Atour Way of life 2025 report particulars China dangers, dividends | ATAT SEC Submitting

The Fire Prevention Law of the PRC, promulgated in April 1998 and amended in October 2008, April 2019 and April 2021, respectively, by the SCNPC, and the Provisions on Supervision and Inspection on Fire Prevention and Control, amended and promulgated on April 30, 2009 and efficient as of May 1, 2009 and most not too long ago amended on July 17, 2012 by the Ministry of Public Security, and the Interim Provisions on Administration of Review and Examination of Fire Prevention Design of Construction Projects promulgated on April 1, 2020, efficient as of June 1, 2020 and amended on August 21, 2023 by the Ministry of Housing and Urban-rural Construction require that (i) the fireplace prevention design paperwork of particular building tasks, resembling accommodations with general flooring space of greater than 10,000 sq. meters, shall be reviewed and inspected by native housing and urban-rural improvement authorities earlier than building; (ii) the development of particular building tasks, resembling accommodations with general flooring space of greater than 10,000 sq. meters be inspected and accepted by native housing and urban-rural improvement authorities from a hearth prevention perspective earlier than completion; and (iii) the general public gathering locations, resembling accommodations, shall full hearth prevention security inspection with the native hearth and rescue division, which is a prerequisite for enterprise opening. Pursuant to those rules, associated accommodations failing to acquire approval of fireside prevention inspection and acceptance or failing hearth prevention security inspections (together with acceptance test and security test on hearth prevention) could also be topic to: (i) orders to droop the development of tasks, use or operation of enterprise; and (ii) fines between RMB30,000 and RMB300,000.

On November 27, 2023, the General Administration of Quality Supervision, Inspection and Quarantine and Standardization Administration authorized and issued Classification and Accreditation for Star-rated Tourist Hotels (GB/T14308-2023), which turned efficient on March 1, 2024. Under Classification and Accreditation for Star-rated Tourist Hotels, all accommodations with operations of over one 12 months are eligible to use for a star ranking evaluation. There are 5 scores from one star to 5 stars for vacationer accommodations, assessed based mostly on the extent of amenities, administration requirements and high quality of service. A star ranking, as soon as granted, is legitimate for 5 years.

On September 21, 2012, the Ministry of Commerce promulgated the Provisional Administrative Measures for Single-purpose Commercial Prepaid Cards, which was amended on August 18, 2016. Pursuant to this regulation, if an enterprise engaged in retail, lodging and catering, or residential providers points any single-purpose industrial pay as you go card to its clients, it shall endure a record-filing process. For a resort primarily engaged within the enterprise of lodging, the combination steadiness of the advance cost beneath the single-purpose industrial pay as you go playing cards it issued shall not exceed 40% of its earnings from its main enterprise within the earlier monetary 12 months.

On April 25, 2013, the SCNPC issued the Tourism Law of the PRC, which turned efficient on October 1, 2013 and was most not too long ago amended on October 26, 2018. According to this regulation, the lodging operators shall fulfill their obligations beneath the agreements with clients. If the lodging operators subcontract a part of their providers to any third occasion or contain any third occasion to supply providers to clients, the lodging operators shall assume the joint and several other liabilities with the third events for any injury brought on to the shoppers.

Regulations on Leasing

Under the Law of the PRC on Administration of Urban Real Estate promulgated by the SCNPC, which took impact as of January 1995 and was amended in August 2007, August 2009 and August 2019, respectively, and the Administrative Measures on Leasing of Commodity House promulgated by the Ministry of Housing and Urban-rural Construction, which took impact as of February 1, 2011, when leasing premises, the lessor and lessee are required to enter right into a written lease contract, prescribing such provisions because the leasing time period, use of the premises, rental and restore liabilities, and different rights and obligations of each events. Both lessor and lessee are additionally required to undergo registration procedures to report the lease with the true property administration division. Pursuant to those legal guidelines and rules and varied native rules, if the lessor and lessee fail to undergo the registration procedures, each lessor and lessee could also be topic to fines, and the leasing curiosity could also be subordinated to an third occasion appearing in good religion.

On May 28, 2020, the Civil Code of the People’s Republic of China (the “Civil Code”) was promulgated by the National People’s Congress, and the Civil Code got here into impact on January 1, 2021 and changed the Property Law, the Contract Law of the PRC and several other different primary civil legal guidelines within the PRC. According to the Civil Code, topic to consent of the lessor, the lessee could sublease the leased merchandise to a 3rd occasion. Where the lessee subleases the lease merchandise, the leasing contract between the lessee and the lessor stays legitimate. The lessor is entitled to terminate the contract if the lessee subleases the lease merchandise with out the consent of the lessor. Where a lessor is aware of or ought to have recognized of the sublease made by a lessee however fails to boost any objection inside six months, the lessor is deemed to have consented to the sublease. Pursuant to the Civil Code, the place a mortgagor leases the mortgaged property earlier than the mortgage contract is concluded, the beforehand established leasing relation shall not be affected; and the place a mortgagor leases the mortgaged property after the creation of the mortgage curiosity, the leasing curiosity will probably be subordinated to the registered mortgage curiosity.