Chen Miaolin, president of New Century Tourism Group, says that his company will invest more than RMB600 million to construct a flagship hotel in Beijing.

The New Century Grand Hotel Beijing will be a 5-star hotel and it is scheduled to open at the beginning of 2008. It is New Century's second hotel in Beijing after the Gehua New Century Hotel Beijing, whose construction was started in 2005 and is scheduled to open in 2007.

The New Century Grand Hotel Beijing is located at the center of Xuanwu District in Beijing where the local government plans to make it a cornerstone of communications for the district. There will be 280 rooms in the hotel, and there will be a 5A grade office building and a large-scale underground shopping mall attached to the hotel.

At present, New Century is managing and constructing 19 hotels all over the country, and 13 of them have already been opened.