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USD65 Million International Investment For 7 Days Inn

2008年10月27日旅业编辑 466 Views 7 Days Inn, Actis, budget hotel, e-commerce, emerging markets, investment, IT, private equity, Warburg Pincus

Chinese budget hotel chain brand 7 Days Inn Group has obtained an investment of USD65 million from two international financial companies.

Zheng Nanyan, CEO of 7 Days Inn Group said that Actis and Warburg Pincus LLC have led a USD65 million investment in the 7 Days Inn Group and the two companies will have seats on the group's board but will not participate in the management of the group.

Actis is a private equity investor in emerging markets, and Warburg Pincus is co-investing alongside Actis in the transaction.

It is reported that the funds from Actis will be used to drive the 7 Days Inn's national hotel network by expanding in all the first- and second-tier cities around China, and will also be used to enlarge the group’s investment in the IT system, as well as strengthening the construction of its e-commerce platform.