UK – The Chinese hotel chains HNA International Hotels and Resorts and Shanghai Jin Jiang International Hotels are eyeing London as part of an international growth drive. Both are in the market for budget and mid-market hotels, according to a report in the Sunday Times.
Jin Jiang, which is listed on the Shanghai stock exchange and operates 540 hotels in China, is reportedly on the lookout to find a joint-venture partner to buy an existing UK hotel chain. The company has already formed a JV relationship with Thayer Lodging Group in the US to buy Interstate Hotels and Resorts for US$307m.
HNA, part of Hainan Airlines owner HNA Group, owns or manages more than 35 hotels in China.
Britain was accepted onto the Beijing-approved tourist destination list in 2005 and now accounts for 0.5 per cent of the Chinese tourist market.
