Furama Hotels International Management, an affiliate of Hong Kong Lai Sun Group, has signed a hotel management cooperation agreement with Kunshan Zhongyuan Properties.

This symbolizes Lai Sun Furama's formal launch in the mainland's hotel market.

Zhang Yongsen, executive director of Lai Sun Group, says that they will also develop the Furama high-end hotel brand in China. Zhang says that they plan to launch at least five deluxe hotels in the next five years. So far, one of the five, which involves an investment of HK$16 billion, has been initiated in Macao.

Lai Sun Group is a Hong Kong listed company that specializes in property, clothing, media and hotels. Its businesses cover Hong Kong, Guangzhou, Beijing, Shanghai, as well as Vietnam and Britain.