Wanda And Hilton Ink New Management Agreement In China

Dalian Wanda Group, a major real estate developer in China, has signed a hotel management agreement with the U.S. based Hilton Group and appointed the latter to manage five of its hotel projects in China.

The five hotels covered by the agreement are understood to be Conrad Dalian, Hilton Dalian, Conrad Sanya Haitang Bay, Doubletree by Hilton Sanya Haitang Bay, and Hilton Nanjing.

As a leading real estate developer in China, Dalian Wanda has made development and investment in five-star hotels one of its backbone businesses in recent years. Up to now, the company has opened six five-star hotels with over 20 more under development. It is estimated that by 2010, it will have 16 hotels open.

As one of the world's largest hotel management companies, Hilton owns more than 3,100 hotels with over 520,000 rooms in 80 countries around the world. Conrad is the group's high-end brand.