China Netcom, one of the major communications service providers in China, has announced that it will sell five of its affiliated star-rated hotels.
The five hotels that China Netcom will sell are reported to be: the five-star Beijing Jingdu Xinyuan Hotel, the four-star Jinan Litian Hotel, the four-star Qingdao Litian Hotel, the four-star Qiqiha'er Guaomain Hotel, and the three-star Tianjin Donglihu Resort. These hotels are said to be located in either busy downtown areas or in scenic spots.
A representative from China Netcom stated that the company is selling the hotel assets to concentrate on its strategy of being a strong telecom service provider. According to the representative, China Netcom has inherited the government's spirit in separating the minor businesses of state-owned companies from their major business and focussing all their resources on developing the major business.