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Hyatt eye mid-range hotels as new growth driver
Last Updated: 2013-11-12 16:22 | chinadaily.com.cn
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Hyatt Hotels will strengthen its presence in China's mid-range hotel market, according to the company's management.

Xia Nong, senior vice-president of Real Estate & Development of Hyatt International Hotel Management (Beijing ) Co Ltd said the company will open 15 or 16 hotels in China under that brand Hyatt Place and Hyatt House.

"This segment is not so well-served in China, and we will take it as a new growth driver in the country," said Xia, referring to hotel rooms with a price per night ranging from 500 yuan ($79) to 800 yuan.

But that does not mean the company will slow down its expansion into the high-end sector, Xia added.

Hyatt Regency, the high-end brand under the Hyatt Hotels Corp, just signed a deal with Lei Shing Hong Property Group to open its first hotel in Beijing in the Lei Shing Hong Center in the capital's Wangjing district - a major business hub in Beijing. The hotel is expected to open to business in 2017.

Microsoft , Daimler and Nestle all have their China headquarters in Lei Shing Hong Center, a commercial complex covering an area of 44,174 square meters.

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