Bangkok-based hotel owner, operator and investor Minor Hotels has signed a memorandum of understanding with Funyard Hotels and Resorts to its expand its portfolio of hotels in mainland China.
Minor said that the partnership would bring its Anantara, Avani, Oaks, Elewana, Tivoli and NH brands to the country, “many of them for the first time”.
“With demand for leisure and resort services shifting from overseas to domestic, optimism about China’s tourism and resort market is at all-time high,” said the group.
Minor currently operates just a handful of properties in mainland China, including Anantara Guiyang Resort, Anantara Xishuangbanna Resort, and the forthcoming Tivoli Chengdu at Cultural Heritage Park.
The group purchased the Europe-focused NH Hotels in 2018, adding over 350 properties across brands including NH Collection, Nhow and Hesperia to its portfolio.
Referring to the China’s hospitality market as “extremely competitive, but full of opportunities”, Dillip Rajakarier, CEO of Minor Hotels said that the partnership would “fully exploit our respective advantages and jointly explore new opportunities in industry development, capitalising on Funyard’s rich experience in China and Minor’s international expertise in the global hotel and resort segment”.
Meanwhile Ji Hongjun, President of Funyard Hotels and Resorts, commented:
“The pandemic is further accelerating the process of the Chinese economy shifting toward the domestic market. This means new opportunities in domestic tourism and hospitality. We and Minor Hotels are both convinced that China’s resort market is full of potential.
“Funyard Hotels and Resorts has plenty of managerial experience and local resources in the domestic market, while Minor Hotels is an outstanding establishment in the global hotel and resort market. We look forward to working with Minor Hotels to tap into the Chinese resort market and bring new energy to Chinese and even global tourism.”