Millennium & Copthorne Hotels (M&C), a division of Singapore property developer City Developments, is embarking on an expansion plan in India, China and the Middle East.
Executives at the London-listed hospitality chain are certain that demand for hotel accommodation in these markets will be profitable in the years ahead.
Lim Boon Kwee, Senior Vice President of Asia for M&C International, said the group has a well-planned strategy to expand its brand in markets that they predict will thrive in the coming years.
“We like Asia, Asia is growing and the ground is very fertile. It definitely is a region that is rich in opportunity at this present moment.”
With hotel room volumes to come onstream in the coming years, he is confident that demand will be proportionate to supply, since Singapore is becoming the destination of choice for visitors from other parts of Asia.
Although M&C has recorded a good mix of guests from different regions, Lim emphasised that Asian travellers staying at the group’s properties in Singapore has climbed by over 10 percent in the past five years.
M&C is currently managing five hotels in Singapore, including the M Hotel and the Grand Copthorne Waterfront Hotel.
He also said that the opening of integrated resorts (IRs) “attract a wider audience and when more people come and talk about Singapore you appeal to more people and that gets more visitors coming our way.”
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