Langham Hotels International announced in Beijing on Thursday that it would invest more than $1US billion in China over the next five years, the official Xinhua News Agency reported. Winnie Tang, director of public relations (China) of Langham Hotels International, said the funds will be used to open new hotels, redecorate existing hotels and acquire other hotels in China.

Moreover, the luxury hotelier will conduct research towards China's hospitality market. Langham Hotels will continue to grow in China, although the ongoing financial crisis negatively impacted the global tourism and hotel industries. According to the company's plan, Langham Hotels will open 15 new hotels in China in the next five years, Langham Hotels will expand in the country mainly through its two upscale brands Langham Place and the Langham, added Tang. The company also intends to enter Chinese cities, such as Hangzhou, Suzhou, Xiamen, Chongqing and Chengdu. Previously, Langham Hotels launched a boutique hotel in Shanghai under its brand the Langham, becoming the first five-star boutique hotel in the largest city in China. Moreover, the company has plans to open two more hotels in Beijing in 2010 and one in Guangzhou City of Guangdong Province in 2011. China's hotel market is seen as promising despite the global economic recession. Last month, InterContinental Hotels Group PLC (IHG) revealed its plan to expand the China portfolio with another 100 properties in the next two or three years. France-based Accor said in March it would double the number of hotels under its management in China before 2011.