A private developer from Hong Kong, eyeing a gap in the family tourism market in China’s southernmost Hainan province, plans to build the first branded theme park to cash in on the tropical island’s popularity as a domestic and international tourism destination.
Keyestone Group plans to build a Hello Kitty theme park there, the second in China after Anji in eastern Zhejiang province, which opened in 2015. The complex, spread over 52 acres (2.27 million square feet) in the provincial capital Sanya, will also include a 250-room luxury hotel, and is estimated to cost 4 billion yuan (US$620 million) when completed. Construction started last month and the park is set to open in the second half of 2024.
“We see a growing demand for family entertainment in China,” chief executive Jeffery Pun said. “We aim to build a theme park that will be one of the most Instagrammable places in China.”
Keyestone, which owns the Grand Hyatt Sanya Haitang Bay Resort and Spa among its assets in Hainan, signed a licensing agreement with a unit of Sanrio of Japan in July 2019, allowing it to use most of the Japanese company’s more than 400 trademark characters, including Hello Kitty, My Melody and Gudetama, in the theme park.