May 23 2008
Asian Hotels Look To Grow In Americas
Impervious to recent economic slumps, US and European based hotel chains have continued to grow their holdings in all of Asia as a core principle in their growth plans. Not surprisingly, eastern hotels have big plans to head west as well.
Shangri-La Hotels, a Hong-Kong based company has been extending its reach west, first in India, and now with new holding in the middle east.
“Our development philosophy is to select locations which will allow us to showcase the brand in markets with high potential for Shangri-La guests,” said senior vice president for development Marc Hediger. “As well, the mid-to-long-term expansion strategy is to enter markets to accommodate the increasing outbound traffic from China and Asia to the West.”
Banyan Tree Holdings Ltd., a Singapore based company, has 23 worldwide holdings with plans to grow into the west as well.
“World travelers really see the world as their oyster,” said Ho Kwon Ping, executive chairman of Banyan Tree Holdings. “They’ll visit Prague this year and Phuket the next, to Maldives this year and Mayakoba the next. With global air travel becoming increasingly convenient, seasoned travelers are now seeking more exotic destinations—places and roads less traveled.”
One can only wonder if we’ll ever run out of places and roads.
