China's luxury hotel market is growing - thanks to increasing affluence in the country and an influx of high-end corporate travellers. And one company that is tapping into this market is Raffles Hotels and Resorts.

Raffles recently launched its flagship property in China and is already planning for more such hotels. Raffles Hotels and Resorts has just refurbished a historic hotel in Beijing, turning it into the Raffles Beijing, a luxurious hotel with over 170 guest rooms and suites. The property is owned by government-linked Beijing Tourism Group, but managed by Raffles.

Raffles is one of the first players to enter Beijing's luxury hotel sector. The company says there are also plenty of investment opportunities outside the Chinese capital. Thomas Storey, Executive Vice-President, Development, Fairmont Raffles Hotels International, said, "There are five or six key markets already in China that are already supporting luxury hotels and we think represent that opportunity in the future. Markets like Shanghai...Macau (are) increasingly growing in prominence...So we see those markets as key opportunities today.

The growth is a result of the increasing wealth in China. Outbound Chinese travellers present a huge market for hoteliers. One example is Canada, which was recently given approved travel destination status by the Chinese government.

Source:佚名