InterContinental Hotels Group to Manage World’s Tallest Hotel in Nanjing, China

InterContinental Hotels Group has signed four new management contracts with Shanghai Greenland Group, one of the leading real estate and property management companies in China. The deals include an InterContinental hotel in Nanjing which the group claims will be the world’s tallest hotel, one Holiday Inn property in Xi’an and two Express by Holiday Inn hotels in Shanghai, representing a total of more than 1,400 rooms.

Andrew Cosslett, chief executive, InterContinental Hotels Group, said, “This latest signing with Greenland Group comes hot on the heels of our landmark six-hotel signing in Sichuan with the Chengdu International Exhibition & Convention Group. These back-to-back multiple-property deals with China’s leading property developers clearly illustrate our owners’ and partners’ trust and confidence in us”.

Added Edmond Ip, InterContinental Hotels Group’s chief operating officer for North Asia, “This is an exciting time for us. We are sustaining strong growth in China and have been given the opportunity to work with some of the largest and most respected partners in the country. Shanghai Greenland Group is among the top three real estate conglomerates in China and our partnership with them, on multiple properties and hotel brands, is a great honour that reflects their confidence in our ability to deliver exceptional business results.”

Zhang Yu Liang, president, Shanghai Greenland Group, said, “The Greenland Group is in the midst of a nation-wide expansion and we have great confidence in our cooperation with the InterContinental Hotels Group. Their understanding of the Chinese market, consistently strong growth and broad portfolio of brands catering to different market segments makes them the ideal hotel partner for our newest and most impressive developments.”

The scheduled openings will comprise the following hotels:

In Nanjing, the gateway to southeastern China and a historic city that is today one of the fastest-developing in Asia Pacific:

- InterContinental Nanjing, a 450-room luxury hotel located within the proposed Nanjing International Financial Center, will according to IHG, be the world’s tallest hotel. The hotel will offer top-notch conference and business facilities, three food and beverage outlets, spa and pool. With a building height of 431 metres, 66 floors, the hotel will occupy the upper half of the building. The lobby, ballroom, meeting rooms, spa and pool are likely to occupy floors nearer to street level. Scheduled to open in 2010.

In Xi’an, a prosperous and rapidly growing city that is home to the famous Terracotta Warriors:

- Holiday Inn Greenland Xi’an, a 380-room mid-scale hotel located in the proposed RMB 3 billion (US$ 361 million) Xi’an Hi-tech Development Zone, approximately five kilometres from the city centre. Facilities will include extensive meeting facilities, a range of food and beverage outlets, health club and pool. Scheduled to open in 2007.

In Putuo and Minghang, two of Shanghai’s newest industrial and commercial districts, which attract international companies in the high-tech, light industrial and logistics sectors:

- Express by Holiday Inn Putuo Shanghai, a 230-room convenience-sector hotel located close to the express city train station and a major shopping mall. Scheduled to open in late 2006.

- Express by Holiday Inn Minghang Shanghai, a 350-room convenience-sector hotel in the newly-developed Minghang residential district west of Shanghai. Scheduled to open in early 2007.

Since embarking on its nation-wide strategy in 2001, Shanghai Greenland Group has developed successful properties in numerous cities across China, including Nanchang, Hefei, Changchun, Nanjing, Chengdu, and Xi’an. Headquartered in Shanghai, the group has received the coveted “A” rating from the Ministry of Construction and is widely regarded as a leader in real estate market research, design and development.

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