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PMS provider GreenCloud gets Trip.com Group investment

04/16/2020| 1:40:39 PM| ChinaTravelNews 中文

All major PMS providers in China now have OTA investors following this deal.

ChinaTravelNews has learned that Trip.com Group has invested in PMS provider GreenCloud through its investment vehicle Shanghai Kehui Venture Capital.

According to the company database portal Qichacha, GreenCloud has updated its profile on April 4 naming Shanghai Kehui as a new shareholder holding a 2.5% stake. At the same time, Shanghai Kehui has also updated information on Qichacha divulging its investment in GreenCloud.

Trip.com Group has invested in dozens of companies through Shanghai Kehui Venture Capital since 2013, among them are service robot supplier Yunji Technology and Shanghai Qiuqiu Technology, which set up travel KOLs incubator Shanghai Chengmeng Culture for Trip.com Group’s travel content production.

After the deal, all major PMS providers in China have OTAs as investors. Chinese hotel system provider Shiji received a strategic investment from Alibaba, which owns travel service platform Fliggy, in September 2014. Taobao (China) Software now holds 13.07% of Shiji and is the second-largest shareholder after Shiji’s cofounder Zhongchu Li. Beijing-based PMS provider Jointwisdom Information Technologies was formed by merging Trip.com Group’s subsidiaries. Travel agency Tongcheng-Elong invested in Zhuzhe, Yunzhanggui and Haozhanyou. Meituan-Dianping invested in PMS provider for alternative accommodation Fanqiele in 2015, and later fully acquired Shanghai-based hotel PMS provider BeyondHost in 2018.

GreenCloud has serviced more than 16,000 accommodation providers, and 20 of them are listed among the TOP 60 hotel groups in China. The Hangzhou-based company has accumulated RMB 260 million (USD 37 million) funding and signed strategic cooperation agreements with nearly 100 travel companies since its establishment in 2010. (Translated by Elena)

TAGS: GreenCloud | Trip.com Group | PMS | OTA
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