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Friday, April 19, 2024

Meituan and Compass Hospitality Reach Strategic Cooperation Agreement

Meituan (HKG: 3690) (the “Company”), China’s leading e-commerce platform for services, and Compass Hospitality Hotel Group inked a strategic cooperation agreement that aims to provide convenient, safe and comfortable accommodation experiences for Chinese tourists overseas.

Compass Hospitality’s flagship store is now available through both the Meituan App and Dianping App, allowing consumers to browse and inquire about the price, location, and room status of all hotels run by Compass Hospitality across different cities in Thailand, Malaysia and UK. This gives them the opportunity to make choices according to their needs and preferences along with the chance to explore and learn about the specialty restaurants on offer by Compass Hospitality through the flagship store.

“Meituan is an ideal platform for us to engage with Chinese travellers who are looking for peerless hospitality when travelling abroad. Indeed, the last few years have seen Chinese tourists establish themselves throughout the region as commercially savvy and astute travellers. From a strategic perspective, we hope this partnership will enhance our reach with this demographic and we look forward to welcoming them at our destinations.” Tejinder Sidhu, Senior Vice President, Business Development & Operations at Compass Hospitality added.

Under the agreement, Meituan and Compass Hospitality will also cooperate on brand development, comprehensive hotel income management and data analysis. In terms of brand development, in addition to strengthening the presence of its flagship store, Meituan will help Compass Hospitality promote its brand and enhance its brand awareness among Chinese consumers, especially the younger generation.

On initiative regarding hotel comprehensive income management and data analysis, the two sides will jointly explore the new “Internet + accommodation” model, which centers around driving accommodation business growth through utilizing the internet and digital technologies. Guo Qing, Vice President of Meituan, General Manager of Meituan Hotel, and General Manager of Meituan Ticket Booking and Travel Business also added, “We hope to bring more localized experience to Chinese tourists overseas through the cooperation with Compass Hospitality. We find that Chinese consumers especially younger generation, prefer better and more localized accommodation experience while traveling abroad. Together with Compass, we can offer more localized, more comfortable and more convenient services to Chinese outbound tourists.

Headquartered in Bangkok, Thailand, Compass Hospitality has four hotel brands: Compass, Citrus, Citin, Ananda Resort & Spa, which are located in nearly 20 cities including Bangkok, Chiang Mai, Kuala Lumpur and various cities throughout the UK. Compass Hospitality operates various hotels ranging from budget properties, luxury orientated properties, lifestyle orientated properties, service apartments, resorts and boutique city hotels. These hotels are well located and give consumers easy access to major attractions.

Since launching its overseas hotel booking business in 2017, Meituan Hotel has expanded to cover about 500,000 hotels in nearly 200 countries and regions and enjoys rapid growth in transactions.

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