Cachet Hotel Group (CHG) has announced the signing of an exclusive development agreement with Qingdao Izunco Inn Investment Company to launch a Savant hotel by Cachet in Shandong Province, China. The recently launched Savant brand aims to attract tech-savvy travelers in Mainland China, and features prefabricated rooms that are assembled offsite, and delivered complete with lighting, carpeting, and showers.
“We are witnessing a fundamental shift in Chinese real estate as developers are looking to build boutique and midscale hotels that can address the growing demand for a higher quality of domestic tourism,” says Alexander Mirza, president and CEO of CHG. “In addition, a growing number of discerning but cost-conscious business and government travelers will provide a steady stream of consumers for midscale lifestyle hotels focused on tier-two and tier-three cities across China. The emerging midscale lifestyle segment is poised to capture spending from the burgeoning middle class who are looking for modern design and at an affordable price.”
The hotel targets midscale travelers, which spent $36.3 billion on total room revenues in China in 2015.
The Savant prototype hotel features 44,239 square feet of space, with 105 guestrooms. Features include a streamlined booking and payment process through WeChat; the wood-paneled Scholar Bar, which serves affordable wines that can be tasted through automated dispensers; the Habitat, a gathering space in the lobby; the Cardio Zone, a workout studio featuring T-Rex equipment; and a green roof that holds solar panels and plants, which provide clean energy to the rooms.
“Our goal is to open no less than 20 Savant hotels in the next three years in the Shandong province,” says Zhang Yuyong, chairman of the board of Qingdao Izunco Inn Investment Management Company. “By combining our deep knowledge of the region and Cachet’s experienced international management team, we are confident in building Savant into a leading brand in the Chinese midscale segment.”
CHG plans to grow Savant to a portfolio of 200 managed and franchised hotels across China. The properties will be located in a mix of city, airport, and suburban locations.
