[photopress:super8_1.jpg,full,alignright]When writing about hotels one often finds that there are five layers of involvement and following it can be complicated.
Basically the story is that $50 million is being invested in the Super 8 brand of affordable hotels in China. But to be technically correct the first sentence should read: Wyndham Hotel Group, a subsidiary of Wyndham Worldwide Corporation, of Parsippany, New Jersey (a most splendid name for a town which I plan to visit one day) has announced that Aetos Capital is committed to invest up to $50 million in Tian Rui Hotel Corporation, master franchiser of the Super 8 brand in China, in order to accelerate its hotel development efforts.
Pretty much the same thing but it covers the complex detail. And most hotel chain deal are like that.
Wyndham Hotel Group’s Super 8 brand is one of the largest economy hotel chains in the world. It came to China in 2004. Tian Rui Hotel Corporation has opened 49 Super 8 hotels in China — 4,700 rooms — and has signed agreements to develop an additional 67 hotels. The Super 8 brand already is among the largest economy chains in China.
The World Travel & Tourism Council has predicted that China will become the second largest travel and tourism economy in the world by 2016. For economy hotels which are well run and which have a known brand the direction can only be up.
Source: CNN Money