Hospitality company Oakwood has opened a new office in Beijing as part of its expansion in Asia Pacific and to better serve international companies doing business in China, the world’s largest corporate travel market.
With the establishment of a Beijing office, Oakwood is able to bill in local currency and issue fapiao, a legal receipt that serves as proof of purchase for goods and services. This allows companies to be reimbursed for taxes, and provides documentation for individuals to obtain reimbursements for business expenses.
“For many of our clients, having a foothold in China, with a local office and trained staff that understands local nuances, is a key requirement for servicing multinational accounts,” explained Dean Schreiber, interim CEO, Oakwood and managing director, Oakwood Asia Pacific.
Oakwood currently has nine branded properties in China, including Beijing, Guangzhou, Hangzhou, Sanya, Shanghai, Suzhou and Yangzhou, with more in the pipeline. In total, Oakwood has a footprint of 35,000 properties in more than 95 countries.
Oakwood says its global portfolio will enable partners to better source, book, and manage housing requirements for their clients and employees.