[photopress:hotels_marriott_hotel_guangzhou.jpg,full,alignright]The latest foreign firm to expand in China amid the country’s economic boom is luxury hotel group, Marriott International. It hopes to open 24 more hotels in China over the next three years.
Marriott Hotels which launched its first hotel in China in 1989, says with the pending Olympic Games, it will add over 1,000 rooms in Beijing. The U.S hotel group also has its eye on the MICE (meeting, incentive, conference and exhibition) market, which is rapidly growing across China.
Three new hotels trading under the names of Marriott, Renaissance and Courtyard by Marriott will be opened in the capital this year.
The big plans for the 24 new hotels will, of course, depend totally on what happens to the price of oil. If it goes up to $200 a barrel — which is possible but perhaps not totally likely — there will be a very quick revision of plans. If it were to stabilize at, say, $120 a barrel — again possible but not likely — then the hotels will boom. Our illustration is the impressive Marriott Guangzhou.