May 15, 2009: Committed to promoting the international hospitality industry and bringing greater awareness to China’s role in a recovery from the current downturn, HVS organized two major events in China in April.
The fifth annual China Hotel Investment Summit (CHIS) brought over 500 industry participants from around the world to Shanghai to discuss the challenges the industry faces, as well as new opportunities in China and emerging markets throughout the world. Highlights of the conference included a strategic review of the global and regional economies, hotel financing options in the aftermath of the global financial crisis, proactive asset management to enhance hotel cash flow and property values, and the evolution of China’s resort market and investment opportunities therein.
“China’s GDP is still in positive territory even as the GDPs of the world’s leading economic powers have contracted over the past year,” said David Ling, Managing Director of HVS’ operations in Asia. “The burgeoning opportunities for the hotel industry in China, as well the country’s middle class, who are growing by the tens of millions, will have enormous positive repercussions for hospitality markets around the world.”
From April 25-28, HVS held its internal Global Summit, a biennial event that brings together nearly 100 representatives from the firm’s international network of offices. Kempinski Hotels hosted the first night’s reception and dinner at the Commune by the Great Wall. Shangri-La’s China World Hotel, located in the heart of Beijing’s central business district, hosted the summit’s participants and meetings.
“With tourism and corporate meetings down in so many global markets, we wanted to send the message that we value our hospitality partners and were not going to cancel this year’s summit, despite the state of the economy,” said Steve Rushmore. “The tour guides, restaurants, and the exceptional facilities of the China World Hotel gave us a remarkable experience of Beijing and the opportunity to strengthen our global team. This is what hospitality is all about, and it’s time to once again shed positive light on the benefits of tourism and corporate travel, not only for the hotel industry but for the world economy as a whole.”
HVS is a global consulting and services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. We are client driven and dedicated to providing the best advice and services in the industry. Please visit us at www.hvs.com to learn how HVS can help with your next hospitality venture.