Foreign interest high
While domestic hotel companies remain ambitious about expanding across the country, international firm are also flocking in.
Accor SA, Europe's biggest hotel owner, last month in Shanghai opened its 800th Ibis hotel worldwide as it continued to strengthen its chain of economy hotels.
The Shanghai hotel is the 16th the French group has opened since it entered China in 2004. The economy brand, which charges a comparatively higher price of more than 300 yuan a night, is now available in 14 cities across the country.
The French hotelier said it aims to be running about 50 Ibis hotels in more than 37 cities in China by 2010.
"With booming business events in Asia-Pacific, business clients' demand for economy hotels is also rising, so we placed the 800th Ibis hotel in China to mark the importance of the region, Michael Issenberg, chief executive officer of Accor Asia, said last month.
(Shanghai Daily December 9, 2008)
