New China hotel JV formed
Shanghai – 30 March 2017 –
Shimao Property Holdings and Starwood Capital Group announce that controlled affiliates of the two companies will establish a new hotel joint venture based in China.
Under the terms of the agreement, the venture will be owned 51 percent by Shimao and 49 percent by Starwood Capital Group.
The joint venture plans to focus on developing, operating, and branding assets in the rapidly growing hotel market in China via both management contracts and leasing agreements.
A partnership between two companies offering such deep real estate expertise represents a milestone in the Chinese … Read More