BEIJING, March 31, 2016 /PRNewswire/ -- HNA Hospitality Group, one of the largest hotel management companies in China, is announcing the launch of a joint venture with leading European hotel chain NH Hotel Group.
The move will see the creation of a joint office and Chinese brand name, "Nuo Han", which represents a promise to meet guest expectations and bring them a brilliant future.
NH Group also announced its ambitious development plans including two new NH-branded hotels that will enter the China market before the end of the year.
NH China (Beijing NH Grand China Hotel Management Co., Ltd), the joint venture between NH Hotel Group and HNA Hospitality, is located in Tower A, HNA Plaza in the central business district of Chaoyang, Beijing, China. The establishment of this company follows the strategic memorandum of understanding signed between NH and HNA as part of the bilateral trade summit between Spain and China.
The joint venture's corporate purpose is to build a portfolio of NH Hotels and NH Collection brand hotels in the midscale and upscale segments in China owned by HNA or by third parties with a target to develop 120 to 150 hotels by the year 2020. This business approach fits with NH Hotel Group's strategy of pursuing growth using capital-light formulas.
About HNA Hospitality Group
The HNA Hospitality Group was founded in 1997 as a subsidiary of HNA Group. Through the years, the hotel group has won several awards including being inducted into the Worldwide Hotel Corporation Top 300, acknowledged as the Most Competitive National Hotel Brand in China, and recognized as the Best Hotel Management Corporation in China.
About NH Hotel Group
NH Hotel Group (www.nh-hotels.com) occupies third place in the European business hotels rankings. The company operates around 400 hotels with nearly 60,000 rooms in 30 countries in Europe, America and Africa and in destinations such as Amsterdam, Barcelona, Berlin, Bogota, Brussels, Buenos Aires, Düsseldorf, Frankfurt, London, Madrid, Mexico FD, Milan, Munich, New York, Rome and Vienna.
SOURCE HNA Hospitality Group