Editorial Summary

Carlyle Group plans to invest RMB 100 million in private hotel company, Kaiyuan Century International Hotel Management Co., Ltd., reports CBN. According to a senior executive quoted by CBN, Kaiyuan has been in discussions with several international investors including Carlyle. Kaiyuan manages five-star hotel brand "New Century Grand" and four-star brand "New Century" hotel�. The company has 20 hotels in operation. All are located in key commercial and tourist cities such as Beijing, Shanghai, Hangzhou, Ningbo, Taizhou, Shaoxing, Lishui, Qiandao Lake, Xuzhou, Kaifeng, with nearly 6,000 guest rooms. Carlyle recently paid US$ 65 million to acquire a 26 percent stake in a Chongqing Polycomp International Corporation, and US$80 million for a 49 percent stake in Yangzhou Chengde Steel Tube Co.