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Chinese real estate firm acquires 90.5% stake in luxury travel firm A&K

Chinese real estate and investment company Zhonghong Group announced on May 8 that it plans to acquire a 90.5% stake in luxury travel company Abercrombie & Kent (A&K) for USD 412.49 million.

05/09/2017|10:47:03 AM|ChinaTravelNews

Sabre unveils behaviors and motivations of Chinese travelers

Higher disposable income (20%), enabling technologies that make traveling more convenient (17%), and access to relevant travel information (15%) are the top three factors that have contributed to this increase in travel.

05/08/2017|2:30:43 PM|Sabre

China Southern Airlines sets up investment holding firm

China Southern Airlines has set up its investment holding firm to operate industrial investment, financial service, and capital leverage. The official inauguration of the new firm is slated for June.

05/05/2017|2:13:37 PM|ChinaTravelNews

CITS nets 20% more profit in 2016

CITS Group posted operating revenue of RMB 22.39 billion in 2016, up by 5.16%. Net profit last year climbed 20.07%. Operating revenue grew 10.54% in the first quarter of 2017 while net profit for the period rose 5.83%.

05/05/2017|1:51:32 PM|ChinaTravelNews

TravelersBox gears up for its foray into China

TravelersBox operates kiosks at airports that allow travelers to convert their leftover foreign currency into digital money. The company hopes the Chinese travelers, too, will like the idea.

05/04/2017|10:31:49 AM|ChinaTravelNews

Homeinns contributes 81% of BTG Hotels’ operating revenue in Q1 2017

BTG Hotels’ operating revenue skyrocketed 437.35% YoY in the first quarter of 2017 to RMB 1.913 billion, of which Homeinns contributed 81.02%.

05/02/2017|9:32:16 AM|ChinaTravelNews

Tongcheng Tourism sets up own airlines for one billion yuan

Online travel agency Tongcheng Tourism announced that it has invested RMB 1 billion to set up an airline company.

05/02/2017|9:19:38 AM|ChinaTravelNews

Joint Wisdom widens operating revenue and trims net loss

Hotel data specialist Joint Wisdom boosted its operating revenue by 48.81% to RMB 86.72 million in 2016. Net loss attributable to its shareholders was trimmed by 1.58% at RMB 66.12 million.

04/28/2017|12:00:01 PM|ChinaTravelNews
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