Hyatt enters into strategic development agreement with Tianfu Minyoun
Tianfu Minyoun Hospitality and Hyatt announced that Hyatt and Tianfu Minyoun entered into a strategic development agreement to drive the expansion of Hyatt Place and Hyatt House hotels in China. The franchise agreements for the first three Hyatt-branded hotels under this strategic development agreement were also signed on the same day. As leading hospitality companies in China and the United States, Tianfu Minyoun and Hyatt will bring together their resources and leverage their respective strengths for the development of Hyatt Place and Hyatt House hotels, with plans to bring both brands to more vibrant business and travel destinations throughout China. Under the strategic development agreement, 50 Hyatt Place and Hyatt House hotels are expected to be developed by Tianfu Minyoun and in cooperation with Chinese investors over the next five years, the first of which include Hyatt Place Nanchong Gaoping, Hyatt Place Changchun Jingyue and Hyatt House Changchun Jingyue. The three hotels will be operated and managed by Tianfu Minyoun. Additionally, Tianfu Minyoun is also planning to develop hotels under The Unbound Collection by Hyatt and Hyatt Centric brands in unique and attractive destinations across China. Once open, these hotels will be part of Hyatt's loyalty program, World of Hyatt. Guests will be able to earn World of Hyatt points and redeem for free night awards and access many other benefits at Hyatt locations worldwide.