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Singapore: FRHI Hotels & Resorts has launched Neqta Hotels, a lifestyle hotel brand aimed at Chinese millennial travellers.
Singapore: FRHI Hotels & Resorts has launched Neqta Hotels, a lifestyle hotel brand aimed at Chinese millennial travellers.
FRHI has launched the brand in a joint venture with China’s Jiangsu Golden Land Group. Neqta will be a portfolio of “upper mid-scale hotels located in some of the most in-demand destinations across China”.
The inaugural Neqta hotel opened this week in Shanghai’s Xuhui District, close to the city’s World Expo site, and a second hotel is expected to debut soon in Nanjing.
“With domestic business travel on the rise and market research indicating Chinese consumer spending will more than double over the next five years, we see this as a remarkable opportunity to further grow our footprint in China,” said Wayne Buckingham, FRHI’s senior vice president of operations, Asia Pacific and chairman of the new joint venture. “Guided by extensive research and our own customer insights, we have designed a contemporary hotel brand that will be highly attractive to both property developers and the Chinese consumer, in particular the millennial business traveler in the 22 to 40 age demographic.”
Joseph So, managing director of Neqta, said: “It’s the perfect time to be developing a dynamic, new hotel brand in China; the travel market in China has matured greatly over the last decade and there is now significant demand for this type of hotel product. Expanding into the right markets will be a top priority and we believe there is a natural opportunity to develop Neqta Hotels within many of Golden Land’s predominantly mixed-use developments. With an average room count of about 150 and room sizes in the 28 to 32 square meter (300 to 350 square feet) range, we also see the brand being a compelling business proposition for Chinese property developers looking to invest.”
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