China Economic Review
Charting China’s changing economic terrain · Since 1990
Ctrip.com to buy hotel stakes
March 23, 2010
CTrip.com is, in a sense, putting itself in competition with its clients. It is a very unusual move for an online service provider to buy into its clients so that charges of favoritism could be laid. Yet Ctrip.com has aquired stakes in Hanting Inns and BTG-Jianguo Hotel.
On the same day that sale was announced Hanting Inns & Hotels submitted an application for an initial public offering to the US Securities and Exchange Commission.
Alibaba.com reports that BTG-Jianguo Hotels & Resorts currently operates 71 hotels with 21,358 guest rooms and aims to have more than 100 hotels by the end of 2012.