FRHI Hotels & Resorts and Jiangsu Golden Land Group have debuted the Neqta Hotels brand in China with the opening of an inaugural property in Shanghai’s Xuhui District, near the World Expo site. A second Neqta hotel is expected to debut soon in Nanjing.
“With domestic business travel on the rise and market research indicating Chinese consumer spending will more than double over the next five years, we see this as a remarkable opportunity to further grow our footprint in China,” says Wayne Buckingham, FRHI’s senior vice president of operations, Asia Pacific, and chairman of the new joint venture. “Guided by extensive research and our own customer insights, we have designed a contemporary hotel brand that will be highly attractive to both property developers and the Chinese consumer, in particular the Millennial business traveler in the 22 to 40 age demographic.”
The upper midscale hotels will feature open lobbies that serve as social hubs. Ergonomically designed and uncluttered guestrooms include the latest technology and rain showers, while business travelers have access to a variety of private meeting areas.
“Expanding into the right markets will be a top priority and we believe there is a natural opportunity to develop Neqta Hotels within many of Golden Land’s predominantly mixed-use developments,” says Joseph Soh, managing director of the joint venture. “With an average room count of about 150 and room sizes in the 28 to 32 square meter (300 to 350 square feet) range, we also see the brand being a compelling business proposition for Chinese property developers looking to invest.”
