After purchasing 17 hotels from China Post, Hong Kong's VXL Capital is now expected to buy an additional 12 hotels in Sichuan.

An unnamed insider from VXL has told local media that the company is negotiating with two companies. One is Sichuan Yishang Hotel Chains, which has five hotels in Chengdu, and the other one is Chongqing Yonghe Hotel
Chains with 7 hotels in Chongqing.

These hotels will reportedly use a new brand after merging with VXL, and those hotels will target the budget business travel sector. VXL also declared that they had a plan of purchasing more than 300 domestic budget hotels within 3 years to become one of biggest chain hotel groups in China.

VXL Capital says it only acquires sites that enjoy prime locations. It carries out extensive preliminary research before investing in property, and says it insists on a good basket of property diversification. The company identifies underserved, high-potential markets that typically require a visionary business concept and focused investment to create high returns for investors and shareholders.