Archive for Business/Industry

Four Seasons Hotel, Shenzhen in 1st full year of operation

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THE FOUR SEASONS Hotel in Shenzhen (深圳四季酒店) is now approaching its first full year of operation after opening in September 2013 with a spa due to come on stream before the end of 2014. The 266-room property is located in the Futian business district just 10 minutes’ drive from two Hong Kong border crossings (Futian […]

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China-Europe rail freight service resumes

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THE CHINA-EUROPE land bridge shipping sea containers by rail from Wuhan to Poland via Xinjiang resumed operation last week (23 April) after a break of 18 months.  The plan is for the transcontinental containerised rail freight service to operate twice a month from now until June and then weekly thereafter.   The freight train takes […]

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Dusit to open 6 new hotels in China

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THAILAND’S DUSIT THANI (都喜天丽) hotels and resorts group has announced plans in recent weeks to open six new properties in China with a combined total of 1,378 guest rooms, suites and apartments and 200 villas. The properties are all due to come on stream under Dusit Thani brand management between 2014 and 2017.  Dusit Thani […]

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SanPower snaps up 89% House of Fraser stake

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SANPOWER GROUP SUBSIDIARY Nanjing Xinjiekou Department Store Co Ltd (Nanjing Cenbest) has snapped up a majority 89% stake in high-end UK department store group House of Fraser (owned by the Highland Group) at an offer price implying an enterprise value of some Rmb5 billion (£480 million). The deal is expected to be completed in around four […]

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Aluminium smelter back to profit in 2013

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THE ALUMINIUM CORPORATION of China (Chalco) returned to profit in 2013 after suffering heavy losses in 2012. Chalco (中铝公司 zhonglu gongsi) made a net profit of  just under a billion Rmb (Rmb 948 million or US$155 million) in 2013 thanks to a 16% year-on-year (YOY) increase in sales for the year to Rmb 173 billion […]

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Diageo China sales slow in 2H13

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Diageo is heavily exposed to the white spirit (白酒 baijiu) business in China through its ownership of the Sichuan Chengdu Shui Jing Fang Group whose biggest brand is Shuijingfang (水井坊) white spirit.  “The Shui Jing Fang business was most affected”, according to Gilbert Ghostine, President, Diageo Asia Pacific, commenting on the six months ended 31 December […]

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Fairmont opens 4th China hotel in Nanjing

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THE FAIRMONT HOTELS & Resorts Goup (费尔蒙酒店), which manages the famous Peace Hotel (和平饭店) on the Bund in Shanghai, is opening its fourth hotel in China this month (December 2013) in the Jiangsu provincial capital of Nanjing; the group’s other China properties to date are in Beijing and Yangcheng Lake, Kunshan, Jiangsu Province.  Fairmont will […]

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First Hualuxe-brand hotels from IHG to launch in January 2014

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THE HUALUXE BRAND (華邑) – a new global hotel and hospitality brand with Chinese characteristics – is about to be launched by IHG (Intercontinental Hotels Group) Greater China in 1Q 2014. Although the new brand was conceived and announced over a year ago, the first Hualuxe-branded property is not due to open until January 2014, according to Raymond […]

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China hoteliers battle margin squeeze

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DESPITE REASONABLY HIGH occupancy rates in the 2nd half of 2013, China hoteliers’ profit margins are being squeezed by a combination of high domestic inflation, RMB appreciation and lower domestic and inbound demand.  Domestically, a crackdown this year on the entertainment expenses of government and party officials – particularly in the capital, Beijing – has reduced […]

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Thai Dusit Thani group opens 1st of 30 China hotels

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THAILAND’S DUSIT THANI hotel group has just opened its first China hotel in Changzhou, Jiangsu Province – the first of 30 properties planned to open in China over the next three years. The dusitD2 Fudu Binhu Hotel Changzhou soft-opened on 23 July and will be operated by Fudu Hotels and Resorts, the joint-venture hotel management company between […]

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