Oakwood Continues Global Expansion Momentum, Announces New Office in Beijing, China
LOS ANGELES AND BEIJING – June 27, 2019 – Oakwood, wholly owned by Mapletree Investments (“Mapletree”), announced today it has opened a new office in Beijing, China – a significant milestone that builds on the company’s rapidly growing footprint in the Asia Pacific region. Oakwood is now able to better serve companies expanding their reach to China and help navigate the complexities of doing business in the world’s largest corporate travel market.
With the establishment of a Beijing office, Oakwood is able to bill in local currency and issue fapiao, a legal receipt that serves as proof of purchase for goods and services. This not only allows companies to be reimbursed for taxes, it provides documentation to ensure that individuals are reimbursed for business expenses.
“For many of our clients, having a foothold in China, with a local office and trained staff that understands local nuances, is a key requirement for servicing multinational accounts. Our clients will be assured of a trusted global partner who understands their corporate travel and relocation needs, and we can better manage their booking requests,” explained Dean Schreiber, interim chief executive officer, Oakwood and managing director, Oakwood Asia Pacific.
Oakwood has a footprint of 35,000 properties in more than 95 countries and an exceptional portfolio of Oakwood-branded properties. Working in partnership with Oakwood enables clients to take advantage of this global footprint, making it easier to source, book, and manage your housing requirements while matching the preferences of both the client and employee.
“Oakwood’s expansion in China is an exciting, important step as we continue to enhance our housing solutions across the Asia Pacific region, and explore new ways to service our clients and provide value,” Schreiber added. “Oakwood currently has nine branded properties in China, including Beijing, Guangzhou, Hangzhou, Sanya, Shanghai, Suzhou, and Yangzhou with more to come.”