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| Corporate Profile |
24K International Hotel Group engages in the development, lease, operation, franchise and management of budget hotels nationwide in China under the branding “24K”. 24K strives to become the leading budget hotel chain in China providing good quality accommodation at a reasonable price for the fast growing population of value-conscious business and leisure travelers. 2 4K has established one budget hotel in Shanghai, Jiangsu, Zhejiang and Guangdong Province, and twenty other hotels are currently under discussions. It expects to have signed up 10-20 hotels under its management by the end of 2008, and plans to double the hotel numbers the following 2 years (20 hotels in 2008 and 50 hotels in 2009) at more locations across China. 24K plans to invest in good quality hotels by acquiring a controlling stake, preferably 3-star hotels, and would also explore leasing real estate properties and franchising to hotel owners. The common key to success with these options is “24K” branding and hotel management services to upgrade and convert existing lodging facilities, and maintains the good quality product and services across the hotel chain. We believe that with the right mix of marketing, good quality hotel management, clean and comfortable lodging, 24K will be able to build a recognizable brand and capture the opportunities presented by the continuing growth of the hotel market in China. |
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