Hangzhou Commerce and Tourism Group (“HTTG”), Zhejiang Dragon Resort Administration Group Co., Ltd (“The Dragon Group”) and Hyatt Motels Company (NYSE: H) right this moment introduced that associates of the three events entered right into a strategic cooperation settlement. The cooperation goals to drive the growth of motels beneath Hyatt’s distinguished Unbiased Assortment and choose service manufacturers in China and foster the strategic growth of The Dragon Group and its lodge manufacturers. On the identical day, it was introduced that The Dragon Group was acknowledged by Hyatt as a third-party administration firm for franchised motels throughout Hyatt’s portfolio beneath Unbiased Assortment and choose service manufacturers throughout the territory of China.
On the coronary heart of this collaboration is a groundbreaking method – combining the distinctive strengths of native giants with the diversified model portfolio and worldwide loyalty program of a global group. HTTG, a forefront tourism group in China encompassing a broad-spectrum of commercial and industrial ventures, and The Dragon Group, famend for its Chinese language-oriented hospitality experience, convey a wealth of native expertise and market presence to this strategic cooperation settlement.
This cooperation units the stage for Hyatt to considerably increase its model footprint all through China. “We’re happy to affix fingers with HTTG and The Dragon Group and increase our franchise development in Asia Pacific. Hyatt continues to hunt revolutionary methods to develop our lodge portfolio by collaborating with house owners and builders who share our values and dedication to increasing our manufacturers in a rustic with such vital development potential,” stated Stephen Ho, president Higher China and development, Asia Pacific, Hyatt.
HTTG is a number one participant with intensive expertise in creating upscale motels in China and has a placing return on funding. We’re assured that Hyatt’s experience within the lodge trade and globally famend model status can unlock unprecedented enterprise development. Chen Guohua, common supervisor, Hangzhou Commerce and Tourism Group
The Dragon Group has profound insights into the Chinese language lodge market, overseeing quite a lot of motels and resorts throughout the nation. With our deep roots within the native market and Hyatt’s world assets in hospitality, we stay up for providing a various vary of selections for visitors and creating distinguished visitor experiences that exceed expectations within the dynamic and extremely aggressive market. Charles Cheng, chairman, The Dragon Group Resort Administration Co, LTD
Beneath the strategic cooperation settlement, Hyatt and The Dragon Group intend to develop greater than 60 motels over the approaching decade, the primary of which is anticipated to be a Hyatt Place lodge in Hangzhou. As soon as affiliated, these motels can be a part of Hyatt’s loyalty program, World of Hyatt, which is likely one of the quickest rising loyalty packages within the hospitality trade. Visitors will be capable to earn World of Hyatt factors and redeem them free of charge night time awards and entry many different advantages at Hyatt places worldwide, which displays Hyatt’s dedication to catering to the evolving preferences of its Chinese language visitors and to repeatedly providing them numerous and distinctive hospitality experiences.
The time period “Hyatt” is used on this launch for comfort to confer with Hyatt Motels Company and/or a number of of its associates.
