Hotel chain takes up China link
NZPA-AP Peking The world’s biggest hotel chain formally entered the China market when the Lido Hotel, a China-Hong Kong joint venture on the road to Peking airport, was renamed the “Holiday Inn Lido Beijing.” Holiday Inn has managed the Lido since it opened with 500 rooms in February, 1984, but it held back from a full management agreement until the recent completion of another 500 rooms.
The first phase would now be redecorated to Holiday Inn standards, said the chain’s managing director for Asia-Pacific, Mr Rudi Koppen. By mid-1986, the complex will include 322 residential flats at rents of up to SUS6OOO ($12,000) a month,
an office block, sports club, supermarket and Peking duck restaurant. IBM has rented 55 of the apartments and reserved three floors of office space, Lido officials said. Mr Koppen disclosed
plans for seven more Holiday Inns in six Chinese cities in a major expansion that will boost the number of Holiday Inns in the AsiaPacific region from 23 to 55 within the next decade.
“We’re also discussing a master agreement with a large corporation in Hong Kong that wants to build 10 or 12 hotels in China in the next five years,” said the German-born hotelier.
A 316-room Holiday Inn at Xiamen special economic zone on China’s south-east coast is already under construction.
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Press, 3 February 1986, Page 36
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224Hotel chain takes up China link Press, 3 February 1986, Page 36
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