Technology and real estate development company, TGI Solar Power Group (OTCMKTS:TSPG), on October 1, reached an agreement on constructing 100 rooms hotel and office building in Cancun, North Brunswick. The property will be located next to the Hilton hotel and be close to the Cancun airport.
The building would be serving Mexican headquarters for ADVENT city and also have Easyway Rent a car, a joint venture company with a Mexican partner.
TGI is planning to utilize the location for marketing as well as sales activity in ADVENT City hospitality business, which is being made Yucatan, a geographical area experiencing explosive growth. The city was home to a small indigenous group of Maya communities and now has 5,000-room resorts receiving guests from all over. Reducing air travel costs as well as an increase in package tourism has made Cancun airport the second busiest in Mexico.
EasyWay Rent a Car service was established in 1987 and has offices in the most important cities in the Yucatan Peninsula.
TGI is engaged in providing clients with tools as well as management for delivering interactive and on-demand staffing for project-based and full time personnel. Earlier known as TenthGate International, Inc, the company changed its name to TGI Solar Power Group Inc. The firm was founded in 1967 and is headquartered in Ewing, New Jersey.
Market Reaction:
On Friday, TSPG stock jumped 1.37% at $0.0074 with more than 1.95 million shares, compared to its average volume of 1.97 million shares. The stock has moved within a range of $0.0069 – 0.0085 after opening the trade at $0.0071.
