Ritz-Carlton to Expand in China Even as Government Cuts Expenses
This article is for subscribers only.
Ritz-Carlton, the hotel brand owned by Marriott International Inc., said demand for luxury hotels in China will withstand an economic slowdown and government spending curbs.
About 10 percent to 15 percent of the 200 new luxury, lifestyle hotels that the Marriott group will add in the next three years will be under the Ritz-Carlton brand in the Asia-Pacific region, said Victor Clavell, vice president for the chain in the region. The brand has 10 hotels in China, its fastest-growing market in Asia, while more than 20 are under construction, he said.