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OCT tourism industry chain re-absorbed into the merger completion of the hotel

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14 December, chaired by the chairman is Craig OCT (SZ .000069) the second extraordinary general meeting to 99.5566% of the high turnout passed the "on the merger, a wholly owned subsidiary of Shenzhen Overseas Chinese Town Hotel Group Co., Ltd. proposals. " According to the motion, used to be real estate companies OCT striping hotel assets into the listed company is expected after the merger, and other travel products organically combine to form a complete integrated business tourism industry, a long chain. Complete the merger by absorption of 4 months This year in January, OCT passed the "organizational structure set on the company's motion" to set up the Happy Valley Division, Ministry of tourism, hotel properties division, established the company as a unit of business division operating mode. Among them, Beijing, Chengdu, Shanghai, Shenzhen, Wuhan and other places attributed to Happy Valley Happy Valley Division; Shenzhen East Overseas Chinese Town, Taizhou and Yunnan Overseas Chinese Town, Splendid China, Shenzhen and Changsha Window of World, travel agents attributed to the Ministry of Tourism; and International hotel management company, OCT Hotel, Venice Hotel, Seaview Hotel and property, leasing companies in the hotel property division. "Overseas Chinese Town Group in 2009 to achieve the overall market, the realization on the part of the hotel business has not wholly owned, 18% of the shares of real estate held by the OCT." Overseas Chinese Town Group, insiders revealed to reporters that the main part of the business in Shenzhen Venice Hotel, the proposed hotel project Baoan, OCT Hotel, Harbour View Hotel and Shenzhen, Beijing, Guangzhou, Foshan, Huizhou, Zhongshan and other places we have 20 known as the City Inn, as well as Beijing and Shenzhen, a number of hotel management and consultancy services. To realize the operation of the hotel division of property management, improve the management relationships and reduce costs, OCT Strategic Development Department submitted a merger of the hotel group's restructuring plan. OCT announcement shows that under the reorganization plan will be completed in two steps: first, from the 18% stake held by Hotel Group real estate company in the hands of Shenzhen Overseas Chinese Town transferee of shares, to achieve 100% owned hotel group; the second step, the company completed Hotels merger, cancellation of legal personality of the latter. All completed the share transfer and merger take at least four months. The reorganization of central enterprises to undertake signal Hotel "The merger of the hotel group, the OCT of the hotel assets and other travel products can be organically combined company will not rule out the travel theme hotel in the future as the travel business to cultivate new growth points." Guangdong tourism industry a Peer said. It is reported that in January 2010, the SAC decided to require the central enterprises to carry out from 2010 onwards full separation of non-core business hotels restructuring in the future without the approval of the SASAC, not to the main business of the central hotels prices, will not be re-invested in new operation of hotels. Recently, the spread of the Internet seeking a half of real estate reference materials show that the State-enterprise reform and his party, Deputy Secretary Wang Runqiu 3 OCT November 24 visit to the central business hotels separation of non-core business restructuring carried out research. At the meeting, the SAC OCT research group to learn more about the development process of the hotel industry and current situation, and listened to the group the main business of the central rate of non-separation of the reorganization Hotel opinions and suggestions. OCT from the SAC to start research work in person this strong signal, to determine the industry, OCT as a large central enterprises, or as a central rate of non-separation of the main business hotels important platform for the reorganization. Concerned about the eco-tourism industry Unique "Travel + estate" model to build the OCT A "moat", First Capital Securities analyst Chen Xiaobo said, "Travel + estate" model only has to take to reduce costs and enhance land value and other advantages, the central enterprises + Travel industry background can make the company more smoothly than any other company's financial support, and the complementary mode allows the company to faster development of tourism and expansion possible. This week, the OCT also passed the "project company on the establishment of Qingdao OCT motion." According to announcement revealed that OCT will contain the Sports Park in Qingdao, five-star hotels, conference centers, theme park, supporting commercial, ecological communities, and other parts. "OCT will be more concerned about the future of eco-tourism industry." OCT chairman is Craig recently said at the shareholders meeting, OCT East is not the only, the company determined to achieve the tourism industry interlocking chain management. It is understood that the main carrier of OCT to Happy Valley theme park in the layout has been initially completed, and the formation of Shenzhen, Beijing, Shanghai, Chengdu, Wuhan, a chain of circular layout. Next, the OCT will increase investment in eco-tourism, in the second period to complete the second five-ring layout, the realization of the east as a starting point, the connection Tianjin, Qingdao, Xi'an, both central and western regions, Taizhou, eco-tourism in Yunnan big ring. This year in August, receiving brokerage High Rise research revealed that the current can reach 17% of net area, Shenzhen area hotels close to 10%. Expert opinion OCT central enterprises have the opportunity to eat the other out of the hotel OCT's 10 luxury hotels, 20 inns economy of the city. The company had said in 2006, City Inn the next 5 years will expand to 50, but the main money in the earlier shooting of OCT, the hotel business to expand slowly after 2008, City Inn basically no new store opening. If the OCT central enterprises have the opportunity to undertake the withdrawal of other hotels, the number of hotels will show its explosive growth.

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