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Western hotel chains build on China's change
(Agencies)
Updated: 2005-06-27 16:57
U.S. and other Western hotel companies are expanding rapidly in China, as the country emerges as an economic superpower and prepares for the 2008 Olympics.
Working with local developers, Marriott, Hyatt, St. Regis and Ritz-Carlton are some of the five-star U.S. brands pouring billions into the country.
Hotels executives say rooms in upscale hotels in Beijing and Shanghai can fetch prices rivaling those found in large U.S. cities.
Midprice hotels, such as Holiday Inn and Days Inn, are also proliferating.
Starwood is building 16 hotels in the country, more than in any other country outside the USA.
Marriott, Hyatt, Carlson and U.K.-based InterContinental Hotels are also building more hotels in China than in any other foreign country.
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