Yenlex Partners with the Qingzhu Hotel Group in Completing Series B Round of Financing of Tens of Millions of USD
Beijing - The Qingzhu Hotel Group, which focuses on developing and managing hotel chains, has completed a Series B round of financing of tens of millions of USD, co-led by GGV Capital and Sofina Group, and existing shareholders Sequoia China and XVC also joined.
Yenlex, a market-leading law firm based in the People’s Republic of China, on behalf of Qingzhu, fully participated in designing transaction structure, drafting, reviewing and negotiating transaction documents, as well as transaction closing.
Qingzhu is a "modular, technology-enabled" hotel group and provider of upgrade service and operation management service to hotels. The Company provides marketing, brand building, operations, employee training, logistics management, membership management and IT system management service to hotels to improve operational efficiency and operating income.
For customers’ diverse needs of a single hotel, it launched three brands: Qingzhu Hotel, Qingzhu Enjoy and Qingzhu Alliance, each providing a complete set of data systems and managing SOPs, modular renovation services, brand building and digital marketing services.
Qingzhu has currently more than 3,000 hotels and achieved 100% coverage in first-tier, new first-tier and second-tier cities in China and the majority of third-tier cities nationwide.