The 11th China Chongqing Three Gorges International Travel Festival has brought RMB20 billion investment to 29 key tourism projects in Chongqing, including the construction of six five-star hotels in the municipality.

Of the six new hotels, four will be located in the outlying counties of Chongqing, and this is the first time that five-star hotels will be built in the suburbs of the city.

The contract regarding Chongqing Hotel is a big highlight among all the contracts reached for five-star grade hotels. It will be the only one that will be refurbished into a five-star hotel. Poly Building Corporation will invest RMB700 million on expansion and reconstruction of the Chongqing Hotel.

Hong Kong Ruanya Wangke Investment Company will spend RMB1.3 billion to build an exhibition and conference center that will include a five-star hotel and golf course.

Hong Kong Ronghui will invest RMB3.5 billion into the Lishuwan International Hot Spring City, a five-star hot spring themed hotel.

Guangdong Hengda Group will invest RMB1.3 billion on a resort called Hengda Jinbi Tianxia International Conference and Holiday Resort and RMB1.2 billion on a five-star hotel in the Jiangjin District of Chongqing.

Apart from outside investors, local businesses in Chongqing are also swarming into the hotel industry. Chongqing Longxin Real Estate Development Group will invest RMB150 million in the five-star Rose and Moonlight Hotel.