Thailand based Minor Hotels has inked a hotel management joint venture agreement with China’s Funyard Hotels & Resorts.
The JV will oversee business development, hotel operations, as well as sales and marketing functions of seven Minor Hotels brands in China.
The announcement follows the signing of a Memorandum of Understanding between the two groups in January 2021 and officially came into force on 29 June 2021.
Minor Hotels is expanding in the Chinese market and the companies say the joint venture will meet the evolving needs of the domestic traveller.
The new business entity with Funyard Hotels & Resorts is well placed to offer a variety of products, ranging from luxury to serviced apartments and experiential brands.
Among the brands that Minor Hotels is planning to bring to China as part of the partnership are the Avani, nhow, NH Collection and the Oaks serviced apartments and resort accommodation chain which predominantly operates in Australia and New Zealand.
Oaks will debut in China with the opening of a property in Hangzhou.
Dillip Rajakarier, CEO of Minor Hotels, said: “Growing our presence in China has always been one of the top priorities for Minor Hotels. The strategic partnership with Funyard Hotels & Resorts is the perfect opportunity for us to bring quality hotel experiences and exclusive lifestyle products to Chinese consumers.”