Hyatt Hotels has entered a five-year agreement, backed by Chinese investors, to develop 50 Hyatt Place and Hyatt House hotels including its Unbound and Centric brands.

Representing the first authorised third-party management company for franchised Hyatt hotels in China, Minyoun Hospitality, which owns 50 properties in China, Thailand, France and Fiji across six hotel brands, will manage the Hyatt Place Nanchong Gaoping, Hyatt Place Changchun Jingyue and Hyatt House Changchun Jingyue.

There is a recent shift in China away from luxury and budget hotels towards the select service segment, in line with China’s rapid growth among middle class consumers.

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