CYTS ShanShui Hotel Investment Management Company Limited has announced that it aims to expand their number of outlets to 30 by 2009.
Following a new outlet opened recently in Guangzhou with an investment of CNY100 million, the company now has a total of 12 hotels. The 238-room Shan Shui Vogue Hotel (Huangpu) has been rebuilt and designed to four-star standards and covers a total construction area of 30,000 square meters. Cai Haiyang, president of CYTS ShanShui Hotel said that this is one of their major steps in fulfilling the company's strategic expansion in the Pearl River Delta area.
Based on Shenzhen, CYTS ShanShui Hotel chose Shenzhen and Beijing as most important development locations in South China and North China, respectively. It has focused on two core regions including the Pearl River Delta area and Bohai Rim area and has paid some attention to other major cities in the country. According to its middle term plan, CYTS ShanShui Hotel is expected to have a total of 30 outlets under the Shan Shui brand and to reach CNY30 million net profit, thus achieving its conditions for listing.
(China Hospitality News August 1, 2008)