PAN-ASIAN budget hotel chain Red Planet Hotels (formerly known as Tune Hotels) has received US$70 million investment from Goldman Sachs. Group ceo Tim Hansing said the funding would "soldify the company's current expansion". "To have our company, our people, our product, and our brand be funded by Goldman Sachs indeed gives us the confidence that we are on the right track to our stated goal of a 2018 IPO," he said.
The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 29 Sep 16
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