Wanda Hotels and Resorts and Baicheng Real Estate Group signed a formal agreement on the entrusted management project of Wanda Realm Wuzhishan, which marks the first step for Wanda Hotels and Resorts in its 'asset-light' strategic transformation.
For this first self-managed brand output project of Wanda Hotels and Resorts, the Company will provide professional one-stop management services including market research, product planning, brand standards and operation management. Wanda Realm Wuzhishan is expected to open at the end of 2018.
Wanda Realm Wuzhishan is located in Wuzhishan City, Hainan Province, boasting unique tropical natural landscapes, an ideal climate and minority (Li people) folk customs. Wuzhi Mountain is the highest mountain inHainan, standing as the symbol of Hainan Island. Known historically as "Emerald Mountain City," it was named for its hackly ridges and peaks that resemble the five fingers of the hand. As a city with tropical mountainous scenery in Hainan, Wuzhishan enjoys high tourism development value.
The Hotel has a planned overall floor space of more than 20,000 sqm, with 250 guest rooms and suites, also including conference facilities, restaurants and bars. The completion of Wanda Realm Wuzhishan will perfect the layout of Wanda Hotels and Resorts in South China. Working toward a positive coordinated market impact with Conrad Sanya Haitang Bay and Doubletree by Hilton Sanya Haitang Bay, the Hotel will bring more diversified experiences for visitors to Hainan Island.
"As the first brand output project of Wanda Hotels and Resorts, Wanda Realm Wuzhishan serves as a significant milestone in our development history. It indicates the Company's first step toward an 'asset-light' strategic transformation," said Mr. Qian Jin, Senior Vice President of Wanda Commercial Properties and President of Wanda Hotels and Resorts.
"Wanda Hotels and Resorts is a homegrown luxury hotel management company in China. Since its establishment in 2012, its professional and innovative hotel management team has created the brands of 'Wanda Realm', 'Wanda Vista' and 'Wanda Reign,' which have won recognition and trust in the market in less than four years. We are greatly honored by this. I believe Wanda Hotels and Resorts will remain committed to its pursuit of service quality, operation innovation, and guest satisfaction, as well as in maintaining its excellent management team performance, so as to create unique and oriental brand experiences for guests at home and abroad, and greater market value for the hotel owner."
Mr. Zhang Lanshi, President of Baicheng Real Estate Group, said, "As the benchmark of Chinese luxury hotel management companies, Wanda Hotels and Resorts has distinctive and characteristic brands with remarkable market performance. As for our cooperation this time, we firmly believe that in the near future, Wanda Realm Wuzhishan -- with its completion, excellent management and outstanding brand performance -- will further promote the software and hardware capacity of the tourism industry in the central region of Hainan and provide consistent and attentive service for guests at home and abroad."