Universal Travel Group has formed a strategic partnership with CITIC Shenzhen, a Shenzhen-based business and residential real estate development and property management company.

Jiangping Jiang, chairman and CEO of Universal Travel Group, said, "Through this partnership, we have the potential to exponentially increase our revenues by serving both the business and leisure travel needs of CITIC's tenants. We also broaden our services with the addition of preferred relationships at vacation resorts that expand our geographic footprint. I'm confident that our customers will benefit from the addition of destination options beyond the traditional hotel."

Under the terms of the partnership, Universal and CITIC will cross-promote their respective travel and tourism services and vacation properties to their existing customer base. Additionally, Universal is named a preferred vendor of travel and tourism services to CITIC's business and residential properties, which exceed 100,000 units.

Universal Travel Group operates as a China-based aviation services company through its wholly owned subsidiary Yu Zhi Lu Aviation Service Company Ltd.

Founded in November 1987, Shenzhen CITIC Shenzhen is a wholly owned subsidiary directly under CITIC. It has total assets of RMB 6 billion and 19 subsidiaries.