B&B brand Sweetome begins independent operation backed by Poly Capital
Customized B&B brand Sweetome Group has announced its core strategy of “sharing accommodation” and the completion of a new round of financing backed by real estate conglomerate Poly Capital.
Customized B&B service provider Sweetome Group, which used to be an offline unit of Tujia, known as China’s Airbnb, elaborated its core strategy of “sharing accommodation” in a Shanghai press conference on March 27. The group revealed that it would focus on upgrading its core businesses as well as value-added services. The group has also unveiled new brand logo and slogan to mark the beginning of its independent operation.
Sweetome Group also announced the completion of a new round of financing backed by real estate conglomerate Poly Capital for an undisclosed sum, suffice to say it was Poly Capital’s single largest investment in the accommodation-sharing sector in 2017. The two companies would cooperate in housing expansion and financial support.
In March 2017, Poly Group had invested millions of yuan in apartment brand Memor Home.
Sweetome’s core businesses upgrade will encompass products, services and innovative initiatives. Product upgrades involve leveling up three apartment brands, the quality of the rooms and its Hi Villa brand. Service upgrades will be applied to membership programs, call centers and housekeeping services, while innovation upgrades include introducing experience coupons and coupons for friends and relatives.
Its value-added businesses encompass shared farms, as well as Tuyuan, a C2B accommodation provider designed for rural visitors, and Tuli, an e-commerce platform for sharing travel souvenirs.
In shared farms, Sweetome aims to deliver a one-stop solution from construction to operation in 2018. Its rural accommodation brand Tuyuan has introduced its solutions and products themed “Rural Revitalization”, and has built a network of easily assembled housing in 20 China provinces and overseas destinations. Its online marketplace Tuli will drive the development of e-commerce for agricultural products and build farm-sharing business.