Shanghai Daily News

Jinjiang International Holdings Co Ltd, the nation's biggest hotel and tourism group, spent 230 million yuan (US$28 million) purchasing a five-star hotel and establishing a new branch company in Wuhan, Hubei Province. It will also invest 130 million yuan to rebuild the hotel into Wuhan's best. So far the Shanghai-based Jinjiang International fully or partially owns four five-star hotels outside Shanghai, which spread in Beijing, Kunming of Yunnan Province, Wuxi of Jiangsu Province and Wuhan.