Yesterday, reporter learned from parties concerned that BTG Hotels released another announcement to continue the suspension.

Yesterday, reporter learned from parties concerned that BTG Hotels released another announcement to continue the suspension due to discussing the asset acquisition and reorganization. BTG Hotels will announce the related developments within five days from the date of announcement of the suspension. The move also sparked off speculations of the industry, however, some insiders believes that the suspension may be caused by purchasing the budget hotels at other cities.

BTG Hotels

BTG Hotels (Group) Co., Ltd., formerly Beijing Capital Tourism Co., Ltd, is principally engaged in provision of tourism services. The Company involves in operation of hotels, provision of tourism services, tourism attraction services, as well as exhibition and advertising services. The Company operates Nanshan scenic spot in Hainan province, China, Beijing Minzu Hotel, Beijing Jinglun Hotel, Beijing Qianmen Hotel and travel agencies, which provide scenic spot sightseeing, guest room, catering and tourist reception services, among others. The Company operates its businesses primarily in Beijing and Hainan province, China.