Partnership brings Home2 Suites by Hilton to China
Global hospitality giant Hilton plans to introduce its upper-mid-scale Home2 Suites by Hilton brand to China through a strategic alliance with China's leading real estate developer Country Garden.
Under an exclusive management licence agreement signed on Tuesday between Hilton and Funyard Hotel Investment (Asia) Limited, a subsidiary of Country Garden, at least 1,000 Home2 Suites by Hilton hotels will be developed across the country over the next 30 years.
"As our second-largest market globally, China has consistently seen rapid growth and is forecast to become the world’s largest lodging market," said Alan Watts, president, Asia Pacific, Hilton. "Country Garden is one of the strongest players in the Chinese property market and we are thrilled to continue working with them to introduce a new Hilton brand to the Chinese market.”
Room supply in China's upper-mid-tier hotel segment has witnessed annual growth of more than 10 percent over the last five years amid rapidly rising demand for quality travel and hospitality, particularly among middle-class consumers in smaller Chinese cities.
"By 2025, Hilton aims to manage 1,000 hotels in China and serve more than 50 million Hilton Honors members in the country," said Qian Jin, area president, China and Mongolia, Hilton. "In light of the current climate, domestic tourism is expected to be a key pillar of China's hospitality industry and Home2 Suites by Hilton is positioned to provide consumers with a well-trusted, market-relevant product at a great value."
Launched in 2009, Home2 Suites by Hilton is one of the US hospitality giant's fast-growing mid-scale offerings with a current portfolio of about 400 operating hotels and more than 450 hotels in the development pipeline across the US and Canada.