BUDGET HOTELS Morgan Stanley Fails To Unlock Value
Financial institution Morgan Stanley's venture in China's budget hotel sector has been a closely watched docudrama.
While the firm had expected to transact their 59% shareholding in Shanghai Motel Management together with the two other shareholders, bids have fallen short of the expected USD1 billion sale.
The chain is the 5th largest budget operator on the mainland and many industry watchers had expected either China Lodging or Home Inns to be aggressive in aggregation strategies.
Sluggish share prices in the sector have been blamed for the less then sterling bid process.