Teda Travel Group News
Teda Travel Group, Inc. Executives Attend 2004 Annual China Hotel Industry Development Conference
Tuesday August 3, 8:32 am ET
CEO of Teda Hotels Management Company Limited Addresses Conference
HONG KONG, Aug. 3 /Xinhua-PRNewswire/ -- Teda Travel Group, Inc. (OTC Bulletin Board: TTVL - News), announced today that its management team attended the 2004 Annual China Hotel Industry Development Conference in Hohhot, Inner Mongolia, People's Republic of China during their annual conference July 20-25, 2004.
Hundreds of delegates came from 24 provinces in China, including many top industry professionals, representatives from Tsinghua University, the Top University in China, and delegates from Baker & McKenzie, the largest law firm in the world. Mr. Tim Gao, CEO of Teda Hotels Management Company Limited, a wholly owned subsidiary of Teda Travel Group, spoke to conference attendees about the need to consolidate Information Management Systems throughout the hotel property management industry.
Mr. Godfrey Hui, CEO of Teda Travel Group, said, ''This was a very important conference for us to attend. We're extremely pleased that Mr. Gao was a keynote speaker. We will quickly become one of the industry leaders in hospitality and hotel management services, and it was critical for us to address conference delegates on the issues of integrated management systems.''
''Mr. Gao addressed the hospitality industry executives about the need for integration of Information Management throughout the Hotel and Hospitality Industry,'' expounded Mr. Hui. ''The annual conference is jointly conducted by China Hotel & Lodging Association, and Travel Bureau of Inner Mongolia. It is one of the largest and most attended events in the hotel industry of China. Virtually every top-ranking industry representative attends, and we were very pleased to be asked to address the conference.''
Mr. Gao stated, ''The travel industry in China is a $70 billion dollar per year industry, and it's expanding at a rate of about 15% per year. Spurred by the booming Chinese economy, the Chinese leisure and business travel sector will continue to grow not only from domestic tourism but also from international travelers. It is a critical time for this industry in China. Taking these early steps in getting proper information management systems in place will result in an industry that is prepared to receive world travelers in a relatively seamless and hassle-free manner."
Mr. Tim Gao is the Chief Executive Officer of the Teda Hotels Management Company Limited, a wholly owned subsidiary of Teda Travel Group. Prior to joining Teda, Mr. Gao was Chief Executive Officer and General Manager of the Orient Hotel Management Company Limited, a wholly owned subsidiary of China Orient Asset Management Corporation, which together, with the Bank of China, are directly under the Finance Bureau of Central Government of China.
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 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.
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