While the theme is added value, it still has to be of the same standard.
Booking.com offers a total of 28 million places to stay. About 5.7 million listings of those places are apartments and homes compared to 6 million on Airbnb.
In China, Airbnb currently has just 7% of the home-sharing market, dwarfed by domestic leaders Tujia and Xiaozhu, who together account for nearly half of the market.
V Resorts will use the freshly raised funds to further expand its footprint in the country, and to enter newer markets in South Asia and the Middle-East.
Zhuiyi Technology will use the funding for developing AI technology and products, recruitment, ecosystem building and overseas expansion.
It had signed contracts for direct connection with Airbnb, Ctrip-backed Tujia and Meituan-owned Zhenguo.
The development will incorporate modern designs and green concepts into the industrial site where the hotel is scheduled to open at the end of 2021.
In cooperation with WeChat Pay, Shangri-La Group will now deploy offline mobile payment and offer guests in its China hotels.
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