Owner of Louvre Hotel Group (Campanile, Kyriad, Première Classe…), the Starwood Capital fund preferred the Chinese group to other western buyers.
At the announcement of their merger this autumn, Jin Jiang and Louvre Hotels Group had highlighted the synergies envisaged, the Chinese having no hotel in France while the French has only few establishments in Asia, a region that is booming.
Jinjiang is the leading Chinese hotel group. It was founded in the mid-1990s by the Shanghai City Council, which is still the main shareholder and guarantees its financial base, and has 1,566 hotels and 235,000 rooms.
For more information : La Tribune