Guangdong China Travel Service Group has signed with Guangdong Xinhua Real Estate Development Company, a subsidiary of the Hong Kong Lin Boxin families, on the expansion of the north wing of Hotel Landmark Canton.
According the agreement, Guangdong CTS owns the 800,000 sqm four-star Hotel Landmark Canton and Guangdong Xinhua Real Estate Development Company owns 4738 square meters land to the north of the hotel. The two sides will cooperate to develop a north wing for the hotel, and the hotel will be built as the largest five-star hotel along the Pearl River in Guangzhou.
Xu Yongsheng, president of Guangdong CTS Hotel Landmark Canton, says that the 39-story Hotel Landmark Canton originated from the well-known Huaqiao Building. Guangdong CTS Hotel Landmark Canton renovated the hotel with RMB80 million in 2003.
Some commercial properties, including shopping malls, apartments and office buildings will be added as part of the hotel's expansion.