Hyatt and BTG Homeinns Hotels Group, which entered into a strategic joint venture in February, have unveiled a new hospitality brand targeting China’s growing but underserved upper-midscale segment.
Developed as an entirely homegrown brand, UrCove (pronounced as ‚Äúyour cove‚ÄĚ) will be built specifically to meet Chinese travellers‚Äô preferences. According to both partners, the brand is also envisioned to cater to China’s swelling ranks of ‘road warriors’, as business travellers in the country currently sees limited opportunities to experience comfortable travel especially at the upper-midscale segment.
‚ÄúGiven China‚Äôs 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,” said Stephen Ho, president of Greater China, global operations, Hyatt.
‚ÄúWe are one step closer to fulfilling our commitment to elevate the business travel experience of the growing upper-midscale segment,‚ÄĚ said David Sun, general manager of BTG Homeinns Hotels Group, chairman & CEO of Homeinns Hotel Group.
UrCove hotels will be located in highly accessible locations in gateway cities, offering functional business space, practical amenities and extensive F&B options. The first two UrCove hotels are expected to open in Shanghai and Beijing by late 2020.