The Xi'an Tourism Group has announced that it has agreed to acquire the total assets of the Guanghua Hotel in Shaanxi at no cost by bearing responsibility for all its debts and taking on all the hotel's staff.
The group has said that it will invest CNY6 million to set up a wholly-owned subsidiary to acquire and merge with the Guanghua Hotel. This new company is to operate and manage the properties that the group has acquired.
Xi'an Tourism Group said that since the Guanghua Hotel is near to Xi'an railway station this is a worthwhile addition to the group's portfolio.
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