Six Continents Hotels today announced it has signed a Letter of Intent (LOI) with China Anda (Beijing) Travel and Resort Co., Ltd., a Sino-American joint venture company, to manage 40 Holiday Inn Resorts in the People's Republic of China (PRC). To capture the burgeoning business and leisure market, the Holiday Inn Resorts will be developed over the next five years in resort locations by China Anda (Beijing) Travel and Resort Co., Ltd. Six Continents Hotels will manage the hotels and the related service facilities of the time-share villas.
"China is one of our fastest growing markets and represents a major opportunity for Six Continents Hotels in the region. We were the first international hotel chain to operate in the PRC with the Holiday Inn Lido Beijing in 1984, and today we are the largest," said Richard Hartman, Managing Director, Six Continents Hotels Group, Asia Pacific.
"One of Six Continents Hotels long-term goals is to make Holiday Inn as prominent in Asia Pacific as it is in the United States. We are doing this with sizeable partnerships and investments behind cutting-edge new properties that will attract guests. In essence, we are moving to the next stage of shaping the Holiday Inn brand in Asia Pacific. This is part of our strategy to build a global suite of high-growth, high-return hotel brands that are market leaders, enhancing revenues and returns for our business partners," continued Mr. Hartman.
"We are pleased to be partnering with a dynamic organization like China Anda (Beijing) Travel and Resort Co., Ltd. We are confident that Holiday Inn, the world's most recognized brand for quality mid-priced accommodation, will provide strong returns for our hotel partner," said Edmund Ip, Chief Operating Officer Northern Asia, Six Continents Hotels.
"We will continue to expand our leadership position in China, which is now being augmented with greater depth in primary and secondary cities and resort destinations through our partnership with China Anda (Beijing) Travel and Resort Co., Ltd.," continued Mr.
Ip.
Six Continents Hotels currently has 11,000 guest rooms across 39 hotels in major cities in Greater China. The market is experiencing major expansion - its growing importance as a global trading partner, its flourishing leisure regions and the 2008 Beijing Olympics - all of which will spur business and leisure activity.
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