Sino Express Acquires YTD Limited to Enhance Its Hotel Wholesale Operation in China
Thursday January 19, 6:00 am ET
HONG KONG--(BUSINESS WIRE)--Jan. 19, 2006--Sino Express Travel Limited (OTC:SXPT - News) announced today that it has entered into an agreement with Sinochamp Holdings Limited to acquire 100% of YTD Limited (www.ytdchina.com), a Guangzhou, China based hotel room wholesale travel company. YTD generated USD $1.5 million revenue and a gross profit margin of USD $85,000 in 2005. Xia Chen, CEO of Sino Express Travel, comments, "YTD is one of the few companies in China that specializes in hotel room wholesale. The wholesale business is still an underdeveloped sector in China's travel industry with great potential. This acquisition will accelerate our plan to claim the leading position in China's hotel room wholesale industry in the next three years."
Established in 2000, YTD Limited specializes in hotel room wholesale in the greater China region, including Hong Kong and Macau. Other services include car rental and flight ticketing. In 2005, YTD booked over 20,000 room nights from over 2,000 hotels across China. YTD's main operation is the Business-to-Business segment selling 2 to 5 star hotel room inventories to travel agents and other hotel resellers in China. The acquisition is expected to allow Sino's group of companies to take advantage of each other's strengths in both hotel room inventory and reseller network. GS Travel and YTD also intend to synergise their hotel wholesale operation to boost their revenue.
Sino Express Travel Limited (www.sinoexpresstravel.com) together with its 100% owned subsidiaries, GS Travel (Hong Kong) Ltd, NSIBC Ltd and www.v222.com, is an international travel company with operating offices in Hong Kong, Beijing, Guangzhou, Vancouver, Toronto and Seattle. Sino intends to grow its business by acquiring and operating a diversified travel business portfolio, seeking to invest in profitable travel related companies with reputable management and high growth potential. |
