Hyatt Hotels plan to expand in China

Hyatt Hotels and Tianfu Minyoun Hospitality have agreed to expand the Hyatt Place, Hyatt House, Unbound Collection by Hyatt and Hyatt Centric hotel brands in China. Hyatt and Tianfu Minyoun, the first authorized third-party management company for Hyatt hotels in China, also signed the first three Hyatt-branded hotels of the agreement.

Tianfu Minyoun is expected to develop 50 Hyatt Place and Hyatt House hotels with Chinese investors within the next five years. The first three properties will be the Hyatt Place Nanchong Gaoping in Sichuan, Hyatt Place Changchun Jingyue and Hyatt House Changchun Jingyue in the Changchun Jingyue development. Tianfu Minyoun will also manage and operate the upcoming hotels.

Tianfu Minyoun has already set up funding for the hotel development project. Sichuan Tianfu Bank has granted the hotel group a credit line of RMB30 billion to fund the construction and renovation loans for hotel owners of the projects. Tianfu Minyoun also partnered with Road King Investment Group to develop a RMB10-billion industrial fund to support the deal with Hyatt.