Hyatt Hotels Corporation has signed a joint venture in China that aims to catapult forward its presence in the country.
The agreement with local partner China Resources Land will see the pair collaborate on rebranding and new developments across the country. The partners have set up a new joint venture company, Yuen Kai Holdings, to grasp the opportunities in front of them.
Hotel rebranding
A first step will be to take over and rebrand six existing hotels in Beijing, Shenzhen, Chengdu, Hangzhou and Rizhao which currently trade under the Mumian brand. These will be rebranded either as part of Hyatt’s Unbound Collection, or under its JdV by Hyatt flag.
Two further hotels, which were to have launched in 2025 as Mumian properties will also follow a similar path. These hotels are in Shaoxing and Shanghai.
Further joint venture projects are new developments, to deliver Hyatt branded hotels in key Chinese destinations. Already, the partners have signed agreements to take forward hotels including Park Hyatt Xi’an and Andaz Dongguan.
The additions will further build Hyatt’s China portfolio. Over the last 50 years, it has built slowly to the point where today Hyatt has more than 165 hotels open across the country, with a presence in 60 city markets.
“We are excited about the collaboration between Hyatt and CR Land, as it represents a significant advancement in our dedication to the Chinese market,” said Hyatt’s David Udell, group president for Asia Pacific. “Our growth is built on strong alliances with like-minded businesses, and CR Land’s local expertise perfectly aligns with our vision.”
For its part, CR Land has expanded over the last three decades to a built presence in 85 cities, including Hong Kong and London. It is part of the much larger China Resources Group.
The pair announced their collaboration on the Park Hyatt Xi’an in July 2024. The 192 room hotel will operate under a management agreement and is being developed in the city’s CCBD, a key mix-use commercial complex developed along Xi’an’s central axis. Devised by British designer Thomas Heatherwick, CCBD has been planned to support development of the technology and cultural sectors in the region. The hotel is expected to open in 2026.
Building partnerships
The agreement with CR Land is in addition to a collaboration previously signed by Hyatt with Hangzhou Trade and Tourism Group and Zhejiang Dragon Hotel Management Group. An agreement signed in early 2024 sees the trio focused on developing Hyatt’s select service brands, and adding hotels for its Independent Collection.
Dragon will act as a third party hotel manager for Hyatt, as it signs hotel franchise agreements in China. The group aim to develop more than 60 hotels over the next decade, and will start with a Hyatt Place hotel to be built in Hangzhou.
