The JV will leverage Jin Jiang Hotels’ franchise-ready infrastructure and robust supply chains across the country to rapidly launch the Quest brand and meet China’s underserved demand for apartment hotels in the upscale and upper midscale segments.
The Ascott Limited (Ascott), a lodging business unit wholly-owned by CapitaLand Investment (CLI), has announced that Ascott China has entered a 50:50 joint venture (JV) with Jin Jiang Hotels to advance the asset-light expansion of their respective apartment hotel brands in China, Ascott’s Quest and Jin Jiang Hotels’ TULIP LODJ.
Jin Jiang is China’s largest and the world’s second largest hotel group with about 13,250 operating hotels, over 1.34 million rooms and nearly 200 million loyalty members.
