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Building a World-Class International Hotel Brand Under Chinese Management
Reporter: Chairman Li, could you please introduce the development strategy of your company? On what basis does your company make your strategy?
Li Jianwei: With capital operations, Jinling Hotel Corporation is expanding its management entity into luxury hotels and related hospitality industry chains to increase its scale consistently and internationally through cost-effective purchasing, equity participation, and perseverance. It will continue to be a world-class international hotel brand managed by Chinese professionals. This strategy comes from over 24-years of experience managing Jinling Hotel combined with remaining competitive through study and analysis of other hotel management/development formulas here and abroad.
This strategy forms our profitability quotient. Horizontally, by expanding chain hotel properties and real estate, consistently and comprehensively addressing both short and long-term investment factors, maximizing Jinling Hotel’s brand name recognition, sharing resources between hotel management and real estate, diminishing investment risk factors/projections, enlarging properties and increasing competitiveness. Vertically, we intend to strengthen and coordinate partnerships with other entities such as GDS, international travel agencies, airline companies and banks, creating enhanced opportunities for increasing revenue and rapidly developing a firm foundation for all chain hotels under the Jinling brand.
Reporter: Jinling Hotel is a world-renowned brand and has demonstrated a way for Chinese people to build up a leading hotel for the world to see. How does Jinling intend to handle competition now and in the future? What opportunities is the hotel currently facing?
Li Jianwei: Our major ingredients of handling competition which has led to our success is Jinling's brand name recognition, our staff, our culture, striving to constantly innovate, creating profitability while continuing to expand as well as our exceptional location.
Jinling Hotel's focus on brand name recognition, staff, and culture originates from our sense of responsibility and duty towards building a national brand; from our innovative management system which combines international standards with Chinese culture; and from our formulation of hotel strategies, systems and operating methods. To maintain our hotel's vigorous growth, we infuse honesty and a sense of purpose into every employee of Jinling. We place innovation as a priority throughout our entire hotel philosophy and culture.
Our ceaseless process of innovation relies on management innovation, product innovation, service innovation and technology innovation. We have shifted from hotel managing to managing a hotel. We have developed advanced quality control systems which portray international standards while retaining our own character. We have been awarded China Top Quality Control Cooperation having also won many other awards on our cost control and payroll systems.
We have steadily expanded and strengthened through comprehensive system constructs, professional employees and various financing modules. For system constructs, we developed Jinling Global Marketing System now bringing us 70% of all reservations. We currently enjoy the largest market share of foreign guests. Of our guests 96% are business travelers, 61% have stayed with us more than once and 35% are long-term guests. Jinling Website is the first Chinese website exhibiting strong reservation functionality in the national hospitality industry. At this time, 57 Global Top 500 Corporations have their offices in Nanjing with 91% of them signing long-term corporate rate agreements. Furthermore, our Central Sourcing System has become the best online purchasing platform in national hospitality industry. We have almost 3300 items in 70 cat