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Economy Hotels Enjoying Greatest Potential in China
Economy hotels enjoy a large room for development in China. The status quo of China¨s hotel business is one that features standardized and unified operation of high-end hotels while relatively unconsolidated operation of small and medium-sized hotels. Mitchell A. Presnick, President and CEO of the US hotel chain Super8 said in an interview with reporters from the China Economic Times, ＾Super8 has a dream in China, that is, consumers will be able to find whatever they want wherever they are, just like they have convenient access to McDonald¨s and KFC.￣
Presnick said that Super8 is intricately interested in the huge market potential of China¨s hotel business, especially in relation to Beijing¨s hosting of the 2008 Olympics. He also noticed that despite the fact that chain operation of hotels in China varies in terms of the level of standardization, there is a market vacuum for economy hotels. Though some international hotel companies have set their foot in China, they have largely concentrated their operation on high and middle-end hotels. By contrast, Super8 is the first international hotel chain that is particularly fond of opening economy hotels in the Chinese mainland. Presnick predicted that Super8 network in China will be able to register 150 million USD worth of revenues over its first 5-year period of operation.
Origin:China Economic Times
Time:2004-5-11 10:19:41 Website:
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