Minor Hotels Announces Strategic Partnership with Funyard Hotels & Resorts

Bangkok, June 29, 2021 Minor Hotels and China's Funyard HotelsandResorts have announced the establishment of a hotel management joint venture agreement that will oversee business development, hotel operations, as well as the sales and marketing functions of seven Minor Hotels brands in China. The announcement follows the signing of a Memorandum of Understanding (MoU) between the two groups in January 2021 and officially comes into force on June 29, 2021.

As a world leader in experiential luxury travel, Minor Hotels is expanding in the Chinese market at a crucial time, ensuring that the joint venture is offering a new kind of sophisticated product to meet the evolving needs of the domestic traveller. Owing to the breadth and depth of Minor's portfolio, the new business entity with Funyard HotelsandResorts is uniquely placed to offer a wide variety of products, ranging from classic luxury to serviced apartments to experiential brands, each time creating a personalised product for a specific consumer niche.

Among the brands that Minor Hotels is planning to bring to China as part of the partnership are the Millennial-minded Avani; design-centric nhow; NH Collection with its unique brand of eclectic elegance in landmark buildings; and Oaks, a serviced apartment and resort accommodation chain predominantly operating in Australia and New Zealand. Oaks will debut in China with the opening of a property in Hangzhou.

The timing of the announcement couldnt have been more auspicious with 2021 marking the start of Chinas 14th Five-Year Plan that prioritises the development of high-quality hospitality and tourism market. As the world is emerging from the pandemic, Chinese customers are increasingly seeking more meaningful experiences, whether they are wellness, family-focused or built around sustainable engagement with nature.

Bangkok-headquartered Minor Hotels is one of the top 20 largest hotels companies with more than 540 properties globally. The group's portfolio of luxury brands includes the home-grown, experience-centric Anantara; Tivoli, a heritage European brand dating to 1933 and offering comfortable luxury at the most prestigious addresses across Europe; and the renowned Spanish hotel brands NH Collection, NH and nhow. Anantara already has a Chinese presence, in Xishuangbanna, Yunnan and Guiyang, Guizhou, with Chengdu Tivoli in the final stages of pre-opening.

Commenting on the announcement, Dillip Rajakarier, CEO of Minor Hotels, said:"Growing our presence in China has always been one of the top priorities for Minor Hotels. The strategic partnership with Funyard Hotels Resorts is the perfect opportunity for us to bring quality hotel experiences and exclusive lifestyle products to Chinese consumers just in time for the post-epidemic travel boom. We look forward to creating outstanding travel experiences across China together."

Mr. Ji Hongjun, President of Funyard Hotels Resorts Group, remarked:"We were quick to notice a growing demand for high-quality hospitality and tourism projects, with Chinese consumers increasingly expecting a more personalised experience. To successfully meet the demands of China's modern-day traveller, the hotel sector must diversify its market segmentation by offering a wider choice of brands. As Minors brands originate in parts of the world as diverse as Asia, Europe and Australia, they each offer unique positioning, brand concept and core values, which makes the group the perfect partner to deliver on our joint vision."

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About Minor Hotels

Minor Hotels is an international hotel owner, operator and investor, currently with over 540 hotels in operation. Minor Hotels passionately explores new possibilities in hospitality with a diverse portfolio of properties designed intelligently to appeal to different kinds of travellers, serving new passions as well as personal needs. Through our Anantara, Avani, Oaks, Tivoli, M Collection, NH Collection, NH, nhow, Elewana, Marriott, Four Seasons, St. Regis, Radisson Blu and Minor International properties, Minor Hotels operates in 56 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South America and North America.

With dynamic plans to expand existing brands and explore strategic acquisitions throughout opportunistic markets, Minor Hotels pursues a vision of a more passionate and interconnected world.

For more information, please visitwww.minorhotels.com.

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About Funyard Hotels Resorts

Funyard Hotels Resorts is a core alliance enterprise of Country Garden, a Fortune Global 500 company. Currently managing more than 200 upscale hotels, it provides operations and asset management services and boasts about 50,000 guestrooms. It operates and manages a total of ten hotel and serviced apartment brands such as Funyard, Funyard Ligh Fashion, BlessFun, FunyardBilan, FunyardFengyi, Country Garden Phoenix, Holiday Islands, Fengqi, Home2 Suites by Hilton, and Oakwood Belux. The group provides whole-lifecycle asset management services covering investment, financing, building, management, and exit.