Jin Jiang Hotels acquires 81% stake in Plateno Group
Jin Jiang Hotels Group and Plateno Group officially sealed the strategic partnership deal in which Jin Jiang takes 81% stake in Plateno Group.
ChinaTravelNews – Jin Jiang Hotels Group and Plateno Group officially sealed the strategic partnership deal in which Jin Jiang takes 81% stake in Plateno Group, a Chinese hotel giant with an estimated value of RMB10 billion. The partnership agreement was signed in a ceremony in Shanghai on September 18.
Signing ceremony of Jin Jiang Hotels and Plateno Group in Shanghai
Jin Jiang Hotels brings Louvre Hotels Group to Plateno Group partnership
The partnership will propel both to the forefront of the global hotel industry as multi-national hotel brands that are competitive internationally.
It will also bring together Jin Jiang Hotels, Louvre Hotels Group and Plateno Group to form a mega hotel group with over 6,000 hotels and 640,000 rooms in 55 countries.
The new hotel group will be well represented in all hotel categories having brands in the high, mid and budget ranges including:
J Hotel, Hotel Jin Jiang, Hotel Kunlun, Metropolo Hotels and Jin Jiang Inn brands under Jin Jiang Group;
Golden Tulip、Première Classe and Campanile brands under the Louvre Hotels Group;
Maison Albar, H12, Portofino Hotels, Lavande Hotels, James Joyce Coffetel, ZMax Hotels, IU Hotel, 7Days Premium and 7Days Inn brands under Plateno Group.
Plateno Group has the industry’s largest loyalty membership platform and has over four million fans on Wechat. The new hotel group will have over 100 million loyalty members on which it will be able to leverage to increase income from direct sales.
The three hotel groups will join hands to form a central booking and customer relations management system to enhance data analysis, improve channel and revenue management, link membership rewards programs and perfect its user experience.
Partnership to bolster Chinese hotel expansion overseas
Jin Jiang Hotels’s president Mingliang Yu said the partnership (with Plateno Group) will not only help both groups achieve their strategic goals but will also help integrate supply chain and bolster the globalization of its service. Both groups will retain the ethos of their individual brands while strengthening front desk operations and consolidating back-end resources. Both parties will leverage the partnership’s synergy to complement each other and create more opportunities in global development and multi-national management.
Plateno Group’s president Alex Zheng said: “Today is a historic day for China’s hotel industry. The public and private business sectors have come together to form a new mega company. We retain our identity while linking back-end operations in a mixed-ownership model that will drive us all to success. Jin Jiang Hotels is a market-driven global group that is establishing a mobile online hotel/tourism service ecosystem, and Plateno Group is a multi-brand global group obsessed with the user experience of our guests. We are constantly innovating to offer a rich experiential lifestyle ecosystem for our users. We believe that combining our strategic goals with Jin Jiang Hotels and constantly pushing for marketization of a joint operational system will bolster the development of all of the Plateno Group brands and be extremely beneficial overall.”
He also said: “Jin Jiang Hotels has the best business chain and Plateno Group has the best loyalty membership club platform and the most brands in the booming Chinese travel industry. Both groups are also leading Chinese hotel expansion overseas so a strong united hotel group will drive us forward as we ensure our standard of service is met for our guests abroad. Together with Jin Jiang, we aim to offer our Chinese hotel guests abroad Chinese-language service and even thier favorite dishes from back home.”(Translation by David)