What is Chen Miaolin's Net Worth?
Chen Miaolin is a Chinese businessman who has a net worth of $1.06 billion. Cited as one of the richest people in China, Chen Miaolin is the Chairman of the New Century Tourism Group, a hotel management and property development company that operates within the hotel, real estate and building materials industries through its subsidiaries. Founded in 1988 with headquarters in Hangzhou, China, the New Century Tourism Group has become builder and manager of four and five-star hotels and also has resorts in China. Since 1988, when New Century Hotel Xiao Shan, the first hotel of New Century Tourism Group, made its debut, Chen Miaolin has built the brand into five-star hotel status with his dedication and notable flexibility. New Century became one of the top domestic private enterprises and a premium chain hotel group.
Chen was a pioneer in adopting the concept of "combining the business of the residence, commerce, hotel and tourism" and landed New Century on the Hong Kong Stock Exchange in 2013 as the first domestic hotel REIT. Under the leadership of Chen, New Century Tourism Group also acquired the Frankfurt Golden Tulip Hotel in 2013 to enhance global recognition of the company. After 25 years of expansion, the New Century Tourism Group now contracts with over 140 hotels and more than 40,000 rooms, in regions covering 22 provinces, autonomous regions and municipality in China, as well as Frankfurt, Germany. Chen has advocated for greater enjoyment of both work and life and encourages more sharing among all staff. He has also set up a relief fund to help employees facing difficulties and a public scholarship to serve society.
