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Chinese investor plans to build new hotel
A Chinese investor is planning to build a new hotel in Saipan.
DaHeshi Entity general manager of Yibo Hu, who recently acquired the Gold Beach Hotel in Beach Road, Garapan, is setting his business sights on the island.
“I’m trying to establish my dream hotel. This is a brand-new, modern, vacation resort,” translator Xuankun Li said for Hu.
“This one will be a four-star hotel with 11 storesy and 300 to 400 rooms,” he added.
According to him, they have already located a place for the business and in the process of obtaining the long-term lease within the month.
“The location is being looked at but given the business consideration, I cannot tell you right now,” he said.
Hu says he is planning to invest more than $200 million in the CNMI within five years.
Asked why he chose to invest on Saipan despite the ongoing influx of business, Hu says he can be at the top of those companies.
“In China, there are a lot of competitors in many industries. But for me, I can be the top one in those complicated environment in China. So I’m also confident to be the top one here in Saipan,” Hu said.
In his speech at the meeting with his fellow Chinese investors at the Pacific Islands Club Saipan on Monday, Hu commented that there is a fair and just environment in the U.S. for their investments.
Aside from hotels, he is also planning to go into the real estate industry as this is his business in China.
