Wanda Tourism Acquires Zhejiang Everbright Travel
Wanda Group subsidiary Wanda Tourism successfully signed an agreement to acquire Zhejiang Everbright Travel Group
[Travel Daily] After over 60 days of negotiation Wanda Group subsidiary Wanda Tourism successfully signed an agreement to acquire Zhejiang Everbright Travel Group and planted their flag in their eighth territory- Zhejiang.
Established in December 2011, Zhejiang Everbright Travel Group owns nine subsidiaries in Zhejiang province and over ten offices in the Hangzhou area. They are the biggest outbound tour operator in Zhejiang province taking up one fourth of the market with a consolidated revenue exceeding one billion RMB.
According to Wanda Group’s strategy, their plan of acquiring traditional tour operators is to build Wanda Group as a “Travel Business Empire” and provide a secure customer base for Wanda Group’s existing tourism resources.(Translation by David)