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January 2, 2012

7 Days Group completes Huatian Star acquisition

Chinese hotel chain 7 Days Group Holdings has completed its 100% acquisition of Hunan Huatian Star Hotel Management from Huatian Star's parent company Huatian Hotel Group for CNY136m ($21m).

Chinese hotel chain 7 Days Group Holdings has completed its 100% acquisition of Hunan Huatian Star Hotel Management from Huatian Star’s parent company Huatian Hotel Group for CNY136m ($21m).

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The hotel chain now has ownership of 21 leased-and-operated Huatian Star hotels in locations spread across 12 cities in China, including Changsha, Wuhan and Zhengzhou.

The 7 Days Group has taken operational responsibility of the hotels and completed the conversion process for the majority of them.

7 Days Group CEO and director Alex Nanyan Zheng said the acquisition is in line with the company’s expansion strategy.

The acquisition will also complement the hotel’s organic growth, further expanding its footprint in China as the country’s economy hotel market continues to consolidate.

"We believe that the current market environment may provide additional acquisition opportunities at reasonable prices," said Zheng.

As of 30 September 2011, 7 Days Group had 838 hotels in operation, consisting of 364 leased-and-operated and 474 managed properties, representing a total of 83,487 rooms covering 127 cities.

There were 251 hotels in the development pipeline during the same period, including 43 leased-and-operated properties under conversion and 208 managed hotels contracted but not yet opened.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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