RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Leisure, Fun & Tourism Tools: Save | Print | E-mail | Most Read | Comment
Kaiyuan taps into tourist businesses outside hotels
Adjust font size:

Kaiyuan Group, China's largest privately-owned hotel management company, plans to diversify into tourism-related business after securing a US$100-million investment from the Carlyle Group, and may go public as early as next year.

 

The Zhejiang-based company, whose current operations span real estate development and hotel management, has already received an initial 340 million yuan (US$45.3 million) from the US private equity firm. It also hopes to raise funds from an initial public offering in Hong Kong in 2008 or 2009, China Business News reported yesterday, citing group president Chen Miaolin.

 

Carlyle will likely send about 400 million yuan to Kaiyuan early next year, Chen said.

 

According to Kaiyuan's plan, the company will invest in domestic tourism spots and tap into the complete tourism industry chain, Chen told the paper without elaborating.

 

For its hotel business, Kaiyuan plans to open five or six hotels annually over the coming years and hopes to increase the number of hotels it manages to 35 by 2010, and further double the number a few years afterward, Chen said.

 

The company will also increase franchising of its brand, Chen said. Hotels in Kaiyuan's chains - more than 20, including those under construction - are mainly built and owned by the group. Kaiyuan is looking for a strategic investor to take up to a 40-percent stake.

 

(Shanghai Daily November 20, 2007)

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号