China’s luxury restaurants and hotels are experiencing a decline in business as the government reduces entertainment budgets in a bid to counter public discontent with official excess, The Wall Street Journal reported. More than 60% of restaurants have experienced cancellations since the cutbacks started, according to a report published by the China Cuisine Association on Thursday, which polled 100 dining businesses and hotels in the nation. One high-end Beijing hotel reported that approximately US$1.6 million (RMB10 million) worth of planned expenditure were canceled, the report said.
Categories