GreenTree Inn has announced that it has opened the first outlet of its business serviced apartment chain in the Shanghai Hongqiao Airport area.
This also means that the company has formally commenced its multiple development strategy. According to its plan, GreenTree Inn will open 30 new high-quality serviced apartment buildings this year, focusing on Shanghai, Beijing, Tianjin, Guangzhou, and Shenzhen. Following the opening of the serviced apartment complex at Shanghai Hongqiao Airport, outlets on the East 2nd Ring Road of Beijing and on Hongqi Road of Tianjin will be opened soon, as will a second outlet in Shanghai.
At the beginning of this year, GreenTree Inn launched its multiple development strategy including business hotels, hostels, serviced apartments and high-end hotels. The company said that the serviced apartments targeted medium and high-end business travelers who require long-term residence. The rates for serviced apartments are between RMB3,600 and RMB7,500 per month.