Jin Jiang plans expansion
05 April 2011
Shanghai Jin Jiang International Hotel Group is looking to significantly expand its hotel portfolio in China over the next four years, its CEO has said.
The hotel giant, which last year acquired US hotel management company Interstate Hotels & Resorts, plans to take its current number of hotels in China from around 600 at present to 1,000 within the next four years, CEO Yang Weimin said at a recent conference, according to a report by Business China.
As of the end of 2010, Jin Jiang had 596 budget hotels with 73,350 rooms plus 111 star-rated hotels with 34,000 rooms.
Jin Jiang announced in February a collaboration agreement with Sol Melia to facilitate mutual expansion.
In December, it announced plans to launch a new luxury brand called J-Hotel. A first hotel under the brand is to be located in the Shanghai Tower in Pudong, it said.
Jin Jiang last year took a majority stake in budget hotel chain Shanxi Goldmet Inn.
