HONG Kong’s Morning Star Travel has been acquired by China’s Fantasia Holdings Group last month for HK$220 million (US$28 million), effectively linking the 43-year-old homegrown agency with Fantasia’s outbound travel business Colour Life Services.
Philip Chow, vice-president finance and operation, Morning Star Travel, said: “The new ownership opens up opportunities for us. Colour Life specialises in property management in China, serving communities in over 147 cities in China. This means direct access to more than 10 million residents.
“From now on, residents living in properties under Fantasia’s management may take advantage of our travel products through the group’s online platforms.”
Morning Star plans to set up around 100 stores within the Guangdong area this year and will officially offer travel services to residents after Chinese New Year in February.
Dannia Cheung, general manager, Morning Star Travel, said: “We will make sure there are no cookie-cutter products to suit different peak travel seasons,” adding that they mainly plan to target the mid to upscale clientele.
