Hanting Acquires Two Hotels In Shanghai

Hanting Hotels has acquired two hotels in Shanghai and will rebrand them with the group's high-end brand.

The two hotels are the Hotel General and the Western Dream Business Hotel. The Hotel General is located on the Kaixuan Road, Yan'an West Road. It was positioned as a business hotel designed to four-star standard and consisted of four three- to five-story buildings with a total of 223 guestrooms including 30 single rooms, 165 senior rooms, ten deluxe rooms, and 18 suites.

The Western Dream Business Hotel which was positioned as a foreign-oriented business hotel is located on the Cangwu Road, Caobao Road, ten minutes drive from the Xujiahui Commercial Area, and about 15 minutes from Hongqiao International Airport.

Zhang Tuo, COO of Hanting Hotels said that Hotel General had been open for more than two years and its occupancy rate was only 30% when Hanting acquired it. He told local media that the prices for the acquisition of these two hotels were between CNY50 million and CNY100 million.