Universal Beijing Resort and Yum China Holdings, Inc. (NYSE: YUMC) today announced an eight-year strategic partnership to jointly provide fun and innovative entertainment and dining experiences across China.
The strategic partnership brings together Universal Beijing Resort, a widely anticipated theme park destination scheduled to open in 2021, and Yum China, the largest restaurant company in China in terms of restaurant numbers and revenue. Through this collaboration, both parties will leverage their respective strengths and deep insights into the changing lifestyles of young and family consumers. This partnership also demonstrates both parties’ shared goal to invest in local markets for long term growth.
“As one of the major investors in the Universal Beijing Resort project, Beijing Tourism Group has made unremitting efforts to establish Universal Beijing Resort as a new landmark of Beijing cultural tourism, while actively contributing significant economic and social benefits in Tongzhou and the Jing-Jin-Ji region,” said Bai Fan, Deputy Party Secretary, Board Director and General Manager of Beijing Tourism Group (BTG). “Beijing Tourism Group has a long-standing successful partnership with Yum China, and we’re very pleased to see our partnership being elevated to a new level today, further enhancing our goal to build a comprehensive service industrial chain in China.”
“As part of our aspiration to become an innovative pioneer in the restaurant industry, our partnership with Universal Beijing Resort is expected to bring transformative entertainment and dining experiences to Chinese consumers,” said Joey Wat, Chief Executive Officer of Yum China. “We are excited about the potential of combining the power of our iconic brands, unrivalled food innovation capabilities and industry leading digital ecosystem with Universal’s globally recognized entertainment expertise and assets to reshape the future of consumer experience.”
“This partnership is a perfect example of our shared goal to meet the changing needs of Chinese consumers and market commitment to bring joy to countless families in China. We are honored to have Yum China as a key partner of Universal Beijing Resort, to jointly creating extraordinary and innovative experiences for our guests,” said Page Thompson, President and Chief Operating Officer – International, Universal Parks & Resorts.
Under the partnership, both parties will work together to launch a series of online and offline marketing activities, leveraging the brands and concepts applicable to Universal Beijing resort, to provide opportunities for Universal theme park’s guests, movie fans and Yum China’s large group of customers to enjoy unique Universal-styled experiences. Yum China’s special promotions will be conducted across its KFC, Pizza Hut and Taco Bell brands spanning Yum China’s more than 8,000 stores throughout China and geared towards Yum China’s 230 million digital members.
“As part of the agreement both parties will work together across a number of areas including IP cooperation, online activations, themed stores and in-store activities,” said Johnson Huang, General Manager of KFC China. “Joint membership activities held by both parties will offer consumers added convenience and plenty of fun and exciting experiences, such as exploring the opportunity of enabling Yum China’s digital members to purchase resort tickets through our digital platforms. The powerful membership systems of both parties offer a solid foundation to explore more opportunities for future cooperation.”
In addition, Yum China will open a new KPRO restaurant at Universal CityWalk Beijing, a retail, dining and entertainment complex inside the Universal Beijing Resort. As a restaurant format developed by KFC China, KPRO is designed to offer a fresh, seasonal menu to a new generation of sophisticated diners, and the Universal CityWalk Beijing KPRO restaurant will include a tailor-made resort menu as well as a unique restaurant design featuring the customized theme of Colonel’s Green Kitchen. Universal CityWalk Beijing will feature vibrant retail, dining and entertainment concepts that will perfectly complement the theme park experience. There will be award-winning restaurants, clubs and a movie theater – and plenty of themed retail and shopping.