Historical background of Millennium International Hotel Group

1995 Urban Development Co., Ltd. acquired Guo Dun Hotel Group and its hotels in Britain, France and Germany for 2.1900 million. On this basis, Millennium Guo Dun Hotel Co., Ltd. was established and listed on the London Stock Exchange at 1996. 1999 In the spring, Guo Dun Millennium Hotel Co., Ltd. acquired most of the hotel assets of its major shareholder, Urban Development Co., Ltd. in Southeast Asia and Australia for 556 million pounds; In the same year, 165438+ 10 acquired Hilton Seoul, South Korea for10.40 billion pounds, and in 65438+February, it acquired American Regal Hotel Group for 395 million pounds.

In June 2000, as part of the capital reorganization, City Hotel International Co., Ltd. sold its shares in Guo Dun Millennium Hotel Co., Ltd. to City Development Co., Ltd., and in the autumn of the same year, the company changed its name to City Network Technology Co., Ltd. to provide network technology solutions for the hotel industry. Swan Holdings Limited, as a mass communication planning company of City Network Technology Co., Ltd., is owned by City Network Technology Co., Ltd. in Guo Dun Millennium Hotel Co., Ltd., accounting for 85% and 15% respectively.