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Wanda sets lofty hotel goal in 2015
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CHINA’S Dalian Wanda Group is accelerating its expansion into the luxury hotel business with plans to become the world’s largest five-star hotel owner in 2015.
Wanda Hotels & Resorts Co, a wholly owned subsidiary of Dalian Wanda Group Corp, said it will build new hotels in 100 Chinese tourism destinations by 2015 to become the world’s largest five-star hotel owner.
By the end of 2018, the company plans to own more than 150 luxury hotels in China, Europe, the US and Australia.
Wanda Hotels & Resorts Co was founded in 2012, with the goal of becoming China’s preeminent global luxury hotel brand. It owns and manages hotels under three names: Wanda Realm, Wanda Vista, and Wanda Reign.
By the end of 2014, the company will own 71 luxury hotels in China.
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