From budget inns and high-end hotels to luxury resorts, most hotels in China have doubled or even tripled their rates, with some places costing thousands of yuan.
Macau’s slow hiring process for foreign workers is a key hurdle to fully reopening.
Wanda Hotel managed more than 120 hotels and nearly 28,660 guest rooms as of Dec. 31, 2022.
The Chinese hotel group reported a net loss of USD 12 million for Q4, but a net income of USD 14 million for full year 2022.
Marriott is already well positioned in Greater China with more than 475 hotels across more than 130 destinations.
H World expects its YoY revenue growth to be in the range of 61%-65% in 2023 Q1.
The business volume of Club Med in Mainland China recovered to 54.3% of that of the same period in 2019.
Over 200 million members will be able to cross-book the Group’s domestic and overseas hotels through the platform and link their membership benefits worldwide.
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