Ascott China And Jin Jiang Hotels (China Region) Join Forces To Accelerate Asset-light Expansion Of Apartment Hotel Brands Quest And Tulip Lodj
Partnership is unveiled at the Ascott Unlimited Global Marquee Event during ITB Asia 2024, capping off a year-long campaign celebrating Ascott’s 40th anniversary
The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), is pleased to announce that Ascott China has entered a 50:50 joint venture with Jin Jiang Hotels (China Region) to advance the asset-light expansion of their respective apartment hotel brands in China, namely Ascott’s Quest and Jin Jiang Hotels’ TULIP LODJ. Using primarily a franchise model, the joint venture will enable the rapid growth of Quest and TULIP LODJ to meet China’s underserved demand for apartment hotels in the upscale and upper midscale segments, while driving long-term investment success for owners. From the outset, the joint venture company will manage two operating properties in Wuhan and one pipeline property in Shenzhen franchised under TULIP LODJ, totalling about 600 units. Plans are underway to broaden the footprint of TULIP LODJ and launch Quest in China by providing opportunities for franchised partnerships.
Jin Jiang is China’s largest and the world’s second largest hotel group[1] with about 13,250 operating hotels, over 1.34 million rooms and nearly 200 million loyalty members. The joint venture represents a win-win collaboration between Ascott China and Jin Jiang Hotels (China Region) to tap the vast potential of the country’s hotel franchise industry. It will leverage Jin Jiang Hotels’ franchise-ready infrastructure comprising strong local teams and robust supply chains across the country to rapidly launch the Quest brand and provide strong support for its future expansion. In parallel, the collaboration will build on Ascott’s years of in-depth experience operating international-class serviced residences to develop TULIP LODJ into a high-quality apartment hotel brand. Properties under the joint venture will join the distribution networks and loyalty programmes of both Ascott and Jin Jiang Hotels. Guests who are members of both Ascott Star Rewards and Jin Jiang Rewards will enjoy the flexibility to earn and redeem points with either programme when booking stays at Quest and TULIP LODJ in China.
This strategic partnership is unveiled at the Ascott Unlimited Global Marquee Event during ITB Asia 2024, marking the culmination of Ascott’s year-long campaign celebrating 40 years of hospitality excellence. The event is attended by about 300 guests with Mr Alvin Tan, Singapore’s Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, in attendance as the Guest-of-Honour.
2024 has been a groundbreaking year as we mark Ascott’s 40th anniversary. From record signings in key markets like Europe and Southeast Asia to being named the Official Global Hotels Partner of Chelsea Football Club, every milestone underscores Ascott’s innovative spirit and commitment to growth through our distinctive flex-hybrid hotel-in-residence model. As we conclude our year-long Ascott Unlimited campaign with the Global Marquee Event, we are delighted to announce a new partnership with Jin Jiang Hotels. The collaboration will accelerate our asset-light expansion in China by leveraging Jin Jiang’s franchise-ready infrastructure, complementing our successful management strategy in the market where we currently operate more than 220 properties in over 40 cities. With 90% of Ascott's global portfolio already operating under management and franchise agreements, we remain focused on advancing our asset-light strategy for further growth. Quest is the leading apartment hotel brand in Australasia, and we see tremendous potential in extending its success to China as the country’s hotel franchising industry continues to mature. Recent research[2] indicates that 68% of new hotel signings in China in the first half of 2024 are franchise contracts – up from 61% a year ago and surpassing the average of 62% in regions outside the Americas. Our plans to establish Quest’s brand presence in China align with our overall growth strategy and reinforce our commitment to maximising the value of Ascott’s acquisition of this esteemed brand. Mr Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging
Bleisure travel is thriving in China as professionals seek the ideal blend of work and leisure, creating a vibrant demand for apartment hotels. Quest is poised to meet this need with its signature spacious and convenient accommodations designed for business travellers and families alike. Lauded as Australasia's largest apartment hotel brand with over 160 properties across Australia, New Zealand, Fiji and the United Kingdom, we see significant promise in extending the brand influence of Quest to China. Leveraging our complementary strengths with Jin Jiang Hotels, we are confident that the joint venture will serve as an excellent platform for local owners to access one of Ascott’s iconic brands and bring it to their respective locations. We will work closely with Jin Jiang Hotels to develop supportive frameworks and effective commercial strategies to power the success of Quest and TULIP LODJ owners in China. Mr Lee Ngor Houai, Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascot
We are pleased to collaborate with Ascott to create more flagship apartment hotel properties in China that combine the best qualities of hotels and serviced apartments. By bringing TULIP LODJ into the joint venture, we aim to propel the development of this unique social living concept that blends the rich cultures of China and France. As franchising becomes an increasingly important business model in China’s hospitality industry, the joint venture is well-positioned to leverage the established franchise capabilities of both Ascott and Jin Jiang Hotels to fuel new growth. Harnessing our respective strengths through this partnership, we look forward to helping both TULIP LODJ and Quest achieve significant growth in property numbers and brand influence in China, and providing guests with diverse, high-quality stay experiences. Ms Wang Wei, Chief Executive Officer, Jin Jiang Hotels (China Region)
Quest brand in China
The Quest brand in China seeks to serve as a second home and an ideal workspace for guests, accommodating both long-term and short-term stays. Quest properties in China will highlight the brand’s signature neutral tones and bleisure design style, reflecting the understated elegance of urban hotels while also enhancing its features to align with current Chinese lifestyles.
The Quest show room in Shanghai showcases functional areas, including the bedroom, living area, bathroom and balcony, designed to seamlessly integrate and meet the needs of the Chinese market.
Quest in China employs modular and quick-installation techniques for various aspects, including wall materials, furniture and storage solutions, enabling precise cost control while allowing owners to choose the configurations based on their needs, whether for new build or conversion projects.
Quest properties will feature amenities such as fitness centres and meeting rooms, alongside services like regular room cleaning, laundry assistance and reservations at local restaurants. The brand’s signature blend of the comforts of home and the service of a hotel helps guests feel at home, appealing to travellers staying for days, weeks, or even months. Each Quest property in China will be locally owned and managed, allowing guests to immerse themselves in the local way of life and enjoy a comfortable stay.
TULIP LODJ in China
TULIP LODJ is an apartment hotel brand with a unique Franco-Chinese heritage. Originating from the French Louvre Hotels Group, it primarily targets travellers who appreciate the comforts of home while exploring new destinations. After Jin Jiang Hotels acquired the Louvre Hotels Group, the brand was officially introduced to the Chinese market, with Jin Jiang Hotels (China Region) authorised to expand and manage its operations.
Recognising the increasingly diverse lifestyles and preferences of China’s younger generation who place a high value on digital experiences, TULIP LODJ has focused its product design on the concept of creating an Urban Creative Home. This approach caters to urban professionals, young creatives, overseas returnees and pet lovers, offering a rich variety of experiences and a digital lifestyle that resonates with these city dwellers.
In November 2023, TULIP LODJ opened its first location in Wuhan featuring a high-quality, social living apartment hotel concept. The property fills a gap in the local market for mid-to-high-end accommodation, achieving several consecutive days of full occupancy during its first month. To date, the property has maintained an occupancy rate of over 90%.
The Jinma Tower, where the property is located, is part of a key urban renewal initiative supported by the local government, making TULIP LODJ a prime example of how Jin Jiang Hotels (China Region) is revitalising existing assets and promoting sustainable development. Currently, TULIP LODJ operates two properties in Wuhan – TULIP LODJ Wuhan Wusheng Road and TULIP LODJ Wuhan Fanhai CBD. Another project in Shenzhen, TULIP LODJ Lido Residence Shenzhen Nanshan, is set to open by early 2025.
