B2B hotel platform Mogu Trip fully acquired by travel service provider Yundijie
The acquisition of Mogu Trip will help Yundijie branch out into the international hotel distribution business and further enhance its product supplies to increase competitiveness.
On April 28, ChinaTravelNews reported that Yundijie.com, a consolidation platform that combines driver-guide services, hotels, activities and restaurant reservations all into one, has fully acquired Mogu Trip, an international B2B hotel marketplace. The deal will take place in the form of cash and stock transactions.
The two platforms have completely integrated their IT systems and technical support, bringing more targeted users into the industry and providing better leverage into the global hotel market.
Launched in May 2016, Yundijie is an independent B2B brand which was introduced by overseas driver-guide service provider Hi Guides (HuangBaoChe). It provides Chinese-speaking driver guides and chartered services to airlines, ground tour operators, MICE service providers and corporate travel management companies.
Yundijie unveiled its hotel business on May 23, 2017, and has since integrated 470,000 hotels worldwide.
Hi Guides announced on March 1 that it had received USD 50 million in funding from Sequoia Capital, Matrix Partners China and Concord Investment. Currently Hi Guides and Yundijie have become two independently operated companies and, according to insider information, the latter had also attained funding in March.
Mogu Trip is focused on building a B2B hotel reservation platform that aims to help tour operators and other sales channels to book overseas hotels.
As a technology and product innovation provider, Mogu Trip is connected to wholesalers, GDS, ground tour agencies, hotels and business travel companies, all of whom possess high-quality inventories and ensure a large number of diverse hotel resources. Hotel data will be analyzed and then intelligently matched with tour operators to achieve higher procurement and operation efficiency.
Mogu Trip had acquired tens of millions of yuan in an angel round of financing in the last quarter of 2015, and has registered a transaction volume of up to RMB 300 million in 2017.
The acquisition of Mogu Trip will help Yundijie branch out into the international hotel distribution business and further enhance its product supplies to enhance competitiveness.