Thailand TCC Group has signed a contract with Industrial and Commercial Bank of China Yunan Branch to acquire Bank Hotel Kunming, a five-star hotel belonged to ICBC, for RMB210 million.

The selling of Bank Hotel Kunming is part of ICBC's effort in disposing its non-financial assets after it was listed in

both Hong Kong and mainland China. Bank Hotel Kuming is the second hotel that Thailand TTC has acquired in Kunming, after its first purchase of the 4-star Sakura Hotel Kunming. With this transaction, Thailand TTC's investment in Kunming has exceeded US$40 million.

TTC says has made this acquisition because it attaches great importance to the local tourism resources in Yunnan.

Bank Hotel Kunming is a comprehensive hotel providing catering services, entertainment, accommodation and business services. It offers 285 well furnished guest rooms including a Presidential Suite, executive floors, Japanese Floor, and a non-smoking floor.