Sanya faces new challenges as supply booms

9 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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