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Hostel brand ShiLiLi raises RMB 30 million in series A round

04/15/2016| 10:03:52 AM| ChinaTravelNews 中文

Honeymoon lodging service ShiLiLi announced it has raised RMB 30 million in its series A round funding from a consortium led by Mr. Chi Li, one of the three successful investors known as “The Warren Buffets of China”

Honeymoon accommodation and hostel brand ShiLiLi announced on Tuesday that the company would receive RMB 30 million in its series A round funding from a consortium led by Mr. Chi Li, one of the three successful investors known as “The Warren Buffets of China”. 

Mid-range holiday accommodation is relatively untapped in China, and more and more Chinese young travelers are now taking hostels as a preferred lodging option, presenting promising consumer potential. The company’s CEO Xinming Xu said that the funding will be invested in property expansion and improvement of user experience. (Translated by Jerry)

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