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More Luxury Hotels Move To Chinese Capital
May 30, 2007 |
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Many of the famous global hotel brands are entering the luxury hotel market in Beijing ,right before the 2008 Olympics, presenting a possible two-digit percentage increase for the city's hospitality sector.
Jones Lang LaSalle Hotels statistics show that six luxury hotels were opened in Beijing last year with an additional 1817 rooms. This year the city will see 13 new hotels with a total of 4005 rooms, while in 2008, a surprising 7112 rooms will be added by 18 upscale hotels. From 2007 to 2008, such famous international hotel groups as Shangri-la, Sofitel, Marriott, Hilton, Westin, Ibis and Novotel will all open their hotels in China's capital city.
The increase of room supply does not affect the profit of the luxury hotels. Jones Lang LaSalle Hotels estimates that by the end of this year, the per room revenue of the luxury hotels will increase by an average 10% over the same period of last year.
As for the situation after the Olympics, President of Jones Lang LaSalle Hotels He Deming is optimistic and says the business activities and tourism pushed by the strong economy are the main factors for the bright future of the hotel market in Beijing.
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