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Luxury Hotel Group Develops New China-Based Hotel Brand in Joint Venture with Leading Real Estate Developer Jiangsu Golden Land Group
SINGAPORE, SINGAPORE--(Marketwired - Jan 21, 2016) -
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FRHI Hotels & Resorts, in a joint venture with China's Jiangsu Golden Land Group, today announced the debut of Neqta Hotels, a new brand and hotel portfolio consisting of upper mid-scale hotels located in some of the most in-demand destinations across China.* The inaugural hotel to fly the Neqta flag opened today in Shanghai's Xuhui District, close to the city's World Expo site, and a second state-of-the-art hotel is expected to debut soon in Nanjing.
"With domestic business travel on the rise and market research indicating Chinese consumer spending will more than double over the next five years, we see this as a remarkable opportunity to further grow our footprint in China," said Wayne Buckingham, FRHI's senior vice president of operations, Asia Pacific and chairman of the new joint venture. "Guided by extensive research and our own customer insights, we have designed a contemporary hotel brand that will be highly attractive to both property developers and the Chinese consumer, in particular the millennial business traveler in the 22 to 40 age demographic."
Neqta Hotels will have high appeal to tech-savvy travelers who want seamless integration of work and life while away from home. Lifestyle will also play a key role in the guest experience with hotels featuring open and stylish lobbies that will serve as social hubs. These well-appointed public spaces will be multi-functional, incorporating innovative dining concepts that will see a breakfast and coffee shop by day transform into a vibrant cocktail bar and lounge in the evening.
Modern amenities, contemporary design and warm and efficient service will be hallmarks of the Neqta brand. Notable hotel features will include ergonomically designed and uncluttered guestrooms with comfortable beds, rain-showers, large Bluetooth-enabled LED televisions and free wifi and high-speed internet. Business travelers will also enjoy a one-stop arrival service catering to their individual needs and access to a selection of smaller and smart meeting areas that will have the flexibility to be converted for different uses and occasions.
"It's the perfect time to be developing a dynamic, new hotel brand in China; the travel market in China has matured greatly over the last decade and there is now significant demand for this type of hotel product," said Joseph Soh, the recently named managing director of the new joint venture. Soh, a Singapore native who will be tasked with brand growth and development, brings extensive lodging experience in China to his new position having held several senior executive roles with major hotel groups including Starwood, Hilton, Millennium & Copthorne, IHG and Accor.
"Expanding into the right markets will be a top priority and we believe there is a natural opportunity to develop Neqta Hotels within many of Golden Land's predominantly mixed-use developments. With an average room count of about 150 and room sizes in the 28 to 32 square meter (300 to 350 square feet) range, we also see the brand being a compelling business proposition for Chinese property developers looking to invest," added Soh.
* Operated by FRHI and guided by the leading hotel management company's world-renowned approach to service and standards, Neqta will be marketed apart from FRHI's collection of Fairmont, Raffles and Swissôtel brands.
About FRHI Hotels & Resorts
FRHI Hotels & Resorts (FRHI) is a leading luxury hotel management company that operates more than 130 hotels and branded residential offerings globally under the Raffles, Fairmont and Swissôtel brands. The company's distinctive portfolio of luxury and upper upscale hotels features celebrated icons, world-class resorts and stylish city center hotels. Some notable hotels include Fairmont Dubai, Raffles Singapore, Swissôtel The Bosphorus, Fairmont San Francisco and London's The Savoy. Focused on growing its distinctive hotel brands, the company is also developing new hotels in key locations around the world including exciting projects in China, Russia, Egypt, Turkey, Saudi Arabia and the United States. The company also manages Raffles, Fairmont and Swissôtel branded luxury private residence clubs, whole-ownership residences and serviced residences properties. For more information visit frhi.com.
About Jiangsu Golden Land
Established in 1994 with headquarters in Nanjing, Jiangsu Golden Land is a prominent real estate developer in Nanjing, Shanghai and Suzhou. The company's landmark commercial complexes of office buildings, five-star hotels, serviced apartments and shopping malls include the KIC International Center in Nanjing and the super high-rise KIC International Suzhou currently under construction. The group also owns Fairmont Nanjing, one of FRHI's four Fairmont hotels in a China portfolio that also includes Fairmont Beijing, the iconic Fairmont Peace Hotel in Shanghai and Fairmont Yangcheng Lake in Kunshan. For more information visit jddjt.com.
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