“Many Chinese travelers see the hotel they stay in as a symbol of career status.“
Jin Jiang reported a 41.48% increase in revenue and 59.1% increase in net profit in Q1 y-o-y, at RMB909 million and RMB154 million respectively.
After concluding a US$442 million purchase of Hilton International’s Hilton Sydney, Bright Ruby is also looking to buy The Westin Sydney for US$400 million.
Far East Consortium International’s chairman is in negotiations over a AUD$75 million deal to purchase the five-star Pullman Cairns International.
New World Development announced it will transfer the full ownership of three Hong Kong hotels to a joint venture the HIP Group.
200 Hunan hotels have suspended supply to Qunar for offering unauthorized 50% discounts on hotel rates on its platform.
SOCAM Development of the Shui On Group sold 131 units with parking of the Shanghai Pudong Four Seasons Hotel and Four Seasons Apartments.
Huatian Hotel Group recorded RMB263 million operational revenue and RMB48.7938 million net profit, down 39.51% and 28.03% y-o-y respectively.
