Management firm Richfield Hospitality has signed a deal to form Richfield Hospitality China, a joint venture with a Shanghai-based ownership group to operate hotels in China.
The new company has signed agreements to form a joint venture with a Shanghai-based group, whose name is yet to be disclosed. The venture will manage two extended stay hotels, including the Suisse Place Ligongdi Suzhou (pictured above), and has six additional contracts in the final approval stages.“China’s expanding middle class has created incredible opportunity for experienced hotel operators,” said Greg Mount, president of Richfield Hospitality. “I am confident that local ownership coupled with our operational expertise will enable us to offer hotel owners a compelling management alternative.”By expanding globally as well as domestically, Richfield remains on track to reach its objective of 60 managed hotels by December of 2015. The company's portfolio currently includes 29 hotels.
