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Huatian Signs Management Agreement With Noble Hotel Changchun
December 15, 2006 |
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Hunan Huatian Hotel has signed a management agreement with Noble Hotel, the first five-star hotel in Changchun, Jilin Province.
Huatian will manage the Noble Hotel without offering any investment, but it will charge a management fee. It is estimated that this agreement will earn Huatian about RMB2.3 million in net profit each year.
Chen Jiming, president of Huatian Hotel, says that it is the first high star-grade hotel that they will manage in northeast China and it marks a breakthrough in their regional hotel management and franchise development.
Chen says that the Huatian brand has currently extended to Beijing, Wuhan and Zhengzhou, and the Noble Hotel in Changchun will be an important pivot point for their development towards northern China.
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