Name: Inside China’s luxury hotel boom | CNBC Reports
Uploaded: 2020-04-23T19:30:55.000Z
Duration: 8 min 53 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

New hotels are opening up everywhere you look.

Adverbs of degree

So I've come here to understand just where this trend might be headed.

From the Bulgari hotel in Shanghai to the Rosewood in Hong Kong,

these luxury hotels are just the tip of the iceberg in China.

I'm starting in Shanghai at two brand-new five-star hotels.

Then I'm heading to Beijing to get inside this millennial-focused members-only club

My luxury hotel experience ends in Hong Kong, at this presidential suite 57 floors high,

and you're not going to believe the price tag per night.

Join me as I bring you inside some of China's newest luxury hotels.

Despite the Chinese economy slowing down last year for the first time in nearly three decades,

the Chinese consumer's expensive taste is still driving the growth of the luxury market.

The knowledge of the Chinese luxury traveler has grown exponentially.

The Chinese customer now, they are very well educated. They're much more now into personalized service.

In fact, for the first time ever, there are now more Chinese people in the top 10%

of the richest people in the world than there are Americans.

It's this group of people fuelling the growth of the luxury sector.

Chinese consumers are expected to account for about two-thirds of the industry's growth.

And luxury hotels are hoping to reap the benefits,

with the region's major cities all growing their stock of five-star rooms.

Beijing leads the way with about 40,000 five-star rooms, followed by Shanghai, Macau and Hong Kong.

The Chinese luxury traveler is the most booming segment of luxury in the world.

And a lot of China's luxury growth is being driven by its younger generation.

The average luxury traveler in China is 33 years old vs 56 years old in the U.S.

The Chinese millennial is a little bit more sophisticated.

These young millennials have already seen the world.

Now they're looking for an experience that the world doesn't really know exists yet.

So how are the latest hotel offerings hoping to cater to these young, luxury travelers?

Here in the heart of one of Shanghai's most popular shopping districts, is the Shanghai Edition.

I arrive at the hotel, which opened its doors a year ago and I am immediately struck

by the lobby that doesn't quite feel like a lobby.

It's a nice place to have a fabulous cocktail, and you just never know who you will see walking through the lobby.

The social lobby is meant to emulate a town square.

The hotel attracts mostly 25 to 35-year olds, primarily Chinese, and the demographic skews female.

With such a young demographic, you can bet that technology is the name of the game.

You can use your phone to get into your room.

And soon, they tell me, all guests will need is to show their face.

The Edition says it's all about creating an experience full of discovery.

This is called the club room, and it's a spacious lounge dedicated to hotel guests only.

And it's really meant to really emulate that feel of a private members club.

A few minutes away lies this newly-opened Bulgari Hotel,

it's the sixth hotel opened by the luxury Italian jewelry brand.

Adjacent to the hotel is this restaurant and ballroom,

which was formerly the Shanghai Chamber of Commerce.

From the tiles to the roof, it's all been preserved to maintain its original feel

and now this space is used for everything from fashion shows to corporate events and weddings.

There are 19 luxury suites here, but there's one in particular that catches my eye.

Here is the signature suite. It's called the Bulgari Suite.

The price tag? $20,000 per night, plus tax.

Next, I'm headed to Beijing, where I visit Chao. And don't call it just a hotel.

Chao is a lifestyle brand for millennials.

Besides the usual accommodations and restaurants, it also serves as a members-only club,

which hosts regular events ranging from art exhibitions to movie screenings.

We wanted to address the crowd that is rather millennial in its attitude.

Our clients tend to have a vision of their environment which is unscripted.

"I want breakfast, but I want the experience of breakfast, I want the emotion of breakfast."

This staircase leads you to an event space.

The reception is off to the side, where staff is all dressed in sleek streetwear.

The design elements are fleshed out to a tee.

The staff is situated on the same side as the counter as not to create a gap between the staff and the guest.

Everything you see here is somewhat unconventional.

This isn't typically what you would see when you enter a hotel.

Exactly, that's not even a lobby. It's an introduction to a concept.

It has an element of discovery. You have not experienced the product

before you connect with the product. They're seeking stories to tell. They're seeking experiences to live.

And the elements of discovery William refers to is apparent even during my tour.

Behind the bar is this wine cellar which isn't just used for wine, but also for private events,

And while the restaurants here are open to the public,

you'll need to apply for a membership to enter the clubhouse.

But before you can even think of applying, you'll need to be nominated by two current members.

Now Chao is looking to expand the brand beyond Beijing.

Finally, I end my luxury hotel tour in Hong Kong.

I've come to the St. Regis in Hong Kong which only opened several months ago.

Now when guests arrive here, instead of going to a front desk to check-in,

they're greeted by a butler who escorts them to their room.

As soon as you come out of your car, we immediately put you at ease.

We take you through the journey of the hotel and we 100% check you in your room

and at that time we've determined whether you want full butler service,

you want partial butler service or if you just want to be left alone.

The St. Regis has 129 rooms and I get a glimpse inside the most prestigious one,

This 250-square meter suite is opulent in every sense of the word.

Finally, I'm ending my hotel journey at this newly opened Rosewood Hotel.

That notion of not creating hotels, but truly creating big family residences,

or mansions, or manors has been core to the brand.

Besides the usual treatments for your body, this spa also looks after your mind.

It even offers cognitive behavior therapy with a licensed practitioner.

There are 400 rooms here but I'm most interested in this one.

It's called the Harbour House, the Rosewood's version of the presidential suite.

It takes up the entire 57th floor and there're two pools,

one of which is an infinity pool that overlooks the Hong Kong skyline.

It's so big, at one point, I even get lost.

A whopping $100,000 a night, making it one of the most expensive hotel suites in the world.

Who is this for? Of course, for very few people,

dignitaries, celebrities, or simply, people who have had everything.