Hyatt Hotels has signed a strategic cooperation agreement aimed at accelerating its portfolio growth in China, and in particular building its Independent Collection and select service brands.
Three way partnership
Hyatt will work with local partners Hangzhou Trade and Tourism Group, and Zhejiang Dragon Hotel Management Group. HTTG is a leading Chinese developer of upscale hotels in China, while Dragon is a management specialist that also operates hotels under its own brands.
Hyatt and Dragon have set a target of opening more than 60 hotels together over the next decade, and will start with a Hyatt Place hotel in Hangzhou. Hyatt will use Dragon as its preferred third-party management company for franchised hotels under its Independent Collection and select service brands across all China.
HTTG is a broad based group formed by merger in 2022, with six operating divisions of which hotel and catering is one.
Local management partner
Dragon has a broad based management business and currently manages more than 70 hotels in different market segments in China, with more than 9,000 rooms. It has nine of its own core brands: The Dragon, The Dragon Resort, Cheery Dragon, High Xuan, Cheer Lily by Dragon, Sunwood Hotels, Brook, Cheeinn, and Wuyang Service.
