Rosewood Shanghai to Break Ground in 2022

China, Hong Kong. August 05, 2020

Rosewood Hotels & Resorts® has been appointed by Shanghai-based property development company, Lonsen Land Group, to manage Rosewood Shanghai, a new hotel in mainland China set to break ground in 2022, with an expected opening in 2028. Ideally situated in the heart of Shanghai's Jing'An District and Suhewan area, an emerging business and cultural hub, Rosewood Shanghai will offer travelers unparalleled access to the city. The announcement of Rosewood Shanghai underscores the brand's careful, selective growth strategy in Asia and across the globe, as well as the strength of its impressive property pipeline, which is now the most robust in Rosewood's history.

Occupying prime real estate within a mixed-use project designed by renowned international studio Foster + Partners, Rosewood Shanghai is set to transform the city skyline. Occupying the top floors of the site's landmark building, which will be one of the tallest complexes in the city's Puxi district at 320 meters, the hotel will deliver unique design conceived to showcase its expansive views of the metropolis. In keeping with the brand's guiding A Sense of Place® philosophy, the destination's storied history, rich culture and dynamic spirit will serve as additional inspiration for the property's design ethos and bespoke programming.

"As we continue to grow the brand throughout Asia and specifically mainland China, Shanghai has long been a priority destination in which to plant the Rosewood flag," said Sonia Cheng, chief executive officer of Rosewood Hotel Group. "The country's largest city and economic hub, Shanghai embodies several of our key brand values - innovation, creativity and originality. We are thrilled to bring a new standard of luxury to the region and thank our partners at Lonsen Land Group for the opportunity they've given us to do so."

Rosewood Shanghai will offer 200 guestrooms and suites, five food and beverage establishments and Asaya, Rosewood Hotels & Resorts' revolutionary wellness concept.

"For many, Shanghai is known as "Mo Du", the Magic City; cherished for its rich cultural heritage, modern lifestyle offerings and captivating social scenes," says Mr Ruan Xingxiang, chairman of Lonsen Land Group. "With the brand's A Sense of Place® philosophy and referencing to the success story of its trophy property in Hong Kong, Rosewood Hotels & Resorts makes an ideal partner of us to reinvent Shanghai's charm as a destination to the affluential explorers from around the world."

Rosewood Shanghai will join Rosewood's collection of distinguished city and resort properties in Greater China, which currently includes Rosewood Hong Kong, Rosewood Beijing, Rosewood Sanya and Rosewood Guangzhou. Additional projects in development in the region include Rosewood Chengdu and Rosewood Ningbo, both set to open in 2023, along with Rosewood Shenzhen and Rosewood Taipei, which are planned to open in 2024.

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Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.