Sages Hotel Group raises US$4.8 million
The Sages Hotel Group received a joint investment of RMB30 million from Time Warner Capital and Shanghai Xianyi Capital
The Sages Hotel Group received a joint investment of RMB30 million (approx: US$4.8 million) from Time Warner Capital and Shanghai Xianyi Capital, it announced at a company annual Spring Festival event in Shenyang. Sages Hotel Group will complete its plan to develop a chain of 100 hotels in 2015 and take the company public within four years, its CEO Dongzhe Jin said.
The Sages Hotel Management Group is a boutique hotel group with headquarters in Shenyang, Liaoning province.
Its hotel brands include Tanghe Yasha Resort Hotel brand that propagates smart lifestyle philosophy, The Sages Boutique brand that promotes the essence of Chinese culture and the Neoclassical Tangfeng brand（Translation by David)