Thailand-based Onyx Hospitality and
one of the top real estate enterprises in
China, Sincere Holdings, have formed a strategic partnership to boost the
number of serviced apartments across key Chinese
cities.
Under the agreement, Sincere
Holdings will receive exclusivity rights from Onyx
Hospitality to develop and open Shama serviced apartments,
including those bearing the Shama Luxe and Shama Hub sub-brand
names, in 12 key cities across China, namely Shanghai, Shenzhen,
Guangzhou, Beijing, Chengdu, Chongqing, Hangzhou, Nanjing, Suzhou,
Tianjin, Wuxi and Xiamen.
The first two Shama
serviced apartments to be developed as part of this partnership
will be in Shanghai – Shama Hongqiao Shanghai in Minhang District
and Shama Changfeng Shanghai in Putuo District. Both are slated to
open in 2018.
Douglas Martell, President and CEO,
Onyx Hospitality, said, “China is one of the world’s largest
economies and a key market of growth for Onyx. We are thrilled to
partner with Sincere Holdings Group, a highly respected market
leader in the real estate industry, to expedite our expansion
across China. This partnership brings together joint expertise
from leaders in two different industries and will accelerate the
growth of our Shama brand. It is a major milestone in our journey
towards becoming the best medium-sized hospitality player in the
Asia-Pacific region.”
Shama currently has 18 serviced apartments
across Asia Pacific, including ten in the development pipeline in
markets such as Australia and Malaysia.
Jerry Zhang, Executive Vice
President of Sincere Yuanchuang Real Estate Group, said, “Sincere and
Onyx share a common vision in addressing the quality accommodation
needs of discerning professionals and leisure travellers. We look
forward to capitalising on our unique strength in real estate
development and Onyx’s expertise in hospitality management, and to
reshape the serviced apartments market in China.”
Headlines: |
|
See latest
HD Video
Interviews,
Podcasts
and other
news regarding:
Sincere,
Onyx.
|