Homeinns Hotel Group is set to launch its homestay business, which will be operating under its sub-brand ‘Fairyland Homestay’ (or Yun Shang Si Ji Homestay), through partnerships with qualified house-owners. After having conducted a research in the second half of 2015, the company has now sealed agreements with 33 B&B owners across eight cities in China, in order to run pilot tests on the operations and management system. The homestay business and operator recruitment will be officially launched in March, with the Yunnan province, the Jiangsu Zhejiang Shanghai region, Hainan, Fujian, and Guangxi provinces being the initial targets. The Fairyland Homestay brand was spun off from the Fairland Hotel brand, which was fully acquired by Homeinns at a cost of RMB230 million in 2014. Unlike the standardized franchise model of Homeinns hotels, its homestay business will not charge a franchise fee or other fees, except the cost on brand services, resulting in 50% lowers costs as compared to its regular hotel franchise fee.
Marriott International and Japan’s leading lodging company Mori Trust Group announced the signing of five hotels in Japan, under the ‘Marriott Hotels’ brand. The agreements will see Marriott International double the footprint of its flagship ‘Marriott Hotels’ brand in Japan and increase its Japanese presence to 20 properties. Mori Trust Group is expected to renovate five existing Laforet properties and rebrand them as Marriott Hotels, over the next two years. Offering approximately 840 rooms, these five properties are part of the large-scale hotel renovation plan announced by Mori Trust Group in October last year, with an estimated investment of 16 billion yen. The agreements between the two companies will further strenghten their existing relationship that had earlier led to the successful opening of three other properties in Japan, under the ‘Marriott’ and ‘Courtyard by Marriott’ brands. This collaboration is in line with Marriott International’s strategic expansion plans across Asia, and aims to meet the needs of the rapidly growing number of inbound travelers into Japan.
InterContinental Hotel Group (IHG) signed a management agreement with Thai-based developer, Amburaya Hotels & Resorts, to rebrand the Sheraton Pattaya Resort to InterContinental Pattaya Resort. The resort will begin operation under the ‘InterContinental’ brand from 1st April, 2016. The refurbishment program will be conducted in phases, throughout the first two years of operations, and is scheduled to complete in 2018. Located on Phra Tamnak Hill in Pattaya, the 156-room resort is a five-minute walk from the Pattaya Exhibition and Convention Centre. Currently, IHG operates three InterContinental hotels and resorts in Thailand, including the InterContinental Hotel Bangkok, InterContinental Hua Hin Resort and InterContinental Samui Baan Taling Ngam Resort.
Marriott International opened the Courtyard by Marriott Raipur − its 14th Courtyard in the country and second in the state (Chhattisgarh). The hotel features 96 rooms and 12 suites, an all day dining restaurant, a coffee bar and a bar, approximately 13,832 ft2 of meetings and events space, a spa (yet to commence operations), a fitness centre, and a swimming pool. Raipur, the capital of Chhattisgarh, is regarded as an important industrial hub for coal, power, steel, and aluminium based industries.
Closing Share Price as at
25 Feb 2016
18 Feb 2016
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