Great Eagle Group, a Hong Kong property and hotel heavyweight, plans to invest ten billion Hong Kong dollars to open at least 30 hotels in Chinese inland in five to ten years.

Great Eagle Group president Lo Ka Shui made the remarks when the group signed a management agreement with Beijing Capital Airport Hotel recently.

According to the agreement, Langham Hotels International, a subsidiary of the Great Eagle Group, will manage a five star hotel in the west wing of Beijing Capital Airport.

The hotel, named Langham Place Beijing Capital Airport Hotel and located near the newly constructed Terminal 3, is scheduled to open in mid-2008, prior to the Beijing Olympic Games.

Along with the increasing number of tourists, occupancy rate of the hotel will reach 70 percent to 80 percent, said Liu Guixin, general manager of Beijing Capital Airport Tourism Co. Ltd.

Great Eagle Group has founded a mutual fund of five billion Hong Kong dollars with overseas consortiums and will inject five more billion Hong Kong dollars when needed.