05:55 AM EDT, 08/21/2024 (MT Newswires) -- NIP Group ( NIPG ) said Wednesday it has signed a strategic partnership with Homeinns Hotels Group to establish a joint venture that will develop and operate esports-themed hotels in China.

The partnership will span seven years through 2031 and the venture's first esports hotel is targeted to open "within the coming months," NIP Group ( NIPG ) said.

NIP Group ( NIPG ) also said it will hold a controlling stake in the joint venture and oversee investment, operations and management.

No financial details were disclosed.