|
|
Marriott aims to double China portfolio over 5 years
|
|
|
|
| Top Stories |
 |
|
|
|
PR Newswire | 24 May, 2010
SHANGHAI: Marriott International (NYSE: MAR) has signed management agreements for seven additional hotels in China and aims to double its presence in the country in about five years. Marriott's largest market outside of North America is China where the company expects to have 60 hotels open across six brands by year-end 2010, including eight flying the company's Ritz-Carlton flag. Among properties opening this year in China are stunning Ritz-Carlton hotels in Hong Kong and Shanghai Pudong.
(Logo: http://photos.prnewswire.com/prnh/20090217/MARRIOTTINTLLOGO )
The seven newly-signed hotels are:
* The 320-room luxury JW Marriott Hotel Dalian, owned by Liaoning Baocheng Real Estate Development Co., Ltd. (2013). When opened, the hotel will be Marriott's first property in Dalian and ninth JW Marriott-branded hotel in China.
* The upscale 507-room Renaissance Sanya Resort & Spa, owned by Ranya Zhonggang Fishery Co., Ltd. (2011). When opened, it will be Marriott's third property in the greater Sanya area.
* The deluxe 269-room Renaissance Zhuhai Hotel owned by Guangyi Real Estate Development Co., Ltd. (2013) It will open as Marriott's first hotel in the city.
* The moderate-priced 260-room Courtyard by Marriott Fuzhou Hotel owned by Fuzhou Zhengfeng Real Estate. (2013) When opened, the hotel will be Marriott's first property in Fuzhou.
* The moderate-priced 265-room Courtyard by Marriott Kunshan, owned by Kunchan Dongzhixin Real Estate Co., Ltd. (2011 When opened, it will be Marriott's first hotel in Kunshan.
* The upscale 350-room Hangzhou Marriott Hotel, owned by affiliates of Hualian Holding, a subsidiary of China Union Development Group (2014) When opened, it will be the fourth Marriott International flagged hotel in the city.
* The upscale 330-room Shanghai Marriott Hotel Minhang, owned by an affiliate of Shanghai Minghjie Real Estate & Development Co., Ltd. (2015).
"China is arguably the world's most compelling tourism market today. Its buoyant tourism industry will host 2.1 billion domestic and international tourists this year, an increase of 12 percent over 2009. Within the next 10 years, China is expected to be the world's single largest source of international tourism and its number-one travel destination," said J.W. Marriott Jr., chairman and chief executive officer of Marriott International.
"We are excited to be part of this dynamic growth with our close partners in the Chinese real estate community who develop and own the hotels we operate under our brands, and we are tremendously pleased to add these seven properties to our pipeline in China. We look forward to expanding our presence in our signature full-service and Courtyard brands."
JW Marriott Hotel Dalian
Part of a mixed use development including office space, retail shops and high-end apartments in the Xinghai Bay area of Dalian, the city's new financial and commercial center, the architecturally striking JW Marriott Hotel Dalian will be situated near the Dalian Xinghai Convention and Exhibition Center, the Dalian World Expo Center and office buildings housing many of the world's prominent companies including IBM, Sony, Panasonic, Ericsson, Siemens and Volkswagen. Dalian Zhousuizi International Airport is a 30-minute drive away.
The hotel will have three stunning restaurants including an informal three-meal dining outlet, a Chinese restaurant with six private dining rooms and a specialty, themed outlet with two private dining rooms. Also featured will be an inviting lobby lounge that will change mood throughout the day and a vibrant entertainment bar. Recreational amenities will include a fitness center and world-class spa with six treatment rooms. For social events and conferences, the hotel will have 1,620 square meters of space comprised of a 1,050-square meter ballroom divisible into four sections, a 150-square meter meeting room and five other meeting rooms in varying configurations.
Business-oriented services will be comprised of a business center with two small meeting rooms and an executive lounge with a small meeting room. State-of-the-art technological amenities and services will be available throughout the hotel's public spaces and guest rooms.
Renaissance Sanya Resort & Spa
Located at the north end of Haitang Bay on a beautiful white sand beach, the sophisticated Renaissance Sanya Resort & Spa will be about a 40-minute drive from the airport.
Eight restaurants and lounges will comprise the resort's food and beverage choices including a Chinese restaurant with 15 private dining rooms, a seafood restaurant offering indoor and outdoor seating, an inviting beach bar, an exciting lobby lounge and a vibrant sports bar.
All of its oversized guest rooms will have balconies and will feature contemporary styling, the latest technological advances and baths with separate tub and shower. Recreational amenities will revolve around a world-class Spa with six treatment rooms; a fitness center; three swimming pools including an eye-catching signature pool, a lap pool and a children's pool; a recreation pavilion; two flood-lit tennis courts; and a kid's club.
For social events and conferences, the resort will have 2,424 square meters of space, including a 1,430-square meter grand ballroom divisible into six sections; a 450-square meter junior ballroom divisible into two sections and four additional meeting rooms in varying configurations.
Renaissance Zhuhai Hotel
Strategically situated in Zhuhai's Xiangzhou district, the contemporary Renaissance Zhuhai Hotel will be located in a mixed-use complex, including offices, serviced apartments, commercial space and the Qianshan Station of the Guangzhou-Zhuhai light rail system. It is expected to be the premier hotel in the city when it opens in 2013.
Within an hour's drive are numerous tourist attractions including noteworthy golf clubs, the China International Aviation & Aerospace Exhibition Center and the Zhuhai International Circuit, host of many regional and international motor races. The Macau Special Administration Region is located 15 minutes away.
For dining and entertainment, the hotel will offer three restaurants and an engaging lobby bar. Recreational amenities will include an outdoor swimming pool and health club. For meetings and social events, the hotel will have 800 square meters of function space including a 500-square meter ballroom divisible into three sections, a 150-square meter junior ballroom divisible into two sections and three 50-square meter meeting rooms that can be divided into two sections each.
Courtyard by Marriott Fuzhou
Located on Pushang Road near the Cangshan District government offices, University Town and the Jinshan Industrial Park, the Courtyard by Marriott Fuzhou will be part of a mixed-use development consisting of a shopping mall, the hotel and apartments. Fuzhou's Changle International Airport is about an hour's drive away.
Outstanding food and beverage will be a focal point of the hotel which will have an all-day restaurant featuring a permanent grand buffet and 20 private dining rooms along with a welcoming lounge that will flow into the hotel's lobby, encouraging guests to linger with colleagues over Chinese tea or to relax at day's end.
The hotel's spacious guest rooms will have the latest technology, contemporary furnishings, in-room coffee and tea service and sumptuous bed and bath linens. Business services will include an executive lounge with a small meeting room and a business center with two small meeting rooms.
An indoor swimming pool and fitness center will comprise its recreational amenities while 870 square meters of function space will provide four individual meeting rooms in varying configurations.
Courtyard by Marriott Kunshan
The Courtyard by Marriott Kunshan will be located on the east edge of Kunshan's bustling commercial and political area, near the Kunshan Municipal Government building. It will be part of a mixed-use complex consisting of serviced apartments and retail space.
The hotel will have a casual restaurant serving three meals daily and a lobby lounge and bar for dining and entertainment. Its recreational amenities will center around a health club. Business-oriented amenities will include a spacious executive lounge with one private meeting room and a full-service business center offering two individual meeting rooms. For conferences and social events, the hotel will have 549 square meters of function space consisting of five meeting rooms in varying configurations.
Contemporary guest rooms will feature the latest technology; defined areas for rest, relaxation and work; Marriott's renowned bed and bath linens and amenities; and in-room coffee and tea service.
For social events and meetings, the hotel will have 549 square meters of function space comprised of a 342-square meter ballroom that will be divisible into two sections and four additional meeting rooms in varying configurations.
Hangzhou Marriott Hotel
The Hangzhou Marriott Hotel will be situated in the center of Qianjiang New Town—the new central business district of Hangzhou.
The hotel will be part of a mixed-use development complex that will also have a service apartment tower and two commercial buildings offering office space, 33,000 square meters of retail space and parking.
Accommodations at the Hangzhou Marriott will be spacious and will feature contemporary design elements, modern connectivity and baths with separate tub and showers.
For dining and entertainment, the hotel will offer three restaurants including a Chinese outlet with nine private dining rooms, a specialty restaurant with three private dining rooms, an all-day casual restaurant as well as a bar. Its lobby lounge will change character throughout the day.
Recreational amenities will include a swimming pool and fitness center and spa that will have a number of treatment rooms and four foot massage stations. Additional amenities will include an executive lounge with a private meeting room, a business center and gift shop.
For social events and conferences, the hotel will have 1,700 square meters of function space comprised of an 800-square meter ballroom that will be divisible into four sections and five individual meeting rooms in varying configurations.
Shanghai Marriott Minhang Hotel
The Shanghai Marriott Minhang will be situated in the Minhang district, the commercial, leisure and academic center of south suburban Shanghai.
The hotel will offer three dining outlets including a Chinese restaurant with 10 private dining rooms and a specialty restaurant with four private dining rooms and an all-day casual dining outlet as well as an inviting lobby lounge.
For conferences and social events, the hotel will have 1,500 square meters of space including an 800-square meter ballroom that will be divisible into four sections and three individual meeting rooms in varying configurations.
Guest rooms will be tastefully and stylishly furnished and will offer modern connectivity and baths with separate tub and shower.
Recreational amenities will include an indoor swimming pool and a health club. Other amenities will be comprised of an executive lounge, a business center and a gift shop.
About the Brands:
JW Marriott is part of Marriott International's luxury hotel portfolio and consists of beautiful properties in gateway cities and distinctive resort locations around the globe. Its hotels are warmly authentic, putting guess at ease in an environment of relaxed elegance and effortless luxury. These hotels focus on details ranging from minor to magnificent, resulting in a rare harmony of beautifully delivered experiences where the primary purpose is their guests' overall well-being. The hotel removes distraction, literally and figuratively, to enable its guests the time to focus on what is most important. It is here that luxury is experienced through the richness of authenticity, discovered in the beauty of craftsmanship and delivered with an intuitive response to personal expectation. There are 45 JW Marriott hotels in 19 countries; by 2014, the JW Marriott portfolio is expected to expand to more than 70 properties and almost 30,000 rooms in 27 countries.
Marriott Hotels & Resorts is Marriott International's classic flagship brand that inspires guests to relax and recharge in their own way at nearly 500 hotels in 60 countries. Marriott continues to accommodate life away from home for discerning travelers, offering warm, professional service; sophisticated yet functional guest room design; lobby spaces that facilitate dining and socializing; meeting and event spaces and services that are the gold standard; and expansive, 24-hour fitness facilities.
Renaissance Hotels is an upscale brand with more than 140 properties in 28 countries that speaks to passionate travelers in search of authentic local discoveries when traveling for business or leisure. Renaissance Hotels has recently welcomed several new "gems" to its global collection—the ultra-modern Renaissance Paris Arc de Triomphe Hotel, the chic Renaissance New York Hotel 57 in Manhattan and the beautifully restored Eden Roc Renaissance Miami Beach. These hotels join a rich portfolio defined by distinctive and well-known icons such as The Mayflower Renaissance Hotel in Washington, D.C., the Blackstone Renaissance Chicago Hotel, The Shelbourne Renaissance Dublin Hotel and the Renaissance Beijing Capital Hotel.
Courtyard by Marriott offers a refreshing environment that helps guests stay connected, productive and balanced. Intuitive services and design accommodate guests' needs for choice and control. With more than 860 locations in 30 countries, Courtyard is Marriott's largest brand.
About Marriott International:
Marriott International is a leading lodging company with more than 3,400 lodging properties in 70 countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn & Suites, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club, The Ritz-Carlton Destination Club, The Ritz-Carlton Residences and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Bethesda, Maryland USA and had approximately 137,000 employees at 2009 year-end. It is recognized by Fortune magazine as one of the best companies to work for, and by the U.S. Environmental Protection Agency (EPA) as Partner of the Year since 2004. In fiscal year 2009, Marriott International reported sales of nearly $11 billion. For more information or reservations, please visit our web site at www.marriott.com. For news about Marriott, please visit www.marriottnewscenter.com
Note: The company's expectation that it will have 60 hotels in China, including eight flying the Ritz-Carlton flag, by year-end 2010 is a "forward looking statement" within the meaning of U.S. federal securities laws, not a historical fact, and is subject to a number of risks and uncertainties, including the continuation and pace of the economic recovery; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in the company's most recent quarterly report on Form 10-Q; any of which could cause the actual number of hotels in China to be different than we expect. This statement is made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
|
|
| Daily Poll |
 |
 |
| Will the new MSME credit assessment model simplify financing? |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
