Joint Venture to manage in China

Officials of Dellisart Lodging, a hotel ownership, management, development and acquisition group, and Bestride Holding Ltd, A Hong Kong-based company, today announced that they had formed a joint venture, Dellisart American Hotels & Resorts Ltd., to manage hotels in China. The joint venture’s goal is to own and operate 60 four- and five-star hotels throughout China over the next five years. The companies also announced that the joint venture has signed agreements to manage its first two properties: the 236-room, five-star Bestride Hotel in Changsha, Hunan, China, and the Gateway Club in the Gateway Plaza in Beijing, China, in the city’s newest and largest office building, located on the “third ring.” The twin, 34-story complex opened in August 2005.
“China offers an incredible opportunity for hoteliers,” said Douglas Artusio, Dellisart founder, president and CEO (pictured). “With the growing importance of China in the global economy, there is an ever-increasing demand from both business and leisure travelers for superior hospitality experiences. This joint venture allows both partners to take advantage of their strengths for the benefit of the whole. Bestride Holdings Ltd built and has operated the Bestride Hotel in Changsha, Hunan Province for the past six years. Their network in the hospitality industry is extensive with both private Chinese hotel owners, as well as government-owned properties. Our team brings three decades of operating experience in the luxury, full-service segment and a proven track record as a top operator in the extended-stay segment. Miguel Coder has joined our team as senior vice president of operations for the full-service division and as CEO of Dellisart American Hotels & Resorts Ltd., based in Beijing, China. With such a formidable combination of resources, we believe the joint venture has the resources and ability to acquire and operate at the highest level.”
Located at 386 Labors Road W., the 33-story, five-star Bestride Hotel in Changsha, capital of Hunan Province, overlooks the Xiang River and is connected to Baisha Well Park. The hotel features meeting space capable of accommodating 1,000 people, a state-of-the-art fitness center and two onsite restaurants, the Lobby Bar and Star & Moon Porch. All rooms are equipped with high-speed Internet access, a coffeemaker, private bath and an IDD telephone.
The Gateway Plaza is in the center of the Lufthansa Business Circle, a major business district in Beijing, located at 18 Xiaguangli, North Road, East Third Ring, Chaoyang District, Beijing, 100027 China, and is close to the Beijing Central Business District (CBD) and Beijing International airport. The building has both Chinese and Western restaurants totaling 500 seats, banking and financial offices, and a health spa, including an indoor pool and fitness center with a sauna and massage center.
Artusio noted, “Dellisart Lodging is making a major push into the international arena in China and expects to expand in several different countries by the end of 2005 through management contracts and new property development into the future.”
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