7 Days Inn expands beyond China into Thailand, Malaysia
CHINA’S major budget hotel brand, 7 Days Inn, has stepped out of its homeland to plant flags in Thailand and Malaysia, the first destinations in the chain’s expansion plan for South-east Asia.
Eric Wu, CFO and executive director of Plateno Group which owns 7 Days Inn, told TTG Asia e-Daily the brand's first overseas property opened this year in Chiang Mai, while a second property is expected to launch soon in Bangkok.
The contract for another conversion project has only just been inked for the third property in Malacca, Malaysia.
Wu added: "We are also looking to set up a regional office in Singapore to help in securing suitable partnerships for projects in the region."
Given the exponential growth in Chinese outbound travel in recent years to South-east Asia, North America and Europe, Wu said the foreign properties' would primarily target and serve Chinese consumers, secured mainly through direct sales.
"However, we will also cater to the local market, adapting our offerings accordingly while maintaining our image of being a brand for the younger travellers," he said.
Meanwhile, back home, 7 Days is continuing its reach into third- and fourth-tier cities. Wu shared there is also a "fifth tier" to target, which includes counties and towns.
Guangzhou-headquartered 7 Days Group was founded in 2005 and currently owns and operates over 2,000 hotels across China, boasting about 70 million members.
Last year, the group was wholly acquired by new hotel group Plateno, which also owns the high-end Portofino Hotel, mid-scale Lavande Hotel, Zmax Hotel, and James-Joyce Coffete.
Read the original article.