On November 11, 2016, Zhejiang Narada Boutique Hotels Co., Ltd. (the “Company”), announced the launch of its new brand, Pagoda Hotels, at the 2nd China (Shanghai) Hotel Franchise Expo, at which the hotel group showcased the brand’s concept model rooms.

Pagoda Hotels Makes Inroads by Providing High-End Services to China’s Middle-Class Consumer Market
The Pagoda brand started in 1922, has reflected the history and culture of its place of origin, Perth, Australia, is the second largest brand in the Company portfolio and is being positioned as a high-end boutique limited service hotel brand that complements the group’s older mid-market Narada Boutique Hotel brand. The launch of Pagoda Hotels marks a big step that the Company has taken toward becoming the leader in terms of product design and innovation across the medium and high-end boutique hotel segments in China.

The Company founder and chairman Wu Qiyuan said: “It is the responsibility of the leaders in China’s hotel service sector to provide access to the world. Today the return of the Pagoda Hotels brand will tremendously support the development of the Company in the high-end boutique hotel segment and accelerate the expansion of the Company as more families enter China’s emerging middle class, a group that is quickly becoming active consumers of high-end services.”

At variance with the mid-market positioning of Narada Boutique Hotel, Pagoda Hotels focuses on the high-end business and leisure expectations of the new middle class. By fusing the brand’s original Australian elements and the Company’s urban aesthetics to create a brand concept that answers the expectations of a hotel guest seeking a high-end market experience, Pagoda Hotels embodies the aesthetic traditions and easygoing character that Perth is known for. The group has succeeded in creating a hotel design that reflects the local history, culture and lifestyle.

A Complementary Set of Middle and High-End Brands

When the Company was founded in 2007, the group positioned itself as a middle-end boutique limited-service hotel brand, based on a concept that emphasized an atmosphere of leisure and fashion, the Company has more than 5,000 hotel rooms at 32 hotels, including properties currently in development.

The increasing demand for high-end hotels reflects the growth of income and the change in consumption habits among Chinese travelers. A brand needs to have some unique characteristics and differentiate itself from its peers if it expects to survive and flourish in the current competitive environment. Pagoda Hotels enters as a complement to Zhejiang Narada Boutique Hotels’ high-end brand concept, moving the group one step closer to its goal of becoming the leader in the middle and high-end boutique limited service hotel segment in China.

About Zhejiang Narada Boutique Hotels Co., Ltd.

In 2007, Zhejiang Narada Boutique Hotels Co., Ltd. founder Wu Qiyuan started the hotel brand, Narada Boutique Hotel, based on a brand new boutique service business model. During the nearly ten years since the group was formed Zhejiang Narada Boutique Hotels Co., Ltd. has remained committed to its original corporate philosophy: “Quality Comes First, Customer Experience Is the Priority, Adaptation to the Needs of the Customer,” and to deliver a unique yet meticulous quality of service based on traditional Chinese hospitality, in line with the company mission of becoming the leader in the middle and high-end boutique limited service hotel segment in China.