At a news conference in June, Mr. Bertelli played down the effects of the American economic slowdown on a saturated high end sector.
They will discuss whether to cut consumption taxes, deregulate banking and currency markets, and break up state-owned monopolies that have slowed growth in high-end sectors like telecommunications.
"We're expecting there will be a fair amount of softening in occupancy in the high-end sectors," adds Meyer.
The question that arises for these smaller players is whether to become players in all markets or niche players in the high-end sectors in which they have traditionally operated".
Samsung is under pressure from Apple in the high-end of the smartphone market, while a collection of Chinese OEMs, led by a resurgent Huawei and the ever-competitive Xiaomi, are battling it in the mid- and low-end sectors, particularly in emerging markets like Latin America, India and Southeast Asia.
Free trade tends to mean that the industrial sectors of developing nations either "make it to the big time" and become globally competitive, or else they get killed off entirely by imports, leaving nothing but agriculture and raw materials extraction, dead-end sectors which tend not to grow very fast.
Mr. Cantor agreed that the high-end sector is tightening.
The arrival of high-definition television has been a significant factor in pushing up sales in the high-end sector.
But the high-end sector in retail is red-hot, whether it's superpremium vodka, tequila, blue jeans or chocolate.
"Spending an average of $11 million per club is pretty rich in terms of build-out, even for the high-end sector," he said.
