June 3rd, 2015 137
Shangri-La Opening Affords Ulaanbaatar a Taste of Luxury
by Michael Kohn
June 3 (Bloomberg) Six years after construction began, Shangri-La Hotels and Resorts opened its first property in Mongolia Wednesday to target business travelers seeking opportunities in the nation’s nascent mining economy.
The Shangri-La opening “is a welcome symbolic event, coinciding with the turn of Mongolia’s fate,” said Munkhdul Badral, head of market intelligence firm Cover Mongolia.