Gelonghui, April 29, 丨 Kerry Construction (00683.HK) announced that on April 29, 2024, Jianan Kunming (a non-wholly-owned subsidiary of the company), as the owner of the Kunming plot, entered into such agreements with Shangri-La International and Shangri-La Hotel (all wholly-owned subsidiaries of Shangri-La), respectively, relating to the development and management of such hotels and apartments on the Kunming plot. Under these agreements, Shangri-La International and Shangri-La Hotels provide pre-opening technical advisory services, project management consulting services, hotel management services, and sales, marketing and training services to Jian'an Kunming for the development and/or management of such hotels and/or apartments on the Kunming plot.
Kunming plot refers to a plot of land located at No. 88-96 Dongfeng East Road, Panlong District, Kunming City, Yunnan Province, China.
The company and Shangri-La will use their combined experience, position and expertise in hotels, commercial and residential properties to develop the Kunming plot. The company believes that the specialty and main business of Shangri-La International and Shangri-La Hotel is to provide hotel management and related services, while Jianan Kunming's main business includes owning and developing properties, including developing such hotels and such apartments. Furthermore, according to the hotel management agreement, Shangri-La International agreed to authorize Jian'an Kunming to use the brand names “Shangri-La” and/or “Shangri-La”, “JEN BY SHANGRI-LA” and/or “JEN Shangri-La Group” and other related trademarks and logos to operate such hotels as world-class luxury hotels.