Shanghai, May 6 – China’s Jin Jiang has completed the acquisition of Vienna Hotels Group for 1.748 billion RMB (approximately US$270million) on April 28th. It is Jin Jiang’s newest deal after its series of acquisitions of Interstate, Louvre (US$1.49billion) and Plateno (US$1.3billion).

It is also said that the negotiation with Accor is expected to close in May and Jin Jiang is likely to have major influence on the board of Accor, which will obviously further Jin Jiang’s ambition for global platform.

Consolidation becomes the inevitable trend, especially in the era of Internet, said Mr. Teddy Zhang, Global Managing Director of The Thayer Group, who has been advising Mr. Yu Minliang, the Chairman of the Jin Jiang for the acquisitions since Interstate.

“As we know hotels rely on third party distribution channels, even more so in China and by acquisitions it is a way to regain the balance and pricing power,” Teddy explained the logic behind.

As a leading Hotel group in China, Jin Jiang’s strategies and layout is specifically clear and farsighted over the past decade: first established China’s first and only full fledge next- generation of CRS and then privatized America’s largest third-party hotel management group Interstate Hotels and Resorts and introduced the world-class management.

After the two steps, Jin Jiang, through both domestic and overseas acquisitions and integration, consolidated its leading status in China meanwhile expand its international footprints.

The next step of Jin Jiang is to continue to integrate what they have on the plate and further its global ambition. Teddy pointed out that one thing for sure is that it will be a tremendous challenge and no one has done anything like this magnitude in such short period of time.