The brand, to be named later, is aimed at meeting the evolving needs and aspirations of a growing number of young travellers in the upper-midscale segment in China, providing them with a seamless and premium travel experience.
In an unprecedented move expected to set a new benchmark for the local hospitality industry, the collective strengths of Hyatt's global experience in premium hospitality and BTG Homeinns’ scale as one of China’s largest hotel chains, is expected to position both companies to capitalise on China’s expanding travel and tourism market.
According to the Ministry of Culture and Tourism of The People's Republic of China, domestic tourism revenue saw a 13 percent increase in 2018. As income levels continue to rise, China's middle class is seeking higher-quality offerings and travel experiences.
Under the joint venture, Hyatt and BTG Homeinns will create and launch a new hospitality brand positioned to compete in the currently underserved upper-midscale segment. In a bid to better serve the unique needs of Chinese consumers, the new and entirely homegrown hotel brand will be built specifically to meet Chinese travellers’ preferences and growing expectations for a seamless, comfortable and convenient travel experience.