Jin Jiang wants bigger hotel stake

Shanghai-based hotel group Jin Jiang International Holdings Co Ltd is expected to boost its shareholding even higher, after it raised its stake in French hotel operator AccorHotels Group to 15.06 percent, according to a company source.

Jin Jiang became the biggest shareholder in AccorHotels, Europe's largest hotel operator, with a holding of about 15 percent as of May 27, according to a filing to the French stock market regulator AMF, Reuters reported.

"The purchase is still in progress by Jin Jiang and the information published from AMF is the latest update," said the source in Jin Jiang, who did not want to be identified.