Raffles Hotels & Resorts has signed a new hotel located in Shenzhen, southern China.
Raffles Shenzhen will open in 2018 occupying the top floors of an 80-storey tower in the new One Shenzhen Bay development.
Developed by Parkland Real Estate Development Co. Ltd, One Shenzhen Bay has a gross floor area of approximately 470,000.
According to data compiled by STR Global, hotels in the Asia Pacific region experienced mixed results in the three key performance metrics during August 2013 when compared with August 2012 and reported in U.S. dollars.
The region’s occupancy ended the month with a 3.0% increase to 71.8%, ADR dropped 5.3% to US$119.88, and RevPAR.