Zhejiang-based Utour Travel gets US$4.67 million investment to upgrade online travel
Leisure travel and mini-vacation service Utour Travel recently received a RMB30 million investment, boosting its estimated value to nearly RMB300 million.
ChinaTravelNews – Zhejiang-based leisure travel and mini-vacation service Utour Travel (not related to OTA Utour) recently received a RMB30 million (approx: US$4.67 million) investment, boosting its estimated value to nearly RMB300 million.
Utour Travel's car travel website Myoyo.cn
Utour Travel has achieved rapid growth and development in the last ten years. In the last two years, the company has been drawing the attention of capital investors who are positive about the company’s strong growth outlook.
Utour Travel’s two main travel brands include well-known leading B2B brand in eastern China, Daren Travel, and car travel website, Myoyo.cn. Daren Travel is a B2B travel wholesaler specialist that has strong control over resources and product development of outbound tourism operations, domestic tourism and local area travel.
Utour Travel has an expansive network of travel agencies and operates almost 60 offices in the Zhejiang area. The Myoyo.cn website has a large local market share and is the main eastern regional partner of major OTAs like Ctrip. It sells e-tickets for attractions, hotels and min-vacations located around metropolitan areas. In 2004, it provided high quality and convenient car travel service to 400,000 users.
Utour Travel’s CEO Weibiao Tong said: “Utour Travel has one million active users in its customer big-data system. The latest financing will be used to develop products, new internet technologies, user service experience and to attract talent. We will launch a new convenience store-style “Online + Travel +Lifestyle” model of online travel store (OTS) that provides users with quality specialized tourism products and convenient efficient service to make ourselves the number one brand in leisure travel and local area mini-vacations.”(Translation by David)