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Deluxe hotel chains building, renovating properties.

Publication: Business Travel News
Publication Date: 09-OCT-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Deluxe hotel chains, boosted by the overall strength in the hotel industry, are shuttling billions of dollars into global expansion and renovation projects, in some cases at what the companies are calling unprecedented levels.

Luxury hotels have benefited from increased demand boosted by the resurgence of corporate profits (BTN, March 6), and hoteliers within that tier are capitalizing on that demand. New property openings are imminent both domestically and internationally for the major luxury chains, including some properties that will be the second or more for a chain in certain markets.

The Ritz-Carlton Hotel Co. has seen a significant increase in its business travel usage as it has expanded into major markets, said John Harper, vice president of Ritz-Carlton's international sales offices. During the past seven years, the number of Ritz-Carlton properties nearly has doubled from 35 to 61,...

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