Search company, investor...

Kaiyuan New Century Hotel Group

Submit Your Analyst Briefing

kaiyuanhotels.com

Founded Year

1988

Stage

Acq - Pending | Acquired

About Kaiyuan New Century Hotel Group

Kaiyuan New Century Hotel Group (HK: 1158) is a private hotel group in China with a portfolio of upscale to mid-tier brands, predominantly operating in eastern China and with a growing international presence.

Headquarters Location

No.818, Xinzhong Road Xiaoshan District

Hangzhou, Zhejiang ,

China

+86-571-82888888

Missing: Kaiyuan New Century Hotel Group's Product Demo & Case Studies

Promote your product offering to tech buyers.

Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions.

Missing: Kaiyuan New Century Hotel Group's Product & Differentiators

Don’t let your products get skipped. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).

Latest Kaiyuan New Century Hotel Group News

China's New Century Hotel Accepts PE Offer to Delist From HKEX due to Covid-19 China's New Century Hotel Accepts PE Offer to Del...

Apr 19, 2021

(Yicai Global) April 19 -- New Century Hotel Management, the Chinese owner of hospitality brands such as Grand New Century and Wonderland Resorts, will end its two-year journey and delist from the Hong Kong Stock Exchange due to the impacts of the Covid-19 pandemic. Zheng Nanyan, co-founder of budget hotel chain 7 Days Group Holdings, will become the new director of the mid to high-end hotel chain, a person familiar with the matter told Yicai Global. New Century Hotel's shareholders have accepted Kunpeng Asia's privatization offer, the Zhejiang province-based company said in a statement on April 14. The offer price is HKD18.15 (USD2.30) per share, almost 25 percent higher than the closing price on Jan. 18 when the firm received the offer. The hotel operator got listed in March 2019. The offeror proposed to pay HKD1.51 billion (USD194.3 million) in the deal that valued New Century Hotel at HKD5.2 billion, Bloomberg reported on Jan. 20. Kunpeng Asia is a Hong Kong-incorporated firm controlled by Sequoia China and Ocean Link. The latter private equity fund also led the privatizations of Chinese classifieds giant 58.Com and vehicle rental firm eHi Car Services. New Century Hotel's original team of founders may gradually disappear and its strategy will be adjusted with the new director as the most important thing is to adapt to the business environment, insiders told Yicai Global. Zheng, former Trip.Com vice president in charge of marketing, founded 7 Days in 2005. After that, he established Plateno Group, managing dozens of hotel brands. Jin Jiang International Holdings acquired Plateno in September 2015. New Century Hotel made almost 41 percent less in gross profit at CNY335 million (USD51 million) last year from 2019, according to its earnings report. Its revenue fell by 17 percent to nearly CNY1.6 billion (USD245 million). The firm closed many hotels last year. New Century Hotel's stock price [HKG: 1158] was 0.1 percent up at HKD18.02 this afternoon. Editor: Emmi Laine, Xiao Yi

Kaiyuan New Century Hotel Group Frequently Asked Questions (FAQ)

  • When was Kaiyuan New Century Hotel Group founded?

    Kaiyuan New Century Hotel Group was founded in 1988.

  • Where is Kaiyuan New Century Hotel Group's headquarters?

    Kaiyuan New Century Hotel Group's headquarters is located at No.818, Xinzhong Road, Hangzhou.

  • What is Kaiyuan New Century Hotel Group's latest funding round?

    Kaiyuan New Century Hotel Group's latest funding round is Acq - Pending.

  • Who are the investors of Kaiyuan New Century Hotel Group?

    Investors of Kaiyuan New Century Hotel Group include Sequoia Capital China, Ocean Link and General Atlantic.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.