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Hotel Inns May Buy Motel 168

News According to several published reports, Home Inns & Hotels Management Inc. has been chosen as the preferred bidder in the auction for Shanghai Motel Management Co.

This February Morgan Stanley real estate fund decided to sell its stake in a chain of hotels in Shanghai. 59% stake in Shanghai Motel Management Co. was initially offered for US$ 1 billion. However, that price was too high and no one offered the asked sum. Home Inns & Hotels Management Inc. has made a bid of approximately US$500 million.

The information from unofficial sources states Morgan has already made its choice and it’s Home Inns, not China Lodging Group Ltd, the second potential buyer, which is also known by operating Hanting Hotels brand.

Shanghai Motel is one of the largest players on the area of China’s budget accommodations. The company owns a popular brand China’s Motel 168. Currently the number of properties run by this company estimates 260 hotels in China.

Among other serious players interested in the purchase of Shanghai Motel Management are such internationally famous hoteliers as Accor SA, Jin Jiang International Hotels Group, and 7 Days Group Holdings Ltd.

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