China Travel witnesses 39 percent growth in visitor number & spending

Published on : Thursday, August 31, 2017

China tourismRecently, a Hong Kong based company has especially targeted on investment in hotel and leisure industry in China and has shown a robust growth of 39 percent in net half-time profit, motivated by increasing numbers of visitors visiting different properties and theme parks.

China Travel International Investment Hong Kong Limited, which also functions whole leisure resorts, registered net profit of HK$375 million (US$47.9 million), or 6.88 HK cents a share.

The outcome of the result leave the company on schedule to beat year long profit approximation of HK$548 million, polled by Thomson Reuters on seven analysts.
“The domestic tourism industry maintained double-digit growth, compared with a national 6.9 per cent rise in gross domestic product in the first half of the year,” said its chairman Zhang Fengchun.

Zhang said in income, China Travel benefits from a powerful 38 percent growth in terms of income, particularly at its main tourist attractions to HK$311 million, together with “Window of the World” theme park based in Shenzhen.

In order to make the best and the most effective use of asset structure, the company explained that it is taking into account a number of suggestions like spinning off some of the key mainland attractions with scenic backgound for listing on the A-share market.

To quote Tao Xiaobin, deputy general manager, “as mainland regulations do not allow listing of ticket sales [operations], to realise the spin-off, we may need to reorganise certain transport assets and auxiliary businesses, such as marketing and sales.”


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