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Park Hotel Group Expands In China
January 15, 2008 |
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The Park Hotel Group has purchased Sheraton Wuxi Hotel & Towers and plans to expand into another 10 hotels in major cities of China within five years.
The 417-room Sheraton Wuxi Hotel & Towers has been renamed Grand Park Hotel Wuxi, which is the only five-star hotel in Wuxi, located at the center of the city.
The sale of Sheraton Wuxi Hotel & Towers is the second deal for Park Hotel Group in China, after the Grand Park Hotel Kunming opened in November 2007. The group aims at building itself into one of the top hotel brands in the Asia-Pacific region.
The Singapore-based Park Hotel Group was founded in 1961. Besides two properties in China, the group owns one hotel in Hong Kong, and three in Singapore including one hotel scheduled to be opened by 2008.
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