Wanda Group sees accelerated growth in cultural tourism brands in 2015
Mr. Wang said that Wanda Group’s revenue target for the second half of this year was RMB167.12 billion with RMB390 million of it profit attributable to owners .
ChinaTravelNews – Wanda Group’s chairman Jianling Wang unveiled a series of major strategic initiatives at the Wanda Group Working Conference for the first half of 2015 with an emphasis on developing Wanda Tourism and Wanda Hotels.
Wanda Group chairman Jianlin Wang
In the work report, Mr. Wang revealed that Wanda Group opened two hotels with 548 rooms in the first half of the year, bringing its total hotel number to 73 hotels with total capacity of 22,847 rooms. Among them, 64 hotels with 19,713 rooms that are operated by Wanda Commercial Properties earned RMB2.38 billion (approx: US$383 million), equivalent to 40% of the annual target, 102% of the semi-annual target and 27.6% more than the same period last year. Profit attributable to owners grew significantly, to RMB290 million (approx: US$46.7 million) , or 49% of the annual target, 148% of the semi-annual target and 36% more than the same period last year, thanks to Wanda Group’s effective management.
Mr. Wang said that Wanda Group’s revenue target for the second half of this year was RMB167.12 billion (approx: US$26.9 billion), of which profit attributable to owners would be RMB390 million (approx: US$62.8 million)and the tenders for three lots of land for its cultural park projects will be completed.
In the second half of 2015, Wanda Group plans to open 22 more Wanda Plaza malls and 12 hotels with a total of 3,428 rooms. “The opening of the Xishuangbanna resort in September is especially important and will be the highlight for this year,” he said. The Xishuangbanna resort is a prototype for the Wanda Cultural Park project and is thus critical to the future success of the theme park attractions.(Translation by David)