Hyatt Can’t Build Their Own Hotels… but Shimao Can

Saturday, November 17, 2007 23:48
Comments Off on Hyatt Can’t Build Their Own Hotels… but Shimao Can

Shimao MeridianQuickly following up on the impact of the recent foreign investment regulations in China, I found th article Shimao to build up 20 China hotels in the Shanghai Daily.

Xu Rongmao, Chairman of Shimao, apparently commented at the opening of the Hyatt on the Bund (Shanghai) that:

“As planned, we will open more hotels in cities with robust economic growth such as Beijing, Nanjing, Wuhan and Fuzhou.”

Interesting given they currently only have 3 (all in Shanghai).

The other interesting quote was from Hyatt themselves when the manager of the new facility said it plans to open 16 new hotels in the Asia Pacific region over the next three years, with 12 of them in China.

Why this piece (and the quotes) was so interesting was the timing. After all, in the new catalog, real estate investment in hotels is now a restricted item (so is management).

So, for those looking at the future of hotel and hospitality in China, I would say we are going to see 12 Hyatt/ Shimao hotels….

I am just curious who picked Fuzhou?

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