Chinese Hospitality Goes Global: GreenTree hospitality group acquires Argyle

World
Europe

02:20

China's middle class is on the rise, and a leading Chinese hotel chain named GreenTree is acquiring an Australian hospitality group in an effort to please them. The group has previously pioneered high-end hotels in smaller Chinese cities and the merger aims to expand hotels across China and Asia. Nathan King has more.

In the heart of New York, a Chinese success story. Two hotel chains, GreenTree and Argyle, cementing their merger at the heart of global capitalism.

The new GreenTree Hospitality Group will focus their attention on expansion in China and Asia as Asia's growing middle class calls for world-class accommodations.

Ahead of the merger, I caught up with Argyle Founder Kevin Zhang at his office in Beijing.

"So that is our first one and it's still there."

Zhang bet big on opening international standard hotels in some of less developed provinces like Guizhou and Sichuan- now those provinces are top destinations for Chinese and international travelers.

KEVIN ZHANG, FOUNDER ARGYLE GROUP "It's the best holiday destination a new and emerging holiday destination and another thing is that ten or fifteen or twenty years ago, it was quite underdeveloped, so the GDP of the last two years is one of the most fast-growing region."

Under the new company, Kevin will remain at the helm of Argyle, spreading further into China, but also South East Asia and beyond.

Kevin Zhang is also an ambassador for China's growth story in the region. A naturalized Australian citizen, he advises the Australian government on exports in the service sector. Zhang sees himself as an intermediary between Canberra and Beijing.

KEVIN ZHANG, FOUNDER ARGYLE GROUP "I try my best to promote the business between Australia and China. I think I'm some ways the messenger to convey a kind of positive voice."

So next time, when you travel in Sichuan, Guizhou, or even Thailand, you could find yourself staying in a Green Tree or Argyle hotel, the company that goes big on China's growth and it is ripping the dividends. Nathan King, CGTN.