Shimao Teams Up With Starwood Capital To Set Up China Hotel Joint Venture

Shimao Property Holdings Ltd, a Shanghai-based property developer listed on the Hong Kong Stock Exchange, and Starwood Capital Group, a U.S. private investment firm, have announced plans to jointly establish a new hotel joint venture in China.

Under the terms of the agreement, Shimao will hold a 51% stake in the joint venture, while Starwood will own the remaining 49%. The venture plans to focus on developing and operating news hotels in China, according to a company announcement.

"The joint venture will focus on maximizing the benefits that can be derived from the intangible assets, consolidating the group's sustainable commercial development while ensuring profitabili...

This news article comes via , who is the copyright owner of this information and news. has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network

You May Also Like