Hyatt Hotels Corp. and Chinese hotel chain Homeinns Hotel Group will make a to-be-named hotel brand targeting young travelers in China. The brand will fall in the upper-midscale segment, which Hyatt categorized as underserved in China. “As earnings levels continue to rise, China’s middle class is looking for larger-high-quality offerings and travel experiences,” according to a press release.
The brand will cater to Chinese travelers’ preferences. Homeinns Hotels, an affiliate of BTG Hotels that had about three,900 hotels in much more than 400 Chinese cities at the finish of September, will give the nearby knowledge when Hyatt will bring its practical experience with premium hospitality, mentioned Homeinns Hotel Group chairman and CEO David Sun. Stephen Ho, president of Higher China worldwide operations for Hyatt, mentioned the deal will give Hyatt a deeper understanding of the Chinese industry when enabling the organization to develop the Hyatt brand.
The joint venture plans to open hotels in Beijing, Guangzhou, Shanghai, Shenzhen and other Chinese cities more than the subsequent 5 years. Hyatt had about 100 hotels totaling 27,000 rooms in its China pipeline as of Dec. 31.