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HKCTS Plans To Expand Tourism Business In Mainland China
February 18, 2008 |
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China Travel Service (Holdings) Hong Kong Limited says that the group plans to build itself into a comprehensive tourism enterprise combining the functions of middleman, provider, and tour wholesaler within three years.
The group aims to set up 500 tour outlets around mainland China by 2010. The merger of HKCTS and CTS last July has extended the HKCTS network and made its hotel services more competitive. Its business scope includes hotels, travel agencies, scenic spots, theme parks, resort areas, and online travel services. The group has six wholly-owned subsidiaries and its total assets have increased from RMB32 billion to RMB35 billion while its net assets are up from RMB15 billion to RMB17 billion. Its forecast sales revenue has been adjusted from RMB26 billion to RMB29 billion.
Xu Muhan, vice general manager of HKCTS, said that both the State the Council and State-owned Asset Supervision and Administration Commission of China attach much importance to HKCTS' development and hope it will drive and impact the tourism industry.
Through adding more business outlets, HKCTS aims to enlarge its market share and take advantage of the synergy with CTS.
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