Utour acquires 54% stake in Oceania tourism startup Xtx6
Utour is taking a 54% stake in Oceania travel wholesaler Xtx6 to tap the potential of the Oceania region and bring long-term benefits to overall profitability.
ChinaTravelNews – Major Chinese OTA Utour is taking a 54% stake in Oceania travel wholesaler Xtx6. Utour and Xtx6 will jointly build their presence in the Australian and New Zealand markets and strengthen their capacities through resources consolidation. As Chinese outbound tourism to the Oceania region is expected to be extremely profitable, Utour’s acquisition and consolidation with Xtx6 will bring long-term benefits for its overall profitability.
Xtx6 outbound travel wholesaler
Australian government statistics indicate that Australia received 901,400 Chinese visitors in the 2014-15 fiscal year and the number of Chinese visitor arrivals is expected to reach one million in the next fiscal year.
Xtx6 is China’s leading outbound tourism wholesaler and is especially well positioned in the Australia and New Zealand markets. It has been drastically upgrading its original products in recent years.
A Utour flagship store opening
Utour's vice president Jian Cao said: “We feel that mid-stream resources in the business chain are an extremely important part of market distribution at this stage and is a priority for Utour now. Utour has acquired Merry Holiday, a wholesaler specialized in short-haul outbound tourism, to consolidate our leading position in eastern China. Ultimately, we want to stake our positions quickly in the mid-stream of the tourism industry chain through strategic investments and acquisitions. We hope to become the leading player in outbound travel at all major departure points in China within three years and have the capabilities and resources to dispatch tours to all global destinations from all domestic departure points.”(Translation by David)