Marks Growth of Hotel Management Platform in China
SHANGHAI, Feb. 28, 2012 /PRNewswire-Asia/ -- Interstate China Hotels & Resorts Company Limited ("Interstate China"), today announced that it has signed an agreement to manage the 850-room DoubleTree by Hilton hotel, the first DoubleTree franchised property in China. The hotel converted to the DoubleTree by Hilton Shanghai-Pudong on February 28, 2012 and will immediately begin a multi-million dollar (USD) comprehensive renovation to be completed in 2013. This represents the seventh Interstate China-managed or signed hotel in China, including the previously announced luxury J Hotel located in Shanghai Tower anticipated to open in 2015. Interstate China is a joint venture between Shanghai Jin Jiang International Hotels Company Limited ("Jin Jiang Hotels"), China's leading hotel operator and developer, and Interstate Hotels & Resorts, the largest and leading U.S.-based global hotel management company.
"Our joint venture with Jin Jiang Hotels is a business model that we have successfully implemented in other regions, and it is extremely gratifying to be the first hotel operator of a franchised DoubleTree by Hilton hotel in China," said Jim Abrahamson, Interstate’s chief executive officer. "The Company’s outstanding reputation as a quality operator of leading international brands, and our highly experienced Interstate China executive team combined with our depth of resources and infrastructure will support our planned growth in China."
Andrew Clough, senior vice president - development, Middle East & Asia Pacific, Hilton Worldwide said, "This is a watershed project for Hilton Worldwide as it is the first franchise licence agreement we have signed in China with our fast-growing, upscale DoubleTree by Hilton hotel brand. Shanghai Eastern Jin Jiang Hotel Co. Ltd. and its parent company, Jin Jiang International Holdings Co. Ltd, have established themselves as a formidable force within the hospitality sector in China with numerous properties to their name."
Formerly the Sofitel JJ Oriental Hotel, the two-tower 850-room hotel is located in Shanghai's dynamic Pudong district, offering convenient access to Pudong International Airport and the Shanghai New International Exposition Center (SNIEC). Amenities include more than 16,000 square feet of flexible meeting and special event space, a fitness center, spa with men’s and women’s sauna and steam facilities, outdoor tennis courts, indoor swimming pool and extensive retail shops. As part of the hotel’s upcoming refurbishment program, a new 800 square meter (8000 square feet) ballroom will be constructed, while all food & beverage outlets, meeting and banquet space, and retail offerings will also be re-designed and revitalized to meet the high quality standards and contemporary style of DoubleTree by Hilton brand. The hotel is owned by Shanghai Jin Jiang International Hotels (Group) Co. Ltd. Additional information is currently available at www.shanghaijjorientalhotel.com, and can be found on the web at www.shanghaipudong.doubletree.com as of the conversion date of February 28th, 2012.
About Jin Jiang Hotels
Shanghai Jin Jiang International Hotels (Group) Company Limited ("Jin Jiang Hotels") is one of the leading hotel operators and managers in China. Jin Jiang Hotels is licensed to use the well-regarded “Jin Jiang” and “Jin Jiang Inn” brand. As at the end of 2011, Jin Jiang Hotels owned and managed 858 Star-rated hotels and Budget hotels in China with in China with over 123,000 rooms either in operation or under development, spanning across more than 190 cities in 31 provinces, autonomous regions and municipalities in China. The Group was ranked 12th in the world in terms of number of rooms as at the end of 2010 according to HOTELS Magazine, the official publication of the International Hotel & Restaurant Association.
About Interstate Hotels & Resorts
Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer and Jin Jiang Hotels, is the largest and leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, conference centers and independent hotels worldwide. The Company and its affiliates manage and/or have ownership interests in nearly 400 hotels with more than 70,000 rooms in North America, Europe and Asia-Pacific. The Company has ownership in 58 of those hotels, including six wholly owned hotels. Interstate also has executed agreements for 27 hotels with over 5,100 rooms under construction or development throughout the world. For nearly two decades, Interstate Hotels & Resorts has been operating hotels outside of the United States and in 2010, the Company entered China with the formation of Interstate China Hotels & Resorts. The Company's global management platforms in Western Europe, Russia, India and China provide owners and developers a successful combination of large-scale resources, international experience, and comprehensive hotel management operations including sales and marketing, revenue management, e-commerce, procurement, food and beverage operations and technical services for hotel owners and developers seeking a proven hotel management company. For more information about Interstate Hotels & Resorts, please visit www.ihrco.com.
About The Thayer Group
The Thayer Group (“Thayer”) is a US-based private equity firm with a lengthy and successful track record that spans multiple investment cycles. The firm was founded in 1991 and has consistently provided returns for investments via its hospitality funds. In addition to its hotel investment funds, there is deep experience and success at new venture investments for technology and innovative businesses. Thayer first entered China in 2005 with its investment in Shanghai-based HUBS1. This has proved to be rewarding. The HUBS1 CRS system is now the leading web-based, real-time, Central Reservation System in today’s market, which provides client hotels a one-stop seamless connection to all major Global Distribution System (GDS) companies, hundreds of third-party websites, travel agencies and corporations. In 2010, Thayer followed its initial foray into China with a 50/50 joint venture with Shanghai Jin Jiang International (Group), Company Limited to privatize Interstate Hotels & Resorts, Inc. Since the acquisition, the company’s management contracts have increased 34%. Thayer is also a joint venture partner in JTR Realty and Marvel Hotel Brand, which are both based in Shanghai.
About Interstate China Hotels & Resorts Company
Shanghai-based Interstate China Hotels & Resorts Company, a joint venture partnership with Interstate Hotels & Resorts and Jin Jiang Hotels, was established in 2010 to pioneer hotel management operations in the region. The Company’s management platform provides hotel owners and developers with the resources and economies of scale necessary for world-class operations of franchised hotels under leading international brands and landmark independent hotels. Hotel management services include experienced owner and brand relations; sales and marketing, revenue management and e-commerce; food and beverage operations; human resources; accounting and finance; and design and construction consulting services for hotel owners and developers seeking a proven and experienced hotel management company. Currently, Interstate China has seven managed and signed hotels with more than 2,500 rooms throughout China. For more information about Interstate China Hotels & Resorts, please visit www.interstatechina.com, or contact Chief Operating Officer Chris van der Baars at info@interstatechina.com.
About DoubleTree by Hilton Hotels
With a fast-growing global collection of contemporary, upscale hotels in more than 280 gateway cities, metropolitan areas and vacation destinations across five continents, every little thing we do at DoubleTree by Hilton inspires us to create a rewarding experience for our hotel guests, our team members and the communities we proudly serve. Our hospitality begins with a warm chocolate chip cookie welcome upon arrival and continues with the award-winning Hilton HHonors guest loyalty programme, an array of fine services and amenities and our longstanding CARE Culture tradition that empowers more than 75,000 team members to provide the special comforts and acts of kindness that make the traveller feel human again.
To make reservations at any DoubleTree by Hilton hotel, travelers may visit our brand website at www.doubletree.com.
About Hilton Worldwide
Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 93 years, Hilton Worldwide has offered business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,800 hotels and timeshare properties, with 630,000 rooms in 88 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®. Visit www.hiltonworldwide.com for more information and connect with Hilton Worldwide at www.facebook.com/hiltonworldwide, www.twitter.com/hiltonworldwide, www.youtube.com/hiltonworldwide, www.flickr.com/hiltonworldwide and www.linkedin.com/company/hilton-worldwide.
