China Hotel
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China Hotel (simplified Chinese: 中国大酒店; traditional Chinese: 中國大酒店) is a 5-star Hotel in Guangzhou, Guangdong, China.
History
China's first 5-star hotel and the first involving foreign capital, the China Hotel was built in 1984[1] by the Hong Kong-listed conglomerate Hopewell Holdings Ltd (controlled by Sir Gordon Wu) under a novel contractual agreement that came to be known as Build-Operate-Transfer, a means of building and operating joint ventures with local authorities in China. This arrangement allowed a foreign partner to build a facility at its own expense, operated it for an agreed length of time to generate a return on its investment, then hand it over to a local partner at no cost. New World Development, via its subsidiary New World Hotels (Holdings), also owned a minority stake.
China Hotel became the first hotel managed by Marriott in Mainland China in 1998, under a 20-year contract and was renamed China Hotel, A Marriott Hotel. It left Marriott at the end of the contract on October 31, 2018.[2] The hotel is currently owned by Guangzhou Lingnan International Enterprise Group Co. Ltd. In 2008, the hotel was fully renovated and offers 850 guest rooms.
References
- ^ Enright, Michael J (2016). Developing China: The Remarkable Impact of Foreign Direct Investment. Taylor & Francis. p. 163. ISBN 9781315393339.
- ^ http://www.guilinbravohotel.com/news/558.html
External links
23°8′32.54″N 113°15′19.20″E / 23.1423722°N 113.2553333°E
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