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(From South China Morning Post)
Byline: Hotels Denise Tsang
Shangri-La Asia, one of the largest operators of upmarket hotels and resorts in Asia-Pacific, has vowed to open five hotels each in Europe and North America to capitalise on the growing number of outbound Chinese travellers.
The move is part of a plan to add 27 hotels to the chain's roster by 2010, taking its total to 73.
Marking the first step in its overseas push, the hotelier signed an agreement this month on a 195-room Shangri-La hotel in central London, scheduled to open by 2009 at a cost of GBP35 million ($517.86 million).
Giovanni Angelini, Shangri-La's chief …