Property Holding

Hotels

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.

M Hotel Chengdu

Location

No. 388, North Yizhou Avenue, Gaoxin District, Chengdu, Sichuan Province, PRC.

Year of construction

2010

Gross floor area1 (sqm)

19,228

Description

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.

Land Tenure

Leasehold to year 2049

Number of car park lots

-

Notes:

  1. Gross floor area ("GFA") excludes underground GFA.

Crowne Plaza Chengdu Wenjiang / Holiday Inn Express Chengdu Wenjiang Hotspring

Location

Wenjiang District, Chengdu, Sichuan Province, PRC.

Year of construction

2013

Gross Floor Area1 (sqm)

81,041

Description

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.

Land Tenure

Leasehold to year 2051

Number of car park lots

772

Notes:

  1. Gross floor area ("GFA") excludes underground GFA.