[photopress:Cosslett_Intercontinental.jpg,full,alignright]Major hotel brands have set their sights on Asia as the next big market for the lodging industry. Andrew Cosslett, chief executive of InterContinental Hotels Group, the world’s largest hotelier which also operates Holiday Inn and Crowne Plaza hotels, said at an industry conference held in Los Angeles that InterContinental ‘is investing in our brands and diversifying geographically.’ He said it is already the top hotel company in China.
Steven Rudnitsky, president and CEO of Wyndham Worldwide hotel group, which also operates such brands as Days Inn and Ramada said, ‘China is 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.
Andrew Cosslett said China’s government has ‘a long-term mission’ to manage social development. The plans include infrastructure projects and airline routes linking rural areas with China’s developed eastern coast. He said, ‘They want to be, and will be, the dominant economic force on this planet for the next 50 years.’
Source: Reuters
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