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Rreef, the real estate and infrastructure investment management arm of the Deutsche Bank Group, has established a US$550 million joint venture with private equity firm H&Q Asia Pacific to develop Hilton Garden Inn Hotels in China, the China Business Herald reported. It has licensed the rights from Hilton Hotels Corporation, which is developing the brand as a serviced hotel offering. The joint venture plans to eventually manage more than 25 hotels under the brand in Shanghai and surrounding cities, plus Beijing and Tianjin. It has also said it will acquire and convert at least 15 hotels in the first three years.

Rubbish truck factory to be built in Qingdao

June 14,2007

By STAFF EDITOR

Japanese Fuji Heavy Industries and China International Marine Containers will establish a factory in Qingdao, Shandong province, to make rubbish trucks. Three shareholders will invest US$18 billion in the factory, with China International taking a 51% stake, Fuji Heavy 29% and Sumitomo Corp of Japan 18%. Demand for rubbish trucks and other sanitation infrastructure is escalating in China as urbanization takes hold. Fuji Heavy is trying to double its sales of rubbish trucks in China to 10,000 units in 2011.

Reduced profit-margins challenge budget hotel survival

April 29,2007

By AMY CHEUNG

Ever since Home Inns debuted on the NASDAQ stock exchange last year, the budget hotel industry has become the toast of the town, fuelled by interest from media and investors alike. However, according to China Business News, a report released April 25 by the China Hotel Association (CHA) suggests rockier times lie ahead.

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Today’s Daily Briefs E-Mail

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