Read the following passage and answer the following questions.
Hotspots Changes, But Global Giants Continue to Dominate in Hospitality
Hotel investors and operators are eagerly watching the rising Asian markets for hospitality hotspots. A number of cities in Asia are emerging as attractive global tourist destinations – Shanghai, Beijing, Guangzhou, Bangkok and Dubai. These cities have already seen a rapid increase in hotel construction as well as other indicators that denote key interest from the hospitality industry. Moscow and Seoul are other candidates in this rising group of cities.
Other cities in Asia are also rising, though not as meteorically as those mentioned above. Riyadh, Manila and Hanoi are following on the examples of their neighbours mentioned above.
However, the case of Istanbul and Sao Paulo as fallen rising giants in the hospitality watch-list show that this kind of interest can be fickle. Nine cities, known as the Global Giants, dominate the hospitality industry because they account for almost a quarter of number of hotel rooms available globally, and also nearly half of the total global investment. Within this group, New York and London, with their many business and leisure centers, are the undisputed leaders. The two cities attract almost 30% of global investment – US $23 billion per year.
In addition to these two categories, there also exists a group of mid-sized cities that get consistent attention from the hotel sector. Denver, Seattle and Vancouver are popular tourist destinations for both North American and global tourists. They rank in the top 30 investment destinations for hotels.