Hospitality group Dusit International has signed a joint venture agreement with Changzhou-based real estate and hotel developer, Changzhou Qiao Yu Group to add a further 10  hotels in China to its growing portfolio of nearly 30 hotels, resorts and residences. In addition to the two major shareholders, Dusit International and Qiao Yu Group, the joint venture also includes two individual partners and veterans of the hotel industry, Mr Giovanni Angelini and Mr Harris Yang.
     The agreement is in line with Dusit's plan to further grow their brands in China, with five hotel management agreements confirmed, five developments in the pipeline, and an additional number of hotel management agreements soon to be announced in Jiangsu and Guangdong provinces.
     The Qiao Yu Group has grown from a manufacturing company supplying tourist and camping goods to a highly diversified group. The group has over a decade's experience in building and managing real estate and hotel properties in China. Existing hotels operated by Qiao Yu Group include the Fudu Qingfeng Garden Hotel and Days Hotel and Suites Fudu.
     Future properties to be developed under this new joint venture agreement will include three more hotels in Changzhou, one in Qingdao and possibly one in Wuxi. Cities targeted by the agreement over the next five to ten years include Shanghai, Kunming, Chengdu, Chongqing, and Hainan. Currently, Dusit International has planned a presence in Hainan with its Dusit Thani and Dusit Devarana resort brands, slated to open soon. By 2020, over 5,000 rooms will be under Dusit Fudu International Hotel Management Company by way of this joint venture agreement.


(From left) Harris Yang, Director of Development, Greater China of Dusit
International, Chen Li Bin,Chairman of Changzhou Qiao Yu Group, Chanin
Donavanik, Managing Director and CEO of Dusit International and Giovanni
Angelini, Vice Chairman of Dusit International