Hyatt, BTG Homeinns unveil China-centric UrCove brand

Sunac and Nova will use the $3.2-billion fund to acquire and redevelop hotels, office buildings and shopping centers in China.
Hyatt and BTG Homeinns Hotels Group expect to debut a UrCove hotel in Beijing by late 2020. Photo credit: anthonychong / Pixabay

Hyatt Hotels Corp. and BTG Homeinns Hotels Group revealed the name of their upcoming upper-midscale brand, UrCove, at the Chinese Hotels and Tourism conference on June 19. First announced in February, the joint venture between the two companies will be designed specifically for Chinese travelers.

The first two hotels are expected to open in Shanghai and Beijing by late 2020. Over the next five years, the brand expects also to debut locations in Guangzhou, Shenzhen and other cities across the country.

UrCove, pronounced “your cove,” also will be known by its Chinese name Yifei (逸扉). It will target middle-class business travelers, with locations focused in gateway cities. Hotels will include business space and  amenities designed to help guests manage work tasks while traveling. Food and beverage programs will offer breakfast, as well as group or business dinner options.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

“We are one step closer to fulfilling our commitment to elevate the business travel experience of the growing upper-midscale segment,” said David Sun, general manager of BTG Homeinns Hotels Group and chairman/CEO of Homeinns Hotel Group. “The UrCove brand is designed to better serve local consumers.”

China continues to grow in terms of wealth and travel. By 2020, its middle class is expected to reach 440 million. Data from the Ministry of Culture and Tourism of The People's Republic of China showed domestic tourism revenue rose by 13 percent in 2018 to $731.5 billion (CNY 5.05 trillion).

“Given China’s growing economic importance and the phenomenal growth of its middle-class segment, the UrCove brand strengthens our representation in the underserved upper-midscale segment and we believe that this locally developed brand will advance our commitment to this important market,” said Stephen Ho, president of Greater China, global operations, Hyatt.

BTG Homeinns is a Chinese hotel company that as of the end of September 2018, operated about 3,900 hotels in more than 400 cities across the country. In recent years, BTG Homeinns has invested in expanding its portfolio of midscale hotel brands to meet the growing demand among Chinese travelers, developing a strong presence of about 600 midscale hotels across China, including its Yitel Premium, Homeinnplus and Homeinn Selected brands.

Suggested Articles

As civil unrest continues, hotels are cutting rates to attract guests—and investors are getting deals, too.

The Het Slaakhuys building, originally designed by Dutch architect Jo Vegter in 1952, is now known as the Slaak Rotterdam, a Tribute Portfolio Hotel.

The chain will renovate the Fiesta Resort Guam and reopen the hotel as the Crowne Plaza Resort Guam in early 2021.