Meituan, Compass Hospitality Reach Strategic Cooperation Agreement
BANGKOK, June 14th, 2019 – 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.
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.
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, serviced 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.
Meituan (HKG: 3690) (the “Company”) is China’s leading e-commerce platform for services. With the mission of “We help people eat better, live better,” the Company’s platform uses technology to connect consumers and merchants. Service offerings on the platform address people’s daily needs for food, and extend further to broad lifestyle and travel services. According to the iResearch Report, Meituan is the world’s largest on-demand food delivery service provider and China’s largest e-commerce platform for in-store dining services in 2017. It currently operates the world’s largest on-demand delivery network in terms of the number of deliveries in 2017. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. The Company currently owns several household brands in China, including Meituan, China’s leading online marketplace for services by GTV in 2017, Dianping, China’s leading online destination for discovering lifestyle services by MAU in 2017, Meituan Waimai for on-demand delivery services, and Mobike for bike-sharing services. Meituan had 400.4 million Annual Transacting Users and 5.8 million Annual Active Merchants by the end of 2018. The Company operates in over 2,800 cities and counties in China.
Guo Qing, Vice President of Meituan, General Manager of Meituan Hotel, and General Manager of Meituan Ticket Booking and Travel Business : “We hope to bring more localized experience to Chinese tourists overseas through the cooperation with Compass Hospitality.”
About Compass Hospitality
Compass Hospitality is a young and dynamic hospitality group headquartered in Bangkok, Thailand. With the vision ‘’ To be the best in its class for the Hotel and Serviced Residences and to lead the marketing with avant-garde approaches’’, the company has 4 distinctive brands; Compass, Citrus, Citin and Ananda Resort and Spa (alongside our Compass Collection). Within these four brands, a large variety of lifestyle preferences are available to guests, from boutique hotels, resorts, lifestyle properties to budget efficient alternatives. With a portfolio of 5,000 keys; 29 properties in Thailand, 4 in Malaysia and 15 in the United Kingdom, a wide variety of Compass Hospitalities’ properties give guests easy access to major attractions in Southeast Asia and Europe, making it an ideal option to for individuals who want to be based at great locations and expect quality services.
Tejinder Sidhu, Senior Vice President, Business Development & Operations at Compass Hospitality : “Meituan is an ideal platform for us to engage with Chinese travellers who are looking for peerless hospitality when travelling abroad.”