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GreenTree Seeking Budget Hotel Expansion In China
February 14, 2007 |
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GreenTree Inn Hotel Management Group says that it will invest an additional of US$120 million to expand its budget hotel business in China.
GreenTree Inn introduced its economy hotel brand to China in 2004 and it has opened 20 GreenTree Inn hotels in China to date. GreenTree Inn's budget hotels target business clients and it hopes to increase its total hotel in China to 225 by the end of 2007 and to 500 by end of 2008.
GreenTree Inns Hotel Group Management Company is a foreign owned hotel group invested in by American Pacific Homes, Tone Yee investment, and some other international companies based around the world.
China's budget hotel sector is booming with competitors like Motel 168, Home Inn, Jin Jiang Inn, Express by Holiday Inn, and others flooding the market.
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