IHG Partners With Shenzhen Tian An Yuncheng Investment Development Group to Develop VOCO Hotel in Guangdong

United Kingdom, Denham. November 21, 2022

InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, announced a new partnership with Shenzhen Tian An Yuncheng Investment Development Group Co., Ltd to develop the first voco™ hotel in Guangdong province - voco Shenzhen Bantian Cloud Park.

Scheduled to open in 2027, the hotel will be built on Phase 3 of Bantian Tian An Cloud Valley, one of the major platforms along the Guangzhou-Shenzhen Sci-Tech Innovation Corridor. This signing resonates with China's national strategy to develop the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), enhancing IHG's presence in Guangdong and further emphasizing its long-term commitment to the China market.

As one of the first international hotel groups to enter China, IHG has been growing and prospering in the local hotel industry for decades. Greater China is now IHG's fastest-growing market worldwide, with over 1,000 hotels opened and in the pipeline. The company's continued adherence to its "in China, for China" local strategy, with a dedicated attitude amid any headwinds, demonstrates its commitment to the market, carefully upholding national and regional development policies for nearly 50 years. This year, the celebration of IHG's 600th hotel opening milestone in Greater China is strong evidence of the Group's continued investment and sustained development in China.

Jolyon Bulley, Chief Executive Officer, IHG Greater China, said: "Greater China is IHG's second largest market globally and a significant growth engine for the Group. As a role model for MNCs in China, we understand that growth can only flourish through dedication and hard work. IHG has leveraged its in-depth market insights and local operational experience to grow steadily in the China market. With a highly enriched brand matrix, we will continue to innovate to meet consumer demands and provide long-term support for national development plans."

The new voco hotel will be situated at Phase 3 of Bantian Cloud Park - the future China Silicon Valley. Following the "One core, Two Hubs" development strategy, the Park has attracted groups of industry-leading enterprises in the information and communication technology sectors, bringing colossal business and travel accommodation needs. The Park's development has been constructed into six phases as a demonstration project to promote China's industrial transformation and upgrading via urban renewal. The first two stages were completed and gathered nearly 50,000 talents and over 600 outstanding enterprises. Once the project is completed, it is expected to become an industrial-related community to provide one-stop services such as R&D space, resource platforms, and commercial and leisure facilities for enterprises and talents.

Daniel Aylmer, Managing Director, IHG Greater China, remarked: "Rooted in Greater China for 47 years and served mainland market over 38 years, we have closely kept in step with the national strategies and regional policies, including our long-term efforts to hotel development in Shenzhen and Greater Bay Area. So far, 48 IHG hotels have opened, and 49 are in-pipeline in Guangdong Province. Through this strategic signing, we will work closely with Shenzhen Tian An Yuncheng Investment Development Group Co., Ltd to create a reliable and caring guest experience and demonstrate our commitment and confidence in GBA."

The signing of voco Shenzhen Bantian Cloud Park is not the first time that IHG has collaborated with Shenzhen Tian A Yuncheng Investment Development Group Co., Ltd. EVEN Hotels Shenzhen Guangming Cloud Park and Holiday Inn Express Shenzhen Guangming Cloud Park are already in pipeline, which has proved the successful strategic partnership between the two companies.

Yang Yi, Managing Director, Shenzhen Tian An Success Investment Development Group Co., Ltd indicated, "We own a solid foundation of cooperation with IHG. Upon this new signing, both groups will jointly leverage their strengths and resources to create more high-quality hotel projects. Actively respond to the GBA's strategic position as a Quality Living Circle for Living, Working and Travelling, we empower regional and urban development of GBA with win-win principle."

Mr. Kent Sun, Chief Development Officer, IHG Greater China, said: "GBA has unlimited potential for tourism development due to the strong domestic demand derived from the new Dual Circulation strategy and the Culture and Tourism Development Plan for the GBA. GBA has rich culture and tourism resources; meanwhile, as one of the world's top three largest information and communication technology clusters, the development of the Guangzhou-Shenzhen Sci-Tech Innovation Corridor will also bring abundant corporate and MICE (Meetings, Incentives, Conferences & Exhibitions) demands. Voco will continue focusing on conversion opportunities that combine the informality and charm of an independent hotel to achieve comfortable guest experiences. We are also looking forward to cooperating with local owners to bring international services to GBA and further drive hotel industry development."

IHG currently has 12 brands in operation with a footprint in over 200 cities in Greater China. As the first upscale international hotel brand to enter China in the post-COVID-19 era, voco will mainly be present in first- and second-tier cities. IHG created voco with a solution for quick conversion, making it fast and easy for owners of high-quality, independent hotels to become part of IHG's system. Thanks to the reliability, surprising individuality, and quality of the voco brand, combined with the charm and comfort of each hotel, voco hotels around the globe report increased guest satisfaction post-conversion into the IHG system. As the global expansion of voco continues, IHG is tracking well against its growth goal of 200 voco hotels in attractive urban and leisure locations around the globe within 10 years.

Boasting 264 rooms with 4 room types, the voco Shenzhen Bantian Cloud Valley will be strategically located at the beating heart of Phase 3, the Bantian Tian An Cloud Park project, which aims to offer a comfortable stay for guests. Introducing Voco to Guangdong province can bolster IHG's brand portfolio in the region, satisfy the diverse needs of Chinese guests and owners, and boost the GBA's development into a cultural exchange hub and world-class tourism destination.

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