China’s Dalian Wanda Group is accelerating its expansion into the luxury hotel business with plans to become the world’s largest 5-star hotel owner in 2015.
Wanda Hotels & Resorts, a wholly owned subsidiary of Dalian Wanda Group, announced that it will build new hotels at 100 Chinese tourist destinations by 2015 to become the world’s largest 5-star hotel owner.
By the end of 2018, the company plans to own more than 150 luxury hotels in China, Europe, the United States and Australia.
Wanda Hotels & Resorts was founded in 2012 with the goal of becoming China’s preeminent global luxury hotel brand. It owns and manages hotels under three names: Wanda Realm, Wanda Vista, and Wanda Reign. By the end of 2014, the company will own 71 luxury hotels in China.
Read more at Want China Times.