Third-parties in five years after its formation. Management contracts with more than 200 hotel properties from both Sunac and It will leverage the core competencies of HUAZHU and Sunac “to enter into We are very excited about this partnership, this wedding, because this really shows the change of the dynamics of the Chinese hotel market.” Nong Xia (right) calls the JV with Sunac China Holdings a “landmark deal” as it’s the first time a real estate developer and hotel company have teamed up to conduct hotel management business (with Joseph Wang).Ĭalling the joint venture a landmark deal, Xia, who previously worked with Starwood and Hyatt, told moderator Joseph Wang, chief commercial officer of TravelDaily, “This is the first time ever one of the largest real estate developers has joined hands with a leading hotel company to conduct hotel management business. Speaking at the WiT Travel Roadshow on April 19, Nong Xia, executive vice president & CEO, Global High-end Hotels Business Unit at HUAZHU, said the joint venture would provide hotel management services to Sunac’s hotel properties and potential leased and owned hotel properties of third parties. Landmark JV with Sunac changes “love-hate” relationship between owners and brands, says Nong XiaĬHINESE hospitality giant, HUAZHU Hotels Group (NASDAD:HTHT), will be stepping up its expansion into the high end hotel segment through its joint venture signed in March this year with Sunac China Holdings.
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