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Banyan Tree's boss prunes his five-star hotel strategy

The rooftop of the Banyan Tree Bangkok (Photo by Nozomu Ogawa)

SINGAPORE With China's slowdown and political turmoil in Thailand, Asia's hospitality industry has seen better days. But despite the gloomier mood, Ho Kwon Ping's eyes brighten when he talks about new hotel locations.

"We have signed four very exciting deals recently in Cuba," the founder and executive chairman of Singapore-based hotel and resort operator Banyan Tree Holdings told the Nikkei Asian Review. For Ho, Cuba is packed with potential now that, thanks to its restoration of diplomatic ties with the U.S., American tourists are heading there for the first time since the 1960s. Early next year, Banyan Tree will open a resort in Cuba's Jardines del Rey archipelago, known for its pristine beaches and diverse wildlife.

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