SHANGRI-LA Asia Ltd, the region's biggest luxury-hotel operator, may book fewer rooms this year as rising airfares and a slumping world economy hurt tourism.

"It is generally considered unlikely that hotels will experience the high levels of occupancies witnessed in 2007," the company said in its earnings report on Tuesday. Shangri-La's net income fell 15 percent to US$135.7 million in the first half, its first profit decline in four years.