GreenTree Inn plans to adjust their development strategy to enter the serviced hotel market in China.
According to local media, GreenTree Inn will initially open serviced apartments and hotels in Beijing, Shanghai and Tianjin under the company's new brand with their model of direct investment and management.
There are two serviced hotels being constructed in Shanghai, on Zaoyang Road and on Hami Road, respectively; one in Beijing, located on the East 2nd Ring Road; and one in Tianjin, located on Hongqi Road. These hotels will offer a total of about 1,000 apartments. The two hotels in Shanghai are expected to open soon – earlier than the rest. GreenTree Inn said that their serviced hotels target corporate business travelers with an average apartment price of RMB3,500 per month.
Besides exploring the new market, GreenTree Inn is also expanding in overseas hotel markets with plans in preparation for the United States, India, Indonesia, Vietnam, South Africa, Japan, and Thailand. The first overseas hotel project will be a business hotel in India, which is scheduled to open by the end of June 2008.
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