News for the Hospitality Executive
opportunities at Hong Kong Polytechnic University-sponsored seminar
NEW YORK — APRIL 6, 2007— Frank Hou, President of Jinling Hotels Management Co. Ltd., Nanking, China, will present his insights on the rapidly growing China lodging market as one of the featured speakers at the Seminar on China Hotel & Tourism Development, to be held at New York’s Le Parker Meridien April 27.
A first-time U.S.-held event, the Seminar on China Hotel & Tourism Development is co-sponsored by The Hong Kong Polytechnic University’s School of Hotel & Tourism Management and Hotel Online.
In his presentation, titled “Hotel Ownership and Investment in China,” Hou will offer his insights on the excellent opportunities now available for hotel investors and operators to do business in China.
“China is growing rapidly, as everyone knows by now, due mainly to the phenomenal growth rate in the nation’s economy,” Hou says. “The Chinese government sees the need for more foreign investors to come to China to invest in the hotel market, and the government recognizes foreign investors’ significant financial resources and solid understanding of China’s business practices and principles.”
Hou will discuss the fact that in order to attract foreign investors, the Chinese government has opened up the investment market to offshore investors and created preferential programs, such as tax cuts and other incentive policies, aimed at making hotel investment a more viable option.
Hou will also offer insights on understanding the China’s local business culture and government policies.
“If foreign investors invest and operate carefully and diligently in China, the future is very promising,” he says. “The potential return on their investment will be lucrative and rewarding.”
Ownership scenario undergoing rapid changes
The Chinese government owns the majority of China’s lodging properties, Hou says, but that scenario is changing rapidly. At year-end 2005, of the 11,828 two-stars and above hotels registered by the China National Tourism Bureau, 5,528 were owned by the government or government-controlled corporations, 949 were owned by large private corporations, 256 were owned by foreign private investors, 314 were owned by investors from Hong Kong or Macau, and the remainder was categorized as small, privately owned hotels.
“Although it is still a small sector compared to government-owned hotels, private ownership is the fastest-growing segment in the new hotel market,” Hou says. “In 2005, about 940 new hotels opened in China, and more than 80 percent of them were built by large private organizations or individuals. This trend will continue into the next few years.”
Hou says there are several key reasons for his optimistic outlook for hotel investment in China, the two major ones being rapidly increasing tourism both within the country and from abroad.
“Right now,” he says, “China is the No.4 tourist destination in the world, and according to World Tourism Organization projections, by 2020 China will be the No. 1 tourist destination, with more than 130 millions foreign travelers coming to visit. Also, the domestic tourism market is growing at a phenomenal rate of more than 12 percent annually.
“The future looks very bright over the next five to 10 years at least,” Hou adds, “so the demand for hotels both by domestic and foreign travelers will continue to provide opportunity for more hotels to be built. And upcoming international events, such as the 2008 Beijing Olympics and the 2010 World Expo in Shanghai, will certainly add more reasons for a brighter hotel market both for investors and operators.”
The registration fee for the Seminar on China Hotel & Tourism Development is US$1,000 per person. For registration of three or more person from the same organization, the registration fee is US$500 per person. The fee covers the full day program, one lunch and two coffee breaks.
Cancellations received in writing before 15 April 2007 will be accepted and fees refunded less US$100 administration expenses. No refund thereafter.
Le Parker Meridien
Asia will emerge in the future as the global centre for excellence in hospitality and tourism businesses. This trend will be largely influenced by strong demand for international tourism activities in Asia, growth and success of Asian-based multinational companies in hospitality businesses and, most importantly, the strong hospitality culture and human resources unique to the region. The Hong Kong Polytechnic University's School of Hotel and Tourism Management (SHTM) is uniquely positioned to ride on these 'Asian Waves' and play a leading role in hospitality and tourism education in Asia.
Established in 1979, the Department of Institutional Management and Catering Studies was renamed as Department of Hotel and Tourism Management in 1992. The Department was designated a School in October 2001, which became an independent and autonomous academic unit within the University structure in July 2004. According to the Journal of Hospitality & Tourism Research in 2005, SHTM was rated No. 4 in the world among major academic institutions in hospitality and tourism based on research and scholarly activities, exemplifying the School's motto of Leading Asia in Hospitality and Tourism Education. For more information, visit www.polyu.edu.hk.
|Also See:||Top Industry Educator to Conduct Seminar on China’s Mushrooming Outbound Tourism; Tony Tse of event co-sponsor Hong Kong Polytechnic University will speak at first-ever U.S.-held Seminar on China Hotel & Tourism Development / March 2007|
|TEDA C.E.O. Presenting Overview on Trends in Hotel, Tourism Development in China / March 2007|
|Expanding Opportunities in the Hotel Industry in China Prompts a Special One Day Seminar in New York City, April 27, 2007 / February 2007|
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