Banyan Tree to launch Banyan Tree Kerala (India) in Q1 2013 Banyan Tree chain, a leading manager and developer of premium resorts, hotels and spas in the world, announced plans to develop luxury homes and condominiums in Chengdu, the capital of Sichuan province of China. The residential property will be the group’s maiden residential project … Read more
The 2012 Hurun Rich List, the annual ranking of the 1000 richest individuals in China, reveals that China’s rich are getting poorer and the no. of billionaires is down after six years of growth. In a year when the Shanghai Stock Exchange fell 23%, 469 of the Hurun Top 1000 saw their wealth shrink, … Read more
East-meets-West: Estee Lauder releases Asian premium skincare line Estée Lauder cosmetics conglomerate sells 12 of its 28 cosmetics brands in China, but the Chinses beauty market deserves more. The beauty group focuses the company’s resources on markets with the greatest growth potential. Beginning this October, EstéeLauder introduces a premium beauty line called “Osiao” (pronounced O-shao), … Read more
Maldives to get Louis Vuitton resort The burgeoning list of luxury resorts in Maldives will be enriched in 2013 with a Louis Vuitton Moët Hennessy (LVMH) resort. The luxury giant will built 46 luxury villas on the island of Randheli in Noonu Atoll. LVMH group’s hospitality portfolio include a boutique hotel in St Tropez … Read more
Rising 103 stories above the Pearl River, the new Guangzhou International Finance Center (GZIFC) building’s top 30 floors are home to the the 88th Four Seasons’ property – Four Seasons Hotel Guangzhou. Known to centuries of western traders as Canton, Guangzhou is China’s third largest city, located 120 kilometres (75 miles) upriver from Hong Kong … Read more
Second-quarter GDP growth in world’s second largest economy falls to lowest rate since depths of financial crisis in 2009