Posted 10/19/2012 - 11:20:57 AM
ATLANTA, GA—America’s Best Franchising, based here, has opened a new hotel in Yiwu, marking its fourth hotel in China. The eight-floor, 80-room property is part of a partnership with America’s Best Hotels China Limited, which has operated franchise properties in that country since January 2010. Features of the hotel include meeting rooms, a lobby lounge, café, Western-style restaurant, swimming pool, health club and a ballroom of almost 3,500 sq. ft. Each floor features a different design theme and style.
“Despite a sluggish worldwide economy, the Chinese hospitality industry has been growing at about 6 to 7% a year for the past five years, and occupancy at luxury hotels is typically at 60% or higher—due to a healthy market of international tourists and a wealthy market of domestic travelers,” said Doug Collins, chairman and CEO of America’s Best Franchising, in a statement.
The company expects to add 5 to 10 new properties in China in the next 10 years.