Rosewood Hotels & Resorts Plans Rosewood Ningbo Set for 2024 Opening in the Innovation Hub of China

China, Hong Kong. May 20, 2019

Rosewood Hotels & Resorts® continues its strategic growth in China with the announcement of Rosewood Ningbo opening in 2024. This latest project adds to Rosewood's growing pipeline in China's megacities including Guangzhou, Shanghai, Chengdu and Shenzhen, further expanding the brand's established presence in Beijing, Sanya and the recently opened Rosewood Hong Kong.

Rosewood Ningbo is an example of the brand's selective approach to strategic growth with unique and highly differentiated projects in locations that are finely attuned to the next generation of ultra-luxury travelers. One of China's oldest cities, Ningbo has both a storied international trading history and a contemporary culture of dynamic innovation that combined provide a perfect backdrop for Rosewood's newest project.

"Ningbo is a vibrant city attracting a growing wave of young entrepreneurs and technology companies and is at the heart of innovation in China," says Sonia Cheng, chief executive officer of Rosewood Hotel Group. "Combined with its rich history, the destination makes an ideal choice for Rosewood's growing presence in China. Rosewood Ningbo will join its sister properties across China to create a rich collection of distinct and unique properties for our affluential explorer guests to access the rich diversity of China's local cultures."

Rosewood Ningbo will be the main anchor of the integrated property complex Ningbo New World Plaza, a CNY15 billion worth project encompassing 100,000 square meters, in the city's central business district of Sanjiangkou (Three Rivers Junction), owned by New World China Land. Developed in three phases, Ningbo New World Plaza will comprise Rosewood Ningbo, the latest K11 Art Mall, K11 Atelier offices, high-end residences and the first art park in the city.

Rosewood Ningbo will be ideally situated at the city's junction of three major rivers and two prominent commercial axes, at the intersection of Zhongshan Road East and Jiangdong Road North. The area will be a new green landmark for the city with Ningbo New World Plaza designed as an eco-friendly environment with key sustainable concepts, including a bio-retention pond, a rain-water garden, permeable pavements and ecological rooftops.

Within walking distance from the hotel, guests will be able to access Ningbo's bustling city life at the adjacent commercial districts of Heyi Avenue and the shopping area of Tianyi Square, with its multiple entertainment and dining venues. Rosewood Ningbo will be a perfect springboard from which to experience the city's many historical attractions, such as Chenghuang Temple, Baoguo Temple, Tianfeng Pagoda and Tianyi Pavilion.

Rosewood Ningbo will occupy levels 43-56 of a striking mixed-use high-rise tower. The hotel's 185 guestrooms and 15 oversized suites will feature unobstructed views of the urban landscape.

Complementing the hotel's guestrooms, generous and versatile spaces for meetings and events will be a hallmark of Rosewood Ningbo, including a 1,125-square-meter grand ballroom and other meeting facilities totaling an additional 1,055 square meters. Five innovative food and beverage venues promise an exciting addition to the dynamic local gastronomical landscape. The hotel will also feature Sense, A Rosewood Spa, an urban haven to unwind from the hustle and bustle of the city, on the 55th floor. An indoor pool and a fitness center will complete this sanctuary of wellness for holidaymakers and business travelers alike.

Rosewood Ningbo will join a growing collection of distinctive Rosewood properties in Asia including Rosewood Phnom Penh, Rosewood Bangkok, Rosewood Phuket and Rosewood Luang Prabang. Upcoming locations include Taipei, Yangon, and Hermana Mayor (Philippines.)

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.