More Blue Horizons for China

Friday, 12 Jun, 2008 0

SHANGHAI – Prax Capital, a China-focused U.S. private equity firm, wants to become a major player in the country’s hospitality industry.

Reuters reports it has invested US$10 million in a Chinese hotel chain, aiming to tap into the country’s booming tourism market.

Prax Capital will also be actively involved in the management of the Blue Horizon chain, based in eastern China’s Shandong province, to help it become one of China’s top 10 hotel operators in the mid- to high-end sector by 2012, Prax said in a statement.

“The retail chain model within consumer services is a key sector for Prax,” Jeff Yao, managing partner of Prax Capital, said in the statement.

Prax Capital’s previous investments include restaurant chain Little Sheep and Kelti (China), a skincare salon chain operator.

Blue Horizon, founded in 1994, manages 12 hotels and two independent restaurants.



 



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...