HNA Group boosted its stake in Tuniu to 26.61% in three transactions via its subsidiary HK Praise Tourism in the past five months, according to company filings on SEC.
Budget hotel operator Podinn Hotel was listed on New Third Board on October 17. It registered RMB 1.98 million net loss in 2015 and RMB 12.18 million net income in 2014.
UCAR announced on October 17 that it plans to raise RMB 10 billion for the development of its car dealing business.
Qunar announced that it has entered into a definitive agreement with Ocean Management. The agreement valued the company at around USD 4.44 billion.
Hotel companies Homeinns and Jin Jiang remodeled some of their existing economy hotels to midscale hotels to overcome problems in finding properties and increase RevPAR.
Operating revenue rose 541.76% to RMB 2.176 billion and net income climbed 467.06% to RMB 143 million, according to the company’s third-quarter preliminary results.
Hotel data specialist Joint Wisdom and PMS provider Shiji Information will cooperate on system services such as direct connect, PMS and revenue management.
Bicycle rental startup Mobike announced on October 13 that it has completed another round of financing which had Chinese social network giant Tencent as one of the investors.
