Oversupply hurts Chinese hotel rates, executive says

04/25/2014 | CNBC

The Chinese hospitality market continues to suffer from an oversupply of hotel rooms, which has put pressure on rates, said Hong Kong and Shanghai Hotels Chief Executive Officer Clement Kwok. "When a new market opens up it is quite normal that you will see a lot of new supply go in," Kwok said. "At the moment many people see great future prospects for China and they are building hotels in China."

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