Carlson Hotels Worldwide Set to Double Portfolio in China Through Strategic Partnership With Sunshine100
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Carlson Hotels Worldwide Set to Double Portfolio in China Through Strategic Partnership With Sunshine100
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2008-01-17
Carlson Hotels Worldwide - Asia Pacific today announced a strategic partnership with the Sunshine100 Group, one of China's top 10 property development firms, which will see the company more than double the size of its current hotel portfolio in China.
The partnership, which was announced in Beijing today by Martin Rinck, president and managing director, Carlson Hotels Worldwide - Asia Pacific and Yi Xiaodi, chairman and president of the Sunshine100 Real Estate Group, will focus on expanding the presence of Carlson's Radisson, Park Plaza and Park Inn brands across China. The Sunshine100 Group plans to build at least 10 hotels which will be managed by Carlson Hotels Worldwide, with target cities including Tianjin, Chongqing, Shenyang, Yantai, Changsha, Nanning, Liuzhou and Guilin.
Said Mr. Rinck: "The partnership with Sunshine100 Group is a very significant development for Carlson and indicates our determination to grow the presence of our world-class hotel brands across the region. Strategic partnerships with companies like Sunshine100, which share our vision and passion for the Chinese hotel market, enable us to deliver multiple hotel development deals, and we are delighted to have found a great partner in Mr. Yi and his group."
In October 2007, Carlson Hotels Worldwide - Asia Pacific announced its first major partnership in the region with Lotus Hotel Investment Fund, a US$1 billion private equity fund established to target hotel development opportunities in high-growth markets including China, India, Thailand and Vietnam. Carlson and Lotus are currently in the final stages of identifying the first hotel projects to be developed by Lotus and managed by Carlson.
Mr. Yi said: "We are proud to enter into this relationship with Carlson Hotels Worldwide. We see enormous opportunities, particularly in secondary and tertiary cities which are currently under-serviced by international-standard business and leisure hotels. We believe the combination of our development expertise and the power of Carlson's world-renowned hotel brands, blended with the great management experience of the Carlson Hotels team, will prove to be an extremely successful formula in China."
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