Luxury Hotels Target Chinese Customers | ChinaDaily
The beginning of the recovery for China's hotel market began in 2010 and in 2011 demand increased further for rooms. Hotel executives still believe that China is a safe haven for luxury hotels, despite the occupancy rate for 2011 hovering at around 60 percent. The "super five-star" Waldorf Astoria hotel in Shanghai, which opened in April 2011. Hotel operators continued to strengthen their foothold in China in 2011 despite the competitive market.
BEIJING - The beginning of the recovery for China's hotel market began in 2010 and in 2011 demand increased further for rooms.
Hotel executives still believe that China is a safe haven for luxury hotels, despite the occupancy rate for 2011 hovering at around 60 percent.
The "super five-star" Waldorf Astoria hotel in Shanghai, which opened in April 2011. Hotel operators continued to strengthen their foothold in China in 2011 despite the competitive market. Demand has mainly stemmed from the increasingly wealthy domestic customers. According to a report, China had 960,000 individuals with a personal wealth of $1.5 million or more in 2010.