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H World Group, China’s second-largest hotel operator by rooms, returned to profit in the first half of 2023. An expected boom in post-Covid spending has prompted the firm to boost its guidance on revenue outlook.
The resort operator, owned by Fosun Tourism, said people are now spending 23 per cent more and staying 10 per cent longer than they did before the pandemic.
Constructions - In a volatile context generated by rising building material and utility prices, increasing inflation, as well as the border conflict and the effects of