CNG announces Japanese partnership
Irish online travel and technology business CNG today signed a strategic partnership with Sojitz Corporation to distribute its hotel programme into the Japanese market.
Sojitz, quoted on the Tokyo Stock Exchange, is a leading conglomerate with sales of over £29bn (€43m).
Commenting on the strategic partnership, Finbarr Power, chief executive of CNG, said: “With internet penetration of over 60% and a fast growth and significant demand for travel products, the timing for CNG to enter the Japanese market is excellent.”
Meanwhile CNG today announced its first results for the 12 months ended 31 December 2003 since its Initial Public Offering on the Alternative Investment Market.
The Irish group, founded in 1999 as CNG Hotels, reported group turnover of $28.2m (€23.1m).
