Super 8 China Exceeds Development Goal For Second Year
BEIJING (Tuesday, December 12, 2006) - Super 8 Hotels (China) Co. Ltd. today announced that it has exceeded its 2006 development projection of 100 properties either open or signed by year end by 10 percent – the second consecutive year the company has exceeded its development goals – due to continued strong growth in domestic demand for branded economy lodging in China. Super 8 Hotels (China) has 110 properties either open or signed in 58 cities across China, of which 32 are open and operating. In addition, the company announced it will open three properties this month, including Beijing Fangzhuang Yi Ma Super 8 Hotel, Chuzhou Sitailou Super 8 Hotel, and Hohhot Yiju Super 8 Hotel. Mitchell A. Presnick, Super 8 Hotels (China) chairman and chief executive officer, said he is "very satisfied" with his company's development progress in 2006 and thanked his business partners, employees, industry and government friends and guests. "We operate under the ideals of quality, value, and international operations excellence," he said. "Our mission since 1974 has been to provide the Super 8® brand's 'Clean and Friendly' experience to our guests. "As an American brand, we hope to continue learning from the domestic economy hotel sector and to contribute positively to the stable development of the Chinese economy hotel industry." Super 8 Hotels (China), through its parent company Tian Rui Hotel Investment Corporation, is licensed by Wyndham Worldwide Corporation (NYSE: WYN) of Parsippany, N.J., to develop the Super 8 brand in China. Presnick noted that his company "strongly supports the success of the 2008 Beijing Olympics." Fang Guofan, Super 8 Hotels (China) senior vice president, said his company has hotels properties open or under construction "in all four corners and eight directions of China's vast geography. "Based on our current pipeline of signed deals, our guests will be able to enjoy 'Clean and Friendly' Super 8 hotels in China's east, west, north and south, from Beijing to Urumqi, Hohhot to Shenzhen, Lijiang to Shanghai, Shenyang to Xiamen and many places in between".
The Super 8 brand, one of 10 lodging brands franchised by Wyndham Worldwide (NYSE: WYN), entered China in April 2004. The Super 8 brand is operated in China under license agreement with Tian Rui Hotel Investment Corporation, master licensee for the Super 8 brand for the Territory of China, including Hong Kong SAR and Macao SAR.
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