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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3718)	11/21/2004 3:07:10 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Luxury-hotel growth shifts to China Elaine Kurtenbach Associated Press Nov. 21, 2004 12:00 AM SHANGHAI, China - Elevator shafts at Regent are empty. The concrete floors of the half-built hotel are bare. Windows haven't been installed. Still, General Manager Martyn Standen looks at the building and sees a strong contender in Shanghai's competitive market for luxury hotels. Premium hotels are opening all across Shanghai, Beijing and other Chinese cities as Ritz-Carlton Hotel Co., Hyatt Corp., Starwood Hotels & Resorts Worldwide Inc. and other companies pour billions of dollars into expansion. Others are opening motels to serve a market that didn't exist five years ago: Chinese travelers with their own automobiles. advertisement With growth slowing in North America and Europe, hotel chains are targeting Asia and China in particular. They point to occupancy rates as high as 90 percent in Shanghai as proof there's plenty of room. azcentral.com