October 19, 2021，Leicheng Group, a subsidiary of Ctrip, New World Hotels and Resorts, a subsidiary of Rosewood 188bet online sports betting Group, and Tongpai 188bet online sports betting, a subsidiary of Chow Tai Fook Enterprises, signed a joint venture agreement at the Tongpai 188bet online sports betting in Hongqiao, Shanghai，This is a further in-depth cooperation after the strategic cooperation reached last year。Future，The parties will develop and operate all Tongpai hotels and newly opened New World Hotels in mainland China through the joint venture company，Jointly promote the digital and intelligent development of the 188bet online sports betting industry。

Sun Jie, CEO of Ctrip Group, and Zheng Zhiwen, CEO of Rosewood 188bet online sports betting Group, congratulated the establishment of the joint venture via online connection。Senior Vice President of Ctrip Group、Chen Ruiliang, CEO of Large Accommodation Business Group，Vice President of Ctrip Group、Leicheng Group CEO Lu Yun，Sun Gang, COO of LiCheng Group，Leicheng Group CTO Chen Li，Liu Yang, President of Investment and Development Department of Lizheng Group，Zhang Shuming, CFO of Rosewood 188bet online sports betting Group，Liang Xiaochen, Chief Legal Officer of Rosewood 188bet online sports betting Group China，Yang Fan, Vice President of Operations of Tongpai 188bet online sports betting Management Group，Wang Hui, Financial Director of Tongpai 188bet online sports betting Management Group and Pan Jing, Legal Counsel of Tongpai 188bet online sports betting Management Group attended the signing ceremony。

Strong cooperation to accelerate brand development

Leicheng Group is a high-end 188bet online sports betting group under Ctrip，Taking OMO accommodation ecological platform as the positioning。Three years since its establishment，Leicheng has signed contracts with more than 500 hotels，More than 250 hotels opened，More than 17 million members。

Rosewood 188bet online sports betting Group is the core business segment of Chow Tai Fook Enterprises in the 188bet online sports betting industry，Rosewood 188bet online sports betting Group’s brand includes the ultimate luxury Rosewood 188bet online sports betting，Luxury and high-end New World Hotels and Resorts and lifestyle brand Qianli 188bet online sports betting。Rosewood 188bet online sports betting Group manages more than 39 hotels，Across 18 countries, About 32 new 188bet online sports betting projects are under development and construction。

188bet online sports betting and Resorts is committed to creating a luxurious business accommodation experience，its hotels are ranked first in China、Central location in second-tier cities and popular destinations in Asia。188bet online sports betting and Resorts provides multi-purpose venues、Modern supporting facilities and professional services，To satisfy guests of different ages and cultural backgrounds。Brand meets the innovative vitality of emerging Asia，Each of its hotels is designed to expand contacts、Ideal location for social interaction。

Tongpai was established in 2018，is a newly launched urban 188bet online sports betting and cross-border trendy lifestyle brand under Chow Tai Fook Enterprises，Committed to leading the new trend of dynamic urban life and social style，Create a new urban lifestyle landmark that brings together young people。The same faction upholds“Start at 188bet online sports betting，More than just hotels”’s philosophy，Creating an innovative business model: expanding the functions of traditional city hotels，Integrating long-term rental apartments and shared office scenes and services。Also，Tongpai adopts distinctive quality design，Create a complex urban space，Collect social networking、Casual、Entertainment、Office、Living in one body。In order to meet the needs of millennials who desire more diverse travel experiences，Tongpai is also committed to creating community experiences through co-creation，Create a new landmark of vibrant urban lifestyle。

The establishment of the joint venture means closer cooperation between the two parties。December 8, 2020，Rosewood 188bet online sports betting Group signed a strategic cooperation agreement with Licheng Group, a subsidiary of Ctrip，Aims to jointly develop and operate New World Hotels and Resorts and Tongpai 188bet online sports betting in China，Work together to create an innovative lifestyle 188bet online sports betting brand based on digital scenarios。Future，All Tongpai Hotels and new New World Hotels and Resorts in Greater China will be developed by the joint venture，And give full play to Lichen’s technical advantages、Marketing advantages and magnificent brand advantages、Offline operation advantages, etc.，Accelerate brand development，Enhance marketing strength，Improve customer experience。This transaction requires an antitrust declaration，And will be delivered after approval。

Deeply cultivated domestically, with a global heart

After the establishment of this joint venture，The two parties will develop 10 New World Hotels and Resorts and 90 Tongpai hotels in mainland China within three years，Promoting digital transformation in the 188bet online sports betting industry。

As of now，There are 3 Tongpai hotels and 1 New World 188bet online sports betting online，And connected to the Rezen system independently developed by Lichen。Relying on Rezen，Leicheng provides a complete set of 188bet online sports betting operation solutions，All-in-one employee connection、Store and guests: Rezen Business，Let Li Cheng better assist the daily operations of the 188bet online sports betting；Rezen One，Let the 188bet online sports betting conduct daily management more efficiently；Rezen Stay，Help the 188bet online sports betting before staying、Provide guests with a quality experience during and after their stay。Also，Leicheng also has a corresponding technical research and development team、Operation Team、Marketing Team、Training Team，Comprehensive empowerment of Tongpai 188bet online sports betting and New World 188bet online sports betting。　

Also，Licheng Jianghe Tongpai 188bet online sports betting、New World 188bet online sports betting Together，Strengthening 188bet online sports betting operation and management capabilities through continuous iterative upgrades of technology，Provide guests with an unforgettable stay experience，Enhancing the brand’s influence in mainland China。

Zheng Zhiwen, chief executive officer of Rosewood 188bet online sports betting Group, said: “Establishment of cooperative relationship between Ctrip Group, Rosewood 188bet online sports betting Group and Tongpai 188bet online sports betting，Signs our confidence in the Chinese tourism market。The establishment of the joint venture company is a practical step，Welcome a new milestone。This is the complementary advantages of both parties，Win-win cooperation，The beginning of harmonious progress。I look forward to deeper cooperation in the future，Creating a more relevant experience for a new generation of travelers。”

Sun Jie, CEO of Ctrip Group, said: “I am very happy to see that the cooperation between Ctrip Group, Rosewood 188bet online sports betting Group and Tongpai 188bet online sports betting has entered a new stage，This once again confirms the vitality and diversified development trend of China’s 188bet online sports betting market，Enhance the confidence of both parties to actively expand the market in Greater China。I hope that Licheng and Tongpai can work together to develop domestically in the future，With a global heart，Discover more potential accommodation needs，Create better 188bet online sports betting products。”

The digital and intelligent transformation of the 188bet online sports betting industry is at a critical period，The in-depth cooperation between Ctrip Group, Rosewood 188bet online sports betting Group and Tongpai 188bet online sports betting will also promote the positive development of the industry、Healthy development，Bring users a new accommodation experience。