Chinese firm Home Inns & Hotel Management has bought the Top Star hotel chain, which consists of 26 economy hotels with 4,200 rooms across 18 Chinese cities.
The acquisition takes Home Inns’ portfolio to more than 320 hotels in more than 80 cities.
Home Inns was established in 2002 by the Beijing Tourism Group and Ctrip, a leading consolidator of hotel accommodations in China.
It has developed 134 chain hotels and is the fastest-growing economic hotel brand in China.
Home Inns plans to retain the Top Star Brand and will take over operation of the chain on 1 November.
The deal, with an aggregate value of RMB172m, is expected to be finalised in the fourth quarter.
By staff writer