HKCTS Plans To Expand Tourism Business In Mainland China

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.