China: Oakwood Worldwide is celebrating the 15th anniversary of its entry in to the Chinese market.
When the company took over the management of Oakwood Gold Arch Residence Guangzhou in April 2000, it was the first internationally branded serviced apartment development in Guangzhou.
“We are thrilled to be marking this milestone in our journey in China,” said Dean Schreiber, managing director, Oakwood Asia Pacific Ltd. “From our beginnings in Guangzhou 15 years ago, Oakwood has deepened its roots and today we manage seven properties in Beijing, Chengdu, Guangzhou, Hangzhou, Hong Kong and Shanghai. Growing our presence in China has been and remains a key priority for Oakwood. We have projects in various stages of development in cities across China including Beijing, Chengdu, Suzhou and Sanya, and are committed to growing an additional 1,988 units to our inventory in the next five years.”
Martin Fluck, director of operations, North Asia, added: “Demand for serviced apartments has grown dramatically since we first opened, and especially in the past 10 years. This is fuelled by gradually improving product knowledge, understanding of the benefits of serviced apartments amongst corporates, improving standards of apartment brought on by the arrival of brands such as ourselves into the sector.”
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