China’s Strict Covid Policies Likely to Deter Future Hotel Investment
Photo Credit: Skift
Skift Take
Even if more Chinese cities follow the recent lead of Beijing and Shanghai in easing Covid restrictions, major hotel companies will still tread cautiously regarding future development in the country. Especially since widespread lockdowns could occur again if Covid cases surge.
Daily Lodging Report
Skift’s Daily Lodging Report is a subscription-required, email-only newsletter read by anyone and everyone in the hotel investor, owner, and operator space, including CEOs of some of the industry’s top brands. It covers North America and Asia Pacific with two separate regional editions.Here are some excerpts from the Daily Lodging Report during the past week. If you’re not a subscriber, you should be. Sign up now, here.
Sunday, May 29The Grand Hyatt Convention Center hotel in Miami Beach, FL is set to begin site work with an estimated completion date of 2025. The hotel will include 800 guestrooms including 48 suites, 90,000 square feet of indoor meeting space plus 10,000 square feet of outdoor space, 5 food and beverage outlets, 2 pools, a gym, club lounge and 320 parking spaces. Terra and Turnberry are the project developers.
Skift Note: Hyatt executives have been bullish on the prospect of group business travel making a significant recovery.
Monday, May 30Hilton announced the signing of an agreement with CKR Resorts Private Limited to launch Hilton’s flagship brand in Hyderabad. The Hilton Hyderabad Resort & Spa is spread across 15 acres, situated in Shamirpet, Hyderabad near Genome Valley.
