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Hotel conglomerate LN Holdings’ 2016 net profit drops 21.96% to 30.61 million yuan

LN Holdings reported operating revenue of RMB 303 million in 2016, down by 0.99% YoY. Net profit dropped 21.96% to RMB 30.61 million during the time.

03/23/2017|11:05:06 AM|ChinaTravelNews

Tencent continues reign as China’s most valuable brand, Ctrip ranks 38th with $2,260m

Tencent continued its reign as China’s most valuable brand, rising 29% to be the first 100-billion-dollar brand while Ctrip ranked 38th in the Chinese companies with a brand value of USD 2,260 million.

03/21/2017|9:45:31 AM|ChinaTravelNews

Marriott brings new hotel brands to China

Marriott has introduced its independently-branded upscale hotel the Shanhaitian Resort Sanya to China, following an earlier Chinese debut of its Tribute Portfolio collection last month.

03/21/2017|4:17:34 PM|Traveldailymedia

Lifestyle vacation provider Tsingpu closes A round, invests in Blossom Hill

Lifestyle vacation provider Tsingpu Travel announced that it has raised RMB 200 million in its A-round financing and become a major stakeholder of boutique lodging brand Blossom Hill through a strategic investment.

03/21/2017|12:22:37 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

UCAR projects profit in 2017 after posting 7.3-billion-yuan net loss in two years

Car-hailing firm UCAR registered operating revenue of RMB 5.85 billion in 2016, up by 235% YoY, while net loss was RMB 3.6 billion. CEO Mr. Charles Lu was optimistic that UCAR would return a profit this year.

03/20/2017|10:16:11 AM|ChinaTravelNews

Flats brand Memor Home closes million-yuan A round backed by Poly Group

Apartment rental brand Memor Home announced that it has raised millions of yuan in its A round funding backed by real estate conglomerate Poly Group’s investment arm.

03/20/2017|10:03:52 AM|ChinaTravelNews

Hilton plans to multiply its hotels in China

Hilton will see a substantial increase in hotel properties in China in the next few years, as it is currently developing 234 hotels on top of the more than 90 hotels in operation in the country.

03/20/2017|10:26:58 AM|ChinaTravelNews
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