Guangzhou Dongfang Hotel
The Guangzhou Municipal Government has agreed to transfer a 51.55%-stake in Guangzhou Dongfang Hotel, which is listed in Shenzhen, from state-owned Yue Xiu Enterprises Holdings to Guangzhou Lingnan Group.
This transfer will consolidate Yue Xiu's hotel assets such as Guangzhou Dongfang Hotel and Oriental Resort under Lingnan which also owns hotel assets such as the Garden Hotel, China Hotel and Guangzhou Hotel.
It was reported that this reorganisation will facilitate the upgrading of facilities and services in order to compete against the ten five-star international hotels currently under construction in the city.
Editor: canton fair