Steigenberger AG said it is in talks with a few Asian counterparts including the Shangri-La Hotels and Resorts to tap business opportunities in China.
Marcus Bernhardt, senior vice president and head of global sales for Steigenberger, said in Shanghai that the company has been aggressively looking for strategic partners who boast rich local experience. No details were disclosed.
According to Bernhardt, the Frankfurt-based company will probably not operate its own properties in the country in the near future. He cited the difficulty in managing effectively from such a distance as well as the high cost involved.
(Shanghai Daily March 22, 2007)