How China’s Jin Jiang and Huazhu put Marriott and Hilton to shame
Two Chinese hospitality groups thrive as Western rivals struggle
COVID-19 HAS, received wisdom has it, been terrible for hotels. The share prices of the eight biggest listed Western groups by room count have slipped by 14%, on average, this year. The glum consensus is, though, being challenged by two big Chinese chains. Both are enjoying resurgent demand for domestic travel as China has tamed its epidemic. And strength at home is fuelling ambitions abroad.
This article appeared in the Business section of the print edition under the headline “Hospitable climate”
Business December 5th 2020
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- The surprising resilience of American restaurant chains
- Volkswagen’s boss takes on the unions
- Congress wants to boot Chinese firms from American exchanges
- Salesforce gets some Slack
- How China’s Jin Jiang and Huazhu put Marriott and Hilton to shame
- Swiss multinationals narrowly avoid new ethics standards
- How the pandemic is forcing managers to work harder
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