Want Want China Holdings Limited spent CNY250 million for the acquisition of Qianhe Hotel in Shanghai, and has renamed it San Want Hotel Shanghai.
After being upgraded from the original three-star level to five-stars and a soft opening, San Want Hotel Shanghai is scheduled to be formally opened next month. The hotel is located on the Yishan Road, Shanghai, near to the business center of Xuhui District and the Shanghai Everbright Convention & Exhibition Center, as well as the Subway Line 9. It has 383 guestrooms, a ballroom with a capacity of 600 guests, and is surrounded by a 3,000-square-meter green area.
San Want Hotel Shanghai is the first mainland Chinese hotel that Want Want China has invested in. In the last three years, the group has also acquired three hotels in Nanjing, Huaian, and Xining, all of which are still under construction and will be opened within the year. The group says that it plans to open 40 hotels by acquisition or self-building in mainland China. Currently, the group is reported to be negotiating with some domestic attractions such as Zhangjiajie and Huangshan Mountain with the intention of participating in the development of the local tourism industry.