China’s GreenTree Inn plans to enter the serviced apartment market.
According to local media quoted by China Hospitality News GreenTree Inn plans to open serviced apartments and hotels in Beijing, Shanghai and Tianjin under the company’s new brand.
There are two being constructed in Shanghai, one in Beijing and one in Tianjin. The report said these would offer a total of about 1,000 apartments.
The two properties in Shanghai are expected to open soon – earlier than the rest. GreenTree Inn said that their serviced hotels target corporate business travelers with an average apartment price of RMB3,500 per month.
Besides these, GreenTree Inn is also reportedly planning to expand into overseas markets, such as the United States, India, Indonesia, Vietnam, South Africa, Japan, and Thailand. The first overseas hotel project will be a business hotel in India, which is scheduled to open by the end of June 2008, the report said.
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