Boutique Design - May 2017 - 8
EditEd by Mat thEw hall
Barry Sternlicht's Starwood Capital Group has big plans for the world's most
populous country. Starwood has formed a joint venture with Shimao Property Holdings Ltd. that will focus on developing, operating and branding
hotels in China via management contracts and lease agreements.
The venture will be owned 51 percent by Shanghai-based Shimao and 49
percent by Starwood. The latter firm's founder, chairman and ceo is highprofile hotelier Sternlicht, the mastermind behind W Hotels whose recent
launches include the 1 Hotels, Baccarat Hotels and Uptown Suites brands in
the U.S., as well as the Principal Hotel Group, a new lifestyle brand in the U.K.
boutiquedesign.com may 2017
(For a detailed look at Sternlicht's accomplishments and ambitions, see the
"Heroes and Mavericks" feature in the June 2016 edition of Boutique Design.)
Kevin Colket, managing director and head of hotels for Asia at Starwood,
says, "We believe that this partnership will benefit from our global investment
expertise and world-class marketing and revenue management capabilities,
together with Shimao's impressive domestic development track record, strong
brand recognition and expansive partner network. As one of the world's fastestgrowing economies, with a large and growing middle class with increasing
disposable income, China represents an exciting market for us, and we are
looking forward to meeting Chinese consumers' rapidly evolving lodging needs
through this partnership."
Tyrone Tang, general manager of Shimao Hotels and Resorts, says, "We believe
that a combination of our strong management and comprehensive understanding
of the Chinese hospitality industry, together with Starwood Capital Group's financial strength and global lodging experience, will create win-win results."
Shimao Hotels and Resorts, a subsidiary of Shimao Property Holdings
Ltd., operates, manages and develops hotels and resorts under the MiniMax
(shown), MiniMax Premier and Yu brands. (The latter encompasses the Yu
Resort, Yuluxe Hotel, Yu Hotel and Yu Residence flags.)
Shimao describes the MiniMax and MiniMax Premier brands as designforward products at two separate but still affordable price points, with a
target audience of Chinese millennials seeking unique lodging experiences.
The upper-upscale Yu brands infuse traditional Chinese elements into stateof-the art accommodations, Shimao says.
C O U R T E S Y O F S H I M AO H O T E L S A N D R E S O R T S
STARWOOD CAPITAL GROUP SETS SIGHTS ON CHINA