Ritz-Carlton, the luxury hotel chain, plans to open 25 hotels around the world in the coming three years, with about one third in China and Asia, to tap the region's ballooning growth potential.
Victor Clavell, the hotel company's Asia-Pacific vice-president, said Ritz-Carlton would add at least five more hotels on the mainland, where it already had eight hotels.
'It's the fastest growing market and this is where we grow the most. And we believe that China will be one of the most important markets for the hospitality industry globally,' Clavell said.
He said the company would open a new hotel in Tianjin this year, followed by another two in Chengdu and Nanjing next year. It also signed deals to expand its footprint in Wuhan and Dalian.
'We're very well represented in the east corridor of China in all the major tier-one cities. Right now, we start to look at the tier-two cities that are growing at a much faster pace than tier-one cities. Also we're looking because our customers are growing in China in particular, which is very important for us,' Clavell said.
The chain did not disclose its average room rates in China, but it said rates were climbing steadily and outperforming its competitors.
