Jin Jiang to acquire 80% of Vienna Hotels for US$289 million | chinatravelnews.com

Major Chinese hotel group Jin Jiang Hotels Group, which has been on a buying spree since late last year, is continuing to grow through acquisitions. The company has invested approximately US$289.8 million for an 80-percent stake in the midrange Vienna Hotel Group and its restaurants, according to ChinaTravelNews. Jin Jiang Hotels outbid major competitor HNA Hospitality Group and property developer giant Sino-Ocean in the acquisition bid,...