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Jin Jiang ready to invest up to 1.21 Bn€ for Louvre Hotels Group

Announced last November, the takeover of Louvre Hotels Group from Starwood Capital should cost the Chinese group Jin Jiang International between 960 million and 1.21 billion euros.

Jin Jiang International has announced it is ready to spend up to 1.21 billion euros for the acquisition of Louvre Hotels Group from the American investment fund Starwood Capital. The amount of the transaction should be between 960 and 1.21 billion euros, financed by the Chinese group with internal resources and bank loans.

Announced in mid-November (read our article), the takeover of Groupe du Louvre and Louvre Hotels Group will allow Jin Jiang International to strengthen its presence on the international market and join the Top 10 in the global ranking of hotel groups in terms of number of rooms that is realized each year by MKG Hospitality. It will thus add a portfolio of more than 1,100 hotels and 91,154 rooms in 46 European countries to its international network, under the brands Première Classe, Campanile, Kyriad, Royal Tulip, Golden Tulip, Tulip Inn and Concorde Hotels.

Louvre Hotels Group and Jin Jiang International had already implemented a commercial partnership in November 2011 with an aim to grow the visibility of both groups on their respective markets.

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