Plateno Group and Jin Jiang Hotels have agreed upon the terms for a merger of their two companies and together foresee the takeover of Starwood Hotels & Resorts.
According to the journal China Travel News, Plateno Group and Jin Jiang Hotels were preparing to sign a merger agreement for their two companies, while keeping operations independent. The two actors would thus be on the point of creating the biggest group of hotels in China with a total of some 475,000 rooms operating or under development, including close to 298,000 for Plateno and 177,000 for Jin Jiang.
Together the two groups would foresee a major operation on the international hotel market. They are said to be studying the possibility of buying Starwood Hotels & Resorts, which would allow them to become the biggest hotel group worldwide.
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