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SINGAPORE — Singapore on Friday charged property billionaire Ong Beng Seng on two counts relating to the obstruction of justice and abetment, according to local media, in a case involving a former government minister. Ong, a Singapore-based Malaysian businessman, is the managing director of Singapore-listed hotel owner and operator Hotel Properties Limited . In July, Singapore's anti-graft agency issued an arrest notice for Ong as part of its investigation involving former Transport Minister S Iswaran. HPL's portfolio includes 38 hotels and resorts in 15 countries, operating under brands including Four Seasons, Intercontinental Hotels and Marriott International. Shares of HPL were halted ahead of the court hearing on Friday.
Persons: Ong Beng Seng, Ong, Singapore's, Iswaran, HPL, Mr Ong Organizations: Hotel Properties, Transport, Intercontinental Hotels, Marriott International Locations: SINGAPORE — Singapore, Singapore, Malaysian
IHG One Rewards Premier Credit Card and IHG One Rewards Premier Business Credit Card cardholders receive instant IHG Platinum Elite status. Other ways to redeem IHG pointsOpt for airline miles instead of IHG Rewards pointsIf you'd rather receive airline miles for your stays instead of IHG Rewards points, that's an option, though redemption rates vary by airline. Transfer IHG points to a friendThere's also an option to transfer IHG points to a friend or family member at a cost of $5 per 1,000 points, or buying them through IHG's website. Use IHG points to attend special eventsThrough IHG Auctions, you can redeem IHG points for concerts, sports, special events, or other experiences. IHG Rewards Points Frequently Asked QuestionsHow many points do you need for a free night at IHG Hotels?
Persons: Atwell, IHG, Cash, you'll, It's, You'll, Cardholders, you’re, Bilt, Experian, TransUnion ™, Equifax, Chase, Uber, Smith, IHG cardholders, we've, They'll, cardholders, There's, haven't Organizations: Business, InterContinental Hotels Group, Read, IHG Rewards, Intercontinental Hotels Group, Intercontinental Hotels, InterContinental Hotels, Resorts, Regent, Crowne, InterContinental, Resorts Kimpton, United, Hotels, InterContinental ®, Crowne Plaza, FDIC, TSA, United Travel Bank, Card, Business Credit, Business Credit Card, Chase Travel, Chase, Sapphire, Hotel, Mastercard, Alliance, Chase Sapphire Reserve, InterContinental Alliance Resorts, Macao, Parisian Macao, Hertz, Diamond Elite, Apple, Services, Rewards, Club, Club Member, Gold, Silver Elites, Elites, Elite, Diamond Elites, InterContinental Ambassador, IHG, American Airlines, Alaska Airlines, Delta, JetBlue, United Airlines, Cross, Goodwill, CARE, International Federation of Red, Red Crescent Societies, Diamond, Bilt Locations: Vegas, Venetian Macao, Parisian, OpenTable, Grubhub, Chevron
For Europe, the prime concern is tariffs," wrote Goldman analysts. "If the entire impact came in 2025 this would be enough to eliminate any growth that year (our current top-down forecast is 4%)," Goldman wrote. Within sectors, beneficiaries of rising trade risks tend to be defensive stocks such as utilities, health care as well as Europe's GRANOLAS stocks, according to the bank. But he says a "meaningful selloff" in mega tech will see other names "pushed down as collateral damage." And if the AI narrative plays out as expected, a material sell-off in Mega Tech will present a buying opportunity in those names as well," he wrote.
Persons: Biden, Donald Trump, Trump, Europe's, Goldman Sachs, Goldman, Louis Navellier, — CNBC's Michael Bloom Organizations: Bloomberg, Taiwan, Trump, U.S, JPMorgan, China Gas, Power, Huaneng, Republicans, National Security, Hire, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Liquide, Tobacco, Dassault Systemes, Intercontinental Hotels, Nvidia, Navellier, Associates, Mega Tech Locations: China, Taiwan, U.S, Hong Kong, Europe, United States, Germany, France, Stellantis
The IHG One Rewards Premier Business Credit Card has the highest potential value of any IHG credit card. IHG One Rewards Premier Business Credit Card RewardsIHG Business Credit Card welcome bonus offerThe IHG One Rewards Premier Business Credit Card offers a huge 140,000 bonus points after spending $4,000 on purchases in the first three months from account opening. IHG Business Credit Card Annual Fee and Other CostsThe IHG One Rewards Premier Business Credit Card charges a $99 annual fee. However, if you have other IHG credit cards, like the IHG One Rewards Premier Credit Card or the IHG One Rewards Traveler Credit Card, you're still eligible to open this card. Methodology: How we reviewed the IHG Business Credit CardBusiness Insider's credit cards team reviewed the IHG One Rewards Premier Business Credit Card in comparison to other rewards business cards for travel, particularly hotel business cards.
Persons: It's, you've, you'll, it's, You've, Cash, You'll, cardholders Organizations: Business, Diamond, Resorts, Hotels, InterContinental ®, Crowne Plaza, FDIC, IHG, Chase, Sapphire, Hyatt, Marriott, Mastercard, Business Credit Card, Business Credit, you'll, InterContinental Hotels, Resorts Kimpton, Senses, Plaza, Global, TSA, NEXUS, Canada, TSA PreCheck, United, Business Card, Premier, United Airlines, IHG Premier, Card
Amex Platinum Card and Amex Business Platinum Card cardholders get many of the same travel benefits. It makes premium cards like the Amex Platinum Card and the Amex Business Platinum Card look downright affordable. Card comparison: Unsurprisingly, there's no comparable benefit on the Amex Platinum Card and Amex Business Platinum Card cards. Card comparison: Once again, the Amex Platinum Card and Amex Business Platinum Card also offer concierge services. Amex Black Card benefits frequently asked questionsHow can I get an Amex Black Card?
Persons: cardholders, Centurion cardholders, Cardholders, Centurion cardmembers, concierges, you'll, Porter, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash Organizations: Business, Express Centurion Card, Card, American Express, Delta Air Lines, Delta, Marriott, Hilton, Intercontinental Hotels Group, ®, Delta SkyMiles, Express, Delta Sky Clubs, Saks Fifth, Saks, TSA, U.S, American, LAX, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, Global, Black, Medallion Locations: checkouts, U.S, Canada, Hulu, IHG
CNN —Almost 48 hours after being shown physically assaulting his then-girlfriend Cassie Ventura in 2016 in a surveillance video obtained exclusively by CNN, Sean “Diddy” Combs has apologized. “It’s so difficult to reflect on the darkest times in your life, but sometimes you got to do that,” Combs said in a video statement posted to Instagram. In the video, Ventura exits a hotel room and walks to a bank of elevators. Sean Combs and Cassie Ventura are seen in security video in 2016. Ventura, who reached an undisclosed settlement with Combs, declined to comment on the video obtained by CNN.
Persons: Cassie Ventura, Sean “ Diddy ” Combs, Combs, Ventura, , ” Combs, , I’m, Meredith Firetog, “ Combs, Cassie, , , ” “, ” Ventura, Ben Brafman, Combs “, Brafman, Mr, Sean Combs, CNN Ventura, Douglas H, Wigdor, Aubrey O’Day, Danity Kane, ” Danity Kane, ” O’Day, Sean ‘ Diddy ’ Combs, Alex Fine, shouldn’t, Fine Organizations: CNN, Ventura, InterContinental, InterContinental Century, InterContinental Hotels, MTV, Los Angeles County, Attorney’s, Victims Services, Los Angeles Police Department, LAPD, Violence Locations: Ventura, Century City, Los Angeles,
CNN —A 2016 surveillance video obtained exclusively by CNN shows Sean “Diddy” Combs grab, shove, drag and kick his then-girlfriend Cassie Ventura during an altercation that matches allegations in a now-settled federal lawsuit filed by Ventura in November. In the video, Ventura exits a hotel room and walks to a bank of elevators. Ventura’s attorney, Douglas H. Wigdor, said: “The gut-wrenching video has only further confirmed the disturbing and predatory behavior of Mr. Combs. Sean "Diddy" Combs with Cassie Ventura attend the premiere of 'The Perfect Match' in Los Angeles on March 7, 2016. He is happy they got to a mutual settlement and wishes Ms. Ventura the best.”Details of the settlement were not disclosed.
Persons: Sean “ Diddy ” Combs, Cassie Ventura, Ventura, Combs, Douglas H, Wigdor, ” Combs, , , Sean, Diddy, Chris Delmas, Ben Brafman, “ Mr, ” Brafman, Mr, Aaron Dyer, Organizations: CNN, Ventura, InterContinental, Combs, InterContinental Hotels, Los Angeles, InterContinental Century, Getty, Authorities, Department of Homeland Security Locations: Century City, Los Angeles, Ventura, AFP, California, Florida
Planet Fitness announced Tuesday that Colleen Keating will take over as the fitness club's new CEO, effective June 10. Craig Benson, who has been serving as interim CEO since the departure of Chris Rondeau in September, will remain on the board of directors. The announcement comes after months of searching, and some analysts are calling it a positive for the stock, despite shares falling more than 3% following the announcement. Keating has 30 years of experience in large-scale operations and franchise management, as well as leadership in global consumer-facing operations across hospitality, real estate, operations and franchise management. She previously held leadership roles at InterContinental Hotels Group and Starwood Hotels & Resorts Worldwide Inc.
Persons: Colleen Keating, Craig Benson, Chris Rondeau, Piper Sandler, Korinne Wolfmeyer, Wolfmeyer, Keating Organizations: Fitness, New, FirstKey, InterContinental Hotels Group, Starwood Hotels, Resorts Worldwide Inc
As the U.S. presidential election comes into the spotlight, Goldman Sachs has assessed the potential impact on global markets by changes in regulation, taxation, and other government policies. However, it sees U.S. subsidiaries of foreign companies potentially gaining if Trump delivers on a cut to corporation taxes. On average, European companies generate 25% of sales in the U.S., but most come from U.S.-based businesses rather than exports from the EU, according to Goldman Sachs. As these companies run substantial U.S. operations and assets, Goldman also sees them as benefiting from potential U.S. corporate tax cuts under Trump. However, they flagged that Biden has mentioned increasing the rate of corporate tax, "which would have an impact on US-exposed companies."
Persons: Goldman Sachs, Donald Trump, Trump, DAX, Sharon Bell, Joe Biden, Goldman, Biden, Michael Bloom Organizations: U.S, Ukraine, Trump, Eurostat, Stocks, Intercontinental Hotels Group, Boeing, Aero, BAE Systems, Kerry Group, Goldman, Republican Locations: United States, U.S, Europe
CNN —Flight attendant Ilona Zahn was less than impressed when she first met pilot Ian Duncan. Ilona was working the first class cabin on the Pan American Airlines flight from Rome to Tehran, traveling via Beirut and Damascus. It was, says Ilona, “a long, romantic embrace.”When their Pan Am flight returned to Rome, Ian and Ilona spent the evening walking around the city together. When their flights didn’t coincide, they’d leave letters for one another at Intercontinental Hotels frequented by Pan Am crew. Ilona DuncanWhile Ilona was enjoying her romance with Ian, she was also keen to hold onto her independence.
Persons: Ilona Zahn, Ian Duncan, Ilona, Ian, ” Ilona, , haven’t, Ilona wasn’t, Ilona Duncan Ilona’s, , , , Rome Here's Ilona, Ilona Duncan, warily, wouldn’t, he’d, , she’d, who’d, John F, Here's Ian, He’d, They’d, Rome, ’ ”, Iona, Pan, She’d, ” Ian, Ilona weren’t, Richard Burton, Elizabeth Taylor, Sophia Loren, “ Ilona Zahn, Manhattan –, Pan Am, Duncan, Ilona Zahn Ilona, She’s, Ian’s, I’m Organizations: CNN, Pan American Airlines, CNN Travel, Boeing, Pan, Royal Tehran Hilton, John, Kennedy, Intercontinental Hotels, Pan Am, , Playboy, Airbus, Hotel Metropole Locations: Rome, Tehran, Beirut, Damascus, Tabasco, Worcestershire, , Iran, Germany, London , New York, Paris, American, Trevi, New York, Sydney, Australia, London, Tokyo, Kenya, Bermuda, JFK, Pan, New Delhi, Bangkok, Hong Kong, West Hampton, Long Island, Manhattan, Long Island , New York, Las Vegas, Fiji, Samoa, France, China, Virginia, Chesapeake, , Florida
In this article IHG-GBIHG Follow your favorite stocks CREATE FREE ACCOUNTPent-up travel demand — which drove global travel recovery following the Covid-19 pandemic — is over, said Intercontinental Hotels Group CEO Elie Maalouf. "So we're really past revenge travel — even in China." The company's latest quarterly update showed travel demand remained strong during the close of the summer travel season. Elie Maalouf CEO of Intercontinental Hotels GroupThe company currently operates more than 6,200 hotels worldwide and has another 1,978 in the pipeline. "In the United States, there are about 9,000 hotels that we think are interested in joining a system.
Persons: Elie Maalouf, Maalouf, We're, , it's, IHG, Garner Organizations: Intercontinental Hotels, CNBC, Hotels, Resorts, Dubai —, Holiday Locations: China, Greater China, Beijing, Shanghai, Guangzhou, Shenzhen, Americas, Europe, Middle East, Africa, Asia, , Spanish, Dubai, ., Southeast Asia, Central Asia, United States
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're not moving our Middle East headquarters, says Intercontinental Hotels Group CEOIHG CEO Elie Maalouf disputes reports that the company is moving its regional headquarters to Saudi Arabia, telling CNBC's Monica Pitrelli the company is committed to stay in Dubai.
Persons: Elie Maalouf, CNBC's Monica Pitrelli Organizations: Hotels Locations: Saudi Arabia, Dubai
[1/4] People walk into Jerusalem's Old City via Jaffa Gate, as the conflict wreaks havoc across the tourism sector October 11, 2023. Now they are empty after a devastating attack by Palestinian militant group Hamas in Israel on Oct. 7. InterContinental Hotels (IHG.L) said two of its hotels, Six Senses Shaharut and Hotel Indigo Tel Aviv – Diamond District, were temporarily shut. Australian tour operator Intrepid Travel has called off tours to Israel and Palestinian territories until the end of the year. Odysseys Unlimited has suspended its Israel trips until March 31.
Persons: Sinan Abu Mayzer, Abu Dawoud, Khader Hussein, Jesus, That's, Elias al, Dan Hotels, Isrotel, Dan, Israel, Joanna Plucinska, Steven Scheer, Doyinsola, Yadarisa, Josephine Mason, Mark Potter Organizations: REUTERS, Rights, Palestinian, Hamas, West Bank, Virgin, European, InterContinental Hotels, Indigo, Aviv, Diamond, Israel Central Bureau of Statistics, Arab Hotel Association, Intrepid, Odysseys, NEW, Thomson Locations: City, Jaffa, Rights BETHLEHEM, JERUSALEM, Bethlehem's, Israel, Palestinian, Gaza, Jerusalem, Tel Aviv, United States, European Union, Britain, Europe, Bethlehem, Tel, U.S, West, Australian, Egypt, Jordan, LONDON, Bengaluru
Morgan Stanley named a raft of European stocks with strong balance sheets, lots of cash or high shareholder returns. High cash flow and shareholder returns The bank also screened for companies with "resilient high free cash flow." "Self-financing companies should be better able to weather any prolonged macroeconomic weakness, deploying capital effectively and seizing opportunities that come along the way," Morgan Stanley said. "Cash-rich companies with high free cash flow yields should also have better downside protection, while providing upside potential if management is able to deploy its cash effectively," the bank said. Those firms also have "positive free cash flow and net income growth expected over the next 2 years," the bank said.
Persons: Morgan Stanley, Burberry, — CNBC's Michael Bloom Organizations: CNBC, JD Sports, Sanofi, Airbus, MTU Aero Engines, SAP, WPP, Publicis Groupe, InterContinental Locations: Europe
Morning Bid: Germany to kick off CPI mega-run
  + stars: | 2023-08-08 | by ( ) www.reuters.com   time to read: +3 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 1, 2023. Still, investors' focal point for the week is the U.S. consumer price index amid recent goldilocks data and remarks from Fed Chair Jerome Powell that's given strength to the economic soft-landing narrative. Fed officials continue to emerge from their silence this week after hiking rates another 25 basis points at their last meeting. Investors betting the Fed has reached the end of rate increases will have another chance to gauge their theory when Philadelphia Fed President Harker and Richmond Fed President Barkin speak on Tuesday. Their remarks will be top of investor watchlists after mixed messages about the future rate path from New York Fed President John Williams and Fed Governor Michelle Bowman on Monday.
Persons: Brigid Riley Germany, Jerome Powell that's, Harker, Barkin, John Williams, Michelle Bowman, Fed's Harker, Brigid Riley, Christopher Cushing Organizations: REUTERS, Staff, Federal Reserve, Central Bank's, Philadelphia Fed, Richmond Fed, New York Fed, Bank of Japan, CPI, Hungary CPI, Bayer, InterContinental Hotels, Thomson Locations: Frankfurt, Germany, China, United States, U.S, Richmond, New, Asia, Hungary
Singapore’s clean reputation gets a timely test
  + stars: | 2023-07-18 | by ( Anshuman Daga | ) www.reuters.com   time to read: +4 min
SINGAPORE, July 18 (Reuters Breakingviews) - Singapore could turn a governance crisis into an opportunity. Its transport minister S. Iswaran and Ong Beng Seng, the property billionaire credited with bringing Formula One to the city, were arrested and released on bail last week. The rare high-profile probe involving a public official by the hub’s anti-graft agency is a timely test of the Asian centre’s willingness to act tough on corruption. It's been six days since Prime Minister Lee Hsien Loong revealed the investigation by the Corrupt Practices Investigation Bureau and the exact details remain unclear. S. Iswaran and businessman Ong Beng Seng were arrested on July 11 and subsequently released on bail, the Corrupt Practices Investigation Bureau said.
Persons: Ong Beng Seng, It's, Lee Hsien Loong, Iswaran, Ong, Una Galani, Thomas Shum Organizations: Reuters, Formula, Practices, Beijing, DBS, Hotel Properties, InterContinental Hotels Group, Marriott International, Thomson Locations: SINGAPORE, Singapore, Denmark, Finland, New Zealand, Norway, Asia, Hong Kong, COMO
Singapore's anti-graft agency issued an arrest notice for billionaire Ong Beng Seng as part of its investigation involving transport minister S Iswaran. Ong, who is managing director of Singapore-listed hotel owner and operator Hotel Properties Limited , has been asked to provide information on his interactions with Iswaran. In a filing, HPL said no charges have been filed against Ong and that he is fully cooperating with the agency. The company added that Ong has provided requested information, but is unable to provide further details at this point. HPL's portfolio includes 38 hotels and resorts in 15 countries, operating under brands including Four Seasons, Intercontinental Hotels and Marriott International.
Persons: Ong Beng Seng, supremo Bernie Ecclestone, Ong, HPL, Mr Ong Organizations: supremo, Marina, Circuit, Hotel Properties, Practices, Intercontinental Hotels, Marriott Locations: Singapore
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Chase is offering improved welcome bonuses on the IHG One Rewards Premier Credit Card and IHG One Rewards Traveler Credit Card for a limited time. We've seen lots of travel rewards credit cards launch elevated offers in recent months, and now two IHG credit cards from Chase are offering higher-than-normal bonuses for a limited time. Insider's Featured Credit Cards for Travel Chase Sapphire Preferred® CardCapital One Venture Rewards Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. IHG Credit Card OffersThe IHG right card for you depends on your spending habits, how often you stay with IHG, and whether or not you're willing to pay an annual fee for upgraded benefits.
Persons: Chase, Read, , Chase IHG cardholders, We're, you'd, IHG, it's, cardholders, Cash, you'll Organizations: IHG, Resorts, Service, Chase, Chevron, Target, Walmart, Capital, Hotels, InterContinental ®, Crowne Plaza, FDIC, Reading Chevron, Credit Card, Card, Diamond, United Travel Bank, TSA, Rewards, United, Brands, InterContinental Hotels, Resorts Kimpton, Senses, Plaza, Mastercard Locations: Chevron
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). The IHG Premier Business Card has one of the most valuable bonuses of any hotel credit card on the market. IHG; Chase; InsiderThe IHG® Rewards Premier Business Credit Card is currently offering an increased bonus, but only until 9:00 AM EST, June 28, 2023. Here's what you need to know before jumping on the increased IHG® Rewards Premier Business Credit Card bonus. The IHG Rewards Business Card Is Worth Keeping Year After YearThe IHG® Rewards Premier Business Credit Card comes with much more than just a hefty welcome bonus.
Persons: You'll, , you've, there's, you'll, Cash, Wells, We're, It's, you'd, — Worthington Organizations: Business, Service, Brands, InterContinental Hotels, United, Card Citi, Card, Target, Walmart, Citi, InterContinental ®, Crowne Plaza, FDIC, Reading Chevron, Business Credit Card, InterContinental, InterContinental Maldives Maamunagau, Business Credit, United Airlines, TSA, Rover Locations: You'll, Mexico, Southeast Asia, India, Columbus, Worthington, InterContinental Maldives
The IHG Premier Business Card now has one of the most valuable bonuses of any hotel credit card on the market. IHG; Chase; InsiderThe IHG® Rewards Premier Business Credit Card is currently offering an increased bonus for a limited time. Here's what you need to know before jumping on the increased IHG® Rewards Premier Business Credit Card bonus. The IHG Rewards Business Card is worth keeping year after yearThe IHG® Rewards Premier Business Credit Card comes with much more than just a hefty welcome bonus. What to know about the new IHG Business credit card bonusThe IHG® Rewards Premier Business Credit Card now comes with an abnormally large bonus worth an average of $1,073 in hotel stays.
It makes premium credit cards like the Platinum Card ($695 annual fee) and the Amex Business Platinum Card ($695) look downright affordable. Benefits of the Amex Centurion black cardThe Amex Centurion card isn't just a status symbol; it has some great perks, including some unique benefits like complimentary Delta elite status that you won't find on other cards. The Platinum Card and Amex Business Platinum Card offer status with Hilton and Marriott**, but not with IHG and Relais & Châteaux. Unsurprisingly, there's no comparable benefit on the Platinum Card and Amex Business Platinum Card cards**. Once again, the Platinum Card and Amex Business Platinum Card also offer concierge services.
If you have one of the Chase IHG Rewards credit cards, you'll earn an extra 10 points per dollar with the IHG® Rewards Premier Credit Card and IHG® Rewards Premier Business Credit Card, or 5 points per dollar with the IHG® Rewards Traveler Credit Card. Other ways to redeem IHG pointsOpt for airline miles instead of IHG Rewards pointsIf you'd rather receive airline miles for your stays instead of IHG Rewards points, that's an option, though redemption rates vary by airline. Transfer IHG points to a friendThere's also an option to transfer IHG points to a friend or family member at a cost of $5 per 1,000 points, or buying them through IHG's website. Some of these redemptions are as low as 100 IHG points, so if you haven't had any activity in your account recently, this is a good way to keep your IHG points from expiring. Use IHG points to attend special eventsThrough IHG Auctions, you can redeem IHG points for concerts, sports, special events, or other experiences.
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Chase is offering big elevated bonus offers on the IHG® Rewards Premier Credit Card and IHG® Rewards Traveler Credit Card, but they're only available until the end of the day on April 5, 2023. You can redeem IHG points at brands like Holiday Inn, Staybridge Suites, Hotel Indigo, and Kimpton. Insider's Featured Credit Cards for Travel Chase Sapphire Preferred® CardCapital One Venture Rewards Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. You'll typically get the best return by using IHG points for stays at over 6,000 hotels across 18 brands worldwide.
Maggie Tucker and her husband, both in their early 40s, retired on the same day. Tucker and Woods had a specific plan for how they would reach early retirement. Saving additional money in index funds and getting into real estate investing helped them meet their early retirement goals. Early retirement still held some surprisesWhile there have been relatively few disadvantages to retiring early, Tucker says that there are some — including a sense of ennui. And remember to celebrate: After retiring early, Tucker and Woods took their children on a six-week trip around Europe, visiting six countries in six weeks.
The research points to growing demand for high-end and luxury hotels in China now that the country has ended domestic travel restrictions — and a Covid wave has passed. watch nowThe report said that "37% of the consumers prefer higher star-rated hotels, up from 18% in 2020, with higher-income consumers showing even stronger appetites for luxury hotel stays (47% vs. 31% in 2020)." "The growing mid-/high-income population in China will fuel continued growth in demand for upscale hotels," the UBS report said. "At present, the number of upscale and luxury hotel guest room contribution and brand penetration rate in China are both lower than in North America." "China's hotel groups are still exploring the upscale hotel market, and we think acquisition of established overseas upscale brands may be their best option, and that founding joint ventures with real estate developers could provide property management resources for expansion into the upscale hotel market."
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