Guangdong CTS has cooperated with Guangdong Xinhua Real Estate Company to commence a new construction project as a part of Hotel Landmark Canton's upgrade and renovation.
Xu Yongsheng, deputy managing director of Guangdong CTS and chairman of Guangdong CTS Landmark Hotel Holding Ltd., said that this project aims to build Hotel Landmark Canton into a five-star hotel with more features, more completed functions and on a larger scale. Since 2003, the group has twice carried out re-decoration and renovation for Hotel Landmark Canton with a total investment of about RMB80 million. In recent years, the hotel has been wholly owned by Guangdong CTS.
At present, Guangdong CTS Landmark Hotel Holding Ltd. plans to initiate a brand segment and differentiated operating strategy by launching a series of brands including business hotels, resort hotels, budget hotel and flagship hotels above four-star level. The company will firstly focus on business hotels and flagship hotels above four-star level.
Starting from this March, Guangdong CTS formally initiated the first phase of a financing program of US$50 million for investment in the hotel development plans of Guangdong CTS Landmark Hotel Holding Ltd.
Two business hotels that Guangdong CTS will participate in and fully manage are scheduled to open this summer. They are located in Guangzhou Scientific City and Guangzhou University City. Another four hotels under the brand of Landmark will be opened this year.