Interstate China Adds Third Shanghai Hotel to Growing Hotel Portfolio
SHANGHAI, March 5, 2012 /PRNewswire-Asia/ -- Interstate China Hotels & Resorts Company ("Interstate China"), a joint venture between Interstate Hotels & Resorts, the largest independent U.S.-based global hotel management company, and China's leading hotel operator and developer, Jin Jiang International Hotels Company ("Jin Jiang Hotels") has announced that it has executed an agreement to manage the 514-room JC Mandarin Hotel effective February 1st, 2012. The hotel is owned by Shanghai Jin Cang Mandarin Hotel Ltd.
"It is our great pleasure to be awarded the management contract for the JC Mandarin Hotel," stated Chris van der Baars, Interstate China's Chief Operating Officer. "The hotel's great history and reputation are a tribute to Interstate China, and we are proud to provide our management and guest service systems and proprietary systems to the property. We welcome the JC Mandarin to the Interstate China family which now represents seven managed and signed hotels with over 2,500 rooms throughout China." This activity follows an announcement in December of 2010 that the company had been named to manage the luxury J Hotel located in Shanghai Tower, anticipated to be the world's tallest hotel scheduled to open in 2015.
Interstate China also manages five-star hotels in Beijing and Wuhan.
JC Mandarin Hotel is located at the center of the city's business and shopping districts at world-famous Nanjing Road. Its well-established five-star service, combined with its history of providing the finest in accommodations and luxury to guests, have made the JC Mandarin one of the city's first five-star hotels.
With 514 spacious guestrooms and one of the city's largest ballrooms, The JC Mandarin Hotel offers its guests the finest in business and leisure facilities. From its Wine Bar & Grille Restaurant for steaks and chops to its Mandarin Pavilion Chinese Restaurant to its Cuba Cigar Lounge, the hotel provides its guests and the local Shanghai community with the ultimate in variety, quality, and service. In addition, the hotel's extensive Fitness Centre and European Wellness Spa provide round-the-clock relaxation and stress reduction for all.
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 eight managed and signed hotels with more than 3,100 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 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 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 37 hotels with over 6,500 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.
