Shanghai (TAN): American luxury hospitality major Hyatt Hotels Corporation has launched a new brand ‘UrCove’, in partnership with Chinese hotel company BTG Homeinns Hotels Group.
Pronounced as “your cove”, UrCove is a metaphor for a safe harbor for a boat in the ocean, as the brand ‘aims to provide a cozy sanctuary for travelers to recharge with excellent quality and care backed by Hyatt’, the company said.
Stephen Ho, President of Greater China, global operations, Hyatt said: “As we commemorate our 50th year in Asia Pacific and Greater China region, we are committed to maximizing our core business to drive purposeful growth and cater to the high end travelers of every segment we serve.”
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Part of a joint venture between the two firms, the totally homegrown brand UrCove will specifically cater to China’s currently underserved upper-midscale segment. According to data from China’s Ministry of Culture and Tourism, revenue from domestic tourism went up 13 per cent in 2018, translating to a revenue of CNY 5.05 trillion. The travel and hospitality market will grow in the long-term driven by a growing middle-class population and a government policy to push domestic consumption.
“Given China’s growing economic importance and the phenomenal growth of its middle-class segment, the UrCove brand strengthens our representation in the underserved upper-midscale segment, and we believe that this locally developed brand will advance our commitment to this important market,” Ho added.
UrCove hotels are aimed at serving the frequent business travellers in the upper-midscale segment, called the ‘Road Warriors’ who look for efficient hospitality but lack options to choose from.
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“We are one step closer to fulfilling our commitment to elevate the business travel experience of the growing upper-midscale segment,” General Manager of BTG Homeinns Hotels Group, Chairman and Chief Executive Officer of Homeinns Hotel Group, David Sun, said.
He added: “The UrCove brand is designed to better serve local consumers. By combining our extensive knowledge and vast network of the local market with Hyatt’s experience in premium care and hospitality, we are on track towards setting a new benchmark for hospitality in China.”
The first two UrCove hotels could open in Shanghai and Beijing by late 2020.
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