Hyatt International Hotel Management Co Ltd announced on Monday it will introduce two new brands in China to target the country's rapidly growing middle class.
Hyatt Place and Hyatt House will focus on middle class travelers who seek better value for their money, said Xia Nong, senior vice-president of Real Estate & Development of Hyatt International Hotel Management (Beijing) Co Ltd.
"There is a segment that is not so well-served in China," said Xia, referring to hotel rooms with prices ranging from 500 yuan ($80) to 800 yuan a night.
"We believe now is the best time to introduce these two brands and to spur our new growth in the country," Xia added.
This is the first time Hyatt has introduced hotels that are not at the five-star level in China. The first Hyatt Place will open in Shenzhen, Guangdong province, in the second quarter.
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