Park Avenue Hospitality has expanded its global footprint in mainland China with an asset light strategy under two signed agreements on 1 September 2021 in Yancheng, which includes the country's first Grand ParcVue Hotel Residence in China.
Opening under a management contract with Yancheng Shuangcheng Property Development, the 194-room Grand ParcVue Hotel Residence Yancheng will be a luxury internationally branded hotel in the southern business district. Set to welcome its first guests in early 2024, it is conveniently accessible to the transportation hubs, including high-speed rail and an international airport.
The group has further strengthened its position with a management contract with Yancheng Cultural Tourism Investment Development Company Limited. The upcoming boutique hotel, Yancheng Huatong, has 49 exquisite guestrooms and will be located in a historical building in Yancheng's Tinghu District. The opening date for the boutique hotel has yet to be finalised.