Huang Bonian, owner of the Shanghai Westin, has announced to local media that he will invest US$10 million next year to upgrade his hotel to earn it six stars.

As a real estate investor, Huang holds an optimistic view on China's top-grade hotel market. He plans to transform more than 300 apartment suites in Shanghai Westin into hotel rooms next year.

He also has told local media that his subsidiary Sinar Mas Group-APP has already started seeking top hotels in Beijing and Ningbo.