Hotel Management Network

Daily Newsletter

11 August 2023

Daily Newsletter

Hyatt Hotels affiliate has signed a management agreement with Hongkong Land for a new Hyatt Centric hotel, called Hyatt Centric East CBD Chengdu in Chengdu, Sichuan province of China.

Expected to open in 2025, the hotel will mark the foray of the Hyatt Centric lifestyle brand into China’s southwest region.

The foray of Hyatt Centric brand in Chengdu bolsters Hyatt’s commitment to boost its lifestyle portfolio in more leisure destinations that are sought after.

Hyatt Centric East CBD Chengdu is in the city’s bustling downtown area and will be part of commercial complex, The Ring, which is developed by Hongkong Land.

This mixed-use project will be located at a prime spot near Southeast Second Ring Road on Dong Da Road.

Hyatt Asia Pacific president of growth and operations Stephen Ho said: “We are honoured to be embarking on this milestone collaboration with Hongkong Land, as their immense experience in developing best-in-class properties across Asia makes them an ideal collaborator to expand the Hyatt Centric brand to Chengdu and southwest China.

“Hyatt is committed to growing its lifestyle portfolio in destinations that matter most to guests and World of Hyatt members, including key destinations across Greater China. Chengdu draws tourists from all over the world who are keen to explore its rich culture and renowned gastronomy. With its focus on authentic local experiences, we believe Hyatt Centric East CBD Chengdu will be the perfect location for savvy travellers seeking to be immersed and inspired in the destination.”

Hongkong Land spokesperson said: “Hyatt Centric East CBD Chengdu will represent Hongkong Land’s first collaboration with a third-party hotel management company, and looks forward to working alongside Hyatt to realise its vision for The Ring as a landmark business, shopping and leisure destination and a vibrant hub of the surrounding community.

“Hongkong Land is well known for its prime office and luxury retail properties in key Asian cities, developed with a mindfulness of the ever-evolving needs of those who inhabit and interact with its buildings. With Hyatt’s expertise and innovative approach to hospitality, Hongkong Land is confident that Hyatt Centric East CBD Chengdu will become a sought-after choice for business and leisure travellers alike.”

As of 31 March 2023, Hyatt’s portfolio includes over 1,250 hotels and all-inclusive properties in 75 countries across six continents.

A property investment, management and development group, Hongkong Land owns and manages over 9,000,000ft2 of office and luxury retail assets in important Asian cities, such as Hong Kong, Singapore, Beijing and Jakarta.

Demand for upscale and luxurious products has been rising steadily in the travel and tourism sector

The theme of premiumization, and the upscale and luxury markets, now have the opportunity to thrive in an industry that has had to rapidly change to meet new changes in traveler demands. The increased need for privacy, a greater focus on health and wellbeing, a desire to tick off ‘bucket list’ experiences, unintentional saving of money, the tendency to take longer trips, the focus on eco-tourism, and an increase in millionaires means the theme of premiumization will continue to grow in importance. The travel industry will experience a surge in demand for higher-end and customized offerings as experiential consumption keeps growing. For many, ‘premium’ means a variety of things. However, it refers to first-rate service, extreme comfort, and one-of-a-kind experiences in travel and tourism. Premiumization is closely linked to luxury travel. While premiumization attracts only a small number of global travelers, it is important for companies as it is a valuable revenue stream that is unlikely to be impacted by external factors like economic downturns. Personalization is key in premium offerings, the shift from focusing solely on premium products to an emphasis on delivering exclusive and personalized offerings is apparent. Therefore, smart destinations can help to create hyper-personalized services and products. Leveraging the Internet of Things, destinations can curate offerings based on gathering real-time data on guest preferences and behaviors. This enables the industry to transcend typical offerings and remain competitive.