How one of Beijing’s most luxurious hotels is becoming a premium retirement home

Legendale Hotel Beijing, a luxury property situated in central Beijing, has ceased operations and is set to undergo a transformation into an exclusive nursing facility. An insurer revealed that the entrance fee exceeds 18.88 million yuan (approximately US$2.8 million). The Dongcheng district housing authority disclosed that Ping An Life Insurance, a subsidiary of China's leading insurance conglomerate, has joined forces with the hotel's developer to oversee its redevelopment.

Situated in close proximity to Peking Union Medical College Hospital, a renowned medical facility, and the Forbidden City, the establishment was originally designed in an elegant European architectural style. Legend Development, a Macau-based entertainment firm, previously managed the hotel. The establishment formally ceased accepting guests on November 7, 2022, as per its closure announcement.

According to an anonymous industry insider, the senior living complex is undergoing renovations and is slated to commence operations next year. This development adheres to the standards set by leading senior facilities in Japan and will offer cultural activities, including performances by acclaimed musicians. Admission for non-residents attending membership events will incur a premium of 10 million yuan.

The hotel, which opened in 2008, had previously hosted dignitaries during the inaugural Beijing Olympic Games. Prior to this, the property was reportedly on the market for over 3 billion yuan. Property expert Yan Yuejin from E-house China Research and Development Institute in Shanghai noted that while Beijing offers ample tourist attractions and business opportunities, the hotel market may face challenges due to the high-end nature of certain properties.

He highlighted the scarcity of high-end nursing homes in downtown Beijing, underscoring the project's focus on attracting local residents despite the area's bustling commercial environment and limited green spaces.