Hyatt is poised for a major expansion in China after signing a “strategic co-operation” agreement that will lead to the opening of more than 60 hotels in the country in the next 10 years.
The US-based hotel company has agreed the deal to develop properties in China with the Dragon Hotel Management Group and Hangzhou Trade and Tourism Group. The hotels will operate under Hyatt’s Independent Collection and select service brands.
The first hotel to open through this agreement is expected to be a Hyatt Place property in Hangzhou.
Stephen Ho, Hyatt’s president of Greater China, said: “We are pleased to join hands with HTTG and The Dragon Group and expand our franchise growth in Asia Pacific.
“Hyatt continues to seek innovative ways to develop our hotel portfolio by collaborating with owners and developers who share our values and commitment to expanding our brands in a country with such significant growth potential.”
Charles Cheng, chairman, of the Dragon Group, added: “With our deep roots in the local market and Hyatt’s global resources in hospitality, we look forward to offering a diverse range of choices for guests and creating distinguished guest experiences that exceed expectations in the dynamic and highly competitive market.”
This deal in China comes as Hyatt seeks further expansion around the globe, including plans to increase its presence in Europe in the coming years.