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JC Mandarin to reposition into mixed business setup
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The five-star Shanghai JC Mandarin Hotel will suspend operations next year as it repositions itself to offer a mixed business. It denied reports that the hotel would be sold, sources within Jin Jiang Hotels Group said yesterday.
The hotel, opened in 1990, is set to transform into offices, apartments and a boutique hotel under a strategy to integrate assets under the Jin Jiang group, according to Oriental Morning Post, quoting unnamed sources.
The repositioning by changing the hotel’s business model should produce positive results amid rising competition in the hospitality industry, according to analysts.
One of the seven earliest five-star hotels in Shanghai, the ‘‘time-honored’’ 514-room property located next to the Shanghai Exhibition Center on Nanjing Road will operate normally until February.
Earlier, media reports said the Jin Jiang group, which owns 50 percent of the hotel, plans to sell it for 2.06 billion yuan (US$335 million).
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