Hong Kong-based New World Hospitality has announced a USD160 million plan to expand the number of hotels under its Pentahotels brand to 30 in the next five years.The expansion will focus on the mainland and cities elsewhere in Asia, said chief executive Sonia Cheng.
She said New World Group would own 30 percent of the hotels and other developers the rest.
Pentahotels, a brand launched in Europe, now has two hotels in Asia – in Shanghai and Beijing.
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(Source: scmp.com)