The Chengdu Xinda Real Estate Company has formally signed a cooperation agreement with UOL Group Limited to cooperate with Parkroyal Hotels & Resorts Pte. Ltd. to build a five-star hotel in Chengdu.
Parkroyal Hotels & Resorts Pte. Ltd. is a wholly owned subsidiary and hotel management arm of Hotel Plaza Limited (HPL), which is the Singapore main board-listed subsidiary of UOL Group Limited. The Parkroyal brand has six hotels in Singapore, Malaysia, Myanmar, and Vietnam and HPL has a portfolio of 12 hotels in the Asia-Pacific region, with operations extending from Singapore to Malaysia, Australia, China, Myanmar and Vietnam.
Xiang Zhixin, board chairman of Chengdu Xinda Real Estate Company said that the company chose Parkroyal mainly because of its advanced hotel management concepts especially targeting Chengdu market and its experience of running a Chinese top property.
The hotel is located at the Renmin South Road, Chengdu and is scheduled to be opened by next year. According to local media, it obtained a planned investment of RMB800 million from Chengdu Xinda Real Estate Company.
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