Baidu and Sequoia Capital have been investing in both Tiantian Yongche and 51 Yongche, making a showdown between the two startups imminent.
Major Chinese property developer Orient Victory Group plans to acquire 49% equity in China Comfort Travel for RMB441 million.
China's tourism industry is expected to record RMB1.7 trillion revenue in the first half of this year, China Tourism Academy (CTA) projects..
Shanghai is experiencing a glut of premium hotels and the hotel industry will face a high vacancy rate if investments in new hotel projects continue unchecked.
Home Inns will expand its Homeinn Plus hotels by 80 to 100 properties this year, as well as launch its Qiake-in guest platform.
Songcheng will invest RMB87 million to acquire 60% holding in famous Tibetan folk opera Jiuzhaigou County Ronzhong Erjia Cultural Productions.
After breaking the 100 million-trip benchmark last year the market and registered an additional 10% y-o-y growth in Q1 this year.
China’s national GDS TravelSky reported stable growth in all operations, with gross revenue growing 18.3% to reach RMB5.34 billion.
