Wanda Takes First Step in Asset-Light Transformation; Signs Hotel in Wuzhishan

Wanda Hotels and Resorts has signed a management agreement for a Wanda Realm hotel in Wuzhishan city, China.

The signing marks the first step for Wanda Hotels and Resorts in its “asset-light” strategic transformation.

Wanda Realm Wuzhishan in Hainan province is expected to open at the end of 2018.

The Wanda Realm Wuzhishan has a planned overall floor space of more than 20,000 sqm, with 250 guest rooms and suites, 800 sqm of conference facilities, three restaurants and bars, and about 600 sqm of fitness and Spa facilities.

“As the first brand output project of Wanda Hotels and Resorts, Wanda Realm Wuzhishan serves as a significant milestone in our development history. It indicates the company’s first step toward an ‘asset-light’ strategic transformation,” said Mr. Qian Jin, Senior Vice President of Wanda Commercial Properties and President of Wanda Hotels and Resorts. “Wanda Hotels and Resorts is a homegrown luxury hotel management company in China. Since its establishment in 2012, its professional and innovative hotel management team has created the brands of ‘Wanda Realm’, ‘Wanda Vista’ and ‘Wanda Reign,’ which have won recognition and trust in the market in less than four years. We are greatly honored by this. I believe Wanda Hotels and Resorts will remain committed to its pursuit of service quality, operation innovation, and guest satisfaction, as well as in maintaining its excellent management team performance, so as to create unique and oriental brand experiences for guests at home and abroad, and greater market value for the hotel owner.” 

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