Investment firm Aetos Capital has announced it will invest up to $50m in the franchisor of the Super 8 hotel brand in China.
Super 8, one of the largest economy hotel chains in the world, is franchised by Tian Rui Hotel Corporation, a subsidiary of the Wyndham Hotel Group.
The chain, which began operating in China in 2004, has 49 hotels and has signed agreements to open 67 more.
Tian Rui CEO Mitchell Presnick says Aetos’ investment will enable the company to broaden its opportunities beyond those possible as a pure franchisor and to begin operating and managing hotels.
“By expanding into hotel operations and management, we will capture a wider rnage of the value chain and better serve our franchisees,” he says.
“The combined resources of Aetos and Wyndham will allow us to further leverage our national network of relationships with major developers and operators across China.”