Hyatt, HTTG, and the dragon group unite for hotel development in China

Friday, February 2, 2024

Today, Hangzhou Trade and Tourism Group (“HTTG”), Zhejiang Dragon Hotel Management Group Co., Ltd (“The Dragon Group”), and Hyatt Hotels Corporation (NYSE: H) announced the initiation of a strategic cooperation agreement among their affiliates. The primary objectives of this collaboration are to facilitate the expansion of hotels under Hyatt’s distinguished Independent Collection and select service brands in China and to support the strategic development of The Dragon Group and its associated hotel brands. Concurrently, it was revealed that Hyatt has officially recognized The Dragon Group as a third-party management company for franchised hotels under Independent Collection and select service brands within China.

This groundbreaking partnership aims to leverage the distinctive strengths of local giants alongside the diversified brand portfolio and global loyalty program of an international group. HTTG, a leading tourism group in China with a wide range of industrial and commercial ventures, and The Dragon Group, renowned for its expertise in Chinese-oriented hospitality, bring substantial local experience and market presence to this strategic cooperation.

This collaboration positions Hyatt to significantly extend its brand presence across China. Stephen Ho, President Greater China and Growth, Asia Pacific, Hyatt, expressed enthusiasm about expanding franchise growth in Asia Pacific and highlighted the importance of collaborating with partners who share their values and commitment to brand expansion in a rapidly growing market.

Chen Guohua, General Manager of Hangzhou Trade and Tourism Group, praised HTTG’s extensive experience in developing upscale hotels in China and expressed confidence in Hyatt’s industry expertise and globally recognized brand reputation for unlocking unprecedented business growth.

Charles Cheng, Chairman of The Dragon Group Hotel Management Co, LTD, emphasized The Dragon Group’s deep insights into the Chinese hotel market and their anticipation of providing diverse choices and distinguished guest experiences in the dynamic and competitive market through collaboration with Hyatt.

Under the terms of the strategic cooperation agreement, Hyatt and The Dragon Group plan to develop more than 60 hotels over the next decade, with the first expected to be a Hyatt Place hotel in Hangzhou. These hotels will become part of Hyatt’s loyalty program, World of Hyatt, allowing guests to earn and redeem points for various benefits at Hyatt locations worldwide. This reflects Hyatt’s commitment to meeting the evolving preferences of Chinese guests and consistently offering diverse and exceptional hospitality experiences.

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