The Carlson Rezidor Hotel Group will launch two original brands in China and plans to quadruple the number of its hotels in China in the next four years.
Chinese hotels are under pressure, with wobbling RevPAR adversely impacting the overall profitability in Q1.
Hangzhou-based Zhuyou Hotel Group’s COO Yangqing Shi said its Pod Hotel has completed a Series C financing round.
Four major CEOs in China’s hotel industry had a rare and candid discussion at the “CEO Chat” event at the TravelDaily China Hotel Marketing Conference.
SIMPLE Capsule Hotel has won a joint investment from Shanshan Ventures and PIF in its Series A financing round.
“Many Chinese travelers see the hotel they stay in as a symbol of career status.“
Jin Jiang reported a 41.48% increase in revenue and 59.1% increase in net profit in Q1 y-o-y, at RMB909 million and RMB154 million respectively.
After concluding a US$442 million purchase of Hilton International’s Hilton Sydney, Bright Ruby is also looking to buy The Westin Sydney for US$400 million.
