HONG KONG, Aug. 16, 2016 — Lanson Place Hospitality Management Limited ("Lanson Place" or the "Company"), a wholly-owned subsidiary of Wing Tai Properties Limited (HKEx stock code: 369) is pleased to announce that it has signed a new management contract with Guangzhou R&F Properties Company Limited ("R&F", HKEx stock code: 2777) to operate the new Lanson Place Tianfu Square Serviced Residences in Chengdu R&F Centre. This marks Lanson Place's first property in western China and its 11th property.
R&F was founded in 1994 and is a leading comprehensive property developer in China today. Its major focus is on property design, development, construction and management service. It is the first mainland property developer to be included as a constituent member of the Hang Seng China Properties Index, attributing to its successful debut listing on the Hong Kong Stock Exchange. Aside from real estate, R&F also has a strong presence in the hospitality industry, owning an extensive portfolio of hotels under major groups such as Hyatt, Marriott, The Ritz-Carlton, InterContinental, Hilton, etc.
Lanson Place Tianfu Square Serviced Residences is in Chengdu's well-acclaimed financial centre, Luomashi precinct. Only minutes away from the Luomashi Metro Station, the property presents an ideal choice for guests pursuing quick accessibility, residential comfort, personalized service and a vibrant urban lifestyle. It is also in close proximity to major events venue Chengdu Sports Centre, and within arm's reach are also two prime retail clusters, Chunxi Road-Yanshikou and Hongxing Road-Daci Temple. The property offers 162 units of spacious apartments ranging from one-bedroom to penthouse suites, which cater to the diverse and rising business travellers demand in Chengdu. It is targeted to open in late 2016.
Mr. Liu Yong Jin, President of R&F Properties Group Chengdu Company, said, "As another premium hospitality brand following the opening of The Ritz-Carlton, Chengdu, the new project with Lanson Place will bring to life an outstanding Serviced Residence in sheer elegance, modern luxury and home comfort. Located strategically within the heart of Chengdu, the project will revitalize the district by creating a genuine expatriate community with refined lifestyle, along with its nearby facilities and retail mall. We strongly believe that our partnership with Lanson Place will assure an affirmative growth for both companies."
Mr. Marc Hediger, Chief Executive Officer of Lanson Place, said, "We are delighted to join hands with R&F in expanding our presence into Chengdu and introducing Lanson Place's contemporary lifestyle. With the increasing prominence of the finance industry and an influx of multi-national corporations into the city, we see an emerging demand for high-end Serviced Residences. Combined with R&F's expertise and riding on our unparalleled services, we are able to maximize the asset value for property owners and cultivate an enhanced neighborhood for guests. We look forward to having more opportunities to work with R&F in major cities of China."
