News from a tourism promotion meeting held in Shaanxi is that Shaanxi Tourism Corporation Group plans to transfer share control rights of its subsidiary Xian Tangcheng Hotel Assets Investment Company Limited and its three hotels.
The three hotels include Xian Hotel, Xian Tangcheng Hotel and the Orient Hotel Xian. Shaanxi Tourism Corporation Group regards this plan as one of its most important development strategies.
Xian Hotel, a four-star foreign-oriented hotel, was opened in 1982 with a registered capital of RMB120 million. It has 538 guestrooms and suites, 33 Chinese and Western restaurants, three bars, and 10 meeting rooms.
Founded in 1986, Xian Tangcheng Hotel is a four-star tourist hotel and has 406 rooms and suites. Its registered capital is RMB43 million.
The four-star Orient Hotel Xian with a registered capital of RMB34 million opened in 1992. The 22-story hotel has 293 guestrooms and suites, nine Chinese and Western restaurants, and eight meeting rooms of different sizes.
No details of the share values transferred have been published by the group. According to an initial estimate, the net capital of Xian Tangcheng Hotel Assets Investment Company Limited and its three hotels totals RMB588.67 million.