GreenTree to Acquire Majority Stake in Argyle Hotel Management Group (Australia) Pty Ltd.

GreenTree Hospitality Group Ltd. | January 28, 2019

SHANGHAI, Jan. 28, 2019 -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree" or the "Company"), a leading franchised and managed hotel chain in China, today announced that it has entered into a share purchase agreement to become a major shareholder of Argyle Hotel Management Group (Australia) Pty Ltd. ("Argyle"), an owner and operator of hotels in China and South East Asia. Mr. Kevin Zhang, its founder and CEO and his management team will remain one of the largest shareholders of Argyle, and become an integral part of GreenTree's management team. This transaction is subject to customary closing ...