Corporate Bits | Sofitel launches new wine days

Sofitel is launching the new 2015 edition of its Wine Days during which Sofitel hotels around the world celebrate French wine and art-de-vivre. Sofitel Macau’s programs will be held from today until October 31, 2015 during the traditional wine harvest period in France.
Happenings include a partnership with 2004 Worldwide Best Sommelier Enrico Bernardo, a global study about the art of wine, and in-hotel events such as the Rendezvous bin end sale and the Mistral “Wine Market”, both offering discount prices on wine. In terms of F&B offerings, there’s the Mistral “Cold Cuts Buffet” dinner, Le Chinois Special Set Menu with Wine Pairing and the Sommeliers Selection list from Maison Kressmann at Privé French Restaurant.

Jinjiang International Hotel Management Co Chief Executive Officer Bernold Schroeder

jinjiang buys 81pct stake in 7 days hotel owner keystone

Shanghai Jinjiang International Hotels Development Co. bought a controlling stake in the owner of 7 Days Group Holdings Ltd., two years after the economy hotel chain was delisted in New York.
Jinjiang International will pay 8.3 billion yuan (USD1.3 billion) for 81 percent of Keystone Lodging Holdings Ltd., the owner of Plateno Group.  Plateno took 7 Days private in 2013, with funding from Carlyle Group and Sequoia Capital China. The transaction gives Keystone an enterprise value of 10.8 billion yuan, Jinjiang said in a statement to the Shanghai Stock Exchange Friday announcing the deal.
The Shanghai-based hotel operator, which used to focus on economy hotels, is snapping up properties in China and abroad to counter an industry-wide slowdown. Jinjiang in November 2014 signed a deal with Starwood Capital Group to buy Groupe du Louvre and subsidiary Louvre Hotels Group for an undisclosed price, gaining more than 1,000 hotels in 46 countries.
The latest acquisition will be funded by cash and loans, the company said in a statement. Jinjiang had 8.1 billion yuan in cash as of June 30, according to its Aug. 29 half-­year report. Jinjiang has reached basic financing agreement with some banks.
“This buy marks a major step in our expansion, especially in adding brands in middle to high-end hotels,” Jinjiang said in the statement.