Huazhu Initiates Major Restructuring to Pursue Global Ambition
Chinese hotel group Huazhu initiated a major plan for organization restructuring last week to pursue the company’s ambition of strengthening domestic business while going global.
According to the plan announced by chairman Qi Ji in an internal letter, the company will be restructured to include two organizing bodies, the parent Huazhu Group and the subsidiary Huazhu China.?
Mr. Qi Ji will continue to serve as chairman and CEO of Huazhu Group, while Mr. Hui Jin is president of Huazhu Group. Mr. Qi Ji together with chief strategic officer Jie Zhen and vice president of Fei Ye will oversee the company’s international expansion.?
As for the company’s China-focused operation, Huazhu China, Mr. Hui Jin will act as CEO and report to Mr. Qi Ji.?
The two bodies of Huazhu Group and Huazhu China are an innovative idea for organization restructuring, with respective focuses but still as a united group, according to Mr. Qi Ji, who plans to delegate the company’s domestic daily routine to Mr. Hui Jin, and focus on Huazhu’s innovation, strategic thinking and exploration.?
Mr. Qi Ji said the China market remains key to the company’s operation while Huazhu will continue its foray into the international and global business with some investments of resources.?
The company intends to establish its headquarters for global business in Singapore. After acquiring Deutsche Hospitality last year, Huazhu is looking further for new investment targets mostly in Europe and Asia.?
Deutsche Hospitality reported annual revenue of EUR 484 million (RMB 3,783 million) last year, making up 25.2% of Huazhu’s consolidated revenues for the year.
Source:?ChinaTravelNews