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Aetos Capital said to prepare sale of Super 8 China hotel chain

12/10/2015| 6:33:42 PM| 中文

Aetos Capital Real Estate is preparing a sale of its controlling stake in the Super 8 budget hotel chain in China, which could fetch as much as $250 million.

Aetos Capital Real Estate is preparing a sale of its controlling stake in the Super 8 budget hotel chain in China, which could fetch as much as $250 million, people with knowledge of the matter said.

Aetos Capital, the New York-based investment firm, will soon choose advisers to manage the sale and could start reaching out to potential buyers early next year, said the people, who asked not to be identified as the information is private. It has a majority interest in the Chinese operations of the Super 8 hotel brand, which is owned by Wyndham Worldwide Corp.

Chinese hospitality companies such as Shanghai Jinjiang International Hotels Development Co. and China Lodging Group Ltd. have benefited from rising travel demand as the country’s middle class expands. The average per capita disposable income in the world’s second-largest economy rose 7.7 percent to 16,367 yuan ($2,550) in the first three quarters of 2015 from a year earlier, according to China’s National Bureau of Statistics.

Aetos Capital agreed in 2007 to invest as much as $50 million in Tian Rui Hotel Corp., the master franchisor of the Super 8 brand in China, according to a press release distributed by PRNewswire at the time. Super 8 currently operates almost 1,000 hotels in China, its local website shows.

A representative for Aetos Capital in Hong Kong didn’t immediately return a phone call seeking comment. 

Jinjiang said in September it will pay 8.3 billion yuan for a majority stake in the owner of the 7 Days Group Holdings Ltd. economy hotel chain. BTG Hotel Group Co., based in Beijing, agreed Monday to acquire control of Nasdaq-listed Homeinns Hotel Group for about $1.2 billion, data compiled by Bloomberg show.

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TAGS: Super 8 Hotel | Jin Jiang Hotels | 7Days Inn
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