M in cell and module manufacturing capacity expansions to meet growing solar demand
Hanwha Solutions will expand its solar module factory in U.S. and cell production facility in Korea, to meet the growing global demand for reliable and sustainable energy. The investments aim to provide a reliable supply of renewable energy amid growing market uncertainties. It will help countries hedge against rising fossil fuel prices to achieve their goals of energy security. Hanwha also aims to boost supply of low-carbon polysilicon toward its solar manufacturing. By working with partners around the world, the company aspires to realize its vision of being a "completely clean energy solutions provider." SEOUL, South Korea, May 12, 2022 /PRNewswire/ -- Hanwha Solutions, the Korean company that owns completely clean energy solutions provider Qcells, today announced a $320 million investment plan for solar manufacturing expansion in the United States and Korea with the aim of providing secure, cleaner energy amid mounting calls for energy security and net-zero emissions. Hanwha said it will seek to spend $170 million building a 1.4-gigawatt solar module production facility in the US. Qcells already operates a 1.7 gigawatt module factory in Dalton, Georgia. With the newly-built factory expected to come online as early as the first half of 2023, Qcells' total production capacity in the U.S. will exceed 3 gigawatt – equivalent to one-third of current US solar module production capacity. The company also announced its plan to expand cell production capacity in Korea. By investing $150 million, the company will expand its cell factory in there. When the factory expansions are complete next year, overall cell capacity in Korea will be 5.4-gigawatts. It is the first investment in Korean solar cell manufacturing in five years. The investments aim to address growing demand for renewable energy, as ongoing energy market turbulence has sent fossil fuel prices soaring. Already worsened by a global supply squeeze during the pandemic, these price fluctuations have prompted calls around the world to reduce fossil fuel dependence aiming for energy security and carbon reduction. "Growing uncertainties tell us that securing reliable, sustainable energy has become more important than ever before," said Justin Lee, CEO of Hanwha Qcells. "To do this, Qcells will increase renewable supply from diversified sources and find cleaner ways to produce energy. That way, we will contribute to both energy security and net-zero emissions." To improve and further decarbonize its solar panel production process, Hanwha Solutions will secure low-carbon polysilicon from manufacturers around the world. In April, the company agreed with Korean polysilicon manufacturer OCI to receive polysilicon made in factories using carbon-free hydroelectricity. OCI will provide Hanwha with "clean polysilicon" for the next 10 years. Other sources are providing low-carbon polysilicon to Hanwha as well. In March, the company became the largest shareholder of REC Silicon, the Norway-headquartered polysilicon manufacturer, which operates massive production facilities in the US. REC Silicon similarly uses hydropower to make solar-grade polysilicon at its production facility in Moses Lake, Washington. Faced with soaring energy prices in Europe, the company also came up with solutions to lower heating bills. Qcells is working with Samsung Electronics to introduce a smart heating system with the aim of hitting the market in June. Combing Qcells' solar panels and energy storage system with Samsung's Eco Heating System, it will lower heating bills for households in Europe. Hanwha Solutions' decision to expand the Qcells' module factory in the U.S. comes as a part of its effort to help rebuild the domestic US solar supply chain. It will create good-paying job opportunities for generations to come. Already employing approximately 750 staff at its module production facility in the U. S., Hanwha aims to further boost the number of local jobs with the opening of the new module production facility. Upon the implementation of long-term, durable policy designed to incentivize solar manufacturing, Hanwha will further expand investments in the US, including wafers and cells. This requires implementing a "whole-of-government" approach, including smart trade policy, strengthened Buy American rules, and especially long-term domestic manufacturing tax legislation. "Ensuring policy certainty is crucial to realizing our goal of rebuilding the US solar value chain," said Lee. "With our relentless efforts to provide reliable, sustainable energy, we will do our utmost to solidify Qcells as the dependable choice for the U.S. solar market." About Hanwha Solutions. Hanwha Solutions aims to deliver sustainable solutions for the planet through smart energy solutions and customer-focused materials. The Company operates its business through five divisions: Q CELLS, Chemical, Advanced Material, Galleria and City Development. The Q CELLS Division offers total energy solutions from photovoltaic module manufacturing, power plant operation to electricity retailing service. The Chemical Division, the first in Korea to produce polyvinyl chloride (PVC), manufactures various petrochemical products and eco-friendly plasticizers. The Advanced Materials Division produces high-tech materials for automotive, photovoltaic and electronic devices. The Galleria Division, an operator of premium department store chain, provides premium fashion and food services. The City Development Division is a leading real estate developer specializing in industrial complexes. With its innovative technologies for sustainable growth, Hanwha Solutions strives to become a global leader in bringing a better future for humanity.
AC HOTELS BY MARRIOTT(R) UNVEILS FIRST HOTEL IN AUSTRALIA WITH THE OPENING OF AC HOTEL BY MARRIOTT MELBOURNE SOUTHBANK
HONG KONG, May 12, 2022 /PRNewswire/ -- AC Hotels by Marriott®, the design-led lifestyle brand part of Marriott Bonvoy's portfolio of 30 extraordinary brands, announces its brand debut in Australia with the opening of AC Hotel by Marriott Melbourne Southbank. Located in one of Melbourne's premier events, arts and entertainment precincts, the new hotel features 205 thoughtfully designed guest rooms and suites, signature dining, and an infinity pool and cocktail bar with sweeping views of the city skyline. AC Melbourne Southbank has been expertly refined and crafted to deliver an elegant yet unobtrusive experience, right in the cultural capital of Australia. AC Hotel by Marriott Melbourne Southbank Exterior; Deluxe King Room; AC Lounge "We are excited to unveil AC Hotel by Marriott Melbourne Southbank. The opening marks the AC Hotels brand debut and 14th brand entry within Marriott Bonvoy's portfolio in Australia," said Rajeev Menon, President, Asia Pacific (excluding Greater China), Marriott International. "With Australia's border reopening, we look forward to welcoming travellers with a distinctive experience that has been edited to offer only the best of what guests truly need." Nestled in the prestigious inner-city enclave of Melbourne's Southbank, with the Central Business District and South Wharf precinct – Australia's largest urban renewal project – on its doorstep, AC Melbourne Southbank brings together the very best of Melbourne, housed in one sculptural landmark address. With close proximity to public transport, South Melbourne Market, Melbourne Convention Centre, South Wharf shops and eateries, the Arts precinct, and other first-class amenities, the hotel offers sweeping city views with everything guests need for a memorable stay. "We are thrilled to celebrate the arrival of the AC Hotels brand in Australia with the opening of AC Melbourne Southbank," said Jeff Tomczek, Vice President and Global Brand Leader of AC Hotels. "Melbourne is the cultural and design capital of Australia, allowing for a seamless fit with AC Hotels, known for its purposeful design and obsession with detail." Designed by DKO Architecture in collaboration with Capital Alliance, AC Melbourne Southbank has created a bold architectural presence within the Fishermans Bend skyline. The design approach to every space is optimal comfort and utility through modern décor with open layouts offering functional beauty without distraction. The elegantly framed geometric glass façade will be activated by LED lighting at night acting as a beacon for visitors and residents alike. A sculptural canopy creates an iconic entry to the hotel and the design-led guestrooms contained within. The 205 thoughtfully designed guestrooms and suites offer sweeping views of the city skyline and the Yarra River. From sleek desks, open closets, and integrated bathrooms to easily accessible outlets for mindful work and play, AC guestrooms are free of clutter and maximise a sense of openness. The subtle layering of materiality with modern classic finishes such as natural stone tiling, warm textured timber, metal details, soft layers of drapery and brass accents all create a sense of functional calm. The mood reflects the industrial warehouse scenes of South Melbourne while echoing the Spanish roots of the AC brand. AC Melbourne Southbank features a range of collaborative spaces including the brand's signature AC Lounge, a modern co-working space for creative gatherings by day and a buzzing social hub offering European-style tapas by night. The signature AC Gin Tonic experience is available throughout all dining and bar venues at the hotel. The speciality cocktail is served in a custom glass by sculptural glass artist Adam Walmon and has been scientifically developed to heighten the taste, aroma and palate experience for the drinker. Sorolla provides the perfect place for breakfast to start the day, with a dining experience that includes an open kitchen to capture the chefs in action. Triana Bar exudes a 'wow' factor showcasing stunning views and a long, iconic freestanding bar where guests can mix and mingle with each other. The space offers simplicity and sophistication in the subtle finishes of warm timber, natural stone, bronze accents and softer grey materials. Bar de Buceo, the pool bar, also offers guests a relaxed area to enjoy drinks and light, alfresco style dining, making it the perfect place to unwind. The hotel offers a range of leisure facilities, including an outdoor, infinity-edge swimming pool spanning the width of the building, a 24-hour fitness centre, and meeting and event space designed to host groups of varying sizes. The hotel houses 576 square metres of flexible meeting space, with floor-to-ceiling windows providing abundant natural light, along with an outdoor covered terrace room and pool bar. The outdoor terrace beside the infinity pool can serve as a pre-function space accommodating up to 200 guests in cocktail format or broken down into smaller spaces for breakouts and more intimate meetings, social gatherings and weddings. "I am truly delighted to open the first AC Hotel in Australia," commented Harry Singh, General Manager of AC by Marriott Melbourne Southbank. "Working in collaboration with DKO, we have brought to life the core elements of the AC design philosophy – every detail of the experience is meticulously over-thought to create a seamless stay, right in the heart of the city known as the design capital of Australia." Owned by Capital Alliance, a Melbourne-based diversified mixed-use real estate developer and investment company, the hotel marks Marriott International's ninth hotel in Melbourne and the third new hotel to open in the Victorian capital over the last 12 months. For more information or reservations, please visit https://www.marriott.com/hotels/travel/melac-ac-hotel-melbourne-southbank/ About Marriott Bonvoy® Marriott Bonvoy's extraordinary portfolio offers renowned hospitality in the most memorable destinations in the world, with 30 brands that are tailored to every type of journey. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, and through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments, or through partners for luxurious products from Marriott Bonvoy Boutiques. To enroll for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com. About AC Hotels by Marriott® AC Hotels includes over 195 hotels in more than 27 countries and territories. At AC Hotels, every moment has been designed, refined, crafted, and considered to create a seamless guest experience. Each AC Hotel features purposefully designed signature spaces that strike the perfect balance of form and function. Most notably, the AC Lounge® invites guests and locals alike to collaborate during the day, or to enjoy signature cocktails and tapas in the evening. The AC Kitchen offers a European-inspired breakfast each morning. All AC guest rooms and public spaces evoke a particular sophistication, featuring sleek furnishings, curated artwork, and intuitive technology. The brand is dedicated to the details that matter most to guests during their travels with a mission to deliver The Perfectly Precise Hotel™ experience. For more information, visit www.ac-hotels.com and follow along on Facebook, Twitter, and Instagram. AC Hotels is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments, and unparalleled benefits including free nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com.
GreenTree Hospitality Group Ltd. Reports Fourth Quarter and Fiscal Year 2021 Financial Results
Total revenues increased by 6.1% year over year to RMB307.4 million (US48.2 million) for the fourth quarter 2021. Income from operations decreased by 69.5% year over year to RMB36.1 million (US$5.7 million)  for the fourth quarter 2021. Adjusted EBITDA (non-GAAP)  decreased by 47.4% year over year to RMB68.8 million (US10.8 million) for the fourth quarter 2021. Core net income (non-GAAP)  decreased by 67.2% year over year to RMB35.8 million (US$5.6 million)  for the fourth quarter 2021. GreenTree's board of directors has approved a share repurchase program of up to US$20 million over the next 12 months. SHANGHAI, May 12, 2022 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree", the "Company", "we", "us" and "our"), a leading hospitality management group in China, today announced its unaudited financial results for the fourth quarter and fiscal year of 2021. Fourth Quarter of 2021 Operational Highlights A total of 4,659 hotels with 337,153 hotel rooms were in operation as of December31, 2021, compared to 4,626 hotels and 334,162 hotel rooms as of September 30, 2021. As of December 31, 2021, the Company had 66 leased-and-operated ("L&O") hotels and 4,593 franchised-and-managed ("F&M") hotels in operation in 367 cities across China, compared to 40 L&O hotels and 4,300 F&M hotels in operation in 345 cities as of December 31, 2020. Geographic coverage increased by 6.4% year-over-year. During the quarter, the Company opened 138 hotels, a decrease of 65 compared to 203 hotels opened in the fourth quarter of 2020. Of the hotels opened in the fourth quarter of 2021, three were in the luxury segment, 44 were in the mid-to-up-scale segment, 59 were in the mid-scale segment, and 32 were in the economy segment. Geographically speaking, 15 hotels were in Tier 1 cities , 34 were in Tier 2 cities and the remaining 89 were in Tier 3 and lower cities in China as of December 31, 2021. As of December 31, 2021, the Company had a pipeline of 1,225 hotels contracted for or under development, of which 57 hotels were in the luxury hotel segment, 347 were in the mid-to-up-scale segment, 478 were in the mid-scale segment, and 343 were in the economy segment. The average daily room rate, or ADR, for all hotels in operation was RMB170, a 4.6% increase from RMB162 in the fourth quarter of 2020, and a 0.8% increase from RMB168 in the fourth quarter of 2019, before the COVID-19 outbreak. The occupancy rate, or OCC, for all hotels in operation was 69.2%, a decrease of 7.5% compared with 76.7% in the fourth quarter of 2020, and a 7.2% decrease compared with 76.4% in the fourth quarter of 2019, before the COVID-19 outbreak. The revenue per available room, or RevPAR, which is calculated by multiplying our hotels' ADR by its occupancy rate, was RMB117, a 5.6% year-over-year decrease, and a 8.7% decrease compared with RMB129 in the fourth quarter of 2019, before the COVID-19 outbreak. As of December 31, 2021 the Company's loyalty program had over 69 million individual members and approximately 1,850,000 corporate members, compared to over 66 million individual members and approximately 1,810,000 corporate members, respectively, as of September 30, 2021. The Company sold approximately 91.0% of room nights directly during the fourth quarter of 2021. 2021 Full Year Operational Highlights For the full year 2021, the Company opened 722 hotels, an increase of 34.2% comparing to 538 newly-opened hotels in the full year 2020. Of the hotels opened in 2021, 10 were in the luxury hotel segment, 189 were in the mid-to-up-scale segment, 415 were in the mid-scale segment, and 108 were in the economy segment. Geographically speaking, 46 hotels were in Tier 1 cities, 200 were in Tier 2 cities and the remaining 476 were in Tier 3 and other cities in China as of December 31, 2021. During 2021, the Company closed 403 hotels, and added a net of 319 hotels to its portfolio. The average daily room rate, or ADR, for all hotels in operation, was RMB164 in the full year 2021, a 7.5% year-over-year increase. The occupancy rate, or OCC for all hotels in operation was 71.1% in the full year 2021, compared with 68.7% in the full year 2020. The revenue per available room, or RevPAR, which is calculated by multiplying our hotels' ADR by its occupancy rate, was RMB116 in the full year 2021, a 11.3% year-over-year increase. "While addressing unprecedented challenges brought by the pandemic, we have continued to focus on the execution of our strategic growth plan for the long term," said Mr. Alex Xu, Chairman and Chief Executive Officer of GreenTree. "Thanks to the hard work and vigilance of our team, franchisees and partners to protect the health, safety and comfort of our customers, we delivered solid results during the fourth quarter of 2021, recovering 91.3% of our RevPAR in this quarter compared to the same period in 2019. Several waves of COVID-19 infections in parts of China in the fourth quarter of 2021 dampened user demand for hotels stays overall. Despite the impact of COVID-19 in November, and thanks to our resilient business model, RevPAR for the quarter recovered to 91.3% of its level in the same period in 2019. This performance was better than our industry's average and gave momentum to our business. We also made progress in some of our new business models, such as E-sports hotels. As a result, E-sports hotels have performed better throughout the pandemic, bringing stable occupancy rates and profits to our franchisees and partners. Going into 2022, we are pleased to see that our business has maintained better momentum than our industry in January and February, especially during Chinese New Year. However, additional COVID-19 outbreaks in March slowed down the pace of recovery in the domestic hospitality industry, especially in top-tier cities. March was negatively impacted by the resurgence of COVID-19 in many parts of China, particularly in Jilin Province, Guangdong Province and Shanghai. While the hotel industry as a whole has been hit hard and is under tremendous pressure, we have been strongly supported by the unwavering dedication of our staff and partners. Their dedication gives us confidence for the future, in our ability to continue to navigate uncertainty and to emerge from the pandemic stronger than ever." Fourth Quarter 2021 Financial Results Quarter Ended December 31, 2020 December 31, 2021 December 31, 2021 RMB RMB US$ Revenues Leased-and-operated hotels 76,113,015 112,445,788 17,645,198 Franchised-and-managed hotels 207,222,721 184,749,925 28,991,295 others 6,420,830 10,236,732 1,606,366 Total revenues 289,756,566 307,432,445 48,242,859 Year Ended December 31, 2020 December 31, 2021 December 31, 2021 RMB RMB US$ Revenues Leased-and-operated hotels 227,074,041 391,960,031 61,507,082 Franchised-and-managed hotels 677,480,818 774,359,348 121,513,879 others 25,455,237 39,826,579 6,249,660 Total revenues 930,010,096 1,206,145,958 189,270,621 Total revenues for the fourth quarter of 2021 were RMB307.4 million (US$48.2 million) , a 6.1% year-over-year increase. The increase was primarily due to newly opened L&O and F&M hotels. Compared with the fourth quarter of 2019, before the COVID-19 outbreak, total revenues for the fourth quarter of 2021 increased by 6.2%. Total revenues for the full year 2021 were RMB1,206.1 million (US$189.3 million) , a 29.7% year-over-year increase. Total revenues from leased-and-operated hotels for the fourth quarter of 2021 were RMB112.4 million (US$17.6 million) , a 47.7% year-over-year increase. The increase was primarily due to a 1.2% year-over-year increase in L&O hotels' RevPAR and revenues from the 29 L&O hotels opened since the beginning of 2021. This revenue increase was partially offset by the closure of three L&O hotels over the same period. Total revenues from L&O hotels for the full year 2021 were RMB392.0 million (US$61.5 million) , a 72.6% year-over-year increase. Total revenues from franchised-and-managed hotels for the fourth quarter of 2021 were RMB184.7 million (US$29.0 million) , a 10.8% year-over-year decrease. Initial franchise fees for the fourth quarter of 2021 increased by 5.7% year-over-year, mainly attributable to the gross opening of 132 F&M hotels and the closure of 105 F&M hotels. Recurring franchisee management fees and others for the fourth quarter of 2021 decreased by 12.4% year-over-year, primarily due to a 5.8% decrease in RevPAR due to impact of COVID-19 and the fee waiver to franchisees of quarantined hotels and hotels whose RevPAR has been severely affected by the pandemic. Total revenues from F&M hotels for the full year 2021 were RMB774.4 million (US$121.5 million) , a 14.3% year-over-year increase. Quarter Ended December 31, 2020 December 31, 2021 December 31, 2021 RMB RMB US$ Initial franchise fee 18,065,889 19,091,150 2,995,818 Recurring franchise management fee and others 189,156,832 165,658,775 25,995,477 Revenues from franchised-and-managed hotels 207,222,721 184,749,925 28,991,295 Year Ended December 31, 2020 December 31, 2021 December 31, 2021 RMB RMB US$ Initial franchise fee 61,051,369 76,263,574 11,967,419 Recurring franchise management fee and others 616,429,449 698,095,774 109,546,460 Revenues from franchised-and-managed hotels 677,480,818 774,359,348 121,513,879 Total operating costs and expenses Quarter Ended December 31, 2020 December 31, 2021 December 31, 2021 RMB RMB US$ Operating costs and expenses Hotel operating costs 99,817,161 191,912,281 30,115,225 Selling and marketing expenses 24,232,688 10,649,862 1,671,196 General and administrative expenses 50,885,097 72,474,197 11,372,783 Other operating expenses 98,341 30,485 4,783 3Total operating costs and expenses 175,033,287 275,066,825 43,163,987 Year Ended December 31, 2020 December 31, 2021 December 31, 2021 RMB RMB US$ Operating costs and expenses Hotel operating costs 392,522,306 651,376,905 102,215,250 Selling and marketing expenses 75,347,166 66,921,718 10,501,478 General and administrative expenses 172,557,554 268,252,836 42,094,724 Other operating expenses 1,731,405 4,937,625 774,821 Total operating costs and expenses 642,158,431 991,489,084 155,586,273 Hotel operating costs for the fourth quarter of 2021 were RMB191.9 million (US$30.1 million) , a 92.3% year-over-year increase. The increase was mainly attributable to the opening of 29 L&O hotels since the beginning of 2021, which resulted in higher rents, higher utilities and consumables, higher staff headcount and compensation expenses, higher depreciation and amortization, and higher ramp up costs. Excluding the impact from newly-opened L&O hotels in 2021, hotel operating costs for the fourth quarter of 2021 increased 19.7%. Hotel operating costs for the full year 2021 were RMB651.4 million (US$102.2 million) , a 65.9% year-over-year increase. Quarter Ended December 31, December 31, December 31, 2020 2021 2021 RMB RMB US$ Rental 28,196,927 63,622,588 9,983,772 Utilities 4,113,416 6,306,575 989,639 Personnel cost 10,034,679 29,867,603 4,686,879 Depreciation and amortization 13,450,611 29,110,325 4,568,045 Consumable, food and beverage 11,584,105 20,471,596 3,212,440 Costs of general managers of franchised-and-managed hotels 26,088,907 29,807,622 4,677,466 Other costs of franchised-and-managed hotels 5,132,814 6,004,107 942,175 Others 1,215,702 6,721,865 1,054,809 Hotel Operating Costs 99,817,161 191,912,281 30,115,225 Year Ended December 31, December 31, December 31, 2020 2021 2021 RMB RMB US$ Rental 118,295,183 235,568,383 36,965,820 Utilities 15,372,385 25,782,913 4,045,902 Personnel cost 41,330,758 82,114,394 12,885,540 Depreciation and amortization 50,324,493 80,575,644 12,644,077 Consumable, food and beverage 43,257,796 69,495,702 10,905,392 Costs of general managers of franchised-and-managed hotels 91,664,745 114,779,305 18,011,378 Other costs of franchised-and-managed hotels 22,985,917 26,123,578 4,099,359 Others 9,291,029 16,936,986 2,657,782 Hotel Operating Costs 392,522,306 651,376,905 102,215,250 Selling and marketing expenses for the fourth quarter of 2021 were RMB10.6 million (US$1.7 million) , a 56.1% year-over-year decrease. The decrease was mainly attributable to lower advertising expenses. Selling and marketing expenses for the full year 2021 were RMB66.9 million (US$10.5 million) , a 11.2% year-over-year decrease. General and administrative expenses for the fourth quarter of 2021 were RMB72.5 million (US$11.4 million) , a 42.4% year-over-year increase. The increase was mainly attributable to the opening of 29 L&O hotels since the beginning of 2021, increased one-time consulting fees for capital markets advice and increased bad debts during 2021. Excluding the impact from newly-opened L&O hotels and one-time consulting fees, general and administrative expenses for the fourth quarter of 2021 increased by 19.9%. General and administrative expenses for the full year 2021 were RMB268.3 million (US$42.1 million) , a 55.5% year-over-year decrease. Gross profit for the fourth quarter of 2021 was RMB115.5 million (US$18.1 million) , a year-over-year decrease of 39.2%. Gross margin for the fourth quarter of 2021 was 37.6%, compared to 65.6% a year ago. The decrease was primarily due to the operating loss recorded by newly-opened L&O hotels during their ramp-up period. Gross profit for the full year 2021 was RMB554.8 million (US$87.1 million) , a 3.2% year-over-year increase. Income from operations for the fourth quarter of 2021 was RMB36.1 million (US$5.7 million) , a year-over-year decrease of 69.5%, with a margin of 11.8%. The decrease was mainly due to the operating loss recorded by newly-opened L&O hotels during their ramp-up period. Excluding the impact of newly-opened hotels, income from operations for the fourth quarter of 2021 was RMB261.4 million, a year-over-year increase of 16.6%, with a margin of 54.3%. Income from operations for the full year 2021 was RMB241.7 million (US$37.9 million) , a year-over-year decrease of 24.3%. Net income for the fourth quarter of 2021 was RMB28.6 million (US$4.5 million) , compared to RMB79.5 million in the fourth quarter of 2020 and net margin was 9.3%. The year-over-year decrease was mainly attributable to the operating loss recorded by newly-opened L&O hotels during their ramp-up period. Net income for the full year 2021 was RMB207.8 million(US$32.6 million) , a year-over-year decrease of 15.1%. Adjusted EBITDA (non-GAAP)  for the fourth quarter of 2021 was RMB68.7 million (US$10.8 million) , a year-over-year decrease of 47.4%. Adjusted EBITDA margin, defined as adjusted EBITDA (non-GAAP) as a percentage of total revenues, for the fourth quarter of 2021 was 22.4%, compared to 45.1% a year ago. Excluding the impact of newly-opened hotels, adjusted EBITDA (non-GAAP) for the fourth quarter of 2021 was RMB105.0 million, with a margin of 40.2%. Adjusted EBITDA (non-GAAP) for the full year 2021 was RMB317.7 million (US$49.9 million) , a year-over-year decrease of 10.6%. Core net income (non-GAAP) for the fourth quarter of 2021 was RMB35.8 million (US$5.6 million) , a year-over-year decrease of 67.2%. The core net margin, defined as core net income (non-GAAP) as a percentage of total revenues, for the fourth quarter of 2021 was 11.7%, compared to 37.7% one year ago. Core net income (non-GAAP) for the full year 2021 was RMB208.8 million (US$32.7 million) , a year-over-year decrease of 27.9%. Earnings per ADS (basic and diluted) for the fourth quarter of 2021 were RMB0.25 (US$0.04) , down from RMB0.83 one year ago. Core net income per ADS (basic and diluted) (non-GAAP) for the fourth quarter of 2021 was RMB0.35 (US$0.05) , down from RMB1.06 a year ago. Earnings per ADS (basic and diluted) for the full year 2021 was RMB2.05 (US$0.32)  down from RMB2.54 one year ago. Core net income per ADS (basic and diluted) (non-GAAP) was RMB2.03 (US$0.32)  for the full year 2021, a decrease from RMB2.81 a year ago. Cash flow Operating cash inflow for the fourth quarter of 2021 was RMB201.3 million (US$31.6 million)  as a result of income from operations. Investing cash outflow for the fourth quarter of 2021 was RMB256.4 million (US$40.2 million) , which was primarily attributable to purchases of short-term investment, investments and deposits for property and equipment, and loans to franchisees. The investing cash outflow was partially offset by proceeds from short-term investments. Financing cash inflow for the fourth quarter of 2021 was RMB154.2 million (US$24.2 million), mainly attributable to dividends distributed by the end of the year 2021. Operating cash inflow for the full year 2021 was RMB361.0 million (US$56.6 million) . Investing cash outflow for the full year 2021 was RMB928.4 million (US$145.7 million) . Financing cash inflow for the full year 2021 was RMB255.6 million (US$40.1 million) . Cash and cash equivalents, restricted cash, short-term investments, investments in equity securities and time deposit. As of December 31 , 2021, the Company had total cash and cash equivalents, restricted cash, short term investments, investments in equity securities and time deposits of RMB1,235.9 million (US$193.9 million) , compared to RMB1,192.1 million as of September 30, 2021. The increase from the prior quarter was primarily attributable to drawing down of bank facilities offset by dividend distribution to our shareholders, acquisition costs of our L&O hotels, changes in fair value of equity securities and loans to franchisees. COVID-19 Update Despite the resurgence of COVID-19 in the fourth quarter of 2021, we delivered solid results, with RevPAR recovering to 91.3% of its level in the same period in 2019. At the end of December 2021, our RevPAR had bounced back to almost 100% of its level in the fourth quarter of 2019 (the "4Q2019 Level"). With the resurgence of COVID-19 nationwide, our RevPAR fell to around 81.3% of the 4Q2019 Level in the first week of November 2021, but gradually recovered to 98.5% of the 4Q2019 Level in the last week of December 2021. In early 2022, hotels braced for a rush of guests during the Chinese New Year due to family reunions and anticipated recovery in domestic tourism, leading to a boom for the hospitality industry. In the first quarter of 2022, the Company's RevPAR temporarily reached 88% of its level in the first quarter of 2019. However, the reintroduction of travel restrictions due to increased omicron variant cases led to a decline in RevPAR. At the beginning of 2022, another round of COVID outbreaks in March and April led to some restrictions in major cities being locked down, and millions of residents confined at home, slowing down the recovery pace of the domestic hospitality industry, especially in top-tier cities. Outbreaks in Jilin Province, Guangdong Province and Shanghai in March led to a drop in our RevPAR of the first week of May to only 56.0% of its level at the same time in 2019. A certain number of our hotels participate in domestic quarantine programs. We help local governments implement quarantine policies, help our guests isolate safely, and help our franchisees stabilize their income. We believe our hotels' participation can help them stay competitive in the industry. While China's domestic market remains under pressure due to a new wave of infections and the rapid increase in omicron cases, we believe we can continue to outperform the industry across business lines. Guidance Assuming the recent resurgences of COVID-19 remain under control in China and the market will recover in the third quarter and fourth quarter, the Company expects an increase in total revenues of up to 5% for the full year 2022, compared to 2021. The guidance set forth above reflects the Company's current and preliminary views based on its recovery and may not be indicative of the final financial results for any future interim period and/or the full year ending December 31, 2022. Share Repurchase Program The Company today also announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$20 million worth of its outstanding (i) American depositary shares ("ADSs"), each representing one Class A ordinary share, and/or (ii) Class A ordinary shares over the next 12 months. Under the share repurchase program, the Company may repurchase its ADSs from time to time through open market transactions at prevailing market prices, privately negotiated transactions, block trades or any combination thereof. The Company will also effect repurchase transactions in compliance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and its insider trading policy, as applicable. The number of ADSs repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with the Company's working capital requirements and general business conditions. The Company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund the repurchases from its existing cash balance and does not expect the repurchase program to adversely affect its existing growth plan and strategies. Conference Call GreenTree's management will hold an earnings conference call at 8:00 PM U.S. Eastern Time on May 11, 2022, (9:00 AM Beijing/Hong Kong Time on May12, 2022). Dial-in numbers for the live conference call are as follows: International 1-412-902-4272 Mainland China 4001-201-203 US 1-888-346-8982 Hong Kong 800-905-945 or 852-3018-4992 Singapore 800-120-6157 Participants should ask to join the GreenTree call, please dial in approximately 10 minutes before the scheduled time of the call. A telephone replay of the conference call will be available after the conclusion of the live conference call until May, 2022. Dial-in numbers for the replay are as follows: International Dial-in 1-412-317-0088 U.S. Toll Free 1-877-344-7529 Canada Toll Free 855-669-9658 Passcode: 6891497 Additionally, a live and archived webcast of this conference call will be available at http://ir.998.com. Use of Non-GAAP Financial Measures We believe that Adjusted EBITDA and core net income, as we present it, is a useful financial metric to assess our operating and financial performance before the impact of investing and financing transactions, income taxes and certain non-core and non-recurring items in our financial statements. The presentation of Adjusted EBITDA and core net income should not be construed as an indication that our future results will be unaffected by other charges and gains we consider to be outside the ordinary course of our business. The use of Adjusted EBITDA and core net income has certain limitations because it does not reflect all items of income and expenses that affect our operations. Items excluded from Adjusted EBITDA and core net income are significant components in understanding and assessing our operating and financial performance. Depreciation and amortization expense for various long-term assets, income tax and share-based compensation have been and will be incurred and are not reflected in the presentation of Adjusted EBITDA. Each of these items should also be considered in the overall evaluation of our results. Additionally, Adjusted EBITDA and core net income does not consider capital expenditures and other investing activities and should not be considered as a measure of our liquidity. We compensate for these limitations by providing the relevant disclosure of our depreciation and amortization, interest expense/income, gains/losses from investments in equity securities, income tax expenses, share-based compensation, share of loss in equity investees, government subsidies and other relevant items both in our reconciliations to the corresponding U.S. GAAP financial measures and in our consolidated financial statements, all of which should be considered when evaluating our performance. The term Adjusted EBITDA and core net income is not defined under U.S. GAAP, and Adjusted EBITDA and core net income is not a measure of net income, operating income, operating performance or liquidity presented in accordance with U.S. GAAP. When assessing our operating and financial performance, you should not consider this data in isolation or as a substitute for our net income, operating income or any other operating performance measure that is calculated in accordance with U.S. GAAP. In addition, our Adjusted EBITDA and core net income may not be comparable to Adjusted EBITDA and core net income or similarly titled measures utilized by other companies since such other companies may not calculate Adjusted EBITDA and core net income in the same manner as we do. Reconciliations of the Company's non-GAAP financial measures, including Adjusted EBITDA and core net income, to the consolidated statement of operations information are included at the end of this press release. About GreenTree Hospitality Group Ltd. GreenTree Hospitality Group Ltd. ("GreenTree" or the "Company") (NYSE: GHG) is a leading hospitality management group in China. As of December 31 2021, GreenTree had a total number of 4,659 hotels. In 2020, HOTELS magazine ranked GreenTree Top 12 Ranking among 225 largest global hotel groups in terms of number of
JUMEIRAH GROUP OPENS ALL-VILLA LUXURY RESORT IN BALI
DUBAI, UAE, May 11, 2022 /PRNewswire/ -- Jumeirah Group has further expanded its international portfolio with the debut of its first stunning, contemporary resort in Indonesia – Jumeirah Bali. Jumeirah Bali – Resort Ocean View To view the Multimedia News Release, please click: https://www.multivu.com/players/uk/9048351-jumeirah-group-opens-all-villa-luxury-resort-in-bali/ Located in Bali's breath-taking Uluwatu region, the resort provides an unsurpassed destination for those seeking to reconnect and find inner balance, while soaking in the island's magnificent natural surroundings. Mr. José Silva, Chief Executive Officer of Jumeirah Group, said: "Bali is well-known for its captivating beauty and rich cultural heritage that sets it apart from the rest of the archipelagos around the world. Jumeirah Bali is a first-of-its-kind concept that embodies the spirit of the province with our unmatched hospitality, providing guests a truly unique and memorable experience to reconnect with nature." The resort offers 123 villas in one- and two-bedroom configurations, as well as a four-bedroom Royal Water Palace, all featuring views of the Indian Ocean and lush green natural beauty of Bali. Each villa features a private pool and outdoor living area with an open pavilion. The resort also provides guests with exclusive access to a private beach. Designed to create a seamless flow between the architecture, interior, and landscape, Jumeirah Bali blends indigenous building materials with contemporary and luxurious comfort, to transport guests to an authentic Balinese haven. Guests can also indulge in three signature restaurants and bars overseen by Master Chef Vincent Leroux. Scheduled to open in June, AKASA Gastro Grill delivers a unique culinary experience, with resident DJ and Mixologist providing the perfect spot to relax. All-day dining spot SEGARAN offers exquisite Balinese and South-East Asian cuisine, while MAJA Sunset Pool Lounge will serve as an ideal evening spot to enjoy cocktails overlooking the vast ocean. Jumeirah Bali will also welcome Jumeirah's award-winning Talise Spa. Currently the resort has two private treatment rooms in operation, with the full spa experience, complete with the only traditional Turkish hammam on the island, opening in July. Guests can also enjoy the spa's additional wellness facilities, which include the sauna, steam bath and Vichy shower treatments. Guests can also choose to participate in guided meditation and Yoga classes, utilise the modern fitness centre or enjoy hiking experiences in the splendid natural surroundings. The resort also boasts stunning infinity pools and kids' club for hours of family fun. For more information and to discover our special opening offers, please visit www.jumeirahbali.com or contact email@example.com
Youth Square curated boundless creativity with artists amidst the pandemic for virtual 'Creative+ Arts Day Camp 2022'
HONG KONG, May 11, 2022 /PRNewswire/ -- Organised by Hong Kong Arts Development Council and curated with Youth Square, 'Creative+ Arts Day Camp 2022' has been successfully held from 14 to 18 April this year again with enthusiastic response that over 630 students from 'The Arts Ambassadors-in-School Scheme' have shared the joy of arts together. Workshops of 'Creative+ Arts Day Camp 2022' have been conducted via webinar again, led students to the world of arts through interesting arts activities. Tutor from ‘Toolbox Percussion’ instructed students how to imitate sounds found in daily life and how to compose music with these sounds in the ‘A Journey of Sound Discovery’ workshop. ‘The workshop encouraged students to pay more attention to the surroundings and to learn listening to the spectrum and rhythm of different sounds.’ said the tutor. With the theme of 'Exploring Arts' this year, 'Creative+ Arts Day Camp 2022' has invited four arts organisations from different fields including 'Toolbox Percussion', a percussion band, 'Ting Art Studio', a diversified arts studio, 'Snow Sand Art', a sand painting studio and 'Make Friends with Puppets', a local puppet troupe, to design four interesting online arts workshops. Instructed by tutors, students were able to experience different modes in art creation, integrate art into their lives and to feel, experience and explore the colourful world of art! Youth Square has been providing a relaxed, reliable and safe environment for youth to explore every possibility of their potentials. Adopting the guiding principles of 6G model (Groom, Grow, Glow, Green, Global Vision and Give Back) continuously, we hope to nurture the interest of youth in arts by providing arts education through 'Creative+ Arts Day Camp 2022' as well as share the joy of arts creativity with students who joined a series of diversified and excited arts experience at home. Please download high resolution photos here. Arts Ambassadors-in-School Scheme The Hong Kong Arts Development Council introduced the Arts Ambassadors-in-School Scheme in 2008. It invites local primary, secondary and special schools to nominate students with artistic talents and a flair for the arts to be the arts ambassadors for their schools. Arts ambassadors are encouraged to take part in various arts activities to demonstrate their artistic talents and to share the joy of artistic creation in order to live out the cooperative spirit of "Live in Art, Thrive in Sharing". Youth Square The Youth Square, which came into full operation in 2010, is a youth development project of the Home Affairs Bureau of the HKSAR Government, with an aim to be the hub of diversified youth development activities for youth to develop their potential. Youth Square facilities include the 643-seat Y Theatre, Y Studio, multi-function areas and the Y Loft which has 148 guest rooms. Youth Square has been conducting events under three themes, include "Music & Dance", "Arts & Culture" and "Community Engagement". Youth Square is located in Chai Wan and is managed and operated by New World Facilities Management Company Limited on a non-profit basis. 6G model is Youth Square's guiding principle. 6G refers to Groom, Grow, Glow, Green, Global Vision and Give Back. Official website: http://www.youthsquare.hk Y Loft Y Loft is conveniently located, 3-minute walk from Chai Wan MTR Station. The 148-room Y Loft is located in Youth Square's Main Block and Hostel Block. Room selection includes Twin, Twin Room with Balcony, Triple, House of Six, Duplex and Accessible Rooms. Accessible Rooms, with widened corridor and more space, are designed to deliver the same comfort and peace of mind to visitors with disabilities. New World Facilities Management Company Limited New World Facilities Management Company Limited is a non-profit making company and a subsidiary of New World Development Company Limited (Hong Kong Stock Code: 00017.HK). Embracing the mission of youth development and supporting youth to contribute to society, we strive to develop Youth Square as the platform for youth to exchange knowledge and experience and to develop and discover their potential.
Good Travel with Marriott Bonvoy(TM) expands to close to 100 hotels and resorts across Asia Pacific
Purpose-led program collaborates with creative arts initiative PARDICOLOR to reimagine travel posters as part of expansion HONG KONG, May 11, 2022 /PRNewswire/ -- Marriott International today announced the expansion of Good Travel with Marriott Bonvoy™, a program that offers meaningful travel across Asia Pacific. The program now spans close to 100 hotels across the Marriott Bonvoy portfolio in Asia Pacific and offers guests the opportunity to forge first-hand connections with local communities and the environment during their stay. Good Travel with Marriot Bonvoy Key Visual; Travel Art in collaboration with PARDICOLOR With more hotels and resorts offering the Good Travel with Marriott Bonvoy™ program, Marriott is set to deliver richer and wider choices of meaningful experiences that promote both cultural understanding and positive, sustainable change. As part of the expansion, Good Travel with Marriott Bonvoy™ is collaborating with PARDICOLOR, an environmental creative arts initiative by conservation organization Wildlife Asia to reinterpret traditional travel posters with a purposeful twist. According to the 2022 American Express Travel Global Survey, people are more intentional about where they spend their money, and impact travel is resonating across all demographics. Travelers are placing increasing importance on making a positive impact on the destinations they visit. Good Travel with Marriott Bonvoy™ will offer curated experiences that focus on three key pillars: Environmental Protection to support the resiliency of the natural environment due to environmental degradation, pollution, and climate change; Community Engagement to support local communities through cultural education or volunteerism; and Marine Conservation to restore and preserve marine ecosystems and species. "We are absolutely delighted to expand Good Travel with Marriott Bonvoy™ to allow travelers even more ways to connect with local communities on a deeper level," said Bart Buiring, Chief Sales and Marketing Officer, Marriott International, Asia Pacific. "The pandemic has brought about an enhanced sense of purpose and travelers are increasingly looking for different and more meaningful ways to travel. Our expansion of Good Travel with Marriott Bonvoy™ is well-positioned to allow guests to reimagine travel from a pure leisure experience to one that can positively impact the places they visit." Each experience connects guests with local experts and NGOs at the destinations they visit, while promoting and deepening cultural understanding. Experiences range from planting mangrove seeds in the forests of Langkawi to restore the wetland, to joining a temple preservation in India to mitigate the destructive effects of sandstorms on its façade, and caring for fish species in Qiandao Lake in China to help improve water quality. As part of the collaboration with PARDICOLOR, artist Joséphine Billeter has created travel art that depict the concept of holidaying while doing good. PARDICOLOR is an environmental creative arts initiative that supports local artists to raise environmental and social awareness across Southeast Asia, aligning with Good Travel with Marriott Bonvoy™'s goal to allow guests the opportunity to create a positive impact while traveling. The creative designs follow the program's three experience pillars and will be seen across selected participating hotels in the form of digital displays, welcome and thank you emails, alongside digital postcards for downloads. The expansion builds on last year's pilot with 15 hotels across the Marriott Bonvoy portfolio in the region, reaffirming Marriott International's commitment to doing good in the communities where it operates. Good Travel with Marriott Bonvoy™ is guided by the company's sustainability and social impact platform, Serve 360: Doing Good in Every Direction. To learn more, please visit https://marriottbonvoyasia.com/goodtravel. About Marriott International Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 8,000 properties under 30 leading brands spanning 139 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly-awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram. About Marriott Bonvoy® Marriott Bonvoy's extraordinary portfolio offers renowned hospitality in the most memorable destinations in the world, with 30 brands that are tailored to every type of journey. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, and through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments, or through partners for luxurious products from Marriott Bonvoy Boutiques. To enroll for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com.
Miral Unveils Forward-Looking Strategic Roadmap at Arabian Travel Market 2022
- Miral has invested over AED 9 billion to position Yas Island as a top global destination for entertainment and leisure DUBAI, UAE, May 10, 2022 /PRNewswire/ -- Miral, Abu Dhabi's leading creator of immersive destinations and experiences, unveils its forward-looking strategic roadmap at this year's edition of Arabian Travel Market (ATM). Aligning with ATM 2022's focus on international travel and tourism, Miral will be announcing upcoming projects and demonstrating its commitment to enhancing Abu Dhabi's leisure and entertainment offering, while helping reinforce the capital's position as a global tourism hub and contributing to the emirate's economic growth and diversification vision. Miral - Yas Island During its first decade, Miral has invested over AED 9 billion into developing world-class attractions and experiences on Yas Island, in partnership with global industry giants such as Ferrari, and Warner Bros., positioning it as a top global destination for entertainment and leisure. Mohamed Abdalla Al Zaabi, CEO of Miral, said: "We are delighted to take part in Arabian Travel Market 2022, which provides us with the perfect opportunity to showcase Miral – past, present and future. From the evolution of Yas Island into a global destination, a continuous source of pride, to our recent appointment to oversee Saadiyat's Destination Management Strategy, we look forward to building more immersive attractions, world-class destinations, and enhanced guest experiences as we contribute to Abu Dhabi's tourism growth and position it as a global destination for visitors from all around the world." In 2011, Miral embarked on a bold mission of prompting a monumental shift in the UAE capital's leisure and entertainment landscape on Yas Island. Miral developed world-class attractions and destinations and created top-tier guest experiences like no other. Conceptualising and building some of the UAE's most immersive, popular attractions, Miral has also supported the creation of some of Abu Dhabi's most iconic cultural landmarks. Consequentially, Yas Island re-emerged in the ever-dynamic global tourism ecosystem as one of the UAE's biggest touristic draws, attracting visitors from all over the world with its diverse mix of award-winning leisure and entertainment experiences. In 2020-2021 alone, Miral delivered multiple projects on the island, expanding its portfolio of world-class destinations, and creating more unique experiences and attractions for visitors from the region and around the world. Located on the southern end of Yas Island, Yas Bay, an iconic mixed-use development that comprises three distinct but integrated areas: Yas Bay Waterfront, The Residences at Yas Bay and Yas Creative Hub, plays a key role in the continued growth of the island. In 2021, Miral opened Abu Dhabi's leading waterfront destination, Yas Bay Waterfront, a three-kilometre hotspot that offers visitors day-to-night dining, internationally acclaimed entertainment, and premier leisure experiences. Also located on the waterfront and developed by Miral is Etihad Arena, the Middle East's largest state-of-the-art indoor entertainment venue and five-star resort hotel, Hilton Abu Dhabi Yas Island. The destination provides visitors with an unrivalled experience through its holistic offering. Miral's hospitality offerings are second to none, providing guests with superb accommodation from the most loved brands to create everlasting memories. In 2021, Miral also opened DoubleTree by Hilton Abu Dhabi Yas Island Residences and the WB Abu Dhabi Hotel, the world's first Warner Bros.-branded hotel. As part of its efforts to enhance the customer experience and create a seamlessly connected destination of world-class theme parks and attractions on Yas Island, Miral set forth on a digital transformation journey in 2018 with the launch of MyConnect, a foundational digital platform that provides robust digital capabilities, enabling a hyper-connected and immersive visitor experience. In 2021, and to accelerate the transformation, Miral launched FacePass, a cutting-edge contactless technology that utilizes facial recognition to streamline guest experiences and its Decision Analytics strategy, the Noor Initiative. This initiative aims to enhance the company's investment in predictive data analytics, and integrate innovation across its operations, bolstering its contribution to Abu Dhabi's position as a data-driven capital In 2022, Miral has welcomed another decade, set to be marked with accomplishments of great magnitude, with milestones which reflect a renewed promise through integrated destinations. The most recent growth journey has begun with Miral's appointment by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) to oversee Saadiyat Island's Destination Management Strategy. Further strengthening Abu Dhabi's position as a destination of distinctive cultural developments on Saadiyat Island, Miral has partnered with DCT Abu Dhabi to conceive and develop the Natural History Museum Abu Dhabi, set to be completed in 2025. Housing some of the rarest specimens on the planet, the museum's galleries will span 13.8 billion years through time and space, from the beginnings of the universe to a glimpse at its possible future. Looking ahead, on Yas Island, a partnership between Miral and SeaWorld® Parks & Entertainment will see the expansion of Abu Dhabi's leisure and educational offering with the opening of SeaWorld® Abu Dhabi, which is set for completion in 2022. The next-generation marine life park built across 183,000 sqm will comprise Yas SeaWorld Research and Rescue Center (YSWRRC), the first-of-its-kind dedicated marine research, rescue, rehabilitation and return centre in the world. As 2022 marks a new chapter for the region's travel and tourism sector, Miral's initiatives and projects in the next decade will be rooted in fostering evolved guest experiences and underscored by a relentless commitment to advancing the capital's tourism industry in line with the Abu Dhabi Vision 2030. Miral - Yas Bay Waterfront
BATAM MARRIOTT HOTEL HARBOUR BAY A SOPHISTICATED LIVING IN THE HEART OF BATAM'S ENTERTAINMENT DISTRICT
BATAM, Indonesia, May 10, 2022 /PRNewswire/ -- Marriott Hotels, one of Marriott Bonvoy portfolio hotels opened on October 1st 2020 in Batam Island with the inspiring accommodation of Batam Marriott Hotel Harbour Bay. Debut in the largest island of Indonesia's Riau Archipelago province and a favourite getaway destination for visitors from nearby Singapore, the hotel is located in the most popular Batam's entertainment & business centre, Harbour Bay District. A Hotel that offers a spectacular views overlooking rural Malay settlements together with an ocean panoramic sunset, which captures Singapore urban lights skyline. A pleasant 45-minute ferry journey with Horizon Ferry will bring both leisure and business travellers to and from Singapore with 10 kilometres away across the Singapore Strait, the traveller will conveniently arrives at The Harbour bay International Ferry Terminal, where it takes only a few walking distance you will be welcomed at Batam Marriott Hotel Harbour Bay's door. "We are very happy to welcome all the Singapore travellers to Batam's new gem, by introducing our signature Marriott Hotels brand, which provide a sophisticated space for both business and leisure travel in Batam," said Christy Guna Desa, General Manager, Batam Marriott Hotel Harbour Bay, "This is the first five-star hotel to open on the island, and the second Marriott Hotels-branded property in Indonesia. Every Marriott Hotel is thoughtfully designed to let guests have the space to work, relax and be inspired, and this is exactly what guests will find when they come stay with us at Batam Marriott Hotel Harbour Bay." Batam is popular with visitors for its international golf courses, exhilarating water sports adventures, wellness spas, tasty fresh seafood, duty-free shopping and attractions which showcase Indonesia's culture and history. The hotel is located 7 minutes away from Nagoya shopping centre and few steps to Harbour Bay Seafood restaurants. The hotel provides a total of 216 guestrooms and suites, appointed with plush bedding, spacious work desks, 55" LED TVs, high speed internet, bathrooms with rainfall showers and customized amenities that ensure a comfortable and productive stay. Guests can also experience The M Club-level rooms to enjoy additional privileges, including exclusive lounge access. Dining options at the hotel showcase the best of local Indonesian and international cuisines. Goji Kitchen & Bar is an all-day dining restaurant with open-plan kitchens offering buffet or à la carte dining. Mill & Co is a boutique deli that serves freshly baked cakes and pastries, along with gourmet teas and coffees. The Lounge in the hotel lobby expresses the style and multi-functionality of a Marriott Hotels Greatroom, a space where guests can work, socialize or simply relax with light snacks, soft drinks, beer and cocktails. On the rooftop, Altitude is an open air lifestyle lounge inspired by a New York apartment terrace, featuring Asian tapas and signature cocktails to be enjoyed with spectacular views overlooking rural Malay settlements together with an ocean panoramic sunset, which captures Singapore urban lights skyline. Offering the guest a fun and relaxation moment to pamper its vacation, the hotel provides a one-stop wellness & pampering's floor; 24/7 fitness centre for fitness enthusiasts with Technogym equipment, an outdoor infinity swimming pool and a kids' pool set along with a Pool Bar serving alcoholic & non-alcoholic beverages, also an extensive spa treatment's menu at Quan Spa for ultimate experience are placed at the 5th floor of the hotel. In becoming the preferred MICE and wedding destination in Batam Island, with its 1,300 square meter the hotel introduces Marriott Grand Ballroom which featuring a VVIP room and a Pre-Function Hall. Five multifunctional, customizable and tech-forward meeting rooms, ranging from 55 to 500 square meters and equipped with fast Wi-Fi, make ideal venues for hosting events. As an international business and holiday destination located just a short ferry hop from neighboring Singapore and Malaysia, Batam has long welcomed visitors to its destinations. With the re-opening of International border, we look forward to provide sophisticated spaces, warm hospitality, safe environment that aligns with Marriott Commitment to Clean and following the local authority to discerning guests who seek a place to do some work, relax or recharge when they travel to our home. For more information, please visit www.batammarriott.com or call +62 778 5707999. In addition, connect with Batam Marriott Hotel Harbour Bay on Facebook and @batammarriottharbourbay Instagram. For high resolution images, please find here. About Marriott Hotels® With over 590 hotels and resorts in more than 65 countries and territories around the world, Marriott Hotels is evolving travel through every aspect of the guest's stay, helping to relax, clear minds, stimulate new ideas, and anticipate travelers' needs, leaving them inspired to reach their full potential. Boldly transforming itself for mobile and global travelers who blend work and play, Marriott leads the industry with innovations, including the Greatroom lobby and Mobile Guest Services that elevate style & design and technology. To learn more, visit www.MarriottHotels.com. Stay connected to Marriott Hotels on Facebook, @marriott on Twitter and @marriotthotels on Instagram. Marriott Hotels is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments and unparalleled benefits including free nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com. About Marriott Bonvoy® Marriott Bonvoy's extraordinary portfolio offers renowned hospitality in the most memorable destinations in the world, with 30 brands that are tailored to every type of journey. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, and through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments, or through partners for luxurious products from Marriott Bonvoy Boutiques. To enroll for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com. Media Contact Novrico TooyManager, Marketing CommunicationsBatam Marriott Hotel Harbour BayNovrico.firstname.lastname@example.org Phone +62 812 4200 9937
Klook And KAYAK Announce Expanded Integration, Enabling Users To Access One of the Largest Inventories Of Things-To-Do
The expanded integration will see both companies build on the successful integration of car rentals with things-to-do The integration will support travel recovery in Asia - bringing West to East as borders and measures ease SINGAPORE, May 10, 2022 /PRNewswire/ -- Klook, a leading travel and leisure e-commerce platform and KAYAK, the world's leading travel search engine, today announced an expanded integration that will enable KAYAK users to access one of the largest inventories of Things-to-Do (TTD) across the Asia-Pacific (APAC) region. KAYAK will draw on Klook's leading supply strength to enable its users to have seamless access to Asia-Pacific's best things-to-do. KAYAK users will benefit from a wider range of attractions and experiences as they will now be able to discover over 490,000 activities in over 1000 destinations through Klook on KAYAK's Things-to-Do vertical. "We're excited to be expanding our integration with Klook which will enable KAYAK users to have greater access to an extended variety of attractions and experiences," said Elia San Martin, VP & GM of APAC, KAYAK. "As travel continues to rebound in the APAC region - we are helping travelers access more travel options than ever before." Since the integration of Car Rentals last year, KAYAK users have access to Klook's car rental coverage that spans over 9000 destinations across 500 vendors, unlocking one of the largest inventories in the Asia-Pacific region. Marcus Yong, VP, Global Marketing, Klook said, "We're delighted to announce this global integration with KAYAK. The enhanced API-connectivity between the two companies will enable the post-pandemic traveler to have seamless access to the best things-to-do and car rentals globally. Borders in APAC are gradually opening up as measures ease. This is an opportune time for us to be at the forefront of travel recovery in the region and build on that momentum with KAYAK - especially as it brings more travelers over from the US and Europe to experience joy in Asia." As part of this global integration, both companies may look to explore a series of co-marketing initiatives showcasing great travel deals and opportunities for users in the Asia Pacific region. About Klook Klook is the leading travel and leisure e-commerce platform for experiences and services anytime, anywhere. We curate the most joyful experiences so that users can satisfy their relentless curiosity for adventure and experiences at home and around the world. With our website and app, users can experience a world of joy, from attractions, tours to local transportation and stays. Founded in 2014, we are here to inspire and enable more moments of joy through over 490,000 activities in over 1,000 destinations. About KAYAK KAYAK, part of Booking Holdings (NASDAQ: BKNG), is the world's leading travel search engine. With billions of queries across our platforms, we help people find their perfect flight, stay, rental car, cruise, vacation package. We also support business travelers with KAYAK for Business, our free corporate travel solution and are transforming the in-travel experience with our app and new hotel and accommodation software. For more information, visit www.KAYAK.com.
Oakwood and DHI Downtown Celebrate Successful Completion of Management Agreement for Oakwood Premier AMTD Singapore
The five-year partnership yielded international accolades and superlative guest reviews that reflect Oakwood's hospitality excellence and spirit of innovation SINGAPORE, May 10, 2022 /PRNewswire/ -- Oakwood® today announced the exit of Oakwood Premier AMTD Singapore from its portfolio following the successful conclusion of a five-year management agreement with DHI Downtown Pte Ltd, an affiliate of Dorsett Hospitality International (DHI). With effect from 1 July 2022, the property will leave Oakwood's global network and commercial engines. "Oakwood is thankful to be entrusted by DHI to manage this impressive landmark in the heart of Singapore's Central Business District. The commercial success of Oakwood Premier AMTD Singapore bears testament to the collaborative effort and synergy between our operations team and the Ownership. This is a privilege which we do not take lightly. As we approach the maturity of our five-year agreement, I would like to express our sincere appreciation for the opportunity to deliver on our mandate and achieve our aspirations together," said Dean Schreiber, chief executive officer of Oakwood. Strategically located in the heart of Singapore's vibrant Central Business District, Oakwood Premier AMTD Singapore opened in June 2017 to critical acclaim. Designed to deliver on Oakwood Premier's brand promise of tailored luxury, the celebrated property caters to discerning travellers who seek indulgence and style in a personal sanctuary, evoking a feeling of home. Amidst the consistent delivery of operational and service excellence, Oakwood Premier AMTD Singapore also served as the launching pad for disruptive service innovations, such as the brand's hallmark Oakwood Premier Mobile Bar concept, as well as industry-leading partnerships like the Klook x McDelivery: Happiest Night-In Staycation. "We would like to congratulate Oakwood on the successful management of Oakwood Premier AMTD Singapore attested by the property's operational and commercial success. We extend our best wishes for Oakwood's journey towards market leadership and its global growth momentum," said Clarence Wong, chief operating officer, Southeast Asia and China, of Dorsett Hospitality International. Oakwood was recently honoured as Asia Pacific's 'Best Serviced Residence Brand' by DestinAsian's Readers' Choice Awards 2022 with prestigious Top 10 rankings by readers of the region's leading award-winning travel magazine among 'Best Hotels' for its Oakwood Premier branded properties in national polls for Japan, Singapore and South Korea. For more information, please visit www.oakwood.com/ About Oakwood® Oakwood®, a wholly owned subsidiary of Mapletree Investments, is a leading brand in hospitality management. A pioneer of the extended stay segment, Oakwood manages a global portfolio of award-winning properties that combine the space and comfort of a private residence with the thoughtful services and amenities of a hotel, ideal for both short and extended stays. Through this specially crafted Oakwood experience that spans accommodation options comprising elegantly-furnished serviced apartments, residential units and hotels, guests are invited to feel a sense of belonging, familiarity and reassurance whenever they stay at any Oakwood property around the world. For more information, please visit www.Oakwood.com.
Adani Group bats in UAE's T20 League
- Acquires franchise in the new cricket league ~ Franchise deal inked between Adani Sportsline and UAE'S T20 League~ ~UAE'S T20 League is Emirates Cricket Board's sanctioned, flagship professional T20 League~ DUBAI, UAE, May 9, 2022 /PRNewswire/ -- Adani Sportsline, a part of the diversified Adani Group, has made a landmark foray into franchise cricket by acquiring the rights to own and operate a franchise in UAE's flagship T20 league. Left to Right- Dr Tayeb Kamali, Pranav Adani, HH Sheikh Nahayan Mabarak Al Nahayan , Khalid Al Zarooni, Mubashshir Usmani Licensed by Emirates Cricket Board, the UAE T20 League is an annual event that will feature six franchise teams competing in a 34-match event. Top players from all the cricket playing countries are expected to be in the line-up of different teams. The league will be providing a platform and exposure to upcoming young cricketers. This will be the first major move overseas by the Adani Sportsline that will connect and engage with global fans from across the cricketing nations. Khalid Al Zarooni, UAE's T20 League Chairman said; "It is a proud moment for us to announce the Adani Group's association with the UAE's T20 League as a Franchise team owner. This acquisition fits perfectly in the group of corporates who have already acquired franchise team rights in the League. The trust shown by the Adani Group augurs well for the League and we look forward to benefitting from their business acumen and working together to make our League successful." "We are excited to be part of the UAE T20 league," said Pranav Adani from the Adani Group. "The UAE is an amazing amalgamation of several cricket loving nations. It provides an excellent platform for enhancing the visibility of cricket as the sport goes increasingly global. Our presence here is also a great base for the Adani brand that is contributing significantly to the sports ecosystem in India through leagues such as boxing and kabaddi, and nurturing sporting talent at the grassroots level through the Garv Hai initiative." Mubashshir Usmani, General Secretary Emirates Cricket Board said; "We are extremely pleased to have one of Asia's leading corporates as our franchise team owner. This is a resounding thumbs up to the unique opportunity that the UAE T20 league offers to experienced and established business owners. We are confident that this association will be mutually beneficial for both the Adani Group and the League. UAE's T20 League will attract some of the biggest names in world cricket while also giving a platform and international exposure to local and upcoming players". Adani Sportsline is promoted by the Adani Group whose diverse businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure. The group has annual revenues of over US$20 billion with operations at 70 locations in 50 countries and a market cap of over $222 billion. UAE'S T20 LEAGUE Media Contact; 9811327887 Name: Shivashish Email: email@example.com
Artmarket.com: a Warhol at $200 million explained by Artprice in five points
PARIS, May 9, 2022 /PRNewswire/ -- The glamorous face of Marylin Monroe painted by arguably the greatest artist in the history of the United States is about to elicit the second highest auction bid the art market has ever seen. At least that's what the very prestigious auction house Christie's is hoping, without really justifying its estimate. Shot Sage Blue Marilyn (1964) will be offered on 9 May 2022 in New York, and its sale could well mark a new turning point for the art market. Marilyn Monroe (FS II.29) by | Andy WARHOL | buy art online | artprice Bid on Marilyn Monroe (FS II.29), | Print-Multiple by | Andy WARHOL | Buy art works, furniture, design and art items | no buyer's fees | secured payment Thierry EHRMANN Andy WARHOL - Marilyn Monroe (FS II.29) Ed. 250, sold by Revolver Gallery on Artprice’s Marketplace According to thierry Ehrmann, CEO and Founder of Artprice and the Artmarket.com group, "All the conditions are in place for a new landmark. Last year, a Picasso painting sold for $103 million, but the record that really impressed was the $69 million for a work by Beeple. The market took real risks, which it had not done since the Salvator Mundi in 2017, the only result to ever cross the $200 million threshold". Caution and reason do not always prevail when it comes to bidding on a truly iconic work. But Artprice has nevertheless identified five reasons justifying an estimate of $200 million: the exceptional characteristics of the work and the perfect timing of the sale could indeed galvanize the bidding. 1. Andy Warhol's market at an apex Coming out of the health crisis, Andy Warhol's prices are as buoyant as ever. In 2021, his auction turnover reached $348 million, exceeding the $300 million threshold for the first time in six years thanks to some 1,600 works sold worldwide. In terms of annual turnover, Andy Warhol was once again the third most successful artist in the world, behind Pablo Picasso and his friend Jean-Michel Basquiat. https://www.artprice.com/artprice-reports/the-art-market-in-2021/top-500-artists-by-auction-turnover On 15 November 2021, his painting Nine Marilyn (1962) was one of the centerpieces of Sotheby's Macklowe Collection sale, the most valuable collection ever sold at auction. Estimated between $40 and $60 million, the canvas was finally acquired for $47.4 million. A relatively modest result, it nevertheless marked the relaunch of the ultra high-end Warhol market and reassured sellers. 2. The best period of creation While Warhol works circulate abundantly in auction rooms, his masterpieces remain relatively rare, in particular the most famous series, including Campbell Soup, Mao, Jackie Kennedy, etc. Among these paintings, the color pieces are now almost all in major museums. Of Andy Warhol's five best auction results, four have been works in black and white and the fifth, a work in black and green. None of them sport truly Pop colors. Top 5 Andy Warhol auction results 1. Silver Car Crash (1963) – $105.4 million - 13/11/2013 – Sotheby's NY 2. Triple Elvis (1963) – $81.9 million - 12/11 /2014 – Christie's NY 3. Green Car Crash (1963) – $71.7 million - 05/16/2007 – Christie's NY 4. Four Marlons (1966) – $69.6 million - 11/12/2014 – Christie's NY 5. Men in her life (1962) – $63.4 million - 08/11/2010 – Phillips de Pury NY These five works were all created in the 1960s, Andy Warhol's most creative decade. He also created the Shot Marilyn series in the 60s, including the piece that Christie's will be offering on Monday 9 May. Until now, only one painting from this series has been auctioned: Shot Red Marilyn (1964), which successively sold for $4 million in 1989, then $3.6 million in 1994 at Christie's in New York. 3. A work with a colorful history Shot Sage Blue Marilyn (1964) is from a series of five portraits of America's most fetichized actress in the 1950s, a series that the performance artist Dorothy Podber apparently tried to shoot. The story goes that Andy Warhol naively accepted her request to "shoot" the works, thinking of course that the young woman wanted to photograph them. The error was quickly identified before any damage could be done, but the commercial genius of the American artist turned the incident to his advantage. By adding one more story to the myth of Marilyn, of the Factory, of Pop Art and of 'appropriation', Warhol succeeded in making the five canvases even more exceptional. As Christie's points out, it is not just one of Warhol's most beautiful pieces still in circulation, it may also come from one of the most legendary collections there is, that of the illustrious art dealer and friend of the artist, Thomas Ammann. Like Leo Castelli, Ammann helped to make Warhol's work famous, exhibiting it alongside works by Francis Bacon, Jasper Johns, Mark Rothko, Cy Twombly and Jean-Michel Basquiat. 4. Icon of Post-War Art and NFTs For fifteen years, Andy Warhol has been the most successful Post-War artist on the art market. His success is based on an oeuvre that is distinctly recognizable in all the different radically innovative artistic techniques with which he experimented, techniques that in many respects opened numerous paths for Contemporary Art. By questioning the reproducibility of works as well as the tendentious relationship between art and money, his work challenged many of the assumptions of the Post-War art market. Similar questions are being posed today by NFTs, a phenomenon whose success is intimately based on the rise of crypto-currencies and which plays with "variations on a theme" to the point of creating 10,000 versions in PFP (picture for proof) collections. In May 2021, Christie's offered five digital works by Andy Warhol (found on a floppy disk) in the form of NFTs. 5. An extremely favorable economic situation In 2021, sales of NFTs contributed to the recovery of the global art market. This new category of work accounted for only 1.4% of global art auction turnover (with $232 million), but the results for works by Beeple, Pak and Larva Labs awakened collectors to the possibilities of a less predictable and less well-oiled art market. https://www.artprice.com/artprice-reports/the-art-market-in-2021/key-results-in-2021 Compared to last year, 2022 appears to have started rather cautiously, although London hammered several excellent results, including a superb new record for René Magritte at almost $80 million, and a work by Chardin exceeded $26 million in Paris. But sales have not yet really started in New York. The month of May will therefore mark the real start to the year, with New York's prestigious spring sessions. It is in this context that the sale of Shot Sage Blue Marilyn (1964) will take place, with all proceeds going to charity. Image: https://imgpublic.artprice.com/img/wp/sites/11/2022/05/Andy-WARHOL-Marilyn-Monroe-FS-II-29-1629243005.jpg Copyright 1987-2022 thierry Ehrmann www.artprice.com - www.artmarket.com Don't hesitate to contact our Econometrics Department for your requirements regarding statistics and personalized studies: firstname.lastname@example.org Try our services (free demo): https://www.artprice.com/demo Subscribe to our services: https://www.artprice.com/subscription About Artmarket: Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF. Discover Artmarket and its Artprice department on video: www.artprice.com/video Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987. See certified biography in Who's who ©:Biographie_thierry_Ehrmann_2022_WhosWhoInFrance.pdf Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 770,000 artists. Artprice by Artmarket, the world leader in information on the art market, has set itself the ambition through its Global Standardized Marketplace to be the world's leading Fine Art NFT platform. Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians. Artmarket with its Artprice department accumulates data on a permanent basis from 6300 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 5.4 million ('members log in'+social media) users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France's Commercial Code). Artmarket with its Artprice department, has been awarded the State label "Innovative Company" by the Public Investment Bank (BPI) (for the second time in November 2018 for a new period of 3 years) which is supporting the company in its project to consolidate its position as a global player in the market art. Artprice by Artmarket's 2020 Global Art Market Report published in March 2022:https://www.artprice.com/artprice-reports/the-art-market-in-2021 Artprice's 2020/21 Contemporary Art Market Report by Artmarket.com:https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2021 Index of press releases posted by Artmarket with its Artprice department:serveur.serveur.com/Press_Release/pressreleaseEN.htm Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter: www.facebook.com/artpricedotcom/ (over 5.7 million followers) twitter.com/artmarketdotcom twitter.com/artpricedotcom Discover the alchemy and universe of Artmarket and its artprice department https://www.artprice.com/video headquartered at the famous Organe Contemporary Art Museum "The Abode of Chaos" (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013 L'Obs - The Museum of the Future: https://youtu.be/29LXBPJrs-o www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (4.3 million followers) https://vimeo.com/124643720 Artmarket.com and its Artprice department - Contact: Thierry Ehrmann, email@example.com
Unveiling 25Hours: A One-of-Its-Kind Private Lifestyle Club for Time-Conscious Individuals
SINGAPORE, May 9, 2022 /PRNewswire/ -- Singapore's ultimate lifestyle program, 25Hours, unveils an invitation-only social club that empowers individuals who value time, to live more, do more, and be more. Through its hyper-personalised approach to memorable experiences and luxury privileges, 25Hours members have unique access to handpicked lifestyle experiences, exclusive travel, dining and shopping privileges, immersive activities, and highly personalised services. Aiming to be the most holistic and efficient solution of its kind, 25Hours harnesses the power of technology and the warmth of human experts to enable our members to live more extraordinary lives. 25Hours nurtures and builds a close-knit relationship with people by tailoring recommendations to their preferences and lifestyle. The private club aims to foster a close-knit community of like-minded individuals that are locally rooted and globally connected. Income qualifications will not automatically get members in the door; 25Hours looks out for people with interesting experiences who can add value to the community. 25Hours transcends the boundaries of traditional concierge counterparts. 25Hours offers innovative community building, products, and services that go above and beyond. 25Hours ventures for something greater, being the gateway to experiences people didn't even know they love. Exclusive brand collaborations and unique opportunities are available especially for 25Hours members, in partnership with a multitude of renowned brands such as Prada. In addition, with the 25Hours rewards system, members can save and earn rewards as they spend. While 25Hours can't give life more time, it can give the time they have more life. Making Every Hour Count25Hours exists as a modern lifestyle solution for time-conscious individuals who aspire to live life to the fullest. Its quality products, services, people, experiences, and entertainment choices empower members to focus their precious time on savouring the best of life. In adherence to its ethos, new brand partners are lined up every month to maintain a diverse selection of privileges for its members. The 25Hours team meticulously curates, verifies, and quality-checks all experiences, so people don't have to. 25Hours ensures every recommendation is worthy of time. The digital club's revolutionary recommendation engine adds efficiency and seamlessness to members' lives. Its AI-engine algorithm builds in-depth individual profiles to dynamically personalize each member's 25Hours app experience; the app learns about each user's unique preferences and recommends products and services it already knows they want. Listed below are some benefits that 25Hours members can look forward to: Feast, Savour and Be Treated Like RoyaltyMembers get their pick from an ever-rotating selection of fine dining experiences with exclusive offers not available to the public, including access to hard-to-book Michelin-starred restaurants. For the special, intimate occasions, 25Hours features an impressive list of top-class chefs specialising in various cuisines, ready to create unique one-time menus for private home dining. Luxury Shopping Made Simple25Hours partners with well-known fashion brands to give its members exclusive offers and first dibs on latest collections at private invite-only previews. In addition, an extensive range of goods worldwide are available through the 25Hours e-store, paired with the convenience of doorstep delivery. The club's collaborations with highly sought-after markets in Japan ensure that members have liberal access to in-demand groceries, luxury apparel and accessories. Have a Great Time Anywhere, EverywhereMembers are privy to exclusive travel experiences such as gourmet tours, private after-hours visits to popular tourist attractions, and more. Members also enjoy VIP access to concerts, sports events and international events curated by the 25Hours team. Travel specialists are readily available to customise trips to each member's personal preferences. PCR tests in Singapore are complimentary for fully vaccinated members. 25Hours is an invitation-only lifestyle programme that allows individuals who value time to live more, do more and be more. Visit www.25hrs.com now.
Trina Solar's Vertex S Wins Red Dot Product Design Award 2022
CHANGZHOU, China, May 9, 2022 /PRNewswire/ -- Trina Solar, a leading global PV and smart energy total solution provider, announced that its ultra-high performance rooftop module Vertex S series was selected out of nearly 10,000 entries from more than 60 countries for its advanced design concept and excellent user experience, winning the Red Dot Design Award –--most influential international industrial design award, an "Oscar" for product design, making Trina Solar the first solar photovoltaic (PV) module manufacturer winning this honor in China . The upgraded G12R modules, Vertex S and Vertex 580W, as members of Trina Solar G12 family, will be officially launched at Intersolar Europe on May 11. Thanks to the advanced design and outstanding craftsmanship, Vertex S perfectly meets the high standards of both product function and appearance design of Red Dot Design Award, which was officially announced in Germany Recently. As the star product of Trina Solar's global module portfolio for non-utility scenario, Vertex S combines high power, high power generation, and high reliability. It has been unanimously favored by distributors and customers around the world. Vertex S: the beauty of modern craftsmanship Trina Solar's Vertex S series modules feature excellent product performance along with innovative and design-inspired aesthetics, comes with several design options, including the all-black appearance, to match different architectural styles and application scenarios, while keeping the commitment to environmental protection. For the Vertex S all-black module, black was chosen as the dominant color upon thorough market research. The module adopts black cells with ultra-fine busbars, together with the fine layout of the black frame and back sheet, black label and string busbars, bringing Vertex S an outstanding aesthetic effect and making it visually appealing. Perfect redesign with "Small in Size, Big on Power" Recently, Trina Solar announced that its Vertex 210mm products have been upgraded again through the innovative 210mm rectangular wafer (G12R) cell technology and the latest module design. The upgraded products include the currently available Vertex S series and Vertex 550W modules. After the upgrade, there's a power increase of up to 30W per module, and a module conversion efficiency of up to 21.5%. Both new products will be firstly deployed in global non-utility scenarios, which also perfectly match global mainstream inverters. Trina Solar's two upgraded product lines will be unveiled at Intersolar Europe on May 11, bringing higher and more significant customer value than similar products in the market, driving the industry to new heights. Helena Li, President of Cell and Module Business, Trina Solar, commented: "Coming to this 25th anniversary of its establishment, Trina Solar has exceeded 100GW in its global module shipments. It is Trina Solar's distinguished achievement to stand out from all major brands and win the Red Dot Design Award due to continuous innovation and customer value orientation. In the future, Trina Solar will continue to make breakthroughs in technology R&D, and explore better paths for innovation and development of the PV industry, thus creating more leading PV products for global customers."
Hisense Celebrates Mother's Day, Making Every Moment Incredible through Technology and Interactive Campaign
QINGDAO, China, May 9, 2022 /PRNewswire/ -- Mothers are the heart of every family, giving support to their families and enabling every family member to have a joyful life. On Mother's Day, Hisense honors mothers and females worldwide for their contributions to families and communities, allowing every mother and consumer an even more enjoyable living environment and lifestyle through Hisense initiatives and excellent technologies. &amp;amp;nbsp; #RememberTheName, Express Thankfulness to Mothers As an enterprise with global social responsibility, Hisense has been paying great attention to women's development. Since sponsoring UEFA Women's EURO 2022TM, Hisense has been committed to encouraging female athletes and women sports development, inspiring all females to pursue their dreams. Over and above that, Hisense strives to create better viewing and living experiences for all females and their families, enabling females a chance to have a better lifestyle, moreover, enjoy sports anytime and anywhere. During this Mother's Day, a time of gratitude to females and mothers, and to support females in their daily life and careers in all fields, Hisense has launched an interactive campaign —— #RememberTheName, on social media to encourage consumers to post touching stories and express gratitude to mothers. Meanwhile, as a heartfelt gift for Mother's Day, consumers who joined the campaign, could have a chance to win tickets and enjoy the exciting UEFA Women's EURO 2022TM tournament together joyfully with their beloved mother in July. Since the campaign launched, Hisense has received tremendous participation and touching stories, thoroughly enjoyed and celebrated this grateful season with consumers worldwide. Excellent Technology, Enables a Better and Joyful Family Life To enable mothers and females to enjoy life after a busy day, Hisense has been creating qualified products, making consumers' lives easier and better through technology over the years. For example, when watching football in hot summer, every family needs to prepare iced drinks; to help reduce the tedious work of making ice, Hisense PureFlat Refrigerator's Ice & Water Dispenser function allows consumers to obtain a large amount of ice quickly and save effort, enabling them to enjoy a better football game. In recent years, many consumers have increasing demands for eye protection when watching TV, particularly when watching football matches for a long time may cause deepening eye fatigue; therefore, to help protect consumers' eyes while watching TV, Hisense Laser TV is designed as eyes friendly, helping every mother to protect their children's or family member's eyes, making mothers worry-free while watching TV. Mother's Day is a special time to celebrate mothers' and females' contributions worldwide. Hisense acknowledges and is thankful to every fantastic female and mother in society. Moving forward, Hisense will consistently inspire all females, using technology and qualified products, to create more joyful moments for all females and consumers worldwide.