Le Meridien signs agreement to operate its first hotel in mainland China

Shanghai Shimao Group and luxury hotel group Le Méridien Hotels & Resorts have today announced an agreement to manage Le Royal Meridien Shanghai, a 722-room, deluxe five star property currently under construction and due to open in the second quarter of 2005. The Hotel will be situated on  Shanghai's famous Nanjing Road in very the heart of the city's shopping, leisure and commercial precinct.

Michael Sagild, Le Meridien Hotels and Resort's Asia Pacific Regional Managing Director, said "Le Royal Meridien Shanghai will set the new benchmark for five star hotels in China. We are striving for the #1 position in the Shanghai market and aim to be the first hotel to qualify for the  prestigious "Platinum Five Star" rating under the new hotel grading guidelines soon to be released by the China National Tourism Administration  Department" Mr Sagild said.

Incorporating the finest appointments in luxury accommodation and the very latest in-room technology, Le Royal Méridien Shanghai will boast an  impressive range of facilities that will embrace the best of all that is Shanghai today. Under Le Méridien's management, this property will stand alone in the marketplace for its elegant European style and personalised service that is customary in all Royal Méridien hotels worldwide.

"It was critical to our Asia Pacific development strategy that our first hotel in the Peoples Republic of China was a truly brand-defining product. The  Hotel's prime location, upper-upscale market positioning and superior size combine to make this project the perfect entry point for Le Méridien into the Mainland China market. We are especially proud to be partnering with Shimao on this project given their unparalleled reputation for producing  high quality real estate developments in China."

Shimao currently has five main projects under development in China and is primarily focused on the high-end residential  and retail market sectors. This is Shimao's first major hotel project.