A Chinese investor is planning to build a new hotel in Saipan.<\/p>\n
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.<\/p>\n
\u201cI\u2019m trying to establish my dream hotel. This is a brand-new, modern, vacation resort,\u201d translator Xuankun Li said for Hu.<\/p>\n
\u201cThis one will be a four-star hotel with 11 storesy and 300 to 400 rooms,\u201d he added.<\/p>\n
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.<\/p>\n
\u201cThe location is being looked at but given the business consideration, I cannot tell you right now,\u201d he said.<\/p>\n
Hu says he is planning to invest more than $200 million in the CNMI within five years.<\/p>\n
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.<\/p>\n
\u201cIn 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\u2019m also confident to be the top one here in Saipan,\u201d Hu said.<\/p>\n
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.<\/p>\n
Aside from hotels, he is also planning to go into the real estate industry as this is his business in China.<\/p>\n","protected":false},"excerpt":{"rendered":"
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