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Another star hotel will join the Shanghai urban landscape with the 250 million (US$30 million) Holiday Inn Vista Shanghai having its soft opening soon.
Owned by Anhui Province-based distillery, the Gujing Group, the inn is located on Changshou Road. The 21-story hotel, with 290 rooms, will be managed by the Inter Continental Hotels Group as a four-star unit.
"We believe that a four-star hotel is suitable for the area at the moment," said Darwin K Yan, its general manager.
Compared with most other hotels near the railway station, which target tourists, the new hotel will mainly attract business travelers and meeting groups.
"It's ten minutes' drive from Jing'an Temple and the Jade Buddha Temple, two places of local interest," Yan added.
Inter Continental is an up-market brand of the US-based hotel management group, Six Continents, which will be renamed Inter Con-tinental Hotels Group tomorrow.
"We offer more than the required four-star standard," Yan said, referring to the rain forest shower and advanced fitness facilities.
Currently, Shanghai has 27 four-star and 20 five-star hotels.
Yan is betting on a boom in the local hotel market to survive competition.
"Even though there will be more inventory and com-petition, everyone can have a share of the market," he said. "There should be no need for cut-throat price-cutting."
The Inter Continental Hotels Group entered China in 1984, starting from the high-end market. The com-pany is gradually turning to the medium level market as competition in the luxury hotel business mounts.
The group has introduced three brand hotels to Shanghai - Inter Continental, Crowne Plaza and Holiday Inn.
(eastday.com April 14, 2003)
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