Hyatt and China Resources Land Join Forces: Expanding Hotel Horizons in China

Hyatt Hotels Corporation and China Resources Land (CR Land) have entered a strategic joint venture to accelerate the expansion of Hyatt’s portfolio in China, targeting new luxury and lifestyle destinations. This collaboration will integrate Mumian hotels into Hyatt’s world-renowned collection, creating new opportunities for travelers while cementing Hyatt’s leadership in China’s hospitality market.

In a move that underscores Hyatt’s commitment to its second-largest market, the hotel giant has teamed up with China Resources Land (CR Land) in a strategic joint venture designed to expand its footprint across China’s hospitality landscape. The partnership, announced in 2024, promises to introduce a new chapter for both companies as they collaborate to develop and manage an expanding collection of high-end hotels.

The Birth of Yuen Kai Holdings Limited: A Joint Venture for Growth

Hyatt and CR Land have created Yuen Kai Holdings Limited, a joint venture that will oversee the management and development of hotels, initially focusing on six existing Mumian properties in Beijing, Shenzhen, Chengdu, Hangzhou, and Rizhao. These hotels will be joined by two new Mumian hotels set to debut in 2025, located in Shaoxing and Shanghai. This initial phase of expansion is just the beginning, with plans to introduce these properties under Hyatt’s boutique **Unbound Collection** and JdV by Hyatt brands.

This collaboration blends Hyatt’s global expertise in luxury hospitality with CR Land’s strong presence in urban development. With over three decades of experience, CR Land has played a pivotal role in shaping China’s urban landscape, and through this joint venture, it will bring its deep knowledge of local markets and real estate management to support Hyatt’s growth ambitions.

A Legacy of Partnership and Expansion

Hyatt and CR Land’s relationship is not new. Their partnership began in 2009 with the opening of Grand Hyatt Shenzhen, a property that set a high standard for luxury hotels in China. Since then, CR Land has been instrumental in Hyatt’s continued expansion across the country, owning properties such as Park Hyatt Hangzhou, Grand Hyatt Dalian, and Andaz Xiamen. The joint venture is the next logical step in deepening their collaboration, leveraging each other’s strengths to capture more of the burgeoning Chinese travel market.

As China’s hospitality industry continues to recover from the pandemic and adapts to evolving traveler preferences, the joint venture aims to address these changing demands by offering both domestic and international travelers more options in lifestyle-oriented, experience-driven accommodations.

Mumian Hotels: A Key Player in the Portfolio

The inclusion of Mumian hotels is a significant aspect of this partnership. Known for their unique, locally inspired designs, Mumian hotels will retain their individual identities while becoming part of Hyatt’s collection of brands. This move will enhance Mumian’s visibility and competitiveness in the market while offering Hyatt’s World of Hyatt members more opportunities to earn and redeem loyalty points across new destinations.

Richard Li, the newly appointed CEO of Yuen Kai Holdings Limited, expressed excitement about the future, stating, “We are dedicated to delivering distinctive and memorable experiences for our guests. This collaboration represents a monumental opportunity to grow and refine the Mumian brand, and we are eager to leverage the extensive resources of CR Land and the global reach of Hyatt to ensure continued success.”

Looking to the Future: New Projects on the Horizon

As part of the strategic agreement, Hyatt and CR Land will also develop new Hyatt-branded hotels, including the much-anticipated **Park Hyatt Xi’an and Andaz Dongguan, solidifying their commitment to building a long-term presence in China. With more than 165 properties across 60 cities in the Greater China region, Hyatt’s portfolio continues to flourish, driven by partnerships like this one that emphasize sustainable, asset-light growth.

David Udell, Hyatt’s Group President for Asia Pacific, noted, “Our alliance with CR Land is a crucial component of our growth strategy in China. By combining CR Land’s local expertise and urban development capabilities with our luxury and lifestyle hospitality brands, we are poised to deliver unparalleled experiences for travelers and create lasting value for our stakeholders.”

CR Land’s Continued Evolution in Hospitality

For CR Land, this partnership is a natural extension of its own hospitality journey, which began in 2002. Over the past two decades, CR Land has expanded into 85 cities within and beyond mainland China, making it one of the country’s most prominent urban developers. The company’s motto, “Better Quality Better City,” reflects its commitment to enhancing urban living through innovative, high-quality developments.

According to Zhang Dawei, Vice Chairman of the Board of CR Land, “Our joint venture with Hyatt signals the next step in our growth in the hospitality sector. By working alongside a globally respected brand like Hyatt, we are confident in our ability to elevate our service standards and broaden our offerings to meet the needs of a diverse range of travelers.”

Strengthening Hyatt’s Market Leadership

This joint venture reinforces Hyatt’s leadership in China’s hospitality market, a region that remains vital to its global strategy. As China continues to reopen its borders to international travel and experiences a surge in domestic tourism, Hyatt’s expanded portfolio will be well-positioned to meet this growing demand. By focusing on asset-light partnerships and locally relevant offerings, Hyatt and CR Land are set to create a new wave of hospitality innovation, reshaping the travel experience in China.

Stephen Ho, Hyatt’s President of Growth and Operations for Asia Pacific, emphasized, “This collaboration strengthens our commitment to expanding in China through asset-light growth, allowing us to continue delivering exceptional experiences for our high-end travelers while differentiating ourselves from the competition.”

With new hotels, exciting developments, and a joint vision for the future, Hyatt and China Resources Land are set to redefine the hotel landscape across China, offering unforgettable experiences for travelers while driving growth and value in the country’s thriving hospitality market.