VXL Capital Limited has announced that it has acquired twelve hotels from the China Post Group for a total of RMB175 million.

This is the third purchase that VXL Capital has made from China Post Group hotels, giving VXL Capital's subsidiary, "U" Inns & Hotels Company Limited, a total of 28 hotels acquired from China Post Group. VXL Capital said that this acquisition is one of the steps in its strategy to build a budget hotel chain brand around mainland China.

The twelve hotels are located in Zhejiang, Sichuan, Gansu, Guangdong, Shandong, Jilin, and Chongqing. VXL Capital will pay the acquisition from internal resources, bank loans, and other means.