(Yicai Global) Sept. 25 -- Chinese construction and decoration company Sino Great Wall Co. [SHE:000018] and Wanda Hotel Management Co., a group owned by commercial real estate giant Dalian Wanda Group Co., formed a strategic cooperation and will develop overseas hotel projects.
Sino Great Wall said yesterday that it recently signed a hotel development agreement with Wanda Hotel Management (Shanghai) Co. and the parties arranged to collaborate on the construction and development of hotel operations abroad.
Sino Great Wall is mainly responsible for project design, construction and hand over as well as the development investment and financing work. Wanda Hotel Management is leading brand output and operating management and is providing technical support for construction.
After the signing ceremony, the groups held high-level discussions on Wanda's management and development ideas for hotels and resorts of as well as Sino Great Wall schemes in Laos and Burma, also known as Myanmar.
Established in 2001, Sino Great Wall's main business is large-scale contracting on the high-end market. It is working on building projects in the United States, the United Kingdom, Australia, Burma, Laos, Malaysia and Thailand.