This despite a cosy deal with the government that allowed the hotel to be built on interest-free bonds and operated with no tax, cheap rent, and even, for a while, a duty exemption on the luxury items that its managers imported to fill its rooms.

ECONOMIST: Red elephant

They market their rooms the same way Wal-Mart markets a lot of its items: low price, low margin, but make it up on volume.

FORBES: What Does It Take To Start A Hotel?

The rooms' white, quilted walls include strips of Velcro to attach pictures and personal items.

BBC: A space of one's own