Huatian Hotel has announced its development aims for 2008 with its main business revenue to reach more than RMB2 billion.
The company has said that it plans to add three high-end hotels to its portfolio this year. Of these Huatian Great Hotel, Changchun has opened and a new business hotel is scheduled to open in Beijing this May. Huatian Hotel will also expand from twenty to thirty budget hotels this year. In addition, the company is developing a project model combining hotels and real estate in Changsha, Xingsha, and Yiyang.
Huatian Hotel plans to expand its holding share of its subsidiary Huatian Inn Hotel Management Company an additional investment of RMB80 million. This increases the registered capital of Huatian Inn Hotel Management Company from RMB20 million to RMB100 million.
In 2007, Huatian Inn signed-up a total of 17 budget hotels with annual revenues totaling RMB10.36 million.