CapitaLand Investment Limited (SG:9CI) has released an update.
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CapitaLand’s Ascott Limited has teamed up with Jin Jiang Hotels in a 50:50 joint venture to expand their apartment hotel brands, Quest and TULIP LODJ, in China. This strategic move aims to leverage Jin Jiang’s extensive franchise network and Ascott’s expertise in serviced residences to meet China’s growing demand for upscale and upper midscale accommodations. The collaboration, revealed at ITB Asia 2024, highlights both companies’ commitment to growth in the dynamic Chinese hotel market.
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