Businessmen traveling to Shanghai will soon have another fabulous option when it comes to short-term stay. French high-end hotel chain Sofitel Luxury Hotels has signed a new management agreement in China for its future flagship in Shanghai – the Sofitel Shanghai Jing’an, which is scheduled to open in 2011.
It will be the third Sofitel in the city. Located in downtown Shanghai, the new hotel is surrounded by luxury boutiques and international companies, including L’Oreal, GE and KPMG. It is also close to the People’s Square, where the Shanghai Grant Theater and a bunch of museums are located.
Sofitel has 23 hotels in China so far, including Beijing, Chongqing and Dongguan. Two other new hotels will open in Lianyungang, Jiangsu province, and Haikou of Hainan province in 2013 and 2014 respectively.
As China’s financial center, Shanghai houses a bank of expensive hotels, including Burj Al Arab , The Peninsula and Hyatt. In fact, there are over 2,800 high-end hotels in China, which raised some concerns whether the luxury hotel market is becoming overheated.
According to Hong Kong media Wen Wei Po, occupancy rate in some five-star hotels in Shanghai was less than 10% in the first half of 2009 because of the financial crisis, posing a huge risk that hotels should not overlook.
photo credit : sofitel