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Jumeirah Delays First China Hotel Project
HONG KONG/SHANGHAI - Dubai-based Jumeirah has delayed plans to open a first hotel in China due to the tough financial climate and slowdown in business travellers, hotel industry sources said on Friday.
Jumeirah, one of the world’s top luxury hotel operators, missed its original target to open the planned 338-room Jumeirah Han Tang Xintiandi Hotel in downtown
The company has now re-scheduled the launch of its
The controlling shareholder of the Jumeirah Han Tang project is Leo Investment, a real estate-focused investment firm run by businessman Leo Koguan, and
“Unavoidably, the financial and property markets are currently affected by the worldwide economic meltdown,” Yau said. But she also said Shui On sees expansion opportunities in tough times through consolidation of resources and efficiencies.
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