A major hotel property in Zhoushan is scheduled for a public auction, with bidding set to commence at a starting price of 195.52 million yuan. According to information from an online auction platform, Zhejiang Zheyin Financial Leasing Co., Ltd. has announced the public listing for the Zhoushan New City Narada Grand Hotel.
The initial auction round is scheduled to begin at 10:00 AM on the 29th of this month. The starting bid is set at 195.52 million yuan, with incremental bid increases of 2 million yuan permitted. The auction period will last for one day, with the entire building of the Zhoushan New City Narada Grand Hotel being the asset up for sale.
Located at 259 Qiandao Road in the core area of the New City, the hotel boasts a total construction area exceeding 33,000 square meters. The structure rises 23 stories above ground with one basement level, featuring over 240 luxury guest rooms of various types.
The property is equipped with five fully appointed meeting venues of large, medium, and small sizes, positioning itself as a comprehensive business hotel integrating conference facilities, banquet services, accommodation, dining, and wellness amenities.
The hotel has a notable history familiar to many local residents. In October 2024, the well-known "Nanyang International Grand Hotel" was officially rebranded as the "Zhoushan New City Narada Grand Hotel" and has since been under the full management and operation of the Narada Hotel Group. This move signified Narada's strategic entry into the prime administrative and commercial district of the New City by taking over an established property.
Current observations indicate that the hotel's official social media channels and group-buying accounts are still in the process of being updated. Public records show that the Narada Hotel Group was established in October 2006, with a registered capital of 300 million yuan and its headquarters based in Hangzhou.
The group ranks among China's top 10 hotel conglomerates and the world's top 50 hotel groups. With a mission to build a premier domestic Chinese hotel brand, the group operates three main brands: "Narada Resort," "Narada Grand Hotel," and "Jinglan Hotel," catering to vacation, business, and community lifestyle segments.
As of 2025, the group manages investments in over 200 hotels, comprising nearly 60,000 guest rooms, with its business operations extending across 24 provinces in China.
Comments