Fairmont Hotels & Resorts have signed a management agreement with Chinese real-estate company Antaeus Group in Sanya for a seven-star standard hotel.
The new hotel is located on the heart area of the Haitang Bay, Sanya, which has been approved by Hainan provincial government to be built into a project called the National Coast, occupying a total area of 150 square kilometers. The hotel covers an area of 323 mu, close to a yacht club, a 27-hole golf course and a large ocean park. According to the plan, the new hotel will be part of a deluxe resort area combining about 20 five-star standard hotels around the region.
Zhang Baoquan, chairman of Antaeus Group, said that the group will invest CNY1.5 to CNY2 billion in the hotel and will start its construction within this year, scheduled to open by 2010. The hotel will be designed jointly by the same company that designed the seven-star hotel Burj Al Arab in Dubai and the other world class design companies.