Zhengzhou China Accor Hotel
Radisson Hotel Group (tm), the fastest growing hotel group in the world, today announced that it has entered into a transaction and strategic alliance with AccorHotels. Huazhu Hotels Group, also known as China Lodging Group, has signed a comprehensive, long-term alliance to create one of the largest hotel chains in the United States with a portfolio of more than 1,000 hotels in China, Europe and the Middle East. The Radissons, and accelerates the growth of its business in Asia and Europe as well as in Europe.
Under the agreement, Huazhu Accor will be the exclusive master franchisee for hotels in mainland China, Mongolia and Taiwan, as well as Europe and the Middle East. Under this agreement, pursuant to an agreement between Radisson Hotel Group and China Lodging Group, with the approval of the U.S. Securities and Exchange Commission (USSE), ArrangementHuazu Accor will become the exclusive master franchise developer of hotels, hotels and hotels - in the service and hotel sectors - in mainland China and Mongolia, Taiwan and Asia.
Deutsche Hospitality will sign three luxury and upscale brands as well as three premium brands from the Radisson Hotel Group and China Lodging Group to Huazhu Accor.
AccorHotels, the Grand Mercure and Novotel brands are jointly developed and operated by Accor Hotels and China Lodging Group under a development agreement. To implement this strategy, Radisson Hotel Group has announced the creation of a new brand development strategy for its hotels in China. He will work with Chloe Fei, Development Director for China, to drive the development of new hotel brands in the Zhejiang region and beyond.
Kevin Cai, Director of Development for China, joins Radisson Hotel Group from Centara Hotels & Resorts, where he was previously Director of Economic Development for Greater China. He recently joined the company from the UAE's Emaar Hospitality Group and is based in the regional office in Shanghai, where she holds the position of Head of Business Development in China and has been appointed to the Board of AccorHotels China, where she was until recently Senior Director of Development in GreaterChina. Founder Ji Qi is considered one of the most successful entrepreneurs in the world, having founded three Nasdaq-listed companies in six years, including China Lodging Group, the world's largest hotel operator, and the first hotel chain in Hong Kong.
Accor has a portfolio of eight brands including Accor Hotels & Resorts, Radisson Hotel Group, Centara and Radiotechnologies, as well as a number of other brands. HUAZHU offers its customers in China hotel products in convenient locations, from upscale hotels to low-cost hotels, with an emphasis on quality, affordable and convenient service and amenities. Accors is represented in hotels and resorts in the United States, Europe, Asia, the Middle East and Africa under eight brands, including Accor Hotel Group and Centaras, the world's largest hotel chain in Hong Kong.
Over the next year, the group will open 15 hotels in Greater China, including the first hotel in Guangzhou, China's second largest city, and two in Shenzhen. The company is also preparing to open the second hotel of its Radisson Hotel Group in Shanghai, which is scheduled to open in the fourth quarter of 2018.
AccorHotels will also expand its portfolio to include 300 hotels in the Asia-Pacific region, bringing its total network to 1,050 hotels across the region. Ji aims to have more than 10,000 hotels by the end of 2018, with 1.5 million in 2020 and 2500 in 2030.
In 2017, domestic tourism to China totaled 5.1 billion trips and generated 5.3 trillion CNY5.3 trillion (approx. The International Air Transport Association (IATA) also predicted that by 2020 China would overtake the US as the world's second-largest economy after the US. We also see an additional 250 hotels opening in the next three years, with a total of 1,000 hotels in China by 2030.
We look forward to working with our local partners to provide world-class accommodation to China's emerging business and leisure destinations, "said Dr. John D. Hickey, President and CEO of Radisson Hotel Group. The strategic alliance aims to accelerate our expansion by leveraging our extensive hotel network in and around China. This year we have signed a number of milestones, including a partnership agreement with China's largest hotel operator, the China National Hotel Association (CNHAA), as well as a number of other strategic partnerships across China and beyond, in addition to our ongoing partnership with the Chinese Ministry of Tourism and Tourism (MCTA). The Strategic Alliance - a strategic alliance designed to accelerate our expansion - leverages our large hotel portfolio and extensive hotel business in the United States, as well as a sizable hotel network operating in or near China, as part of our strategy.
We are committed to significantly expanding our portfolio, introducing new brands and segments and dramatically increasing the awareness of our brands in China.