Hilton, Country Garden to roll out 1,000 hotels in mainland China over 10 years in largest deal for US hotel chain
- The first batch of 411 hotels with 43,000 rooms catering for long-stay guests is likely to kick off from next year
- US hotel chain is placing a big bet on China two years after its indebted Chinese investor HNA Group exited from the investment
Hilton, once part of the investment portfolio of HNA Group, is tweaking its strategy in mainland China by targeting domestic long-stay guests amid a slump in international travel brought on by the Covid-19 pandemic.
The hotel management chain will team up with China’s biggest developer Country Garden to establish 1,000 hotels over the next 10 years, marking its first extended-stay product in its second-largest market.
The first batch of the hotels, to be branded as Home2 Suites by Hilton, consists of 411 hotels with 43,000 rooms catering to long-stay guests, is likely to come on stream next year, according to Alan Watts, Hilton’s Asia-Pacific president.
“The deal is for a thousand hotels right across the mainland, which is probably the largest deal that is been done in recent memory,” he said.
Hilton currently manages 257 hotels with 65,000 rooms across mainland China. Based on current growth projection, Hilton is targeting to reach its 300th, the Waldorf Astoria in Xiamen, by the end of the year.
