Ascott and Jin Jiang Hotels Start Joint Venture to Extend Hospitality in China

A joint venture between Ascott and Jin Jiang Hotels is planned to expand presence of apartment hotel brands in China using franchise model to add to hospitality choice.

The Ascott Limited (Ascott), a wholly owned subsidiary of CapitaLand Investment, said the two have entered into a 50-50 joint venture to bring the two apartment hotel brands to China. The collaboration will expedite the asset light growth of Ascott’s Quest brands and Jin Jiang’s TULIP LODJ brands in response to heightened demand for upscale and uppers midscale hospitality.

With a franchise model, the vehicle will run 3 hotels (2 in Wuhan, 1 in Shenzhen) totaling about 600 rooms. They aim to expand TULIP LODJ in Southeast Asia and introduce Quest to China due to hospitality industry growth.

As the industry-leading Chinese hotel group, Jin Jiang possesses great advantages given the considerable local resources available for high speed brand development. With a wealth of international serviced apartment’s management experience, Ascott intends to develop TULIP LODJ as a mid-end hotel with serviced apartment elements.

At the Ascott Unlimited Global Marquee Event during ITB Asia 2024, the strategic collaboration between Ascott and the event was highlighted. CEO Kevin Goh discussed the potential for the hotel franchising industry in the country at the 40th anniversary celebration.

In addition to fitting into Ascott’s growth strategy, the joint venture also demonstrates Ascott’s determination to provide hotels of the highest standards. More rewarding loyalty programs will also be offered in line with values of enhancing guest experience in the country, with memberships of Ascott and Jin Jiang integrated to allow for point earning and usage interchangeably.