The Hunan Hotel and Tourism Development Group Co., Ltd. was founded in Changsha on November 3, 2021. Chen Fei, vice governor and secretary of the CPC Committee of the State-owned Assets Supervision and Administration Commission of the Hunan Provincial People’s Government (Hunan SASAC), attended the inauguration ceremony.

The hotel and tourism group was approved by the Hunan Provincial People’s Government, and the Hunan SASAC will perform the responsibilities of the investor. It is a provincial hotel and tourism enterprise established on the basis of relevant provincial hotels and the assets of tourism, intangible cultural heritage, and others. It aims to achieve professional integration, market-oriented reforms, and brand building through industrial coordination. This is of great strategic significance for injecting new momentum into the economic and social development of Hunan province; serving the implementation of the Three Highlands and Four New Missions Strategy; optimizing the distribution of provincial state-owned capital; integrating Hunan's tourism resources; and, building Hunan into a tourism powerhouse.

The group now includes such member enterprises：Huatian Hotel Group, Hunan Xiangtou Yangguang Group, Shaoshan Tourism Development Group, Hunan Tourism Development Co., Ltd., Hunan Embroidery Research Institute Co., Ltd., Hunan Arts and Crafts Museum, and other subordinate enterprises. It will build a “troika” business structure integrating hotel, tourism, investment and financing industries; implement “asset-light” operation mode in hotel industry; expand red, green, and antique tourism; actively and steadily carry out related investment and financing businesses; and, strive to enter the national top 20 tourism companies by the end of the “14th Five-Year Plan” period.

The Hunan Hotel and Tourism Development Group Co., Ltd. signed respectively the strategic cooperation agreements with the Hunan Branch of the Industrial and Commercial Bank of China, the Hunan Branch of the Agricultural Bank of China, the Hunan Branch of the China Construction Bank, and other units, to join forces and stimulate advantages to build Hunan into a tourism powerhouse.

This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn