Accor, based in France, is expanding its Ibis hotel brand in China.

(EVRY, FRENCH REPUBLIC) — China is building more hotels, recession or no recession. Accor, a 42-year-old lodging company located in Evry, France, has signed ten new Ibis hotels in China, bringing the total number of Ibis hotels in the country to 26, with 5,348 rooms. the pearl doha

In 2009, 19 more Ibis hotels will open, bringing the total number of Ibis hotels to 45 by the end of the year.

The new hotels, according to Accor, will include two in Beijing that will open by the end of 2009. The Ibis Beijing Capital Airport and the Ibis Beijing Wangjing are the two hotels. This brings the total number of Ibis hotels in China's capital to three.

In the next two years, two new Ibis hotels will open in Qingdao, the well-known holiday resort: Ibis Qingdao Donghai and Ibis Qingdao Ningxia.

Ibis Dalian Zhuanghe and Ibis Jinan Jiefang are two more Ibis hotels set to launch by the end of 2009.

With the signing of Ibis Shenyang Tiexi, Ibis Anshan Shengli Square, Ibis Baotou Aerding, and Ibis Weifang Qingnian, Ibis hotels have committed to four more cities in China beyond 2009, substantially increasing the Ibis hotel network in North China, according to Accor.

New York City remains the most expensive market, according to CBRE's Global Retail Report.

The Americas The most costly retail locations in the Americas are still in the United States. Following New York, which is the most expensive location on the planet, Los Angeles and San Francisco are ranked ninth and tenth in the global ranking.

Despite the fact that vacancy rates for all property categories in the United States continue to rise, the first hints of rental reduction were detected in most major American cities in the first quarter of 2009. Retail expenditure in Latin American countries has been shifting, and retail rents in the area have been affected to varied degrees, with retail rents in Mexico City and Buenos Aires falling by 14 percent and 37 percent, respectively, year over year.

Europe, the Middle East, and Africa are three of the world's most populous continents.

Moscow, Paris, and London (respectively) lead the EMEA region's retail rentals ranking, with Moscow currently the world's third most costly market. The EU-27 Retail Rent Index fell by 3% in the first quarter of 2009, a 1.2 percent year-on-year fall, due to the danger of decreased demand and increased vacancies. Since peaking at roughly 5% quarter-on-quarter in mid-2007, the pace of rental increase in Europe has been steadily dropping. In numerous markets, including Dubai, Barcelona, Athens, and Dublin, prime retail rentals fell by 10% or more quarter over quarter. In most EMEA areas, retailer demand is decreasing, but there are some bright spots, with numerous discount and food stores announcing substantial expansion ambitions.

Retailers are also known to be negotiating with landlords in some regions to gain rent concessions or better lease terms in exchange for lease extensions.

Asia and the Pacific

Leasing activity in major Asian shopping malls remained largely flat in the first quarter of 2009, as retailers postponed growth plans or shuttered unprofitable locations. With annual rents of $975 sq. ft., Hong Kong is the world's second most expensive retail rental market. Beijing, Tokyo, New Delhi, and Singapore have all seen further drops in prime retail rentals. Guangzhou saw the third largest growth in retail rentals year over year, though rates have fallen marginally in the last six months. Sydney, Australia, has the most expensive retail location in the Pacific, with annual rents of $624 sq. ft.