Private equity firm Prax Capital is investing US$10m in a Chinese hotel chain, to take advantage of the country's booming tourism market.
Prax will be actively involved in the management of the Blue Horizon chain, based in eastern China's Shandong province, Reuters reports.
Prax aims to make Blue Horizon one of China's top ten hotel operators in the mid- to high-end sector by 2012.
Blue Horizon, founded in 1994, manages 12 hotels and two independent restaurants.
By staff writer
