Hotel Shilla plans to build a hotel in Xian ― a cultural, industrial and educational center in northwest China ― in its latest move to expand its business in the country, the company said.
It is planning to sign a consignment management agreement with a local company to run a hotel business, it said on Monday. The Samsung Group affiliate is currently operating a hotel under its brand in Suzhou, eastern China.
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| Hotel Shilla CEO Lee Boo-jin. (Yonhap) |
“We do not know whether it’s going to be a business hotel or a five-star hotel. We’re still discussing and nothing has been fixed so far,” a company official said.
In December, Hotel Shilla CEO Lee Boo-jin visited Xian and met Mayor Dong Jun and Shaanxi province Gov. Lou Qinjian to discuss business partnerships.
Local reports said the company will likely kick off preparations for the business within this year, in time for the completion of Samsung Electronics’ NAND flash memory manufacturing facility in the area.
“About 500 South Koreans are expected to work in the facility, raising the hotel’s business value,” a Samsung official was quoted as saying.
Hotel Shilla has recently been increasing its presence in China. In January, Lee was appointed an outside director of China’s state-run investment firm CITIC Group.
By Suk Gee-hyun (monicasuk@heraldcorp.com)
