Thai TCC Group Continues Investment In Yunnan Hotels
The Thailand-based TCC Group will invest CNY400 million to rebuild Bank Hotel Kunming and Sakura Hotel in Kunming, Yunnan. This brings TCC's total investment in Yunnan up to more than CNY1 billion.
Jiang Bo, the general manager of Bank Hotel Kunming and Sakura Hotel, said that TCC has already signed an agreement with InterContinental Hotels Group to rebuild Bank Hotel into an international high-end business hotel under the brand of Crowne Plaza. Sakura Hotel will be built into a mid-range hotel under the international management model.
TCC acquired the two hotels separately in August 2006 and September 2006. It is one of the most influential consortiums in Southeast Asia and was established by Su Xuming in 1960.
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