(Feb 3, 2002) As the Chinese Government actively promotes development of the country's western provinces in recent years, Chengdu, the capital of Sichuan province, has become a main hub for economic growth in the western region and this has brought an impetus to the city's tourism and hotel industry.

The Sheraton Chengdu Lido Hotel, owned by Cheung Kong (Holdings) Ltd, opened its doors about a year ago, and has reported average occupancy rate of over 80% for 2001.

According to Mr H L Kam, Deputy Managing Director of Cheung Kong (Holdings) Ltd, "Sheraton Chengdu Lido Hotel has done very well since its opening a year ago. Last month, though traditionally a low-season month, the hotel achieved an average occupancy rate of 90%, with some days reaching 100%. Similarly, during the low season months of May and October last year, the hotel achieved excellent results. Looking ahead, we expect the hotel to maintain its occupancy rate at around 80% for the rest of the year."

Since its opening a year ago, the Sheraton Chengdu Lido Hotel has been host to many dignitaries and celebrities from all over the world. Its list of famous guests includes Her Royal Highness Princess Chulabhorn Mahidol of Thailand; Mr Alfred Huang, Mayor of Adelaide, Australia; Mr John H Chang, Legislator of the Chamber of Taiwan Businessmen in China; and Mr Donald Tsang, Chief Secretary for Administration, HKSAR. The Sheraton Chengdu Lido was chosen as the official hotel when Miss Coco Lee, the first Chinese singer to perform at the Oscar awards ceremony, gave a concert in Chengdu. It was also where Mr Bora Milutinovic, Coach of the China Soccer team, stayed after the team qualified for the 2002 World Cup.

Many large corporations are currently expanding their business bases in western China. Among these is Dragonair, who recently expanded its office and moved into the Sheraton Chengdu Lido Hotel. In addition it has set up a city check-in counter in the hotel to provide an added convenience for its passengers.

At the same time, more and more global luxury product suppliers are seeking to take advantage of the ever-expanding consumer market in Chengdu. In February this year the world-famous French luxury brand, Louis Vuitton, chose the hotel as the location for its first boutique in the region.

China's entry into the World Trade Organization and the government and foreign investors' keen interest in the western region have spurred further demand for top quality, world-class businessmen hotels in Chengdu. The Sheraton Chengdu Lido Hotel, with its elegant guestrooms and excellent range of services, has become the hotel of choice for the discerning traveller.

In the past year, trade missions from Australia, Great Britain, Denmark, Korea and Singapore have selected the Sheraton Chengdu Lido Hotel as their hotel in Chengdu. Top executives from a host of international corporations have also stayed at the hotel and staged banquets, conferences and exhibitions. These corporations include Kodak, IBM, Airbus Industries, Epson, Unilever, Kerry Group, LG, Pfizer, Toshiba, Toyota, Computer Associates, Microsoft, Ericsson, ABB, Sun Microsystems, Warner Brothers, HBO, Cinemax, TNT, News Corporation, Sony TV, Sun TV and China Entertainment TV.

In addition, trade organizations such as AMCHAM, the British Chamber of Commerce and Austrade have chosen the hotel as the venue for their regular meetings as well as their trade fairs.