Hyatt Hotels Corp has entered into a strategic joint venture with BTG Homeinns Hotels Group to create a new China based hospitality brand.
The unnamed brand will enter the upper-midscale segment, which the companies say is underserved in China and will be created specifically for Chinese travelers’ preferences.
"Hyatt is committed to a long-term strategy of purposeful growth in the region. This collaboration is expected to provide Hyatt with deep China insights, build brand awareness and grow loyalty with a new set of travelers," said Stephen Ho, Hyatt’s president of Greater China.
Hyatt currently operates 70 hotels and has a pipeline of more than 100 properties in Greater China.
BTG Homeinns Hotels Group is little known outside China but is a big player in the domestic market.
It has about 3,900 hotels in more than 400 cities.
This includes about 600 midscale hotels and operates the Yitel Premium, Homeinnplus and Homeinn Selected brands.
"Our goal is to pioneer a unique home-grown local brand with international backing that will serve as an important competitive advantage for both parties," said David Sun, general manager of BTG Homeinns Hotels Group.
