Word: asianized
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Dates: during 1990-1999
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According to Bush, China's reaction is also crucial to resolving the tensions in the Asian sub-continent...
...business travelers tighten their belts, the hospitality industry feels the pain. Hotel-occupancy rates declined across almost all of Asia last year, according to a report by hotel-industry analyst PKF Consulting in Hong Kong. Asian airlines are struggling through their first serious slump since the industry took off in the 1970s. They are laying off staff members, canceling routes and airplane orders, and cutting back on in-flight food and beverage services. Even in economically buoyant China, the going is no longer as good as it was. The Middle Kingdom relies heavily on Southeast Asian foreign investment, and industry...
What's bad for the industry, of course, is good for those on the other side of the reception desk. Asian hotel rates and economy air fares are sinking fast. In Hong Kong, for example, the estimated average room rate at an international four- or five-star hotel in February dropped to $108 a night, down from $147 the previous year, while in Seoul the price cutting was even more dramatic: to $70 from $143, according to analysts at PKF Consulting. And although business-class seat prices are holding steady, economy fares are 20% lower than last year's, says...
...destinations. Until May 31, Cathay Pacific is offering travelers an All Asia Pass, which includes a round-trip ticket from either New York City or Los Angeles to Hong Kong, for $999, with as many as 17 round-trip tickets in 30 days from Hong Kong to any other Asian city where Cathay flies...
Some tips: When hunting for business-travel bargains, remember that all Asian countries are not suffering equally. In Japan, where inbound business travel went up 7.6% last year between January and November, air fares and hotel rates won't show the dramatic declines seen in, say, Malaysia and Indonesia. And no matter how savvy, individual travelers or companies aren't always equipped to negotiate the best deals. "I was attending a conference in Bangkok, and when we called this hotel, we were charged $85 a night," says Helen Peterson, spokeswoman for the Asia division of the Pacific Asia Travel Association...