Asian Hospitality Industry Energized

Traveling in Asia last month just prior to the arrival of Chinese New Year, I was again reminded just how dynamic the hospitality industry is in Asia. From the number of hotel brands opening new properties in Kuala Lumpur to the transformation of Singapore as a result of integrated resorts to Hong Kong, new restaurant concepts seem to open daily, and hospitality executives are continually reinventing and reenergizing to stay ahead of the curve. Much of this energy, of course, is driven by major property companies that all seem to have hotel subsidiaries. Flexibility is the key to the success. Market forces change, but the industry in Asia is adaptable. For example, China is experiencing a rapid slowdown in government entertaining, which has been drastically curtailed by the new government.…
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