Wharf Hotels, the hospitality business of property developer Wharf Holdings, is planning to open more hotels in China and international markets, reported South China Morning Post.
Wharf owns brands such as Niccolo, Marco Polo, and Maqo.
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Niccolo is a luxury brand, Marco Polo is an upper-middle-range brand and Maqo is a premium lifestyle brand.
The hotel company’s plans are driven by a rebound in tourism due to the reopening of the Chinese market in Q1 2023 following the Covid-19 pandemic, and an expanding middle class.
Niccolo plans to open new hotels in mainland China, Japan, and Thailand. It is currently holding talks with potential partners for the new openings in these markets.
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Details regarding the location and timelines of these openings have not been disclosed, reported the publication.
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By GlobalDataWharf Group chairman and managing director Stephen Ng said: “Niccolo has been very successful in the mainland market and has the potential to become a bigger brand.
“Maqo is, of course, new, but our research indicates Changsha would be a good market to launch this new brand from.
“Both brands are ‘Made in China’ and we hope to take them overseas when we are more ready.”
In September 2023, Wharf Hotels announced plans to open 25 Maqo hotels by 2025. This plan began with the opening of a Maqo hotel in Changsha, China, last month.
Hotels in the country stood to benefit from an increase in travel during holidays such as Labour Day in May and National Day in October. Due to the rise in demand, hotels have increased their prices, with more than ten times the usual rate in some cases.
Out of the 19 tourism-associated companies listed on mainland Chinese stock exchanges, 15 posted a financial turnaround, as per their latest interim reports.
