labels: hotels
Major hotel brands see big opportunity in Asianews
24 January 2007

Major hotel brands have set their sights on Asia as the next big market for the industry.

Hilton Hotels Corp., which earlier this year acquired it's the UK-based Hilton and international rights to the Hilton name, says the group has major investment plans for Asia, including India and China.

Matthew Hart, president and chief operating officer, Hilton Hotels Corp, told an industry conference in Los Angeles, that investing in India, with its "long history of English law," is more straightforward than China, which requires more caution.

On the other hand Steven Rudnitsky, president and CEO of Wyndham Worldwide Corp.'s hotel group, which also operates brands like Days Inn and Ramada find "China an enormous opportunity for us."

He said China's first Wyndham hotel is slated to open later this year and the company's Super 8 economy chain has proven particularly popular. "Eight is a very lucky number for China. Our partner has opened 50 properties so far," Rudnitsky said.

The world's largest hotelier InterContinental Hotels Group Plc, which also operates Holiday Inn and Crowne Plaza hotels, is also diversifying geographically, while investing in strengthening its brands.

Andrew Cosslett, chief executive, InterContinental, "We're strong in East Asia." He said his company is already is the top hotel company in China as well as Japan, where last year it acquired a majority stake in All Nippon Airways Co.'s hotel management unit.

Cosslett said China's government has "a long-term mission" to manage social development so they are not thrown out of power like the Communist regimes of Eastern Europe. Cosslet said the group's plans include infrastructure projects and airline routes linking rural areas with China's developed eastern coast.

"They want to be, and will be, the dominant economic force on this planet for the next 50 years," the InterContinental CEO said


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Major hotel brands see big opportunity in Asia