Wanda Group acquires Wuxi CITS
On the 26th of September Wanda Tourism and Wuxi China International Travel Service jointly held a signing ceremony. Wuxi CITS now becomes the seventh tour operator acquired by Wanda Group.
[TravelDaily] On the 26th of September Beijing Wanda Tourism Investment Co.Ltd.(Wanda Tourism), a subsidiary of Wanda Group, and Wuxi China International Travel Service (Wuxi CITS) jointly held a signing ceremony and press conference at the Sheraton Wuxi Binhu Hotel. Under the agreement Wanda Tourism will acquire a majority stake of Wuxi CITS and the latter becomes the seventh tour operator acquired by Wanda Group.
Yueming Mo, Vice President of Wanda Culture Group said that in previous investigations of the Jiangsu travel market they have noticed the advantages and growth potential of the Wuxi area and so they decided to partner with Wuxi CITS. He believes by leveraging Wanda Group’s cultural tourism resources and superior customer base Wuxi CITS will become a definite industry leader in this market. This tie-up will also enable Wanda Tourism to better position themselves for the Jiangsu market.(Translated by David)