Luxury hotel company Langham Hospitality Group, Hong Kong, and Shui On Land Ltd, Shanghai, announced this week that they are creating a lifestyle hotel and residences joint venture.
The joint venture will be branded 88 Xintiandi and Shui On Land will have 40% interest and Langham Hospitality Group will have 60% interest. The JV will roll out the 88 Xintiandi brand for Shui On Land’s hotels and serviced residences in China.
The first 88 Xiantiandi branded property has opened in Shanghai this month, offering 53 luxury executive serviced apartments in the People’s Republic of China’s largest city.
“I believe the strategic alliance of Shui On Land and Langham Hospitality Group will enable us to fully utilize the services and experience of Langham Hospitality Group in our joint venture project,” said Freddy Lee, Shui On Land CEO.