SHANGHAI, Feb. 18, 2014 /PRNewswire/ -- Cachet Hotel Group (CHG), announced today the completion of the acquisition of JIA Shanghai by CHG's co-founder Robert Roche. The transaction was announced as an all cash buyout for an undisclosed sum.
Set in a stunning 1920's building in the heart of Shanghai, JIA is a design-lead, luxury boutique that is playful, intimate and eclectic, infused with a sense of fun. JIA takes its name from the Mandarin word for "home" and has been a welcome respite for many design and fashion-focused travelers to Shanghai.
In a recent statement, CHG's CEO, Alexander Mirza, indicated, "JIA Shanghai is a well-known luxury property located in the heart of Shanghai. Over the coming months, CHG will transform JIA into a Cachet Boutique property that will be known for entertainment, fashion and culinary excellence.
Under CHG, the JIA Shanghai acquisition helps carry out long term strategic development objectives of the Cachet brand. JIA Shanghai will be managed by CHG and undergo renovations to the guest rooms as well as the transformation of the third floor into a destination ultra-lounge. These renovations will be under the direction of CHG's exclusive celebrity design partner, Jay Godfrey. The renovations will be completed summer 2014 when the hotel will reopen under the name Cachet Boutique.
Cachet Hotel Group:
Cachet Hotel Group (CHG) is a Hong Kong-based management company established in May 2013. CHG was formed, creating two new hotel brands, r. and Cachet, and taking the URBN brand to the next level. CHG commits to being a company that "cares" with a corporate mission revolving around innovation, luxury and personalization. With numerous projects in the works, CHG is aiming to establish their first outlets in Greater China, Southeast Asia and India.
About Robert W. Roche:
Robert Roche is an entrepreneur and attorney. His 30 + years of experience, living and doing business in Japan and China, includes the start-up and/or management of over 40 companies as well as numerous philanthropic initiatives and civic contributions around the world.
In 1993 he co-founded Oak Lawn Marketing, now the largest infomercial company in Japan. In 1997, Robert co-founded Acorn International, which has since become the largest TV shopping company in China, and Mr. Roche currently serves as the company¹s Executive Chairman.
In 2010, Mr. Roche was named by President Obama to the Advisory Committee for Trade Policy and Negotiations of the Office of the United States Trade Representative (USTR).
SOURCE Cachet Hotel Group