Publicly traded, Shanghai-based esports company NIP Group (NASDAQ: NIPG) has signed a strategic partnership with China-based hospitality company Homeinns Hotels Group (part of the BTG Homeinns Hotels Group).
Financial terms of the deal were not disclosed but the new partnership has a seven-year duration, running from now until 2031.
Under this new strategic partnership, NIP Group will create a joint venture with the company to develop and operate esports-themed hotels, with NIP Group taking a controlling stake in the project, overseeing investment, operations, and management, according to an announcement.
“This strategic alliance holds immense value for both NIP Group and Homeinns,” said Mario Ho, chairman and co-CEO of NIP Group. “For NIP Group, it represents an opportunity to extend its brand into the physical realm of hospitality, offering a unique and immersive experience for esports fans.”
The first esports hotel under this newly formed joint venture is expected to open in an undisclosed Chinese city within the coming months.
Esports-themed hotels are probably more popular in China than in any other region in the world. An April 2023 report suggested that there were more than 20,000 esports-themed hotels in the country at the time—that report was written by companies working in the space including Shunwang Big Data Centre, hotel management system provider Xuanzhu, and esport hotel management system provider Xingyun.