Hotel enterprises have been designated as a key component of the Tokyu Group, and as a result, the Tokyu Group has undertaken various reorganization strategies, such as our establishment as Tokyu Hotel Management Co., Ltd. and the establishment of a domestic hotel management company.
There has also been a unification of the Tokyu Hotel chain and the Tokyu Inn chain, to create Tokyu Hotels. We have also seen the integration of all the marketing related operations within the group, and a reallocation of hotel management functions to Tokyu Hotel Chain Co., Ltd. with the transfer of our hotel enterprises from Tokyu Corporation.
In order to establish ourselves and to continually increase our presence in the market, we have decided upon a medium-term management plan which will focus on growth. As part of this management plan, all departments related to hotel enterprises had been consolidated and transferred to Tokyu Hotels from the Tokyu Hotel Chain Co., Ltd. in April 2005, from which Tokyu Hotels oversaw the implementation of a new system that has integrated all the various departments.
We have become much more organizationally strong and efficient, and we will make every effort to continually improve upon and build a competitive organization that will be able to rapidly respond to the ever changing market.
With all of these proactive transformations, we have also taken on the new name of Tokyu Hotels Co., Ltd; and with the trust that we have earned from our valued customers and the invaluable experience we have had throughout the years, we will be striving to achieve the best in customer service, as well as, actively pursuing the expansion of our network of hotels.