Minor Hotels has signed a Memorandum of Understanding (MoU) with Funyard Hotels & Resorts which will see the expansion of its brands in China the hotel management said in a statement.
The announcement comes at the time when the growth of China’s travel sector, already one of the world’s most-watched inbound and outbound markets, is expected to accelerate following post-COVID-19 easing of movement restrictions for travellers. With demand for leisure and resort services shifting from overseas to domestic, optimism about China’s tourism and resort market is at all-time high.
Minor Hotels’ globe-spanning network of hotels and resorts with a wellness and cultural element at their core ensures that the group is well poised for development in the China market where the appetite for leisure travel has never been greater. As one of the world’s top 20 hotel groups with 530 hotels in 56 countries and regions, Minor Hotels boasts a diverse portfolio of brands. Through its partnership with Funyard Hotels & Resorts, a core alliance enterprise of Country Garden Group, the Bangkok-based hospitality group will be bringing Anantara, Avani, Oaks, Elewana, Tivoli and NH brands to mainland China, many of them for the first time.
Bringing to the table extensive market knowledge and 20 years of experience in asset and operations management in China, Funyard Hotels & Resorts shares many core competences and values with Minor Hotels. The new joint venture is poised to become one of the country’s leading hospitality players enabling travellers in mainland China to experience the award-winning services and facilities offered by Minor Hotels’ brands – each with its own unique character and identity.
At the virtual MoU signing ceremony on 20 January 2021, Dillip Rajakarier, CEO of Minor Hotels, said: “China’s hospitality market is extremely competitive, but full of opportunities. We highly value this chance to partner with Funyard Hotels & Resorts to support each other’s global branding strategies.”
Commenting on the alignment of Minor’s and FUNYARD’s interests, he expressed confidence in the ability of both sides to “fully exploit our respective advantages and jointly explore new opportunities in industry development, capitalising on Funyard’s rich experience in China and Minor’s international expertise in the global hotel and resort segment.”
Ji Hongjun, President of Funyard Hotels & Resorts, remarked: “The pandemic is further accelerating the process of the Chinese economy shifting toward the domestic market. This means new opportunities in domestic tourism and hospitality. We and Minor Hotels are both convinced that China’s resort market is full of potential. Funyard Hotels & Resorts has plenty of managerial experience and local resources in the domestic market, while Minor Hotels is an outstanding establishment in the global hotel and resort market. We look forward to working with Minor Hotels to tap into the Chinese resort market and bring new energy to Chinese and even global tourism.”