Ctrip posted GMV of RMB 430 billion (USD 62.5 billion) in 2016 and the company wants to grow Skyscanner's contribution to Ctrip's international business from 10%-20% currently to one-third or even more in the future.
NIDA Rooms has secured a USD 5.6 million capital-raise from China's Shanda Group to bolster its growing budget hotel platform.
Ctrip reported net revenues of USD 2.8 billion in full year 2016, representing a 76% increase YoY. Accommodation reservation revenues rose 58% to USD 1.1 billion, accounting for 37% of the total revenues.
Chinese travelers will make more than 5 billion trips in 2017 and spend over RMB 5 trillion (USD 727 billion) in the year, projected CNTA.
MaiTao, an online service focusing on children learning and traveling experience, has raised RMB 70 million in its B round funding which had Fosun as the lead investor.
Meituan-Dianping kick-started an industrial fund, targeting to invest RMB 3 billion in the consumer sector. The funding sources include Meituan-Dianping, Tencent and New Hope Group.
The European Union is preparing activities for the forthcoming EU-China Tourism Year. The decision to christen Europe as the first partner destination for the ITB China event is such initiative.
China's air passenger trips rose 11.8% YoY to 487.8 million in 2016, according to data from the Civil Aviation Administration of China (CAAC).
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