{"id":6612,"date":"2008-06-16T05:30:05","date_gmt":"2008-06-15T21:30:05","guid":{"rendered":"http:\/\/www.chinahospitalitynews.com\/?p=6612"},"modified":"2008-06-16T05:30:05","modified_gmt":"2008-06-15T21:30:05","slug":"china-telecom-sells-30-share-of-its-hotel-company-for-cny730-million","status":"publish","type":"post","link":"https:\/\/www.chinahospitalitynews.com\/cn\/2008\/06\/16\/6612\/","title":{"rendered":"China Telecom Sells 30% Share of Its Hotel Company For CNY730 Million"},"content":{"rendered":"<p>China Telecom Corporation has put a 30% share of its wholly owned subsidiary Tongmao Hotel Holding Company Limited on sale for CNY730 million.<!--more--><\/p>\n<p>The Tongmao Hotel Holding Company Limited with a registered capital of CNY1.77 billion wholly owns, or holds shares in, 11 hotels around China, each of which exists as a separate legal entity. These 11 hotels are located in major first- and second-tier cities in seven provinces and include two five-star, six four-star, and three three-star hotels &#8212; with a total of 2,456 rooms. As of March 31, 2008, the company's total assets were CNY2.44 billion.<\/p>\n<p>China Telecom says that the intending investor must have experience in hotel investment and management and have a desire for a long-term operation. The purchaser is required to put up an additional investment of at least CNY908 million in cash when it acquires shares in the hotel company.<\/p>\n<p>After the acquisition and investment enhancement are accomplished, China Telecom will remain the controlling shareholder of Tongmao Hotel Holding Company Limited, holding 51% of its shares and the purchaset will hold the balance of 49%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China Telecom Corporation has put a 30% share of its wholly owned subsidiary Tongmao Hotel Holding Company Limited on sale for CNY730 million.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12723],"tags":[13473,14066,13000,18079],"class_list":["post-6612","post","type-post","status-publish","format-standard","hentry","category-english","tag-china-telecom","tag-hotel","tag-investment","tag-tongmao-hotel-holding-company"],"_links":{"self":[{"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/posts\/6612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/comments?post=6612"}],"version-history":[{"count":0,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/posts\/6612\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/media?parent=6612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/categories?post=6612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/tags?post=6612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}