Asset ReorganizationOn March 28, 2012, the BTG Hotels shareholders' meeting passes a proposal for hotel asset reorganization. BTG Hotels acquires a 75% stake in BTG-Jianguo Hotels & Resorts and a 100% stake in BTG-JINGLUN and SHINDOM. Meanwhile, the Group sells all the assets and liabilities of the BCT Exhibition Center Exhibition Branch. The three acquired companies have a total value of RMB203,675,600,000 and the BCT Exhibition Center Exhibition Branch is sold at a value of RMB185,422,900, with the RMB18,252,700,000 difference paid by BTG Hotels to BTG in cash.
BTG Hotels acquires Qianmen Jianguo Hotel with an independently-raised RMB330 million.
On January 16, 2009, BTG Hotels’ shareholders' meeting passes a resolution to acquire Qianmen Jianguo Hotel. The final confirmation agreement for the asset transfer purchase price is signed according to the audited net asset value of Qianmen Jianguo Hotel on January 31, 2009. The procedure for the change of business registration is completed in 2009. With this development, BTG Hotels owns three four-star hotels.
BTG Hotels adjusts outward investments.
Since 2004, BTG Hotels has been gradually adjusting its outward investments: exiting high-tech investment and transferring other noncore investments, including BTG Nikko International Hotel Management Co. Ltd., New Jinglun's hotel management investment sector, Zongheng Shanglü and Tianlun Resort.
BTG Hotels acquires a 30% stake in Shahu Resort, Ningxia.
In 2003, BTG Hotels acquires 30% stake in Shahu Resort, Ningxia and reduces its stake in Shenzhou International Travel to 51% in the same year.
BTG Hotels acquires Hainan Nanshan Cultural Tourism Development Co., Ltd.In September 2002, BTG Hotels acquires 74% equity at RMB330 million, marking its first developments in the attraction sector.
BTG Hotels sells 80% stake in Yanjing Hotel.
In November 2001, BTG Hotels completes its restructuring of Yanjing Hotel and sells 60% of its equity, marking the Group’s first developments in capital operations, asset structuring, business adjustment and regional adjustment.
BTG Hotels is consolidated and listed.
With the approval of 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 in the Beijing Administrative Bureau For Industry and Commerce with an initial registered capital of RMB161.4 million. With its mission to "restructure, finance and brand", BTG Hotels integrates and consolidates Beijing Minzu Hotel, BCT Exhibition Center Exhibition Branch, Yanjing Hotel, Jinglun Hotel and Shenzhou Travel Agency and applies for a public issue of A-shares. With the approval of ZhengJianFaXingZiNo.45, granted by the China Securities Regulatory Commission, BTG Hotels issues RMB70 million in ordinary shares through a corporate placement and online sale to general investors at the Shanghai Stock Exchange from April 21 to May 16, 2000. After the issuance, BTG Hotels has equity of 231.4 million shares and a registered capital of RMB231.4 million.