Atlanta-based America’s Best Franchising Incorporated continues its aggressive international expansion with the signing of a new master licensee for three of the company’s hotel brands in China.
Golden Wisdom Management Consulting Ltd. of Beijing has become the licensee for 3 Palms Hotels & Resorts, Parkside Hotels & Resorts, and Budgetel Inns & Suites under a multi-year agreement that spans 45 years – an initial 25-year term and four extensions of five years each. In addition, the company has exclusive rights to introduce a new 5 Palms brand in China as an ultra-luxurious version of the existing upscale 3 Palms name.
“China is one of the biggest growth markets in global tourism for three reasons – a more affluent middle class, massive government investment in transportation infrastructure, and an easing of travel restrictions for both residents and foreign visitors,” explains Doug Collins, Chairman and CEO of America’s Best Franchising.
This travel boom is reflected in Golden Wisdom’s development plans, which call for at least 15 new properties to be opened every year, according to the company’s CEO Liu Xiaodong.
“There are four times more people in China than in the United States, so the potential hotel market in our country is very large,” says Jenny Jiangling, Deputy President of Golden Wisdom Management Consulting. “This agreement provides our company with an excellent group of brands for growth and for service to travelers.”
Adds Collins, “We certainly expect Golden Wisdom to be a significant partner as it quickly grows its hotel operations in China,”
America’s Best Franchising already operates two properties in China through an existing licensee. One hotel is a Budgetel Inn and the other is an America’s Best Inn & Suites; both are located in Yiwu, which is about 190 miles southwest of Shanghai. Another America’s Best Inn is scheduled to open this fall in Wuxi, which is also near Shanghai.
Currently, America’s Best Franchising has more than 300 properties in almost 20 countries. Its family of brands includes the upscale 3 Palms name plus five flags which are known as upper economy in the United States but are often rated higher in foreign countries – America’s Best Inns, Budgetel Inns, Country Hearth Inns, Parkside Inns, and Vagabond Inns.
