Markets & Performance

HVS ANAROCK MONITOR, October 2024

Read the latest edition of the HVS ANAROCK monthly industry update, MONITOR (Monthly Overview of National Industry Trends and Hospitality Report), for the key trends in the Indian hospitality industry.

Hyatt Enters Joint Venture with China Resources Land to Expand Portfolio Across China

Hyatt Hotels Corporation (NYSE: H) announced today that affiliates of Hyatt and China Resources Land (CR Land, stock code: 01109.HK) have entered a joint venture and signed a strategic collaboration agreement to expand Hyatt’s brand presence across China. This is part of Hyatt’s asset-light expansion of its brands in Hyatt’s second largest market. Under the initial plans, the joint venture, Yuen Kai Holdings Limited, will develop and manage hotels including six existing Mumian hotels in Beijing, Shenzhen, Chengdu, Hangzhou, and Rizhao as well as two new Mumian hotels in Shaoxing and Shanghai that are set to open in the first quarter of 2025. These properties are expected to become part of The Unbound Collection by Hyatt and JdV by Hyatt brands. Additionally, Hyatt and CR Land announced a strategic agreement for the development of more Hyatt-branded hotels and have signed agreements for key projects such as Park Hyatt Xi’an and Andaz Dongguan.

TFE-Heritage Hotels Strategic Partnership Shows Confidence In New Zealand Accommodation Sector

In breaking news, TFE Hotels has partnered with New Zealand’s leading accommodation provider, Heritage Hotels, in a multi-property management agreement that will see five hotels refurbished in the next few years and send a positive signal to the local accommodation sector amid a resurgent international tourism market.