In the November 2012 report, we provided an overview of the luxury hotel sector in China that discussed the huge growth and importantly that luxury hotels are a place to entertain and relax, as much as to stay. F&B represents approximately half of the revenues of the sector. What is also important to note is that Chinese luxury consumers have over the past five to ten years expected hotels to be new, city centre, marble clad palaces and not older buildings with history and character that of course affected their choices when staying overseas.…..

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