Fairmont Hotels & Resortshas signed an agreement with Henan Donggang Real Estate Co. Ltd for the development of Fairmont Zhengzhou.

Fairmont Hotels & Resorts, a luxury brand in the FRHI Hotels & Resorts (FRHI) portfolio, has signed an agreement with Henan Donggang Real Estate Co. Ltd for the development of Fairmont Zhengzhou in the capital of Henan Province in central China.

Projected to open in 2018, the 350-room hotel will be part of a new mixed-use development in the CBD of Zhengdong New Town, an upcoming financial and business hub in Zhengzhou. Located 45km (28 miles) from the international airport, it will feature four distinct dining outlets, along with approximately 4,000 square meters (43,000 square feet) of meeting and banquet space. Recreational facilities will include a Willow Stream Spa and a swimming pool.

“Our expansion into Zhengzhou is significant in that it debuts our presence in a major hub of central China,” said Jennifer Fox, president, FRHI International and Fairmont Brand. “It marks another important milestone in our development strategy for China, and signals continued strong growth for us in this very important market.”

The CBD has already attracted over one hundred financial institutions, and when complete, will be home to over 800,000 residences. Fairmont Zhengzhou will also serve an expanding meetings and events industry in the city with the International Exhibition & Conference Centre that has 2.2 million square meters of space.

The burgeoning city of Zhengzhou – which is also the most populous in the province with more than 8 million residents – is the economic, political, cultural and educational capital of Henan with pillar industries including automotive, machine manufacturing, energy, aluminum and food processing. It is also one of the largest transportation hubs in China, at the intersection of several high-speed railways including Beijing-Guangzhou and Beijing-Hong Kong. The city also has a new metro in the pipeline, scheduled to begin operations by 2015.

Fairmont Zhengzhou will join the growing portfolio of Fairmont Hotels & Resorts in China, including Fairmont Beijing, Fairmont Peace Hotel in Shanghai, Kunshan's Fairmont Yangcheng Lake and Fairmont Nanjing.

China continues to be a key growth market for the luxury hotel brand, with a number of new developments scheduled to open in the coming years. Projects include Chengdu (2015), Changsha (2017), Hangzhou (2018), Suzhou (2018), Taiyuan (2019) and Nanning (2019).