V Resorts will use the freshly raised funds to further expand its footprint in the country, and to enter newer markets in South Asia and the Middle-East.
Zhuiyi Technology will use the funding for developing AI technology and products, recruitment, ecosystem building and overseas expansion.
It had signed contracts for direct connection with Airbnb, Ctrip-backed Tujia and Meituan-owned Zhenguo.
The development will incorporate modern designs and green concepts into the industrial site where the hotel is scheduled to open at the end of 2021.
In cooperation with WeChat Pay, Shangri-La Group will now deploy offline mobile payment and offer guests in its China hotels.
The company will build more hotel projects in Hengqin and is very upbeat about the local tourism hotel sector's future development, Bulley said.
Airbnb needs allies in China and this investment creates a soft alignment with Softbank.
In 2018, IHG increased its Greater China system size to 391 open hotels (115,000 rooms) and 142 signings for 29,000 rooms, taking the pipeline for the region to 341 hotels and 78,000 rooms.