Luxury hotels do fine despite fewer tourists

SINGAPORE: The hotel industry is experiencing some softness this year, in line with the sluggish growth in tourist arrivals, but luxury hotels are bucking the trend and pulling off strong growth, according to the Business Times. A slump in visitor arrivals from Singapore’s second-biggest source market, China, is dragging down overall tourist numbers while increased competition from new hotels is contributing to a challenging environment for the hotel industry. — Reuters This article first appeared in The Edge Financial Daily, on August 12, 2014.   For more information on Building and Construction seminars, please visit www.asiapacificevents.com