Global hotel chains bank on China's continued economic growth

04/12/2013 | HotelNewsNow.com

China's lodging market is expanding alongside the rapid urbanization in its cities as international hotel chains stake their claims in anticipation of a boom in domestic travel demand. "The growth that's happening there, the acceleration that's happening in the higher end of the hotel market is something that we see as ... not an immediate but a once-in-a-lifetime opportunity over the next few years," said Frits van Paasschen, president and CEO of Starwood Hotels & Resorts Worldwide.

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