With development pipelines for China announced weekly, can you share Jin Jiang’s plans?
China is experiencing an international hotel opening every 4 days! There is tremendous competition that did not exist before. Our development portfolio alone currently has 35 projects under development and construction around China.
Our focus isn’t only on having a large presence in China’s first tier cities, but also in second and third tier cities in order to capture first-mover advantage in China’s high-end hotel market. We also continue to focus on our MICE business, which so far contributes up to over 20 percent of our total room sales.
The first of our highly anticipated‘J’brand, the J Hotel Shanghai Tower is scheduled to open in 2015, occupying the 84th-120th floors of the new Shanghai Tower in Pudong, the tallest building in China and the second tallest in the world. The lobby will be on the 101st floor. The hotel will have over 200 rooms, three restaurants and world-class spa.
Is Jin Jiang making any move to expand outside China?