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News for the Hospitality Executive |
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Joint Venture Selects Hilton to Manage a 500-room
Resort on China�s Tropical Island of Hainan
The Hilton Qing Shui Bay Resort & Spa is Scheduled to Open in 2012
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Beverly Hills, Calif., and Shanghai China, 29 October, 2008 - Hilton Hotels Corporation announced today that it has signed an agreement with Hainan Agile Real Estate Development Company Limited a joint venture between Agile Property Holdings Limited and funds managed by Morgan Stanley, to manage the Hilton Qing Shui Bay Resort & Spa, a 500-room property on China�s tropical island of Hainan. Panorama Hospitality, a wholly owned unit of Morgan Stanley, advised the joint venture on this transaction. The Hilton Qing Shui Bay Resort & Spa is scheduled to open in 2012. This latest signing reinforces Hilton�s commitment to becoming a household name in China and will be the third full service upscale hotel under the Hilton brand on Hainan Island, following the success of the Hilton Sanya Resort & Spa which opened in Yalong Bay in 2005. Hilton also announced plans to open the Hilton Haikou in the island�s provincial capital in 2011. A new-build hotel, the Hilton Qing Shui Bay Resort & Spa will be part of a carefully planned and designed multi-hotel development that stretches along 12 km of crescent-shaped coastline, overlooking Qing Shui Bay, (which means �clear water� in Chinese). Set to become an integrated resort destination, the Qing Shui Bay development will feature championship golf courses, a comprehensive retail village, a marina and a vast range of water sport activities. Andrew Clough, Senior Vice President Development Hilton Hotels � Middle East and Asia Pacific commented, �Hainan Island is increasingly popular among travelers from around the world. Known as the �Hawaii of Asia�, Hainan offers year-round tropical climes and boundless opportunities for leisure activities. Hilton is proud to become a part of the exclusive Qing Shui Bay development which will offer guests a new, high-end luxury experience in the heart of China�s most popular holiday destination. With projects like Qing Shui Bay that are backed by strong developers, we see great potential to continue to significantly expand our Hilton Family presence in Southern China�. Hilton Qing Shui Bay Resort & Spa will feature 500 guest rooms,
a stunning health club, swimming pool and spa, with 4 food and beverage
outlets including a signature Chinese restaurant and lobby lounge.
Hilton Hotels Corporation currently operates, via its international subsidiary, eight hotels in China, including Hilton hotels in Shanghai, Beijing, Beijing Wangfujing, Sanya, Chongqing, Hefei, a Doubletree by Hilton Beijing and a Conrad Hotel in Hong Kong. Future development plans and forecasted opening year: 1. Doubletree by Hilton Huaqiao/ Kunshan 2009In June 2007, a new joint venture company was launched by RREEF (the global alternative investment management arm of Deutsche Bank) and private equity firm H&Q Asia Pacific to develop and manage a portfolio of more than 25 focused service hotels in mainland China under the Hilton Garden Inn brand. About the Hilton Hotels Corporation
Agile Property Holdings Limited (Stock code:3383), is a Hong Kong-listed company, which focuses on property development and operations, and has extensive involvement in property management and decoration services, as well as renowned brand name nationwide. The Company is one of the few developers that are included in Morgan Stanley Capital International China Index and the Hang Seng Composite Index and Hang Seng Freefloat Composite Index. Relying on its outstanding management team and operation strategies, Agile�s pursuit for global living standards and perfection have never wavered since the birth of its first project in 1992. From international architecture vision to �develop our future with vision and enthusiasm�, Agile�s strong brand is built and experience of property development is accumulated through fierce competition in the market, that make Agile the leading brand name among property developers in Greater China Region. Currently, the Group has projects in more than 20 cities, including Zhongshan, Guangzhou, Foshan, Jiangmen, Heyuan, Huizhou, Shanghai, Nanjing, Chengdu, Chongqing, Xian, Shenyang, Hainan, etc. We supply various types of property including low density apartments, villas and commercial buildings to satisfy customers� needs. For more information about the company, please visit www.agile.com.cn |
| Contact:
Faith Thoms
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