Ascott to expand apartment hotel business in China through joint venture with Jin Jiang

Quick Summary:

Under the joint venture, more apartment hotels under Ascott’s Quest and Jin Jiang’s Tulip Lodj brands will be developed and managed in China.

A hotel franchise model is a business arrangement where a hotel brand or a franchisor allows an independent hotel owner or operator, the franchisee, to use its brand, trademarks and business systems in exchange for fees.

Jin Jiang is China’s largest hotel group and the world’s second-largest, according to a statement on Oct 23 by Ascott, citing third-party data.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Franchise Joint Venture Business Jiang Ascott Ascott’s Partnership Hotel Hotels China

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 23:00:34 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 563 words

Reading Time: 4 minutes read

Sentences: 25 lines

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Copyright Owner: © The Straits Times

News ID: 23216709

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