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Sino Express Travel Announces New Collaboration with Xian Hotel |
Hong Kong--(Business Wire)--October 28, 2008--Sino Express Travel Limited (OTC: SXPT ˇV News) announced that it intends to invest CNY 2 million (USD 292,600) to renovate the Square Inn (OTC: SQIN ˇV News) Chenxing Hotel, a 76-room hotel in Xian, China. In return, Sino receives an 80% profit sharing arrangement from the hotel for 9 years. Sino expects to recover the cost of investment in 3 years.
The Square Inn Chenxing Hotel is located in a technology park in Taoyuan, west Xian, China. It is 30 minutes from the airport and close to many historic and cultural spots around the city of Xian. Xian has a rich history of over 3,000 years and it was the starting point of the Silk Road, the ancient trade routes across the Asian continent connecting to the Middle East, Europe and Africa.
About Sino Express Travel Limited
Sino Express Travel Limited (www.sinoexpresstravel.com) is an investor and developer of scenic spots and tourist destinations in China. Sino intends to grow its business by acquiring and operating a diversified portfolio of resort hotels and tourist attractions. It plans to search for good value targets at suitable locations in China with high potential for further development in the areas of scenic, cultural and historical extensions.
Forward looking statement
Certain information contained in these materials is ˇ§forward-lookingˇ¨ information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Contact:
Sino Express Travel Limited
Contact: Jinghui Wang Tel: (86) 20-83346112
Email: ir@sinoexpresstravel.com
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