The Group's property holding business which consists of hotel ownership and operations as well as investment properties held for rental income, aims to generate a stable stream of recurrent income and future capital gain. The Group's hotel in Chengdu, M Hotel Chengdu, is managed by a subsidiary of M&C UK, one of its controlling shareholders. The Group also develops and owns the two hotels within the Millennium Waterfront project. The Group has entered into long term hotel management contracts with InterContinental Hotels Group (Shanghai) Ltd for operation of these two hotels, which are set to be branded as Crowne Plaza and Holiday Inn Express when operations commence in 2017.
No. 388, North Yizhou Avenue, Gaoxin District, Chengdu, Sichuan Province, PRC.
Comprises 196 hotel rooms and suites, an all-day dining restaurant, swimming pool, gymnasium, squash court and banquet multi-purpose hall. The hotel has its soft opening in September 2013.
Leasehold to year 2049
Wenjiang District, Chengdu, Sichuan Province, PRC.
Expected to comprise a total of 610 hotel rooms with retail units, recreational facilities include a roof-top restaurant, a bar, a heated swimming pool, a scenic garden, spa services as well as a hotspring, and an adjoining convention centre for up to 1,000 guests.
The hotel is currently under development and is expected to be operational in 2017.
Leasehold to year 2051