Luxury travel demand in China to rise 25% by 2020

Top casino operator MGM Resorts uses brand to open 30 hotels in China

MGM Resorts International is the biggest casino operator on the Las Vegas Strip. But now it is considering opening as many as 30 luxury hotels in China, the world’s biggest growth market for hotels, in the next three to four years. The move, instigated by the luxury hotel unit MGM Hospitality, is designed to take advantage of the demand for high-class travel in China, much of which is domestic. MGM Hospitality is already building 20 properties in the Asia-Pacific region, including nine in Shanghai, Ningbo and other Chinese cities.
It has been predicted that demand for luxury travel and luxury goods in China could increase by as much as 25%, taking up 44% of the total demand around the world by 2020.
Bloomberg
[pictured: Butterfly sculpture featured in lobby of MGM Grand Sanya, Hainan Island]