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Eastern Air Hotel Group To Sell 6.7% shares
April 21, 2008 |
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Eastern Air Hotel Group is putting 6.7% of its shares up for sale on the Shanghai United Assets And Equity Exchange at a price of RMB32.97 million.
Eastern Air Hotel Group is jointly invested in and built by China Eastern Group and China Eastern Airlines Corporation Limited with a registered capital of RMB470 million. China Eastern Group holds 93.3% of the shares and the remaining 6.7% are owned by China Eastern Airlines Corporation Limited. At present, Eastern Air Hotel Group owns and manages more than 50 hotels in 20 major and medium Chinese cities including Beijing, Shanghai and Xian with a total capital of over RMB2 billion. These hotels include four- and five-star international hotels, three-star business hotels, and budget hotels under several models including franchise and direct-run.
According to data published by the Shanghai United Assets And Equity Exchange, these shares are sold by China Eastern Airlines Corporation Limited.
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