Shanghai Shimao International Square
Shimao Property Holdings has entered into an agreement with InterContinental for cooperation in the hotels business. (Note that Shimao constructus a far wider range of buildings than just hotels.
Shimao said it plans to open 6 hotels in four Chinese cities by 2013 and that Intercontinental will manage the properties under the partnership deal.
The hotels, in Beijing, Shanghai, Fuzhou and Shaoxing, will provide a total of 2,100 guest rooms.
This partnership sees the world’s largest hotel group by number of rooms and one of China’s leading real estate developers add a total of 2,100 guest rooms to the IHG list. (Note that Shimao already has other hotel deals operating.)
The hotels will carry the InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn Hotels & Resorts brands.
Source: Trading Markets and Focus on Travel News Gazette