Introduction Corporate Profile CDL Hotels New Zealand Limited was incorporated in 1985 and has been listed on the New Zea-land Stock Exchange since 1985. The principal activities of the group are: * Ownership and operation of hotels in New Zealand * Land acquisition and development in New Zealand * Ownership and operation of shopping centres and a marina in Austraia It has a portfolio of 28 hotels, which are owned, leased, franchised and/or managed, with approxi-mately 3,500 rooms in 15 locations in …showed first 75 words of 2820 total…

…showed last 75 words of 2820 total…to contact the supply of manufactory or other ways. Then the cost of goods will reduced, and gross profit can be rised. Today, most company are using to direct to contact the consumers that consumers can order on website. This way can skip the retail to save cost of goods. Appendix 1 Balance Sheet Source: CDL Hotels New Zealand Limited 2004 Annual Report Appendix 2 Income Statement . Source: CDL Hotels New Zealand Limited 2004 Annual Report Appendix 3 Cash Flows