Huatian Hotel has announced that it plans to acquire 100% of the shares in Hubei Triumphal Arch Hotel Management Company for CNY295 million.
After acquisition, Huatian Hotel will take over the company's Wuhan Triumphal Arch Huatian Hotel.
The hotel is located in the center of Wuhan city, a 40-minute drive from Tianhe International Airport and 15 minutes from the railway station. Built to five-star standard, the 33-story hotel owns 247 guestrooms, 25 dining balconies, two meeting rooms, a multifunctional room with the capacity of 600 guests, and a over 900-square-meter restaurant.
Prior to this, Huatian Hotel managed Wuhan Triumphal Arch Huatian Hotel for three years. Following this acquisition, the hotel's revenue for 2008 is estimated to be CNY50 million.
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