China: Mixed messages from luxury market
The hotel industry may be taking a battering in most regions of the world, but in China, it is business as usual for the world’s luxury chains, at least when it comes to setting up camp in the world’s fastest-growing economy. Canadian hotel chain Four Seasons will increase its hotels by 2010,from its current three to eight, and the world's largest private hotel company, Global Hyatt Hotels, has opened its Park Hyatt in Shanghai, the tallest hotel in the world. The chain has also opened two other hotels in Beijing and Guangzhou with plans for another nine by 2010. Dubai-based luxury group Jumeirah will also open its first hotel in Shanghai early next year and has plans to eventually open 10 in the mainland.