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Article: Starwood Capital Group and Jin Jiang Hotels Enter Strategic Relationship.
- Article from:
- PR Newswire
- Article date:
- December 6, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Partnership Combines One of the Largest Asian-Owned Hotel Brands with Starwood Capital's Extensive Acquisition and Management Experience
GREENWICH, Conn., Dec. 6 /PRNewswire/ -- Starwood Capital Group announced today that it has entered into a strategic relationship with Shanghai Jin Jiang International Hotels (Group) Company Limited ("Jin Jiang"), one of China's largest hotel operators. Under the terms of the agreement, Starwood Capital will make a $30 million strategic investment in Jin Jiang, making Starwood the largest outside shareholder in the company.
Through the new strategic partnership, Starwood Capital and Jin Jiang will work together to ...