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Representatives of Yunyan and Wanda attend the foundation-laying ceremony for the Wanda Reign Hotel. [Photo/gywb.cn]
The foundation-laying ceremony for the Wanda Reign Hotel was held on March 29 in Guiyang, the capital city of Southwest China's Guizhou province. The new hotel is being built on People's Avenue in the city's Yunyan district.
The hotel will be the fourth seven-star luxury hotel owned by Wanda Group worldwide and is regarded as an important development of Yunyan's central business district.
People's Avenue is a main urban road developed by Guizhou province and Guiyang city. It has plenty of peripheral supporting resources, obvious regional advantages and will focus on new industries such as finance, business, high-end hotels, top-tier shopping centers and headquarters buildings.
According to Liang Hongyu, assistant president of Wanda Investment Group and general management of Guiyang Urban Development & Investment Co, Wanda Group has become a large international conglomerate focused on the modern service industry. It is also China's top performer in the commercial real estate industry over the past three decades.
The new hotel project in Guiyang's Yunyan district has an investment of more than 10 billion yuan ($1.523 billion), with 4.05 billion yuan spent on land acquisition. It will help enhance Guiyang's international reception capacity and comprehensively upgrade commercial and residential areas in the main city center with the service concept of “elegance, luxury, perfection.”
Wang Qian, deputy secretary of Yunyan district's Party committee and head of Yunyan district's government, said that the Wanda Reign Hotel project has the same functional orientation as the industries along People's Avenue and conforms to the goal of developing a middle and high-end consumption area.
The hotel will accelerate urban renewal and industrial upgrading in surrounding areas and contribute to Yunyan's economic and social development.
Wang added that the district will actively offer service assurances and improve administrative efficiency to ensure the smooth and fast progress of the project.