Date
28 July 2017
Lotus chairman Patrick Kong said the company has not seen any business downturn despite China's economic slowdown. Photo: HKEJ
Lotus chairman Patrick Kong said the company has not seen any business downturn despite China's economic slowdown. Photo: HKEJ

Lotus Tours won’t tap Chinese investors despite high growth

Lotus Tours Ltd. has no plans to introduce mainland Chinese investors into the company despite their interest in the market and the company’s high business growth in the mainland, chairman and chief executive Patrick Kong said.

The company launched a stock option plan for 65 employees at three key executive levels, who will share a 30 percent stake worth HK$500 million, the Hong Kong Economic Journal quoted Kong as saying.

The scheme is aimed at boosting the employees’ sense of belongingness to the company, Kong said.

The company, which was engaged in outbound tours to Europe, the United States and Japan at its startup stage 50 years ago, has shifted to the wholesale of flight tickets to small and medium-sized travel agencies.

Currently 70 percent of the company’s clients are small and medium-sized travel agencies while the rest are large corporations.

Lotus entered the mainland market five years ago, selling international flight tickets to mainland tour companies that arrange tourist transits to Hong Kong. 

Despite the country’s economic slowdown, the company has not seen any downturn in the business, Kong said.

[Chinese version 中文版]

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