Hote­liers move to reap an­tic­i­pated div­i­dends from B&R

China Daily (Hong Kong) - - HOSPITALITY - By WANG XIN wangxin@chi­nadaily.com.cn

Ex­perts hailed the Belt and Road Ini­tia­tive as a huge boon to the tourism and hos­pi­tal­ity sec­tors at a re­cent in­dus­trial sum­mit, and the ho­tel in­dus­try is now mov­ing to reap the an­tic­i­pated ben­e­fits.

“From the per­spec­tive of in­vestors, the ini­tia­tive is of far-reach­ing sig­nif­i­cance (to hote­liers),” He Cao, co-chair­man of Asia Ho­tel Fo­rum, told the 2017 AHF Ho­tel and Travel In­vest­ment Sum­mit held in Bei­jing in late Septem­ber.

China is fore­cast to re­port about 700 mil­lion out­bound vis­its over the next five years, ac­cord­ing to the China Na­tional Tourism Ad­min­is­tra­tion.

As a grow­ing num­ber of Chi­nese peo­ple opt to travel abroad, coun­tries and re­gions in­volved in the Silk Road Eco­nomic Belt and the 21st Cen­tury Mar­itime Silk Road will see greater de­mand in the ho­tel in­dus­try, He said.

The for­mer board chair­man of Jin­mao In­vest­ments & Jin­mao (China) In­vest­ments Hold­ing Ltd called on Chi­nese en­trepreneurs to ride the wave and make an early move to seek op­por­tu­ni­ties, in re­sponse to the ini­tia­tive.

“Costs will be much lower if you gain early ad­van­tages,” he said.

“De­ci­sions on lo­ca­tion and po­si­tion­ing are the first step”, be­fore ma­ture brands are ex­ported, he added.

Asia is pro­jected to con­trib­ute 28 per­cent to the global tourism mar­ket by 2020, be­com­ing a ma­jor en­gine driv­ing the global sec­tor’s growth, said Taleb Ri­fai, sec­re­tary-gen­eral of the United Na­tions World Tourism Or­ga­ni­za­tion, at the UNWTO Gen­eral As­sem­bly in Chengdu, Sichuan prov­ince, in mid-Septem­ber.

Qian Jin, Hil­ton pres­i­dent of Greater China & Mon­go­lia, told the two-day AHF sum­mit that more than 5,000 ho­tels and re­sorts are run­ning world­wide, with some 200 of them in the Asia-Pa­cific re­gion and another 400 or so un­der con­struc­tion.

When go­ing global, Chi­nese hote­liers need to be clear what their core com­pe­ten­cies are, Qin said.

Li Ruizhong, ex­ec­u­tive deputy gen­eral man­ager of Green­land In­ter­na­tional Ho­tel Group, cited a new Green­land prop­erty that opened in Cam­bo­dia in Au­gust as an ex­am­ple.

He said it il­lus­trated that some B&R-re­lated coun­tries and re­gions, though rich in tourism re­sources, are short of fa­cil­i­ties, in­clud­ing in­ter­na­tional ho­tels.

Sun Jian, chief de­vel­op­ment of­fi­cer for greater China at In­ter­Con­ti­nen­tal Ho­tels Group, said the Belt

Costs will be much lower if you gain early ad­van­tages.” He Cao,

Where tourists flock to sig­nals where cap­i­tal flows.”

Sun Jian,

What­ever busi­ness you are do­ing in China, you need to pay at­ten­tion to the coun­try’s eco­nomic poli­cies.”

Yin Xiaozhou,

and Road Ini­tia­tive is also con­ducive to his com­pany’s ex­pan­sion in west­ern China, in­clud­ing Xi’an, Lanzhou, Xi’ning and the Xin­jiang Uygur au­ton­o­mous re­gion, which are all lo­cated along the an­cient Silk Road in North­west China.

“Where tourists flock to sig­nals where cap­i­tal flows, and we hope to em­brace the trend,” Sun said.

Yin Xiaozhou, vice-pres­i­dent of Bei­jing Yin­tai Prop­erty, said: “What­ever busi­ness you are do­ing in China, you need to pay at­ten­tion to the coun­try’s eco­nomic poli­cies.”

The Belt and Road Ini­tia­tive, pro­posed by China in 2013 to in­crease in­ter­na­tional co­op­er­a­tion, pro­vides such a di­rec­tion, which in­dus­try play­ers need to look to, she said.

Tourism con­trib­utes more than 10 per­cent to China’s GDP, ac­cord­ing to the World Travel & Tourism Coun­cil.

“There are enor­mous op­por­tu­ni­ties within the coun­try, such as in west­ern China and even in the South China Sea,” said Yan Qing­guang, se­nior vice-pres­i­dent of real es­tate & de­vel­op­ment at Hy­att Ho­tels & Re­sorts.

“Over the next 10 to 30 years, the big­gest op­por­tu­ni­ties still re­main in China.”

PRO­VIDED TO CHINA DAILY

The 2017 AHF Ho­tel and Travel In­vest­ment Sum­mit held in Bei­jing in late Septem­ber pro­vides a com­mu­ni­ca­tion and ex­change plat­form for in­dus­trial in­sid­ers.

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