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BEIJING, March 28 (Xinhua) -- China's leading hotel firm BTG Hotel Group announced on Tuesday that it has completed business integration after acquiring Homeinns Group and will vie for the high-end hotel market.
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BTG Hotel Group spent 11 billion yuan (1.6 billion U.S. dollars) in 2016 taking over Homeinns, one of the largest chain hotel group in China.
In recent years, with the upgrading of domestic consumption structure, China's hotel groups started to flock into the high-end hotel market.
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The group now has 520 mid-priced and high-end hotels in China and the profits from the two hotel types are expected to account for 32 percent of the group's total in 2020.
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