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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

CNTA: Organized outbound trips increase 4.49% in Q4 2016

The number of organized outbound visits from China totaled 14.49 million in the fourth quarter of 2016, up by 4.49% YoY. The duration of overseas stays totaled 80.64 million days, an increase of 1.24% from a year ago.

03/17/2017|10:12:09 AM|ChinaTravelNews

ITB China announces first partner airline China Eastern

ITB China announced that it has signed a partnership agreement with its first partner airline China Eastern.

03/16/2017|4:45:15 PM|ChinaTravelNews

Hemei to buy 60% of travel platform Xintu for 80 million yuan

Hemei Tourism, a subsidiary of trading and tourism company Hemei Group, plans to spend RMB 80 million to acquire a 60% stake in Shanghai Xintu, on which B2B travel platform Tripb2b will build a new platform.

03/15/2017|11:01:51 AM|ChinaTravelNews

China Lodging Group's net revenues rise 13.2% in 2016

China Lodging Group (Huazhu Hotels) reported net revenues of RMB 6,538.6 million (USD 941.8 million) in 2016, up by 13.2% YoY, in line with the guidance previously announced.

03/15/2017|6:18:37 PM|ChinaTravelNews

Orient Victory China buys 78% stake in Japanese hotel firm Nibou

Orient Victory China Holdings will buy a 78% stake in Nibou Company Limited, a Japanese hotel company, for JPY 103,740,000 (USD 903,163).

03/14/2017|2:02:41 PM|ChinaTravelNews
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