CYTS Shanshui Hotel heads for New Third Board listing
CYTS Shanshui Hotel Investment & Management Company is speeding up preparations for a listing on the New Third Board.
ChinaTravelNews - CYTS Shanshui Hotel Investment & Management Company is speeding up preparations for a listing on the New Third Board, working with legal, securities and accountant firms.
A wholly-owned subsidiary of major travel operator CYTS, CYTS Shanshui Hotel Investment & Management Company was established in 2002 by Haiyang Cai and specializes in investment, development and management of chain hotels.
Positioned as a mid-range brand with “innovation, class and value” as the core brand concepts, the hotel group has developed the Shanshui Trends as its business hotel brand and Shanhsui S as its boutique hotel brand.
It operates over 50 unique hotels in major cities and resort areas such as Beijing, Guangzhou, Shenzhen, Chengdu, Nanjing, Zhengzhou and Lijiang, and continues to expand in the key regions of the Pearl River Delta, Bohai Sea seaboard, Yangtze River Delta and Central China in order to develop a distinctive hotel group operating in a progressive model.
Mr. Cai said CYTS Shanshui Hotel Investment & Management Company’s New Third Board listing will set a new standard for the mid-range hotel segment and facilitate its bid for a listing on the main board in the future.
The listing will also have a positive impact on corporate governance and the incentives system, as well as human resources development and retention, core competencies augmentation and brand building.
The company will continue to develop the potentials of existing regional operations and build mid-range and boutique hotels in first and second-tier cities, while exploring plans to launch resort-style select hotel brands.
It will also leverage the capital market to continue promotion of the company’s brand development via acquisitions, equity exchanges, mergers and regional alliances after its listing.(Translation by David)