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Operations and market reviewSingaporeWith full facilities and strategiclocation within Keppel Bay,Caribbean Residences continuesto experience strong rentaldemand and high occupancy rates.Caribbean ResidencesAs the market leader in their respective locations, bothSedona Suites Ho Chi Minh City and Sedona Suites Hanoicontinue to experience healthy occupancy rate of at least95% in 2006 and are poised to improve their performance in2007 as business and leisure travel continues to grow.MyanmarPersistent economic sanctions against this military-ruledcountry have not deterred tourist arrivals in Myanmar. Touristarrivals rose slightly to 660,206 visitors in the fiscal yearended March 2006. With its rich cultural heritage and naturalbeauty, Myanmar has attracted many European visitors tothe country.Offering an idyllic view of the Inya Lake, Sedona Hotel Yangonis conveniently located within close proximity to the famousShewedagon Pagoda, city centre, airport and other culturalattractions. The hotel is the preferred choice of stay for manydignitaries, multinational corporations and leisure travellers.Sedona Hotel Yangon achieved an occupancy rate of 79%for the 175 rooms in operation. Food and beverage saleshave improved with continuous creative promotions coupledwith aggressive marketing strategies adopted with variousprogrammes in partnership with airlines, trade partners andhotel stay packages.Strategically located within the city, Sedona Hotel Mandalayoffers a good view of the magnificent Mandalay Hill and themajestic Royal Palace. As the choice hotel, it has played hostto many official delegates from different countriesand embassies.For 2006, Sedona Hotel Mandalay achieved full occupancyfor the 56 rooms in operation. With the relocation ofMyanmar’s capital from Yangon to Naypyidaw, the hotel hasseen an increase in government events, resulting in betterfood and beverage sales during the year.Leveraging the Sedona brand name in Myanmar, strategicalliances with airlines and travel agents, aggressive crosssellingbetween the two hotels and constant promotionthrough the Internet and travel publications, both SedonaHotel Yangon and Sedona Hotel Mandalay are expected toimprove on their performance in 2007.SingaporeSingapore attracted a new record of 9.7 million visitors in2006. This was above the Singapore Tourism Board’s targetof 9.4 million visitors, and 9% higher than 2005.Singapore, which has successfully hosted the 2006 AnnualMeetings of the Boards of Governors of the InternationalMonetary Fund and World Bank Group in September 2006,is set to attract more meetings, incentives, conventions andexhibitions (MICE) business.120Operations and market reviewSingaporeKeppel Land LimitedReport to Shareholders 2006