Sanya faces new challenges as supply booms9 Apr, 2012
Bloomberg reports on the challenges facing the island of Sanya, in China, as its hotel supply is set to triple by 2013 leaving the market with a glut of luxury product. Fifty-two percent of the total 21,000 luxury rooms will be internationally branded. "There’s going to be a huge correction between now and 2014 because there’s an oversupply," said Michel Goget, Ritz-Carlton Sanya’s GM. "The demand is still not there. And the airport is almost saturated, so we are going to be all looking for the same business."Topic : Sanya, China, Supply
External Source : Bloomberg
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