Star Asia Group has acquired all shares of Minasia.
Minasia operates 39 hotels with a total of 5,180 rooms nationwide, including “Wing International” and “Tenza Hotel”.
Star Asia Group has been a main sponsor since capital participation in Bolaris Holdings in 2018. The business operations of Bolaris and Minasia are said to have a high level of similarity and affinity.
The acquisition price is not disclosed. The stock transfer is scheduled for May 31. With this acquisition, Star Asia Group will operate over 14,000 rooms.
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