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The year president prices everybody and the slowdown in China is impacting business travel but Europe and Asia are true regions.
-- hello why is undergoing a major expansion and the luxury division John -- slices global how to help -- what luxury brands he joins me now on sat so.
You're expanding the and Europe -- -- start there and.
-- is it didn't unreal if you look over the last few weeks all those earning reports that came up from all those luxury brands that were all flying which is -- -- counter intuitive.
With what's going on with the overall economy.
Europe is the same thing it's.
Our occupancies in Europe and across the market are actually growing well some of the other occupancies of other hotels.
Our little bit kind of depressed people are going for their luxury vacations.
I think surprised to hear that because a lot of the -- big brand -- the public companies that follow person's private but.
They've been hit it -- been hit by Asia and Europe and these -- the -- there is that your ex.
While there might be slower than that they might be slower than what was anticipated -- if you look at the market numbers -- other luxury sector.
Is stronger than the other sectors of the in that is global -- a global phenomenon that -- -- You have -- it's in Germany it actually got a property opening up.
Yeah exactly Waldorf welder from Berlin is betting -- agrees -- -- is interesting and creative ways that the different islands and different start for -- Conrad older put through.
Got -- -- -- that's -- also.
You know you really aren't you you're not you're not concerned.
Well so and so you don't deal it it it's difficult -- fills in the Americas in traditional Europe right now to the financing.
But we have found our way we you know -- the -- Chicago just recovering the number one hotel in the world but that this big studio tell it by travel and leisure.
In Europe it's a little bit different so you have your Gateway cities you know Paris London and for sure we have presence there.
But there are other places that we find opportunities brokering a -- -- -- story in Amsterdam.
And Sudan needs a -- hotel and we have the perfect -- him in the for sort of really have to kind of look at the market.
-- -- -- Conrad all of our for have been although it is the Palm Beach -- Portugal if you would.
And we found this opportunity.
In only a few weeks were opening -- hotel in in Edinburgh Scotland.
Which just needs.
A -- of story.
Us more about seeking out a specific opportunity that it played a city that is underserved.
He's right about the overall economy.
In Germany exactly it was exactly those who -- Asia ventures have been the same thing that -- South Korea onyx.
We are -- pretzel is going to be it's going to be interest rates in the new businesses district of -- we have been working enough for a long time but -- going to be outstanding.
In Asia what happens is reopening Gateway cities first the good examples Conrad Bangkok -- been -- for years and then it extends into resort locations slick Conrad who assuming that we recently opened.
You know we are trying to be the fastest growing most innovative luxury hotel car company in the -- And then you get talk about China.
-- yeah you know we keep hearing slowdown in China that you know the world as well I I -- all of us and I know you have a lot of other experts here.
-- I will tell you -- you know slow down from double digit the single digit.
You know we're open Gateway cities there as well.
But then we go to secondary cities which have ten to fifteen million -- -- just opened Conrad and Dolly in China we have another one opening to show.
We have another one opening here we have one open already.
So you know this -- that the growth thing is really input to the luxury sector.
I mean it's still happening -- And it's like she wouldn't great very into sinks like it's like up with a plan your name of another -- market very ancient strategy for you thank you very much -- decided not gonna show okay thanks alright John.
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