TEDA Travel Group Further Expands Its Hotel Network in China
HONG KONG, Sept. 8 /PRNewswire-FirstCall/ — TEDA Travel Group, Inc. (OTC Bulletin Board: TTVL), announced today that its 60% held subsidiary, Landmark International Hotel Group Limited (‘Landmark’) has added two more hotel management contracts into its portfolio of managed properties, bringing the number of hotel properties management contracts under Landmark up to 15 in the PRC.
The new management contracts are for the Tianjin Zhong Hao Hotel in the city center of Tianjin and the Gao Xin International Business Hotel in Xian. Tianjin Zhong Hao Hotel is a 450 rooms 5 star hotel with all modern, conference and spa facilities targeting the ever growing and discerning business clientele in Tianjin, where the biggest and largest concentration of multi-national companies in China are located. This hotel is expected to be completed in 2007 and Landmark will manage it for 10 years after completion.
The Gao Xin International Business Hotel is a 286 rooms, 4 star hotel located in the Hi-tech Industrial Development Zone of Xian city. As the name implies, it will be a fully-fledged business hotel with all the usual trimmings to attract business travelers with an eye on value for money. Landmark will manage the hotel for 5 years from its completion date expected in 2006.
About TEDA Travel Group, Inc.:
TEDA Travel is a property management company providing services to hotels and resorts throughout China. The company is responsible for the supervision and day-to-day operations of the properties it manages. In addition to its property management division, TEDA Travel also has its own portfolio of real estate investments. Leveraged on its existing core businesses and the brand name ‘TEDA,’ one of most recognized names in China, TEDA Travel intends to become a market leader in the fast growing Chinese travel and real estate services industry.
About Tianjin Economic and Technological Development Area (TEDA):
Tianjin Economic and Technological Development Area (TEDA) is one of the earliest approved and best state-level development zones in China. TEDA has now has a developed area of 33 square kilometers (approximately 20 square miles). TEDA is located to the southeast of Tianjin City, about 45 kilometers (27 miles) away from downtown and 140 kilometers (84 miles) from Beijing. TEDA enjoys easy access to North China, Northeast China and Northwest China.
Safe Harbor Statement:
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company’s ability to execute its business model and strategic plans; and the risks described from time to time in the Company’s SEC filings.
John Roskelley, President, First Global Media, 480.902.3110
SOURCE TEDA Travel Group, Inc.
Source: PR Newswire (September 8, 2005 – 10:59 AM EST)