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Tour operator groups post revenue upsurge buoyed by outbound growth

Chinese tour operator giant Utour Group recorded operating revenue of RMB 10.1 billion in 2016, up 20.71% YoY, while peer HNA-Caissa’s operating revenue of the year grew 34.48% to RMB 6.64 billion.

04/28/2017|1:54:02 PM|ChinaTravelNews

CYTS Tours’ net profit rises 63.83% in 2016

Chinese tour operator group CYTS Tours recorded RMB 10.33 billion operating revenue in 2016, a 2.36% drop from a year before. Net profit grew 63.83% YoY to RMB 484 million in the year.

04/25/2017|1:32:41 PM|ChinaTravelNews

Travel conglomerate OCT to divest interests in two firms for 2.3 billion yuan

Theme park and tourism firm OCT Co. plans to divest its stakes of 100% in Taizhou OCT and 60% in OCT Vision. The two deals will be worth RMB 2.3 billion.

04/13/2017|10:15:10 AM|ChinaTravelNews

Outbound agency Phoenix Travel invests in Australian tour operator

Chinese outbound travel agency Phoenix Travel announced that it has made a strategic investment in Grandcity Travel, an Australia-registered firm with local bus fleets and Chinese-speaking tour guides.

04/11/2017|1:33:25 PM|ChinaTravelNews

China Travel International's net profit plummets 74% in 2016

Tourism conglomerate China Travel International reported revenue of HK$4,070 million in 2016, down by 7%. Profit attributable to shareholders tumbled 74% to HK$350 million.

03/30/2017|6:21:14 PM|ChinaTravelNews

Outbound travel site Woqu merges with Lulutrip and announces $25 million B+ round

Outbound local tour platform Woqu announced that it has merged with Lulutrip, a travel service for overseas Chinese tourists. Meanwhile, it has raised USD 25 million in its series B+ round funding.

03/21/2017|8:02:53 AM|ChinaTravelNews

CNTA: Organized outbound trips increase 4.49% in Q4 2016

The number of organized outbound visits from China totaled 14.49 million in the fourth quarter of 2016, up by 4.49% YoY. The duration of overseas stays totaled 80.64 million days, an increase of 1.24% from a year ago.

03/17/2017|10:12:09 AM|ChinaTravelNews

Tailored-trip startup UniqueWay receives RMB 50 million

Operator of tailored overseas tours UniqueWay has raised RMB 50 million in its series B round from China National Petroleum Corporation (CNPC)’s investment fund.

02/16/2017|7:08:16 PM|ChinaTravelNews
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