Business Intelligence on Retailing, Franchising, and Consumerism in China

Jin Jiang Inn Receives Additional Investment

Shanghai Jin Jiang International Hotel Development Limited Company has signed an agreement with its shareholder Shanghai Jin Jiang International Company for increasing the investment of its economy franchised hotel brand, Jin Jiang Inn.

The agreement says that both Jin Jiang Hotels and Jin Jiang International will increase the investment on Jin Jiang Inn according to their original investing proportions in Jin Jiang Inn. Jin Jiang International will input an investment of RMB1.1 billion with a registered capital of RMB740 million, and Jin Jiang Hotels will inject RMB275 million with a registered capital of RMB185 million.

About RMB580,000 of the investment will be paid by cash, and the rest will be paid by transferring the assets of shares of some budget hotels. The assets involved were worth RMB274 million by the end of October 2006.

Jin Jiang International says that Jin Jiang Inn Investment & Management Company mainly focuses on the investment of budget hotels in the Jin Jiang Inn chain. In order to expand its business in mainland China, Jin Jiang Inn Investment & Management Company needs its shareholders to provide additional capital.

Jin Jiang Inn was founded in 1996 and was the first budget hotel in China. It now has 194 chain outlets in China and plans to develop 500 more in China within three years.

Be the first to comment on "Jin Jiang Inn Receives Additional Investment"

Leave a comment

Your email address will not be published.


  Other China News

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco