Boqii Announces Strategic Partnership with World-Leading Hotel Group to Provide Pet-Friendly Stays in 'Blossom House' Hotels

Rhea-AI Summary

Boqii Holding Limited (NYSE: BQ), China's leading pet-focused platform, has formed a strategic partnership with Yongle Huazhu, a collaboration of Huazhu Group and Sunac Cultural Tourism. This initiative aims to provide pet-friendly accommodations at Blossom House hotels. The partnership addresses the rising trend of traveling with pets, enhancing Boqii's service portfolio for pet owners. Yongle Huazhu plans to operate 100 hotels in three years, integrating pet-friendly solutions into its offerings. This collaboration is set to strengthen the offline strategy of Boqii and cater to the growing demands of pet parents.

Positive

• Strategic partnership with Yongle Huazhu enhances service offerings for pet owners.
• Addresses the growing demand for pet-friendly accommodations.
• Yongle Huazhu aims to operate 100 hotels in three years, indicating growth potential.
• Integration of pet-friendly solutions into existing membership programs provides a competitive edge.

Negative

• None.

SHANGHAI, Oct 20, 2021 /PRNewswire/ -- Boqii Holding Limited ("Boqii" or the "Company") (NYSE: BQ), a leading pet-focused platform in China, today announced a strategic partnership with Yongle Huazhu, a joint company by world-leading hotel group Huazhu Group Limited (NASDAQ: HTHT and HKEX: 1179) and Sunac Cultural Tourism, to provide pet-friendly stays in Yongle Huazhu's Blossom House hotels. Boqii and Yongle Huazhu will develop unique services and solutions to offer easy and enjoyable hotel stays for pet owners and their pets.

As China's largest pet-focused platform, Boqii is committed to continuously enhancing its ecosystem to address different dimensions of pet and pet parent needs. The number of people choosing to bring pets on holiday increases every year, so much that traveling with pets is one of the fastest-growing trends in the travel industry. The large number of pet communities on Boqii's platform provide valuable insight into the needs and expectations of pet parents, which includes those for holiday accommodation. Founded in Lijiang in 2009, Blossom House is a market leader in the upscale boutique hotels field with a core philosophy of promoting the beauty of Chinese culture and preserving the local region's natural and cultural features. Having impressed the emerging middle class with its unique aesthetics, idyllic ambiance and creative collaborations, Blossom House intends to operate 100 hotels in three years, with pet-friendly stay as one of its most appealing services. Together, the two companies will jointly develop solutions to make hotel stays an easy and joyful experience for pets and pet parents alike.

"The partnership with Yongle Huazhu marks another milestone in our offline strategy execution," said Mr. Hao Liang, Chairman and CEO of Boqii, "Huazhu Group is a world-leading hotel group operating several thousand hotels in many countries around the world. With Huazhu's track record of success in hotel management and our extensive knowledge of pet parents and pets, we will co-develop pet-friendly hotel solutions that will be seamlessly integrated into our membership program to provide pet parents with hassle-free holiday experiences which are equally enjoyable stays for pets. We look forward to working with Yongle Huazhu in enhancing our service portfolio for pet parents and addressing the growing needs in our pet communities to lead accelerated growth for both companies."

About Boqii Holding Limited

Boqii Holding Limited (NYSE: BQ) is a leading pet-focused platform in China. We are the leading online destination for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private label, Yoken and Mocare, offered at competitive prices. Our online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets.

About Yongle Huazhu

Yongle Huazhu is a hotel management company jointly established by Huazhu Group and Sunac Cultural Tourism, with the goal to become a leading high-end hotel management company in China. The company focuses on the operation and management of nine high-end and luxury hotel brands in two major areas. These brands include: Steigenberger Icons Hotels, Song Hotels, Steigenberger Hotels, Blossom House, Blossom House Series, Lebanshan Hotels, Mauve Hill Hotels, Mauve Glamor Hotels and Arcadia Hotels.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com

The Blueshirt Group
Ms. Susie Wang
Email: susie@blueshirtgroup.com

In the United States:

The Blueshirt Group
Ms. Julia Qian
Email: julia@blueshirtgroup.com

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SOURCE Boqii Holding Limited

FAQ

What is the recent partnership announced by Boqii (BQ)?

Boqii announced a strategic partnership with Yongle Huazhu to provide pet-friendly stays in Blossom House hotels.

How does the partnership between Boqii and Yongle Huazhu impact pet owners?

The partnership aims to enhance the traveling experience for pet owners by offering tailored pet-friendly hotel solutions.

What are the growth plans for Yongle Huazhu after partnering with Boqii?

Yongle Huazhu plans to operate 100 hotels within three years, focusing on providing unique services for pet owners.

When was the partnership between Boqii and Yongle Huazhu announced?

The partnership was announced on October 20, 2021.