[photopress:Hotels_Top_Star_Shenzhen.jpg,full,alignright]Home Inns, one of the major budget hotel chains in China, has acquired its rival Top Star for RMB340 million. This will enable Home Inns to expand its hotel properties to 330 in more than 80 cities across the country.
Home Inns said it would take over Top Star’s operations from November.
Top Star was established in 2005 amd operates a chain of 26 hotels in 18 cities. The one in our illustration is in Shenzhen.
Wang Binquan, deputy director of the executive management department of Motel168 hotel, another major budget hotel chain based in Shanghai, said: ‘It’s quite natural to see more acquisitions among different brands as the budget hotel industry begins to mature.’
Wang expects a major acquisition trend in the budget hotel industry after the Shanghai World Expo as visitors and travelers to Shanghai begin to level off.
Source: China Daily