Corinthia is poised to expand into China through a partnership that will see it operate a high-end hotel in Chengdu.
The hotel chain’s parent firm International Hotel Investments announced the partnership with ShiLong Industry Co and The Geminus Group in a statement to the market on Tuesday.
The Corinthia Chengdu will occupy a new 225 metre tower under construction in Chengdu’s Gaoxin District and is scheduled to open in 2032. It is slated to feature 150 rooms and 60 high-end residences offering panoramic views of the city.
Chengdu is the capital of China’s Sichuan region and has a population of 21 million.
“The development will combine luxury retail, residential and commercial components with a total investment of approximately RMB 4.0 billion. Designed to meet the highest standards of contemporary luxury and sustainability, the project reflects the ambition and forward-looking character of the city itself,” the company said in a statement.
It will be Corinthia’s first foray into the Chinese market.
The company’s partner in the venture has significant experience in the sector. Shilong Industrial Co Ltd specialises in real estate and property development in Chengdu, with a particular focus on hotel construction and management.
The London-based Geminus Group will act as an advisor to Corinthia, a company spokesperson told The Business Picture.
Simon Naudi, Group CEO of Corinthia Group, commented: “Bringing Corinthia to China marks an exciting milestone in our international growth. Chengdu is a city of dynamism, creativity and cultural depth – qualities that resonate deeply with our own philosophy. With this project we are proud to introduce Corinthia to Central China, creating a landmark destination that reflects the spirit of its setting while delivering the character and intuitive service that define our brand. We look forward to welcoming both domestic and international guests to experience Corinthia in one of China’s most vibrant and forward-looking cities.”
XIAO Miaomiao, chairman of Shilong Industrial Co., said: “As a city co-constructor deeply rooted in the local community, we look forward to our in-depth cooperation with Corinthia, a leading European luxury hotel brand. Together, we will convey the brand’s heritage, uphold global excellence in service, and integrate these with Chengdu’s distinctive local culture. Through this collaborative effort, we aim to create a new benchmark for luxury living that embodies both an international outlook and local character, contributing to Chengdu’s emergence as a world-class destination for high-end consumption and resort experiences.”
Anthony Bailey, Chairman of The Geminus Group, said Chengdu deserved a new landmark in hospitality.
“Building on our strategic partnership with Corinthia, this project reflects our long-term commitment to China: setting a new benchmark for luxury – service-led, beautifully crafted and unmistakably rooted in place.”
Corinthia said it continues to explore additional opportunities across China as part of its carefully phased expansion strategy, underscoring the group’s long-term commitment to the market.
Founded in Malta and with Maltese ownership roots, the Corinthia hotel group has been steadily expanding globally over the past years. It now operates hotels in major capitals such as London, Rome, Budpest and Brussels as well as New York, with pans to operate a hotel in Abu Dhabi.
To help finance that expansion, the company sold a major stake in its Lisbon development and announced a €45 million bond issue late last year.
