Oct. 25, 2010 (China Knowledge) - U.S.-based Hilton Worldwide recently signed a strategic cooperation agreement with Shimao Group, the parent of Chinese developer Shimao Property Holdings Ltd<0813>, to jointly develop hotels in eight Chinese cities, sources reported.
The cities include Tianjin, Nanjing, Wuhan, Shenyang, Qingdao, Yantai and Wuxi.
The eight hotels are expected to start operation during the period from 2011 to 2014.
Christopher J. Nassetta, president and CEO of Hilton Worldwide said that the company plans to open more than 100 hotels in China in the next five years.
Since 1988 when the hotel operator entered China, Hilton Worldwide has managed 14 hotels in the fast-growing market, added Nassetta.
The cities include Tianjin, Nanjing, Wuhan, Shenyang, Qingdao, Yantai and Wuxi.
The eight hotels are expected to start operation during the period from 2011 to 2014.
Christopher J. Nassetta, president and CEO of Hilton Worldwide said that the company plans to open more than 100 hotels in China in the next five years.
Since 1988 when the hotel operator entered China, Hilton Worldwide has managed 14 hotels in the fast-growing market, added Nassetta.
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