Travelzen and SEBTI to Merge

Travel News Asia Latest Travel News Podcasts Videos Monday, 4 April 2011

Travelzen, an online travel service provider in the PRC, and Shanghai Ever Bright Town International Travel Agent (SEBTI) are to merge by means of share exchange offers.

Upon completion of the merger, SEBTI will become a subsidiary of Travelzen, and its resources will be integrated with Travelzen's online platform.

Following the merger, Travelzen, as a comprehensive online travel agent, will take charge of all online bookings of travel products and services. Meanwhile, the SEBTI brand will be preserved and will focus on the operation of traditional travel businesses, including travel agent outlets, local services and tours.

Mr. Ted Sze, CEO and founder of Travelzen, said, "The full merger between Travelzen and SEBTI is a culmination of three years of strategic cooperation between the two sides. It demonstrates our full confidence in the tourism sector of the PRC. Following the merger, Travelzen will speed up its efforts to expand its international business by further opening up the North American and European markets and offering more attractive international tours to mainland travellers. We will also attract more international visitors, making travel to China exceptionally convenient. The merger is expected to drive up Travelzen's revenue to more than RMB10 billion for the year 2011."

 So far this year, Travelzen has launched booking services for flights from Australia and Singapore. The services allow tourists from Australia and Singapore to book trips to China and arrange local travel arrangements upon their arrival, all of which can be settled by customers using credit cards online. In the future, Travelzen is expected to launch booking services for flights from more than 10 cities around the world, and for related leisure travel products.

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