GTI wants to sell its existing restaurant business to GreenTree Hospitality.
Chinese hotel chain shares tumbled about 60% in the past year.
Ramp’s extra push into corporate travel comes as bookings bounce back.
Sumei has over 5,800 hotels in 324 cities.
The number of newly registered companies in the sector grew from 647 in 2011 to 3,933 in 2021.
The startup has established partnerships with over 1000 tourist attractions.
China has already seen US$1.5 billion in hotel and serviced apartment transactions in the first nine months.
About 68.2% of the brand’s consumers are young guests aged under 30.
ChinaTravelNews is a wholly owned subsidiary of
©2022 TravelDaily China.