Peninsula Parent Sees Luxury Hotel Oversupply

March 18 (Bloomberg) -- The parent company of Peninsula Hotel group says it is managing costs wisely to counter intense competition from what it calls an oversupply of luxury hotels globally. Hong Kong & Shanghai Hotels Monday reported a 6% gain in 2013 sales amid a turbulent environment. Even so, Peninsula launches its first European property later this year in Paris and has just revealed its plans to open in Yangon, Myanmar. CEO Clement Kwok told Zeb Eckert he's focused on strengthening the balance sheet. (Source: Bloomberg)

Wynn Macau Profit Beats, New Resort to Come
23:44 - Wynn shares are falling in extended trading after a continued decline in betting activity in Macau. Bloomberg Intelligence's Margaret Huang discusses the data on "Daybreak Asia." (Source: Bloomberg)
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