HNA Hotels & Resorts Plans To Buy Two Hotels In Shanghai Xintiandi

2009年09月29日旅业编辑 756 Views Conrad, HNA, Jumeirah, Li Xing, Shanghai, Shui On, Skyfame, Westin Guanzhou, Xintiandi

HNA Hotels & Resorts is planning to acquire Jumeirah HanTang Xintiandi and Conrad Shanghai, two luxury hotels in Shanghai Xintiandi, the construction of both of which has been stopped due to the financial crisis.

These acquisitions are said to involve a total of CNY5 billion. According to Gao Tianming, president of HNA Hotels & Resorts, the transaction is still under consultation.

The investor and developer of the two hotels is Shanghai Li Xing Hotel Company, a joint venture of Shui On Group and Shanghai Hotel Investment Company. The two hotels were scheduled to open in 2008 but the openings were delayed due to impact of the financial crisis.

A week before this, HNA Hotels & Resorts signed an agreement with Skyfame Realty (Holdings) Limited to conditionally acquire all the equity of Chengjian Tianyu for a price of CNY1.1 billion. The main assets of Chengjian Tianyu include The Westin Guangzhou and Skyfame Building (not including the floors from the 17th floor to the 22nd floor which have been sold).