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Travel conglomerate OCT to divest interests in two firms for 2.3 billion yuan

Theme park and tourism firm OCT Co. plans to divest its stakes of 100% in Taizhou OCT and 60% in OCT Vision. The two deals will be worth RMB 2.3 billion.

04/13/2017|10:15:10 AM|ChinaTravelNews

Outbound agency Phoenix Travel invests in Australian tour operator

Chinese outbound travel agency Phoenix Travel announced that it has made a strategic investment in Grandcity Travel, an Australia-registered firm with local bus fleets and Chinese-speaking tour guides.

04/11/2017|1:33:25 PM|ChinaTravelNews

China Travel International's net profit plummets 74% in 2016

Tourism conglomerate China Travel International reported revenue of HK$4,070 million in 2016, down by 7%. Profit attributable to shareholders tumbled 74% to HK$350 million.

03/30/2017|6:21:14 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

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

Tailored-trip startup UniqueWay receives RMB 50 million

Operator of tailored overseas tours UniqueWay has raised RMB 50 million in its series B round from China National Petroleum Corporation (CNPC)’s investment fund.

02/16/2017|7:08:16 PM|ChinaTravelNews

UTour drops planned 2.6-billion-yuan takeover of HuaYuan

Outbound tour operator UTour announced on February 2 that it has decided to pull the plug on the plan of fully acquiring HuaYuan travel agency for RMB 2.6 billion, “due to policy changes.”

02/06/2017|9:47:42 AM|ChinaTravelNews

6 million outbound trips expected from China in Spring Festival “Golden Week”

CNTA projects that the number of outbound trips from China during the upcoming 2017 Chinese New Year holidays will total 6 million; and cruise travel, winter holidays, family trips and theme tours will continue to be popular.

01/23/2017|10:01:38 AM|ChinaTravelNews
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