The total capital contribution to be subscribed by all Partners to the Fund is RMB 1 billion.
The company has serviced the world’s biggest events industry players and brands including Alibaba, PwC, Yahoo, government departments, and universities.
The online travel company leveraged the prowess of domestic offerings in China to capture pent-up outbound demand and improved its booking-related metrics in a significant manner.
Atour will be competing with China’s domestic hotel chains like Huazhu Group, as well as international hotel operators including Marriott International.
Some bidders could team up for an investment, and the structure of any potential transaction hasn’t been finalized.
As of last year, Huazhu still held USD 897 million worth of investments in companies including Accor (USD 593 million) and OYO (USD 10 million).
The company is taking further cost reduction and cash flow measures in Europe.
Chairman laid out a four-pillar strategy for the company's future growth.
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