Another large group headquarters that has been using the "Tongli" communication system for many years has set foot in the hotel industry!

Another large group headquarters that has been using the "Tongli" communication system for many years has set foot in the hotel industry!

On July 10th, it was reported that Rongchuang Real Estate Group acquired 76 hotels in the Wanda project for 33.595 billion yuan. Wanda will transfer 91% equity of thirteen cultural and tourism projects to Rongchuang. Wanda will transfer 91% equity of the 13 cultural and tourism projects to Rongchuang Rongchuang to undertake project loans.

Original text on Wanda's official website:

In order to fully leverage the respective industrial advantages of both parties, through friendly negotiations, on July 10, 2017, the two parties signed equity transfer agreements for thirteen cultural and tourism city projects, including the Xishuangbanna Wanda Cultural and Tourism Project, Nanchang Wanda Cultural and Tourism Project, Hefei Wanda Cultural and Tourism Project, Harbin Wanda Cultural and Tourism Project, Wuxi Wanda Cultural and Tourism Project, Qingdao Wanda Cultural and Tourism Project, Guangzhou Wanda Cultural and Tourism Project, Chengdu Wanda Cultural and Tourism Project, Chongqing Wanda Cultural and Tourism Project, Guilin Wanda Cultural and Tourism Project, Jinan Wanda Cultural and Tourism Project, Kunming Wanda Cultural and Tourism Project, Haikou Wanda Cultural and Tourism Project, as well as 76 hotel transfer agreements, including Beijing Wanda Jiahua and Wuhan Wanda Ruihua. The main content is as follows:

1、 Wanda transferred 91% equity of the aforementioned thirteen cultural and tourism projects to Rongchuang with 91% of its registered capital, which is 29.575 billion yuan, and Rongchuang will bear all the existing loans for the projects.

2、 Rongchuang Real Estate Group acquired the aforementioned 76 hotels for 33.595 billion yuan.

3、 Both parties agree to sign a detailed agreement before July 31st and complete payment, asset and equity delivery as soon as possible.

4、 Both parties agree to maintain the "four unchanged" cultural and tourism projects after delivery:

1. The brand remains unchanged, and the property held by the project still uses the "Wanda Cultural Tourism City" brand;

2. The planning content remains unchanged, and the project is still developed and constructed according to the government approved plan and content;

3. The project construction remains unchanged, and the design, construction, and quality of the property owned by the project are still under the control of Wanda.

4. The operation management remains unchanged, and the project operation management is still the responsibility of Wanda Company.

5、 After the delivery of the hotel, the hotel management contract will continue to be executed until the expiration of the contract period.

6、 Both parties agree to engage in comprehensive strategic cooperation in multiple fields such as film.