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Oakwood Outlines Continued Expansion Plans in China with Introduction of New Properties

SINGAPORE – 13 April 2021 On target to double its portfolio of managed properties by 2025, Oakwood today confirmed plans to open four new properties in China by December 2021 with more signings expected to be announced in the coming months. Since debuting in China over 20 years ago, Oakwood now manages eight distinctive properties with the imminent opening of Oakwood Premier Tonglu by May 2021 followed by three additional openings in Beijing, Foshan and Chongli, the host city for the 2022 Winter Olympics. This expansion plan demonstrates Oakwood’s commitment and recognition of the importance of the China market, further emphasised through a strategic alliance with Country Garden Commercial and Culture Tourism Group, which will see the addition of 100 Oakwood Beluxs properties in China’s 50 cities with the highest gross domestic product (GDP) by 2030.

“For more than 50 years, Oakwood has played a leading role in pioneering the concept of serviced apartments and extended residential experiences globally. Our legacy has given us the competitive edge of providing a personal safe sanctuary with generous living spaces and hospitality excellence. Oakwood will leverage on our core competencies to accelerate the growth momentum in China by doubling our portfolio within 2021. China has always been a key market for us and we are committed to diversifying our portfolio of brands in key Chinese cities, establishing new property openings, and raising the industry benchmark for health and safety protocol while pushing boundaries in our operational standards,” said Dean Schreiber, chief executive officer of Oakwood. This year, Oakwood’s portfolio in China will witness a growth of 50% in-market, bringing the total number of managed properties up to 12 by December 2021. The four highly anticipated openings include:

Oakwood Premier Tonglu in Hangzhou, is located in "LIT City", Tonglu's first cultural and creative complex for convenient access to retail, entertainment and dining experience. Its idyllic spot offers inspiring views of the city’s natural beauty of the scenic Fuchun River from 45 hotel rooms and 154 fully-equipped serviced apartments. Other facilities include an all-day dining restaurant, steak house, lobby lounge, indoor swimming pool, fitness centre as well as three multi-functional meeting rooms. The property is scheduled to open in May 2021.

Oakwood Hotel & Apartments Daxing Beijing is strategically located in the rapidly developing Daxing district in Beijing. A mere 25-minutes’ drive from the Beijing Daxing International Airport, it is conveniently close to key business hubs, retail malls and only a two-minute walk to the subway. The property features 165 hotel rooms for short-term stays as well as studios, and one- and two-bedroom apartments equipped with full kitchen facilities for long-term stays. Other facilities include a 24-hour fitness centre, all-day dining restaurant and sophisticated meeting venues. It is expected to open in September 2021.

Oakwood Residence Foshan is strategically located in the new central business district, next to the picturesque Qiandenghu Lake within the Nanhai District. The new residential landmark comprises 386 elegantly appointed apartments. Its extensive facilities include an all-day dining restaurant, bar, residence lounge, recreation area, fitness centre, children's play area and six meeting rooms. The property is scheduled to soft open in the fourth quarter of 2021.

Oakwood Suites Chongli is a private retreat nestled in the State Villas with unobstructed views of rolling greens and scenic mountains. Commissioned for the Beijing 2022 Winter Olympics, the resort is accessible from Beijing in under an hour via the high-speed railway. Enveloping the estate, guests will find serenity amidst sleek modernity and can select from a choice of 137 luxurious studios, one- and two-bedroom apartments. With easy access to myriad seasonal outdoor activities like skiing and snowboarding in winter or hiking and trail running for the rest of the year, it also features facilities such as a restaurant with private dining room, residents’ executive lounge, lobby lounge, fitness centre, swimming pool as well as retail options such as a ski shop and sundry shop.

Chongli is the host city for the Beijing 2022 Winter Olympics and Oakwood Suites Chongli is scheduled to open by December 2021, ahead of the historic event. During the 16th China Hotel Starlight Awards Ceremony, which was held in conjunction with the 2021 Asia Hotel and Travel Forum Annual Meeting in Shanghai on 31 March 2021, Oakwood was recognised as the “Best Serviced Apartment Operator” alongside a second accolade for Oakwood Beluxs as the “Best Serviced Apartment Brand” in China. Renowned as the “Oscars” of the hospitality industry, the China Hotel Starlight Awards is one of the most influential and authoritative recognition for outstanding contribution by hotel brands, teams and individuals.

Recognising the rise of a new generation of travellers with a desire for sustainable, smart and personalised sanctuaries, Oakwood Beluxs was created in August 2020 as part of a strategic alliance with Country Garden Commercial and Culture Tourism Group, to cater to the developing market segment in China. Reflecting the ethos of aspiring entrepreneurs and corporate executives, Oakwood Beluxs is a residential lifestyle choice that serves the emerging needs of young jetsetters with a global perspective of life, culture and identity. Within eight months of launch, Oakwood Beluxs received the remarkable recognition as "China's Best Service Apartment Brand". With sustained expansion of Oakwood’s footprints in China and the pipeline development of 100 new properties slated to launch under Oakwood Beluxs in China, these prestigious accolades serve to further reinforce the strong foundation that has been set for further growth. Moving forward, Oakwood will continue to expand its service boundaries, create and establish its signature lifestyle experiences across its properties globally.

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