Low Occupancies Threaten U.S. Chain Expansion in China
From Bloomberg:
Room Count to Rise by 52% by 2013
The expansion in China of hotel chains including Hilton Worldwide and Hyatt Hotels Corp. (H) may be undermined by low demand as four in 10 rooms sit empty. China’s occupancy rate was 61 percent in the first nine months of this year, the same as the year-earlier period and the lowest in Asia after India among 15 countries tracked by STR Global, a consulting and research group. In Shanghai, only about half of hotel rooms were filled, compared with more than 80 percent for Singapore and Hong Kong, it said. Click here for the full story.
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