Steigenberger Hotel Group Plans China Growth With Joint Venture
The Steigenberger Hotel Group has announced the establishment of a joint venture based in Beijing, China. The group's partner in the joint venture is the Chinese company Beijing Yun Bang Investment Trade Co. Ltd. This entry into the Chinese market represents a continuation of the strategy of international expansion pursued by the Steigenberger Hotel Group. The aim of the joint venture is to establish the Steigenberger Hotels and Resorts and InterCityHotel brands on the Chinese hotel market. READER COMMENTS
The first establishment in Beijing will be the five-star Hotel Maximilian managed by Steigenberger that is set to open as early as the summer of 2013. The hotel is to be located on the AUDI World site in the North of the city and will offer 300 rooms, a Chinese restaurant, a "Berlin Café," and a German-style pub. Event facilities will be provided by a 1,300 square-meter conference area featuring twelve separate meeting rooms. Other amenities include a health and beauty spa area and a gym.
The group's second establishment will be the Steigenberger Hotel Shaohai in Qingdao on the Chinese coast, which is set to open in the winter of 2015. Ten further hotel projects are already in the planning phase.
"We are convinced that the Steigenberger ‘quality made in Germany' model will bring success on the Chinese market", says Puneet Chhatwal, CEO of Steigenberger Hotels AG. "China is an important focus within our strategy of expansion, and we are delighted to be able to build on our presence in this key global market."