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Jin Jiang + Plateno create the 7th group worldwide

2 min reading time

Published on 22/09/15 - Updated on 29/06/23

Jin Jiang Hotel

Jin Jiang International Hotels Development Co. acquired 81% of Keystone Lodging Holding, which owns Plateno Group and 7 Days Group Holdings Ltd.

Jin Jiang is strengthening its position as an international hospitality giant. After Louvre Hotels Group last year, the Chinese group is taking hold of another Chinese group: Plateno Group. It acquired 81% of shares in its owner, Keystone Lodging Holding, for some 8.3 billion yuans (close to 1.3 billion dollars). The latter is thus valued at 10.8 billion yuans, or close to 1.7 billion dollars.

The agreement between the two leaders of the Chinese market is happening two years after its takeover of 7 Days Group by Plateno, making Jin Jiang an even stronger player in the international hotel industry. As of January 1, 2015, Jin Jiang (241,908 operational rooms, including those of Louvre Hotels group bought in 2015) and Plateno (190,000 operational rooms) held ranked 10th and 12th respectively in MKG Hospitality's global ranking of hotel groups in terms of number of rooms (Read our report). Together they have 431,908 rooms and have climbed to seventh place in the global ranking of hotel groups, realized each year by MKG Hospitality.

After putting an end to rumors about the merger, the two players finally realized it. Will they then go so far as to join forces with Starwood Hotels & Resorts, as China Travel News has led us to understand? If so it would become the biggest hotel group worldwide.

Jin Jiang International Hotels

Jin Jiang International Hotels

Hotel Group

  • Jin Jiang International Hotels China
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