Wanda Hotel and rongchuang terminated the hotel management agreement and received a compensation of 133 million yuan
Wanda Hotel Development Co., Ltd. announced that the two subsidiaries of the company and rongchuang China reached an agreement on early termination of 21 hotel management agreements. Wanda Hotel agrees to terminate and rongchuang China agrees to pay Wanda Hotel RMB 133 million as compensation for termination and RMB 68.59 million within 10 working days after signing the termination agreement to settle all unpaid accounts payable with Wanda hotel as of June 30, 2021.
This text is a result of machine translation.
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