Kingdom to invest in China hotels

16th Jul 2007

Kingdom Hotel Investments could develop a network of up to 15 hotels in China’s second and third-tier cities over the next five years, according to a top official at the Saudi Arabia-based firm.

“We see a lot of growth in the second and third-tier cities in China, supported by a very strong and well-demonstrated government initiative to decentralize the economy into second -tier cities,” The Hong Kong Standard newspaper quoted KHI chief executive Sarmad Zok as saying.

The plan could cost $870 mn, based on the size of the group’s first investment in China, the paper said.



Recommended for you

Follow Breaking Travel News

Travel Events Calendar

Media Partnerships

Global Restaurant Investment ForumThe Hospitality & Tourism SummitCATHIC
ITB AsiaChina Outbound Travel & Tourism MarketThe Travel Marketing Store
Serviced Apartment SummitWorld Travel MarketIMEX
AHICWTTCRoutes Online
UBM Aviation