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Wanda Group sells 13 projects, 76 hotels to Sunac for $9.3 billion

Chinese conglomerate Dalian Wanda and property developer Sunac China jointly announced on July 10 that Sunac will acquire 13 Wanda cultural tourism projects and 76 Wanda hotels for RMB 63.17 billion (USD 9.3 billion).

07/10/2017|4:14:26 PM|ChinaTravelNews

Bike-sharing firm Ofo raises $700 million in E round, backed by Alibaba

China's bike-sharing platform Ofo announced that it has received more than USD 700 million in its series E round funding. The round had Alibaba, Hony Capital and CITIC as the lead investors and also involved Didi Chuxing and DST.

07/06/2017|6:11:42 PM|ChinaTravelNews

China plans to relax private investment limit on state-own airlines

Chinese aviation authority CAAC issued a consultation paper proposing state carriers Air China, China Eastern and China Southern be allowed to have a relative control other than absolute control in the state ownership structure.

07/06/2017|10:25:16 AM|ChinaTravelNews

CITS wins duty-free concession at Beijing Capital Airport

CITS subsidiary China Duty Free Group has won duty free concession at Beijing Capital Airport for the next eight years. The company is to acquire a 51% stake in Sunrise Duty Free.

07/05/2017|7:17:46 PM|ChinaTravelNews

Tongcheng Tourism plans to invest in Hongtu Airlines

Tongcheng Tourism is said to eye a strategic investment in Hongtu Airlines, as China’s OTAs seek to extend on supply and demand sides to gain customers and build their own core advantages by providing a full range of services.

07/05/2017|9:44:26 AM|ChinaTravelNews

China Eastern Airlines launches OD revenue management system

China Eastern has adopted origin-destination (OD) revenue management system that is able to analyze and predict best solutions for distributing its available seats dynamically and maximizing its revenue on the entire air route network.

07/05/2017|9:18:30 AM|ChinaTravelNews

Marriott CEO: China is the best opportunity for growth

Arne Sorenson, President & CEO of Marriott International, defined China as their largest market. Mr. Sorenson said that Marriott will need more brands to expand in the market.

07/05/2017|2:58:05 PM|ChinaTravelNews

Chinese OTAs open up to new ways of distribution connectivity and integration

Emirates' decision to make their offerings available for booking on Alitrip (Fliggy) via an NDC API indicates the readiness of intermediaries in China to embrace new developments.

07/04/2017|9:50:52 AM|ChinaTravelNews
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