Chinese internet company NetEase's (Nasdaq: NTES) lifestyle e-commerce platform Yanxuan reportedly plans to open its previously announced hotel in Hangzhou on August 8.
According to a source close to the matter, the Yanxuan Hotel brand will be launched in partnership with Shanghai-based Yaduo Hotel Management, operator of online accommodation services platform Atour Hotel. Consumers will be able to book a room at the Yanxuan Hotel through the Yanxuan platform, Atour Hotel's website, or partnering online travel agencies.
Yanxuan Hotels will also embed and feature a variety of Yanxuan products, so that if customers staying at a Yanxuan Hotel are impressed by the room decorations or bedding they can visit Yanxuan's platform to order these items online.
William Ding, CEO of NetEase, told media outlet Bloomberg Businessweek (China Edition) that Yanxuan will also explore bookstore operations and other retail business domains. This appears to signal that Yanxuan is transforming into an offline brand to compete in offline retail markets.