The hotel asset restructuring proposal is approved by the BTG Hotels shareholders' meeting. BTG Hotels acquires a 75% stake in BTG-Jianguo, acquires BTG-JINGLUN and Shindom in full, selling off the total assets and liabilities of its subsidiary, the Beijing Exhibition Center. The three companies have a total value of RMB203,675,600, and the Beijing Exhibition Center is worth RMB185,422,900. BTG Hotels pays the difference of RMB18,252,700 to BTG in cash.
The shareholders' meeting approves the resolution to acquire Qianmen Hotel. The final confirmation agreement for the asset transfer price is signed at the audited net asset value of Qianmen Hotel on January 31, and the final transaction price is RMB334,610,300. Before the end of the year, the change in Qianmen Hotel business registration is successfully completed. BTG Hotels then owns a total of 3 four-star hotels.
The Company begins to adjust its investment policy, exiting high-tech investments and transferring away from other non-core investments, such as BTG Nikko International Hotel Management Co., Ltd., and New Jinglun hotel management investments in Zongheng Shanglü and Tianlun Resort.
BTG Hotels acquires a 30% stake in Ningxia Sand Lake Zoology Tourism Zone and reduces its stake in BTG International Travel & Tours Co., Ltd. to 51%.
The Company acquires a 74% stake in Hainan Nanshan Cultural Tourism Zone for RMB330 million, beginning its expansion into scenic destinations.
BTG Hotels restructures Yanjing Hotel and sells its 60% stake, marking the Company's first step in capital operations, asset structuring, business restructuring and regional restructuring.
With the mission of restructuring, financing, and branding, BTG Hotels integrates and consolidates Beijing Minzu Hotel, Beijing Exhibition Center, Yanjing Hotel, Jinglun Hotel and Shenzhou Travel Agency. Approved by Circular No.45 of the China Securities Regulatory Commission, BTG Hotels issues RMB70 million in ordinary shares from April 21 to May 16. As a result, BTG Hotels total shares increase to 231.4 million, and it’s registered capital grows to RMB231.4 million.
Approved by Circular JZBHNo.14 of the General Office of the Beijing Municipal People’s Government, BTG Hotels (Group) Co., Ltd. is founded as a limited liability company established with the sponsorship of BTG, the Beijing Urban-Rural Trade Centre Co., Ltd., Tongfang Co., Ltd., Beijing Juquan Catering Co., Ltd., and the Ming Tombs Special Area Tourism Services Development Corporation of the Changping District of Beijing. BTG Hotels is registered at the Beijing Administration for Industry and Commerce with an initial registered capital of RMB161.4 million.