China’s leading electrical appliance retail giant, GOME, has ventured into the hotel business and appointed InterContinental Hotels Group to manage its first hotel in China.
Scheduled to open in 2020 along a southeast bay on Hainan island, construction on the RMB$2 billion (US$300 million), 13.6ha Kimpton Resort Sanya Haitang Bay kicked off last year.
When completed, the project is expected to offer 251 guestrooms, an outdoor swimming pool, restaurants and bars, and private beach access.
GOME Real Estate Group president, Long Xing told TTG Asia that a “huge space” will be set aside for F&B due to the destination being hot for weddings and MICE activities.
As the group makes its foray into hotel investments, Long disclosed: “We plan to open three to six hotels in China within the next five years. Most of them will be upscale properties located in first-tier cities. Negotiations are still on so we can’t disclose any locations at the moment. For sure, we opt for international management with InterContinental Hotels Group as priority.”
On the choice of the Kimpton brand for its first hotel venture, Long said: “The creative hotel and restaurant concept has been so successful in the US and Europe so its unprecedented entry to Asia (signals) a new level of standard.”