The acquisition of Connexus Travel follows the startup’s strategy for targeting expansion in Seoul and Shanghai.
Through the Transactions, the Group is able to tap into the full ecosystem of tourism related business.
The move is to mitigate peer competition and minimise and eventually eliminate business overlap.
The acquisition has deepened the online travel platform’s cooperation with over 10,000 hotels.
Alibaba holds a 5% stake in UTour while HNA Group owns more than 21% shares of Caissa Tosun.
For Flipkart, the addition of Cleartrip is a step towards business diversification.
As Hopin became the go-to virtual venue for event organizers, the next product to add was professional-quality video production.
Last month, Guangzhilv announced that it will acquire Shanghai Shenshen International Travel Service to set up its eastern destination-service system.
ChinaTravelNews is a wholly owned subsidiary of
©2022 TravelDaily China.