International hotel groups are increasing their presence in China, betting on the cheaper end of the market as the country’s economic slowdown hurts travellers’ budgets.
Hyatt, IHG and Radisson are among the global hotel chains expanding in the world’s second-biggest economy — and converting some of the many unoccupied office blocks to hotels — as they look to target younger, more cost-conscious travellers.
Hyatt, the US hospitality group known for upmarket brands such as Grand Hyatt and Hyatt Regency, has about 170 of its more than 1,300 hotels in China. It plans to add another 140 in the next four years, about half of which will be part of the mid-range UrCove brand.
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