Twelve hotels in Wenzhou area have opened under the new Yaxi brand.
This new brand was jointly invested in and formed by several investors from different hotels. They have integrated ten hotels in Wenzhou and one in Taizhou to be the members of this brand.
Wang Jianmin, chairman of Yaxi Chain Hotel, said that besides Wenzhou, the new brand, which is positioned as a business hotel chain, also plans to build its own direct-run outlets in Beijing and Shanghai. Of these the Jingzhou Hotel, which is located in the Chaoyang District, Beijing and obtained an investment of RMB15 million from the brand owners for renovation, has reopened as the brand's first sample hotel at the beginning of this May; there is also a new outlet in Shanghai in the pipeline. Wang said that the number of outlets with this brand is expected to reach a total of approximately 30 by the end of this year.
Published data indicates that there are currently about 30 three-star hotels and more than 50 budget hotels in Wenzhou.