
After partnering with several international groups to develop hotels in China, the leading property developer in the country has announced the construction of a luxury hotel in London.
Dalian Wanda Group, the leading real estate developer in China, plans to expand its international business and has announced the construction of a luxury hotel in the city of London. Representing a total investment of 700 million pounds, the facility will be operated under the Wanda hotel brand. Wang Jianlin, chairman of the group, also announced another luxury hotel project for New York City. In the longer term, the group's objective is to develop the Wanda brand in eight to ten major cities worldwide over the next decade. The willingness of Dalian Wanda Group to expand internationally is not new, since the group has already signed several partnerships with players in global hospitality such as Accor, Starwood Hotels & Resorts Worldwide and Hilton Worldwide.
