Soho China Ltd, the biggest property developer in Beijing's central business district, yesterday said it will close two hotels after it failed to win approval to use the properties for commercial purposes.
Soho will end management agreements with Key International Hotels Management Co related to the Commune by the Great Wall hotel in Beijing's Yanqing County, and the Boao Kempinski in the southern Hainan Province, the company said in an exchange filing.
(Shanghai Daily October 8, 2008)
