Luxury resorts operator Banyan Tree said on Friday that its wholly-owned subsidiary will make a $2.5 million investment in China.
Banyan Tree Hotels & Resorts has entered into a joint venture agreement with Jiuzhaigou HonYee Investment Company.
Both sides will develop a hotel, inclusive of villas, for sale and leaseback in China’s Jiuzhaigou county.
Banyan Tree will take a minor stake of about 20 percent in the joint venture company to be incorporated in China.
The site is located at Baohua Village in Sichuan province.
Source : Today – 3 Oct 2009
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