Hyatt eye mid-range hotels as new growth driver

Hyatt Hotels will strengthen its presence in China's mid-range hotel market, according to the company's management.

Xia Nong, senior vice-president of Real Estate & Development of Hyatt International Hotel Management (Beijing) Co Ltd said the company will open 15 or 16 hotels in China under that brand Hyatt Place and Hyatt House.

“This segment is not so well-served in China, and we will take it as a new growth driver in the country,” said Xia, referring to hotel rooms with a price per night ranging from 500 yuan ($79) to 800 yuan.

But that does not mean the company will slow down its expansion into the high-end sector, Xia added.

Hyatt Regency, the high-end brand under the Hyatt Hotels Corp, just signed a deal with Lei Shing Hong Property Group to open its first hotel in Beijing in the Lei Shing Hong Center in the capital's Wangjing district — a major business hub in Beijing. The hotel is expected to open to business in 2017.

Microsoft, Daimler and Nestle all have their China headquarters in Lei Shing Hong Plaza, a commercial complex covering an area of 44,174 square meters.