Plateno Group’s Portofino Hotels announced the launch of luxury seaside resort hotel projects in Boracay in the Philippines and the Maldives.
HNA's acquisition price was not disclosed but estimates based on Red Hotel’s US$7.21 share price at the end of trading on Tuesday put it at US$21.5 million.
Ten out of 17 hotels opened in China last May were international luxury hotels, according to the May 2015 China Hotel Industry Data Report by Meadin.com.
Shimao Group chairman Wing Mao Hui director once again claims Shimao Property will restart a shelved hotel spinoff in HK.
Chinese investors are counting on this enormous Chinese market to form the customer base that will enable them to expand in the overseas hotel industry.
Plateno Group will expand the coverage of its 7Days Inn brand to 4,500 hotels of the brand in all Chinese cities and towns in three years.
Part of a three-part special series, ChinaTravelNews takes a look at the Travel industry brands that made the list. Part 2 takes a look at hotels, with three making the list.
The 11,369 hotels in operation reported RMB22.253 billion from F&B and RMB20.705 billion from room sales for total revenue of RMB49.168 billion.
