The Indian Hotels Company Limited unveils China foray
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The Indian Hotels Company Limited unveils China foray
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Category: Asia Pacific - China - Industry economy
- New brands / Affiliations
This is a press release selected by our editorial committee and published online for free on 2008-07-28
first Indian hospitality major to forge a partnership in one of the
world’s leading tourism markets
Taj International Hong Kong Ltd (a wholly owned subsidiary of IHCL), today signed a management contract with Cuiting Hotspring Hotel Management Company Ltd. (a subsidiary of Zhong Qi International Investment Company Ltd.) by virtue of which Taj will operate the latter’s Temple of Heaven Park property in Beijing and the Hainan Hotel project. The agreement was signed by Mr. Liu Longjiang President, Beijing Zhong Qi International Investment Co. Ltd,and Mr. R. K. Krishna Kumar, Vice Chairman, The Indian Hotels Company Limited, which owns and operates 78 Taj Hotels Resorts and Palaces across the world. The foray into China is part of the company’s highly selective global expansion plan.
In close proximity to the landmark heritage site of The Temple of Heaven, a deluxe luxury hotel with 46 rooms is to be developed in the traditional Chinese style. Another 60 rooms will be added shortly thereafter. A key tourist destination, The Temple of Heaven Park, also known as Tiantan Park, is a UNESCO World Heritage Site. It was constructed between 1406 and 1420 and used by Emperors of the Ming and Qing dynasties. The following major structures dominate the Temple of Heaven Park – Altar of Heaven,the Echo Wall, Imperial Vault of Heaven and the Hall of Prayer, with architecture inspired by numerology and elaborate symbolism.
The Zhong Qi Group is also planning to develop a 500-key resort with 40 villas over 60 acres of land in Hainan Island, the premium resort destination in China. The resort will be located 30 kms from Sanya City in the upcoming Xiangshui Bay.
The Hainan province (considered the “Hawaii of of the East”) was created in 1998 as a SEZ to initiate development of its natural resources. It is the most premium resort destination of China and has hosted the prestigious Miss World Pageant 2007. Sanya and Haikou, two major cities in the Hainan province, have attracted major tourist traffic from key source markets such as Russia, Korea, Japan etc among others. Sanya is the focus of hotel developments in Hainan and currently has 160 star hotels (out of which 7 are five star and 18 are four star hotels).
The two hotels will be managed by Taj Hotels Resorts and Palaces.
Mr. Liu Longjiang President, Beijing Zhong Qi International Investment Co. Ltd, said, “The.cooperation agreement for the projects in Beijing Temple of Heaven and Hainan Xiangshuiwan, is a symbolic start with this first step into the Chinese market. We are sure this will bring the world level service standard as well as Indian culture to China. We are confident of future cooperation between the two parties, based on this awareness.”
Mr. Krishna Kumar, Vice Chairman, Indian Hotels Company Limited, said, "China is one of the major tourism hubs worldwide witnessing more than 8% growth year on year (135 million tourists in 2007). With leisure travel contributing to more than half the tourist arrivals, it is critical for Taj to have a presence in this country. Our tie-up with the prestigious Zhong Qi Group for the Temple of Heaven Park, Beijing and the Hainan project is unique and will be a spectacular symbol of India’s association with China.”
The Zhong Qi Group is partnering with Taj Hotels Resorts and Palaces to leverage on its internationally recognized expertise in hotel and resort operations and planning. The Taj Luxury Hotels are differentiated by their product philosophy and service design. They are centered around high-end accommodation, intimacy and an environment that allows their guests unrivalled comfort and privacy.
Taj Hotels Resorts and Palaces is committed to replicate its domestic success onto international shores with plans to build an international network of luxury hotels, which will provide an exemplary product-service combination and in the process create a global brand. The current international portfolio includes luxury resorts in the Indian Ocean, business and resort destinations in the Middle East and Africa, serviced apartments in the UK, a hotel in Australia and three top-end luxury hotels in the US.
About Zhong Qi Group
The Group has interests in mining, biotech, traditional medicine, restaurants and hospitality. It has the following subsidiary companies: Xinjiang Tulufan Gong Qi Mine Smelt Co. Ltd; Beijing Tong Ren Tang Tian An Pharmaceutical Shop; Hainan Xiang Shui Wan Royal International Ocean Park Co. Ltd; Beijing Imperial Delicious Cuisine Co. Ltd; Beijing Tong Ren Tang Temple of Heaven Pharmaceutical Shop Co. Ltd.; Beijing Zhong ke Ben Cao Tang Traditional Chinese Medical Hospital Co. Ltd.; Beijing Cuiting Hot Spring Hotel Management Co. Ltd.; Beijing Tong Ren Tang Dong An men Pharmaceutical Shop Co. Ltd.; Beijing Royal Tea House Co. Ltd.
About SIEM Ltd.Group
SIEM Ltd. Group (Strategic European Investment Management Ltd. Group) is the first representative firm of M&A International (www.mergers.net), the world’s leading alliance for mid-market Mergers & Acquisitions with more than 41 member firms and 400 professionals in more than 39 countries on five continents. Dr. Dana Schuppert Founder, Chairman and CEO of SIEM Ltd. Group has been working in China for 17 years and has played a key role in this initiative.
About Taj Hotels Resorts and Palaces
With a legacy dating back to the launch of its landmark hotel, The Taj Mahal Palace & Tower in Mumbai, in 1903, the Taj portfolio worldwide today encompasses luxury and business hotels, and distinctive leisure resorts, including the luxurious landmark, The Pierre on New York’s Fifth Avenue, Taj Boston, another landmark hotel on Arlington Street, The Campton Place at Union Square in San Francisco, Taj Exotica Resort & Spa at Maldives and Mauritius, 51 Buckingham Gate in London, and Blue, Woolloomooloo Bay in Sydney, amongst others.
Taj Hotels also manages a portfolio of some of the finest authentic palace hotels in the world. These include the magnificent Umaid Bhawan Palace in Jodhpur, the Taj Lake Palace in Udaipur, and the Rambagh Palace in Jaipur.
In the last two years, Taj Hotels announced the launch of six new luxury projects: a Taj luxury Hotel in Cape Town, South Africa, Taj Exotica Golf Resort & Spa in Doha, Qatar; Taj Exotica Resort & Spa on the Palm Jumeirah Crescent in Dubai; Taj Exotica Resort & Spa in Phuket, Thailand, Taj Exotica Resort & Spa in the Saraya Islands in the Emirate of Ras Al Khaimah, UAE and a luxury resort destination hotel in YAS Island, UAE with ALDAR Hotels and Hospitality.
Taj Hotels Resorts and Palaces is part of the Tata Group, India’s premier business house.
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