Banyan Tree Holdings Ltd, an operator of premium resorts, hotels and spas, said it has signed contracts to manage three new hotels in China as part of its effort to further expand its operations in the country.
The hotels, two in Beijing and one in Hangzhou in Zhejiang Province, will start operations in 2008 and 2009, the Singapore-listed company said in its announcement.
Banyan Tree will be responsible for both design and management of the Banyan Tree Hotel Beijing, a 216 all-suite hotel and serviced-apartment complex located in the prime Wangfujing district.
The Angsana Hotel Beijing, a boutique hotel with about 80 rooms located in the new Yan Sha diplomatic zone of Beijing, and the Banyan Tree Resort Hangzhou, an all-villa resort, residences and condominium project that's about a 40-minute drive from Hangzhou Xiaoshan International Airport, will also be managed by the company.
In addition, Banyan Tree also said it has signed land acquisition agreements or memorandum of understandings to develop new resorts in Jiuzhaigou, Sichuan Province; Lhasa, Tibet; and Yangshuo and Guilin in the Guangxi Zhuang Autonomous Region.
Banyan Tree Chairman Ho Kwon Ping has said China will become the company's fastest-growing market. The company now runs three properties in Yunnan and spas in Shanghai and Guangzhou.
(Shanghai Daily February 14, 2007)