Airbnb's cofounder Nathan Blecharczyk maintains that the company don’t focus on the competition very much.
The joint venture is expected to unveil hotels under the new brand across gateway cities such as Shanghai, Beijing, Guangzhou in China in the next five years.
Enchanting Travels forecast to double its revenue to an unspecified level in the three years to 2019.
Accor spends $700 million a year on sales and marketing while Marriott spends $4 billion and Hilton more than $2.2 billion, Accor intends to catch up with what competitors spend.
The two partners are aiming to accelerate the roll-out of the powerful German travel technology and the expansion of the Leisure Travel Network in China.
If Fosun participates, it will be via its Chinese fund, not the Indian arm.
India is now one of the fastest growing outbound tourism markets in the world, second only to China. The UNWTO estimates that India will account for 50 Mn outbound tourists by 2020.
Lonely Planet choose to acquire rather than distributing through third parties likely has to do with LP wanting to keep its content unique, as well as acquiring ArrivalGuides’ existing customers.
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