Touraust to Manage Shanghai Hotel
Sydney-based Touraust Corporation is to manage a new hotel development in Shanghai
SYDNEY, Australia, March 15, 2006. Touraust is the parent company of Australian-owned Constellation Hotel Group (CHG), which manages the Chifley, Australis and Country Comfort brands in Australia.
The new Touraust venture, Australian Hotel Management Holdings, is in partnership with Sino Financial Group, which specializes in the Chinese property sector.
Australian Hotel Management Holdings will work in China, managing the 1300 room resort slated to open in early 2007. "This is a big step for CHG, but we are confident we have chosen our partner wisely and we are even more confident in our own ability to make this project extremely successful," said Touraust Executive chairman Darryl Courtney O'Connor in a statement.
"The development of this business in China is another step along the way for CHG, looking for projects outside Australia. We are a relatively small company in the hotel management business, which means we can be very flexible and can move quickly when good opportunities arise," he added.
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