Shanghai Shi Mao International Plaza Co., Ltd and luxury hotel group Le Méridien Hotels & Resorts have today announced an agreement to manage Le Royal Meridien Shanghai, a 722-room, deluxe five star property currently under construction and due to open in the second quarter of 2005.

The Hotel will be situated on Shanghai´s famous Nanjing Road in very the heart of the city´s shopping, leisure and commercial precinct.

Michael Sagild, Le Meridien Hotels and Resorts Asia Pacific Regional Managing Director, said Le Royal Meridien Shanghai will set the new benchmark for five star hotels in China. We are striving for the #1 position in the Shanghai market and aim to be the first hotel to qualify for the prestigious Platinum Five Star rating under the new hotel grading guidelines soon to be released by the China National Tourism Administration Department.

Incorporating the finest appointments in luxury accommodation and the very latest in-room technology, Le Royal Meridien Shanghai will boast an impressive range of facilities that will embrace the best of all that is Shanghai today. Under Le Meridien´s management, this property will stand alone in the marketplace for its elegant European style and personalised service that is customary in all Royal Meridien hotels worldwide.

It was critical to our Asia Pacific development strategy that our first hotel in the Peoples Republic of China was a truly brand-defining product, Sagild said. The Hotel´s prime location, upper  upscale market positioning and superior size combine to make this project the perfect entry point for Le Meridien into the mainland China market. We are especially proud to be partnering with Shi Mao on this project given their unparalleled reputation for producing high quality real estate developments in China.

The hotel owner, Shanghai Shi Mao International Plaza Co., Ltd is one of Asia Pacific´s leading real estate developers. Shi Mao currently has five main projects under development in China and is primarily focused on the high-end residential and retail market sectors. This is Shi Mao´s first major hotel project.