Leading luxury hotel companies remain bullish on their prospects in China as they continue to expand their presence in the world's fastest growing economy.
The Ritz Carlton Hotel Company, which operates more than 70 hotels across the globe, announced on Tuesday that it will open two more hotels in China this year to cement its position as the leading luxury hotel brand in the country.
With the opening of The Ritz Carlton Shanghai, Pudong, and The Ritz Carlton, Hong Kong, the United States-based hospitality company will increase its China presence to eight hotels by the end of this year.
"We made the decision more than 12 years ago when we opened our first hotel in the country that China was strategically important to us and we have time and time again shown our commitment to and belief in China as a crucial business and leisure market," said Mark DeCocinis, regional vice president of The Ritz-Carlton Hotel Company.
The 285-room Ritz Carlton Shanghai, Pudong, located in the South Tower of Shanghai ifc, a landmark commercial development in the heart of Lujiazui, will officially open in May to coincide with the World Expo while The Ritz-Carlton, Hong Kong, is due to open in November as the world's tallest hotel, occupying floors 102 to 118 at the International Commerce Centre in Kowloon, the highest skyscraper in Hong Kong.
Raffles Hotels & Resorts, a luxury hotelier which opened its first China property in Beijing a few years ago, also said yesterday it plans to open two new hotels in Tianjin this year and in Hainan Province in late 2011.
"Globally, we plan to triple our portfolio over the coming three years," said Jeannette Ho, vice president of marketing and sales for Raffles.
