The partnership is set to significantly boost Swiss-Belhotel International’s portfolio.
CTG Hotel, with a portfolio of over 200 owned or managed properties, and parent company China Travel Group wield assets of RMB120.4 billion (US$16.9 billion) and provide services for over 60 million tourists annually. Swiss-Belhotel International believes this creates a formidable platform to amplify its presence globally.
Established in Hong Kong in 1987, Swiss-Belhotel International has already grown to manage 125 hotels and projects under 16 brands across 19 countries, with regional management hubs. Currently, it manages 15,000 rooms, with an additional 20,000 in the pipeline.
The strategic collaboration aims to foster mutual trust and benefits between the two companies, exploring dual branding business cooperation and diversified business development both in China market and international markets.
Leveraging on CTG’s established track record of successful collaborations with other leading international hotel groups such as IHG, Marriott, Hilton, and Wyndham, Swiss-Belhotel International feels this alliance represents a pivotal opportunity for it to accelerate its global expansion. The partnership is also intended to furnish Swiss-Belhotel International with insights into the burgeoning Chinese market and potential collaborative opportunities with other China Travel Group entities, including China Travel Service.
Gateway to growth
Gavin M. Faull, chairman and president of Swiss-Belhotel International, said: “The MOU with CTG Hotel will serve as a gateway for rapid growth for us in China and other international markets. The strength of the robust Swiss-Belhotel International brand, owned and nurtured by our International Group for over two decades, coupled with CTG Hotel’s vast resources and sterling reputation, will act as a catalyst for continued expansion.
“CTG, attracted by the strength and credibility of the Swiss-Belhotel International brand, has been engaged in talks with us for nearly two years. We foresee this partnership to evolve and strengthen in the coming years, propelled by the ongoing resurgence of the travel industry.”