Ennismore in collaboration with Accor announced an unprecedented long-term master franchise agreement with Country Garden’s core alliance enterprise, Funyard Hotels and Resorts to open more than 1,000 JO&JOE hotels in China.
On March 30, Country Garden’s latest annual report showed that in 2021, Country Garden’s sales scale will remain the industry leader, the scale of debt and financing costs will “double down”, the debt structure will be further optimized, and the financial situation will become more stable. For the whole year of 2021, Country Garden's equity contracted sales amounted to 558 billion yuan, revenue
Minor Hotels plans to open its first Thai hotel under the NH Collection brand in Chiang Mai next year as it aims to expand the brand into prime tourism locations.
Investors seem to have lost their appetite for bonds issued by Chinese developers while rising defaults have pushed the cost of funding for the entire sector.